Posts Tagged ‘payroll budget’

How to track your business in excel part 3

November 11, 2009 Leave a comment

For a better quality version of the video web cast:

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Here we really complete the picture for you by showing you how to enter and then report on your financial transactions.

We show you how to set up the hyperlinks so that if you expand upon this concept you will be able to incorporate any new items in the ‘Home’ or ‘Menu’ Tab.

We review the setup of a list and data validation to update the way the source account works, because that account really needs to represent sources of payments and deposits. This also makes it possible to rely on the “Destination” accounts for tracking all income, expenses, asset purchases and payments on liabilities.

Now that the template is set up we can show you how to enter your transaction data:

This is what the template looks like with everything entered. If there was a deposit to be entered the Source account would be the bank account where the money was deposited and the destination account would be the appropriate income account. This is not set up to show invoices to and payments on accounts receivable. This can be done but would have to be done on a private consult because it would be very involved.

Once we have data in we can begin to report on it. We show you in the last 3 minutes of the web cast how to create a pivot table on this data reporting on expense by category and then expanding upon that by showing you how to further report the expenses daily based on the date of the transaction.

Figure 1 – Pivot Table – Daily Expenses click for larger image

We will post a bonus web cast going into more detail on these pivot tables and how you can use them to report quickly on the information in the sales and transactions.


Payroll – using excel to plan your new hires

August 19, 2009 Leave a comment

We use excel for the planning and analytics. Many people ask me how companies get into the situation where they cannot afford to stay in business because they’ve over extended themselves. My first rule in good financial management is paying attention to your finances. This means more than just going out and hiring someone at the “market” rate. Once you have that information you have to lay it out in terms of the true cost and make sure you can afford that rate. Then you either know you can, or you have to negotiate with someone – maybe you can offer more than just a salary, but a great opportunity for the person to grow & learn, or maybe you can lower the salary to something you can afford as a base and make the rest performance based.

We also show you how you can calculate and determine your commission structure for sales people. The power of excel is in being able to plan things before you commit and start actually spending money so that you can be sure of what you can afford. This is the critical mistake so many businesses make because they don’t do this.

Please enjoy the web cast by clicking here: