Business 101: CashFlow Forecasting For Service Business | Chris B. | Skillshare

Business 101: CashFlow Forecasting For Service Business

Chris B., Instructor, MBA and CFO

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12 Lessons (1h 7m)
    • 1. Course Introduction

    • 2. Instructor Introduction

    • 3. Excel Basics

    • 4. Headers and Incoming Cash

    • 5. Outgoing Cash

    • 6. Totals and Formatting

    • 7. Formulas and Formatting

    • 8. Test Data

    • 9. Budgeting Basics & Summary Tab

    • 10. Summary Tab Format and Formulas

    • 11. Formulas

    • 12. Course Conclusion


About This Class

Are You A Small Business Owner?

Do You Not Feel In Control Of Your Business Cash Flow?

Do You Want A Better Way To Forecast Ahead So You Can Plan Out Your Cash?

Do You Want To Really Understand Where the Money Is Coming From And Where It's Going?

If You Answered "Yes" To Any Of The Above, Look No Further.  This Is The Course For You!

Enroll today and join the 100,000+ successful students I have taught as a Top Rated instructor!

Three reasons to TAKE THIS COURSE right now:

  1. You get lifetime access to lectures, including all new lectures, assignments, quizzes and downloads

  2. You can ask me questions and see me respond to every single one of them thoroughly! 

  3. You will are being taught by a professional with a proven track record of success!

  4. Bonus reason: Udemy has a 30 day 100% money back guarantee if for some reason you don't enjoy the course!

Recent Review:

Michelle D. says: "Fantastic course, I do own a business and really have zero idea where the money comes from and where it goes other than at a high level.  If there's cash in the bank, great.  This course completely changed my frame of reference, now I can know exactly where I'm at, how the business is performing and what I can expect over the next month.  Really recommend!"

Why You Should Take This Course:

Service businesses often run very day to day, without much planning for the future.  As well cash flow is always an issue, making sure there is enough in the bank to pay suppliers, your staff, yourself, and more.  It can definitely be a struggle at times, and where the money has come in and gone to can be a bit of a mystery over time.  Take control and let it be a mystery no more!  Start planning, forecasting and budgeting today with this course. 

Become a cash flow budgeting and forecasting pro!

This course is 100% in Microsoft Excel, showing you from start to finish how to build a proper budget and forecast for your small business / service business.  We start with a blank Excel workbook, and will build the proper structure, formatting, formulas so that you can plan ahead for the future of your company, whether that is next week, month or the entire coming year.

You will be able to see where your money comes in, where it goes out and at the end of the day/month/year where you will stand.  This is most powerful if you compare what you are planning to what you actually achieve. 

As well I provide the template we build in the course for you to download! If you don't have the time or desire to build your own forecast, you can simply use the budget and forecast we build in the course and modify it to meet your needs.  

What We Do In The Course:  

  • Start with a blank Excel workbook which will become your budget and forecast

  • Build the proper structure for a budget and forecast

  • Format the spreadsheet so it is easy to read and follow

  • Place formulas in to calculate totals where appropriate

  • Create a summary tab to show overall totals

  • Show you how to track your actual results against the forecast and budget

  • Teach you how to then use that information to make informed decisions about your business

  • And Much More!!!

At any point if you have a question, please feel free to ask through the course forum, I'd be happy to answer any and all questions.  


About The Instructor

Chris Benjamin, MBA & CFO is a seasoned professional with over 20 years experience in accounting, finance, financial reporting, and small business, Excel budgeting and forecasting.  Having spent the first 10 years of my career in corporate settings with both large and small companies, I learned a lot about the accounting process, managing accounting departments, financial reporting, external reporting to board of directors and the Securities and Exchange Commission, and working with external auditors.  

The following 10+ years I decided to go into CFO Consulting, working with growing companies and bringing CFO level experience to companies.  I help implement proper best business practices in accounting and finance, consult on implementation of accounting systems, implementing accounting procedures, while also still fulfilling the CFO roll for many of my clients which includes financial reporting, auditing, working with investors, financial analysis and much more.  

