Microsoft Excel is useful in various budgeting, forecasting and financial management activities. The software provides easy-to-use “templates” that are helpful in quickly analyzing the financial data, budget, variance analysis and many more.
1) Budgeting Templates
Budgeting templates can help you manage your day to day expenses as well as plan for large purchases like home appliances or furniture. These templates give you an organized way to organize your expenses by category; monitor your ongoing balances; track the balance of cash on hand; track credit card debt; create reports that summarize your expenditures. You can even print these reports out and take them with you when shopping for home furnishings or other big ticket items!
2) Financial Management Templates
Financial management templates are used for financial planning of business, personal finance, project finance etc. Financial managers also use the excel templates to monitor budgets and control inventories of products etc.
3) Forecasting Templates
Forecasting is done by many organizations in order to accurately budget the future expenditures so that there are no surprises later on. Excel provides you with all the tools required for data analysis, projections and reports generating when it comes to forecasting figures.
4) Asset Management Templates
Asset management refers to the techniques used to maximize an asset’s value (and lifespan), minimizing its costs; or vice versa. Assets can be tangible like buildings or vehicles; or intangible like rights-of-way, patents, copyrights etc. Microsoft excel templates are perfect for asset management.
5) Invoice Tracker Template
If you own your business, it’s very important to keep track of all your revenues and expenses – this information is vital when it comes to managing the daily operations of the company. An invoice tracker excel template can help you manage invoices paid or received; monitor bills; record cash flow etc.
6) Income Statement Template
An income statement tracks sales; cost of goods sold; operating expenses; interest expense; taxes etc. This is then used to generate an income statement that summarizes the performance of a single period (monthly or annually). You can even download free Microsoft excel templates for income statements using Microsoft office online store .
7) Balance Sheet Template
The balance sheet summarizes a company’s assets, liabilities and shareholder equity as of a single date. It reveals the financial position of the business at a given point in time. Microsoft excel templates for balance sheets can be downloaded from Microsoft website or from Microsoft office online store .
8) Cash Flow Template
A cash flow statement tracks all cash that flows into and out of your business; it follows accrual accounting rules; unlike the income statement; which uses cash-basis accounting (which is different). The information gained by tracking these figures on monthly basis help Microsoft excel templates download free managers to determine if the business has enough money to operate on its own; or if more investments are required.
9) Project Management Templates
Microsoft excel is also used for project management. Project managers use Microsoft excel templates to track various elements of a project, including budget by category; keep track of the progress made on each category etc. Microsoft office online store has excel templates for managing projects. 10) Invoice Template
You can also download Microsoft invoice template from Microsoft office store . There are several types of invoices that you can create using Microsoft word or Microsoft excel – whichever suits your needs best. You will need to create an account with Microsoft office store first before downloading Microsoft word and Microsoft excel templates as well as other tools such as Microsoft Visio (a diagram software). 11) Time Management Template