Financial Templates

Consulting and Customization of Financial Templates

Even the simplest Excel model or itemised checklist can take a few hours of valuable senior executive time to develop. This time can be more usefully spent addressing the actual business issue rather than developing a tool or a template!

Here is a list of financial templates currently available on our site:

Accounts Receivable Aging

The main purpose of using an accounts receivable aging schedule is to see at a glance the speed with which your customer payments are being collected. As such, it is one of the most critical financial reports for your business. A slowing down of your accounts receivable collections can have a profoundly negative effect on your cash flow. Careful monitoring of your accounts receivable aging will help you tremendously in focusing on not letting your AR slip too far.

Balance Sheet Templates

Several options are available here. All of them come in three different versions, depending on your legal structure. And so each variant will have a LLC, corporation and sole proprietor version. Here are the financial templates for balance sheets currently available:

Break Even Analysis Template

Currently we have two different financial templates for the break even calculation. The first one calculates your break even based on two different gross profit margins, so you can compare the impact of gross profit margin improvements or declines on your bottom line. You can also use this financial template to compare different time periods for your company or compare yourself to a competitor.

The second break even financial template helps you calculate break even on an individual product basis. You can actually enter your variable unit costs and unit selling price to compute both your break even as well as the sales needed to achieve certain profit targets.

Cash Flow Template

12 month Cash Flow Template with a chart. Use this financial template to manage your cash balance daily, weekly or monthly. Cash flow management is a critical task of any business, no matter how small.

Childcare Start Up Budget Template

This Childcare Start Up Budget Template is meant to help you in the planning phase of your business. It's always a good idea to lay out all your costs in a spreadsheet and have a clear picture of the financial resources you will need at the beginning of your venture.

Childcare Monthly Budget Template

If you are running a day care or a childcare facility, you may want to use the Childcare Monthly Budget Template to keep track of your monthly costs. On top of the page is the Summary of all expense categories. It is fixed there, so you can keep it in view as you add your data below. This way you will immediately see how your totals are affected by every change you make to the Childcare Monthly Budget Template.

Depreciation Schedule Template

This Depreciation Schedule Template uses straight–line depreciation calculation. This Depreciation Schedule Template will help you calculate your depreciation when working on your business plan or your profit and loss for your business. All you will be asked to input will be your asset descriptions, their cost and useful lives. Useful lives are basically prescribed to you by the IRS which requires us to use the Modified Accelerated Cost Recovery System (MACRS). It is the accepted accelerated asset depreciation method required by the United States income tax code.

Expense Report Template

The main purpose of using an Expense Report Template is to formalize the process by which your employees (and yourself) receive reimbursement for business–related expenses they covered with their personal funds. Every business activity needs a supporting document, be it a vendor invoice, customer invoice, receipt, etc. Expense Report Template is the documentation needed to keep such reimbursements organized and properly accounted for. It also helps with the approval process by formalizing it.

Financial Plan Templates

If you are working on the financial side of your business plan, avail yourself of these financial plan templates and save valuable time. Designed for a 3 and 5 year annual presentation of the financial statements which form an integral part of every business plan, these financial plan Excel templates include 10 sheets comprising of Assumptions, Personnel schedule, Depreciation schedule, data sheet for the financial charts, Profit and Loss, Balance Sheet, Cash Flow, Financial Highlights and 4 financial charts.

Loan Amortization Template

There are currently two financial templates available to help you with your loans. The first one will help calculate your loan payments and compare different loans based on interest rates or other loan term differences.

The second financial template will calculate the time needed to pay off a debt when given the following information: Loan Amount, Annual Interest Date, Monthly Payment and Start Date. If you are in a situation where you have to refinance all of your debts and need to know when you will be able to pay them all off, this is your tool.

Profit and Loss Templates

Profit and Loss templates to help you prepare your annual income statement for 1 year, to project it for 3 or 5 years. There is also a monthly Profit and Loss template which covers one year. In addition to the profit and loss format, the annual profit and loss projection templates also include a sheet with assumptions which can help you generate different scenarios based on different sales growth rates and inflations rates.

Statement of Changes in Stockholders' Equity

The Statement of Changes in Stockholders' Equity template will help you detail the activity in your equity section during the period for which you are preparing your financial statements.

SWOT Charts

The main purpose of using a SWOT Chart is to scrutinize your business or your business plan in a way which really shows its vulnerabilities and strengths. A SWOT analysis has become a standard in business planning on all levels – from small business planning to large corporations strategic and operating planning.

Time Sheet Templates

We currently have two Time Sheet Templates on our site. The first one is a simple Weekly Time Sheet Template you can hand out to your employees and then use to easily input and calculate their hours worked.

If you would like to track your time by project or by client, the Time Sheet Template by Project will help you do that. The time sheet template calculates how much the time you spent is worth based on the hourly charge rate you input by project or by client.

Year End Tax Plan Template

The Year End Tax Plan Template will help you plan your taxes ahead of time and realize substantial tax savings when you work on it with your tax advisor.

Personal Finance Templates

Personal Budget Template

This personal budget template consists of 6 tabs. Three of them are there to help you add up all your receipts, two show your monthly and annual budget (one in detail, the other as a summary) and a budget to actual comparison.

Customize Your Financial Templates

Have you ever downloaded financial templates online only to find them unusable? I have. Many financial templates sit on my hard drive without ever being used. Some of them are just too complicated. They are entirely macro–driven and very difficult to adjust or customize. Others are just too unwieldy – with an intricate structure which doesn't fit my business and would require a huge amount of time, not to mention advanced knowledge of Excel, to adjust without disturbing all the formulas.

I have also seen some financial templates which are simply incorrect. Items belonging on the balance sheet show up on the income statement and vice versa. Some of them even come with a training video and the same mistakes are made there. This information is obviously not created by professional accountants and not even reviewed by accountants for professional accuracy.

And yet many clients come up to me asking if I have some financial templates they can use: a balance sheet form or a business plan form – something relatively simple they can get started with as they work on their numbers. And something that takes into account their legal structure. After all, a balance sheet for a corporation will have a different structure from that of an LLC.

Another problem my clients sometimes ran into was that after getting a financial template (often designed by a skilled Excel programmer and not neccesarily by an accountant), they would get stuck. They may have had a question regarding a formula, or wanted to tweek the template a little and needed help doing that. Well, that option was simply not available.

This led me to create the financial templates you see here. In addition to being fairly straightforward and free of excessive formatting (including colors), they come with an option to have an accountant work on them with you, if such a need should arise.

As many business owners know, especially when it comes to business plans, a good financial template is often only the starting point.

The selection of financial templates found here is just a start. Many more are in the making...

If you require customization of these financial templates, I will be happy to assist you.

Other consulting services cover financial statement analysis, business plan preparation, forecasting, Excel formulas and Excel training.

If you'd like to contact us to schedule your consulting time before your purchase of the financial templates shown above, please call us at 951–693–5931 or Contact Us.

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