Thank you for signing up for this course. I look forward to being your instructor for this course and many more!

Chris Benjamin, Instructor, CFO & MBA


1. Course Introduction: Hello, everyone. Welcome to the course. Cash flow, budgeting and forecasting for service based companies. My name is Chris Benjamin. I'll be your instructor in the next video lecture. I'll do a bit more of an introduction to myself in my background and how I've worked with smaller companies. But for now, this video, it's want first, welcome you to the course and then give you a bit of a road map it So what we'll be doing. So once we get past the introductions, the first thing I'm going to be doing is teaching you the basics of excel. So if you're already familiar with Microsoft Excel, you'll be able to skip that one lecture. If not, though, and you're not quite familiar with it or don't feel comfortable Excel. That would be a good lesson. I'm gonna teach you everything you're gonna need to note for this course. You will be able to navigate, excel with no problems after that lesson. And then from there we're gonna start with a blank workbook, and what we're going to do is build out a 12 month forecast. Used the word budget forecast kind of interchangeably, basically, um, so we'll build out a 12 month forecast where you can put in your various data point So all your sources of revenues, all your expenses will build. Some formulas will calculate whether you be profitable or not profit at the end of any given month, and then we'll take a look at it. Really analyze the data, you know? Did you capture everything? Is the timing correct? And, you know, is there any hiccups in there that we need to find something to change so that you do have all profitable months beyond the 12 month forecast will also create a nice little summary. Tabas Well, so once we have our big sort of spread, sheep will boil it down to a nice summary, one that will all be linked by formula. So it'll be easy. It will update automatically. So as you update your 12 month forecast over time, the summary will update itself is well, and from there yes will just be able to make some better decisions. You'll really be ableto have some insight into, you know, the true profitability of your business and where that cash is coming in and most importantly, where it's going out. So that's that if you have any questions during the course, feel free to send me a message through the course website. Happy to answer any questions. Maybe just let me know what video you're watching. And if there's like a specific time stamp or I did something you didn't understand, just let me know where that is, and I could go look at it and let you know. And other than that, if there's anything in excel as well, you know, I'm gonna try to explain what I'm doing as I'm doing it. If for some reason maybe I click on something or do some with my keyboard and I don't think to say it same thing, just let me know if you have a question and let's go ahead and get started, guys. 2. Instructor Introduction: All right, everyone. So I just want to give you a quick introduction to myself in my background. So again, my name is Chris Benjamin. Have an undergraduate degree in accounting and finance. And then I went on to get an MBA from the University of Washington, where I focused on entrepreneurship. I really want to work with smaller growth stage companies my whole career. So I have over 20 years experience in both large publicly traded companies and then more recent start up, early stage type of ventures, usually in the CFO role. That just chief financial officer. The most recent 10 years I've spent working as an interim part time CFO on a partnership basis. Basically, I went into consulting. I left the corporate world. I said, I want to work with smaller companies that are growing. Basically, isn't consultant bring all my knowledge and experience to the smaller companies come in, help them grow, do a lot of different things. So I'm not like reading the bullet points verbatim necessarily. But I typically go in help with things like setting up accounting systems, implementing best practices for accounting and finance, helping them understand things like their cash flow better, you know, waste, improved profit, etcetera, sometimes creating just a general forecaster evaluation some, um I've been around the block with many different companies. Anything from like a set small one person, entrepreneur type companies all the way up to, you know, companies that have ultimately went public. As the last point says, I brought companies from seed stage typo which is initial public offering when you get traded on the stock market. So definitely had a lot of exposure. I love building things in Excel. I love helping small businesses, so this course will be terrific. I'm really excited to be able to teach you guys now how toe How to teach her how to build a nice cash flow budget in Excel. So that said, Let's go ahead and get started on the course. 3. Excel Basics: All right, everyone. So we're going to start off by learning some basics in excel. So if you're familiar with Excel Ah, you understands her Rose column Cells input. You know how to format. If you know how to use most of things on this tab, you know, some basic formulas. You're good to go, so you can skip this lesson. If not, though, feel free to stick around. Let's learn the basics. Some come after this video. You'll have all the tools we need for the course. We're not getting into anything too too complex in Excel. So first things first. Welcome to excel. Uh, I'd encourage you to open a new workbook or open excel yourself. First thing that I would want you to do is save it and give it a name. So I've already done that just out of habits, like the very first thing I do. Um, this will actually be the workbook that I use in the course, but I'll delete out all the stuff we do here. Just practicing. Um, workbooks are basically they kind of are like a book. You have multiple sheets so we can add different sheets. Now, yours might have opened with multiple sheets already. That's one of the settings and excelled. I think I have mindset to just create one sheet. Ah, that little plus sign. No will give us multiple sheets. So anything we do on sheet one won't be on she two or sheet three. Think of these as sort of pages in a book when we do create our forecast that we will have two sheets, so we'll have one with our 12 month forecast and they will have a nice summary one as well . So we really only need to. So I'm gonna delete the 3rd 1 here. So pretty much anywhere in excel, you can use your right click on your mouse and bring up a menu that's relevant to where you are. So there I managed to right click on here, and I could insert another sheet. I could delete the sheet, which is what I did. She three I could rename it Movin on and then some of these we're not gonna get into so uh , no. On any given sell, you might want to, right click. At some point, you could cut copy paste, so we're gonna learn a little bit more about those in a second. You can also do things with entire rose. So if you click on an entire row and he knows rows are numbered and columns are lettered, if you click on the actual letter, it'll highlight the entire column or a row. And so anything we do will apply to this whole column. So if we right click here, we could cut copy paste insert sometimes will insert etcetera. So best thing to do is, let's create some just go do a little bit of data entry so we have something to work with, and then we can start applying things up here and show you what we can do with Excel. So from each of these is referred to as a cell and has a specific cross reference. So this one is D five, and you can always look here to see where you're at. So say I click way over here somewhere. We're in Q 15. You can type letters, numbers, formulas, pretty much anything you can type. You can type into a cell. Um, excels. Obviously, it's very sort of, you know, up and down, left and right, so it's very good for things like charts, keeping track of numbers. Planning ahead, etcetera. Ah, so it's for our dummy data. I'm just gonna make a, uh, oops. Sorry about that. My trial expired. Um, I'm gonna make a little just sort of list of test scores. Let's that Chris, Bob, Julie and Andrea, I'll take tests. Now. I'm using my keyboard to move around. You see, my mouse just casted around so you can use the arrow keys on your keyboard like that's what I'm doing now. And that's how it was moving as well. If you type something and hit and turns to say type test three hit, enter, it will move down or just keep hitting. Enter. It'll go down even further. Um, again, you can arrow around or use your mouse and click and type various things. Eso I just type that list? I type. That's let's put in some test scores. I was gonna put in some dummy test scores just for the sake of having something format. Um, the numbers themselves are relevant. Um, se Andreas not is great. So for whatever reason, Okay, so we have our different tests. We have a list of names we have are score. So this might be something. A teacher. We keep track of it. Excel. Well, I like to format things that we want to make this look a little bit nicer. So, um, And again, all of this will apply to, uh, the actual building, the financial model itself, the formatting that we're learning here. So, um, if you highlights, I'm gonna show you how to highlight multiple cells at once. We talked about how you could highlight an entire row our entire column. But sometimes I don't want to do this. That apply formatting could say I wanted to apply shading to this. I don't want shading the all the way across. I really just want, you know, these to be shaded right here. So the way you do that in a way early I did that myself is if you left, click and hold and then move your mouse around. You can highlight whatever you like a susie left goat. Let go of the mouse or a story of the left click. Um, it will release that, and it leaves those highlighted. So now anything we do will apply just to this block of cells. So let's just highlight these now when it comes to menus. So let's say so. We're gonna come back to the clipboard. Uh, basically, we're going to come up to about here. We won't get too much of this stuff over to the right, but, ah, the things we typically like to do. I like the bold my hatters, you know, just so they stand out a little bit more. So right here we have the option to bold to a Tallix and underline. And you'll notice, too, is if I hover over every option. It brings up a menu or not so much of many. What brings up a little box that tells us bold control? Be so Our keyboard shortcut is the hold down the control button and press be so I'll show you right now if I hold down control, which I'm doing impressed be it bowls those. And if I do it again and unfolds them. Conversely, I could have just click the bold and it's on right now, Talks underlined. I typically don't use those, but that's how we would apply them. I also like to create a nice separation like a line kind of under all of this. Now we could use underlined, but underline Onley underlines text that's in boxes. So and I kind of want to create more of a full block like I want all of these cells toe have a thick underline. So, uh, what I use is this which is the borders button. So border applies to an entire cell. And since we have all these cells highlighted, it's going apply to all themselves. Anytime you see a drop down arrow, you can click on that and get multiple options for whatever it is you're working on. Ah, bottom border just happens to be the default. That's the one I want right now. So I'm gonna click that I'll show you what that looks like. Perfect. That's exactly what I want. So I'm gonna re highlight these. Um, I also like to shade sometimes the header rows just giving a little bit, you know, like clean it out, make the spreadsheet look a little bit more exciting the way you could do that So you can change the actual fund color, which I'm not really a fan of. I typically just leave. It is black font, But what I do like to do is color in the entire box and just some light color. Uh, you know, we're talking about cash flows. Let's just do, like a light green. So again I click That will drop down arrow, choose the light green And there we go. I'm gonna re high like these again because the other thing I like to do is center my headers, You know, just so again it's nice. Um, the way I'm going to do that is right here in the alignment tab. This will be left. Justify left center to the right. And then this is a vertical alignment If the road was big, so I'm just going ahead, get center. All right, so we got our test scores centered. We got it. Lace unshaded. Separated. Maybe something else we want to do is put a line right here vertically just to separate that. So if you remember back, our borders would be the place to go. And I'm looking for a left border right there. Perfect hit. Save. You should get in the habit of hitting, save or turn on auto safe minds not turned on because I saved to anomaly Dr. It won't let me. If that's your case. Just hit the save button every once in a while. You don't want to lose your heart work in case of a problem. Um, so I think so. Some of the last things we're gonna show you guys, you know, we're gonna be dealing with a lot of dollar amounts. We're not gonna be dealing with just numbers. So, uh, I like to format my dollars in dollar format, you know, with a dollar sign. So here, under the number section, right here, it has some pre defined ones, like accounting number, percentage, Akama, etcetera. So all we have to do is highlighter numbers to say these are dollar amounts, not test scores. Say they were sales or something. We can highlight those and hit the dollar sign. And there we go. Now, Typically, I'm not gonna leave the stents on, like, especially for forecasting and budgeting, you know, unless you're really down to the penny. But I would I would encourage you to to sort of use whole numbers. Um, and the way we get rid of those two decimal points, leave things. Highlight it right here. We have a decibel increase in a decimal decreased. So I'm gonna decrease the decimal once and twice. So there you go. So I like to look so that again, This aren't test scores. A more they might be sales, and I can't bother to type it. Okay, guys. Ah, won the last things I'm gonna show you. So now let's say I wanted to say this last semester one and then in semester to have the same students. I'm gonna have test scores. Um, I don't want to recreate this entire table. You know, I spent a lot of time on it. Not really, obviously, but yes. You know, I don't wanna Why? Why bother to recreate it when it's It's exactly what I wanted to be. So if I Hiatt this entire thing up here, we can copy things. We could cut it if we want to move it. But we actually want to duplicate its Let's just copy it. Go where we want to paste it, which is right there and then hit. Pay straight here. Perfect. Now let's say I wanted to cop. I like what I've done. I like the green like the boulder like the lines, but I'm actually gonna have completely different students. Um, you know, I don't really want all those date. All the data names inherits one of this. The kind of the formatted version. Well, if you highlight things and Excel provides you with this little shortcut, it's called the format painter. So highlight what you want to copy, format wise. Copy that. Press that button and then go where you want to paste it. Click there and boom that put that in. So if you actually type in number in here, it's already four minute with number signs as well. This would already be bold. So you see it copies all formatting aspects, just none of the data. So that's a handy tool for applying for magnet. We might do the one cell and then just copy it right across. Um, that is the main things. Guys, I think anything else I will teach you during the course, um will be using a few formulas Also show you when we get there. Nothing complex whatsoever. Ah, but yeah, we'll be using basically kind of the same skills we have here to create a nice 12 month forecast with totals and totals on the bottom and sort of separate will create some sort of sub total stuff. That's it. That's it for the Excel lesson. Let's go ahead and get started on actually building our cash low budget. 4. Headers and Incoming Cash: All right, everybody, let's go ahead and get started. So the way I envisioned this, it's good to think about how you want to lay out a spreadsheet before you just start sort of throwing things down. Essentially, we'll have our months across the top, so we'll do a full year. January December. I will do it. TOTALS column. Remove down the left side. We'll have. We'll start with the incoming cash. We'll have our sources have a sub total for that. That we'll have our outgoing cash sub total for that and they won't have our net cash. And then one thing I like to do as well, we'll get to it. But I like to take that net cash number, which is basically your incoming Lester outgoing. I put it up on top, the very first rose. Well, just we have right insight right on the first row into where we're at at any given month. So first things first. I like to, uh, name my different spreadsheets, So let's say sorry about that. Let's see. So I like the name each sheet, so I'm gonna name That's the detailed budget. And then, while we're naming sheets, well, it's called us the summary. When the way I did that, you just double click on any tab and you can rename it. We'll bring up the edit box so we'll do our detailed budget on this tab. All right, So, guys, So first things first, let's just type some months, I'm gonna start over here because I know I'm gonna have some columns with, you know, incoming cash and all that. We can always move stuff later on. And I already said that I wanted to put numbers up here. I want to put my end result I want to copy and haven't show up here on top as well. So let's put the month down one. So just a little bit of planning and keep in mind, we can move stuff around as we go. It's no big deal. So let's make this January February and I'm just typing. We'll finish this up, okay? And this will be totals. So if you remember, if you watch the Excel video, one of things I would like to do with headers is center them bold, um, on create a separation so we can do that. Let's again. I don't like to put like lines all the way across, because if I highlight this entire row and put a line or boulder shading on it, it's gonna go out into eternity, basically. So I'm just going skylight. The cells that I want apply this to So, like the center it. So if you remember, our center is right here, like the Bold, which is here or control be will bold and I also like to put a line. Now let's go ahead and do that's That's a bottom border. So one thing I'm gonna do when we get to it well, we'll do that. But I like we'll do some formatting on these numbers as well we're not. That will be one of the last things we put in just because it's gonna be a formula. And we need some a certain dummy test date, if you will. Before we get to that point, it's like a hit safe. Remember to be in that habit of hitting safe whenever you can. All right, so next one thing I forgot to mention that started this in terms of the videos of the lectures typically like to go about 5 to 7 minutes So when I see the clock getting around, the five minute mark will try to wrap up whatever it is we're working on. And then we continue on in the next lecture exactly where we left off. So we're only at three minutes here, so let's let's go a little bit further. So first things first. Now we have our months. I wanna think about our incoming cash flows. I'm gonna write incoming cash. Now. I like to bowl this as well. And this time I'm just gonna hit ah, press control and press be that Bolds anything now where this is for a service based company. So, you know, this is gonna very guys, it really depends on what you do. If you have, you know, one service that you do, maybe you are house cleaning business. And that's your business. You clean houses. You might just have one service line. But maybe your service business and cleans houses and you want to keep track of, you know, ongoing customers versus you know, one time, you know, maybe get hard to just do one time event. We clean someone's house. Eso You could break it out like that like ongoing clients versus one time clients. Um, you know, if you're a consulting business, almost the same thing. You know, you have your ongoing clients that pay you every month. Maybe then you have your one time clients that just hired you to do a project. So maybe break it out like projects. One time clients. Or maybe you break out your our maybe build some clients by the hour and others you build fixed feed, you know, break it out. Hourly clients, 60 clients. So whatever makes the most sense for you guys, so I can't determine that on here. There's lots of different service based businesses, so we're just going to write service one. Oops. Service to service three. So this is where you need to think about what sort of level detail you want. Ah, when you want a forecast and to you want to keep track of that three makes the most sense. Like what's going to give you the most intel about your business? I would definitely encourage you to, you know, not breaking out two insanely. But you know, if you can keep it somewhere under, I would say 10 even five would be better, but I wouldnt also just lump it under one. Unless you truly only have one service you provide, then fine. But if there's some some way you can break it out just to give yourself some some depth. And, you know, really use this because the ultimate goal in this building this is too use the information to them, make better decisions going forward. So if you could see your revenue by different, you know, some different metrics, like I said, hourly versus fixed price or ongoing clients versus one time clients, you know, just two ideas on how you could do that. So, uh so before we finish up this video, I'm going to show you another Little Excel trick. So we have, like, a lot of empty space over here. We really don't need it, but I do like to offset. You know, the actual line items from the main header so we can resize any of these columns, and we'll be doing some re sizing later as well. But the way you can do that is if you hover between two columns to see that double arrow shows up. If you left click and hold now, you can scroll and you can move. How wide That columnists. I'm gonna move it over to here, and that's perfect. Now we have the nice header. And here, now you do see that incoming cash. Those words actually goes over. It spills over. I mean, obviously cover some of that beast, Al, but we don't We're not using this one, but it's also into this self. Now, we're actually not gonna be using this. This is just going to blank anyways. But just for presentation purposes, I kind of wanted toe, you know, not spill over into the actual January. Come. So I'm gonna resize this column as well. Just a bit wider. I'm actually gonna make it fairly wide Just cause I know already in the futures even think about the future to I'm gonna have a total line. It's probably say total income in cash and it will be fairly wide as well. So we'll just make it out to there. Okay, guys, I'm gonna hit Save Let's end this lecture that will pick this right back up in the next 5. Outgoing Cash: Alright, guys. So next let's let's put in a line. Let's put in that totals line. So if you had multiple service items, you could list them here. I'm gonna put it, Atos line. I'm gonna show you how you could insert additional ones because say, you download this temple and you want to add your own. Let's make a line item first. Incoming cash. I'm gonna bold that. So it's gonna get hit control be now I'm going to highlight again things time. I'm gonna use my keyboard. So if you hold down the shift key and then arrow across or wherever you like But if you arrow cross, I'm going to create a nice little sort of separation. Sort of. Ah, subtitle line on the way I'm gonna do that. I want a line across the bottom and across the top. Now there isn't actually a border that's just across the top and across the bottom. There's one that has all the way around. But then it will have weird once on the end. I don't really want that. There's a thick top of bottom border. I really want that either. So what I want, I want just this bottom border, and then I'm gonna go ahead and click it again and hit top border. So did it separately, to different borders. Then that's, uh that's what I prefer. You guys obviously use what you like. So as far as insurgents to say you did this or you download this temple and you say, Well, Chris, I've got five different services. You can insert additional rows here. Eventually, we're gonna have formulas in here that add everything above it. So if you add a row and I encourage you to add it, sort of in middle. So don't add it right here, cause it'll goof up things. The formatting gets a little wonky. You're better off inserting it here. So that will be between two and three. Service two and three. It just goes a lot better, and the formula will then pick it up a swell. So just a little Excel tip if you will eso if you highlight entire row. Um, there's a couple ways to do this. There's actually three ways I'll tell or show you all three. So the first sort of proper way the menu way, which we don't use, would be to come over here and go insert and insert sheet rose and you'll see it. Move things down. And you could do that a second time if you want to add a 2nd 1 Okay, I'm gonna undo that. And your undue is right up here to see, you know, or you compress control Z. So a second way to do it is you highlight the same thing. And if you right click now, you'll see Insert so you can hit insert. And I could hit insert a little bit quicker, right? You don't have to come over here. I'm gonna undo those. So the third way, if you do this, is to hold down. She I need to think now I think it's shift plus sign. There's that. No, a lot of times that is, do this stuff without thinking. So when I have to actually do it, uh, are speaking out its can't remember exactly what impressing. So if you highlight that entire wrote, hold down control and then press the plus sign and you could do it again, you can do it several times. Ah, if you do control and minus it Deletes rose. So super quick way guys. So that's that's my recommended way. Just highlight control plus plus. And there you go, like automatic. Two more rows. So little tip there for you. We hit save. Okay, so let's go ahead and finish putting in. Um, let's see where? Up to three minutes. Let's start on. Our outgoing cash will probably have to pick it up in the next video, but let's start on it. Ah, then from there will put in formulas and then from there will put in some test data and sort of make this thing happen. So I'm gonna leave a space that I'm gonna put out going cash. Gonna bold that. So kind of near the format up here, if you will. Then we're gonna have Oliver items, and then we'll have our total outgoing cash. So let's list out some items. First. It'll be the same thing. I'm gonna put in some generic sort of placeholder ones. They might apply to your business that might not Certainly you probably have to edit it in some way. So you just type over ones that don't apply and or feel free to insert some rose score again if you're following along and building your own, you know, put them in. Now. That was a good time. So you know, your service based business. So you don't really selling the items? I shouldn't say that, cause a lot of times of business might be service based. What? They might sell some few things. Ah, will assume that you don't. You just sell, You know your services again, consulting. You sell your knowledge. Ah, house cleaning. You know, you go to people's houses, you clean them. So what are you, types of expenses? Long. I say rent, uh, may or may not have it again, but let's start with the big ones. Maybe you have some office and general just called general office in general, things like, you know, paper for your printer printer ink. Um, you know, pens just, you know, no pads. Just those kind of miscellaneous things you might have around in office. Uh, I'm gonna say we're gonna say, like, supplies in the sense that I'm going to say, I don't know how to name it because this needs to be kind of generic for any given business , But I'm thinking of supply something of, you know, the house cleaning business. You have to buy things like, you know, mops, chemicals that you bring gloves, etcetera, you know. So those air more expenses related directly to the business. Typically, in a more formal sort of accounting way, that will be called cost of services there things that you have to spend in order to provide your service. So maybe I will actually just use that cost of service items. So again, this is Yeah, like I said on just using house thing because it's just to try to stick of something derek that we can all identify with. You know, that's the mops, brooms, chemicals, the gloves, the garbage bags, etcetera that you would have to bring. So think of whatever that might be for your business. You know, a consulting business. Hey, might not have any. I mean, it might if it's truly just your knowledge. That might not mean anything there. So apply that toe. You know, however you need to, um, let's see are just one more example. I'm trying to think of examples. Three guys. You run a dog walking business. You know, maybe you have spare leashes in case you know, the person's leash isn't that great. But overall, you probably don't have a ton of cost of service items, but you might have a few. So anyways, think about what those are for your business. Um, you say your payroll and their employees. So you know you have staff. You know, you need the budget for that. Again. I'm trying to apply this to anything from a one person company to Ah, you know, a consulting firm that has, you know, 20 employees could use the same template. Let's throw in a few more guys than we can cut off this video. I know it's going a bit long, but you got to get the ideas. Well, I'm just gonna throw in a few ideas. Health insurance, Um, maybe travel something to travel. So think of like a consultant. You fly places you have to rent a car, etcetera. Um, also just gonna put in gas. The gas would be more like your local, and you need to no drive to each of your clients. Gas probably adds up quite a bit. Ah, Think about your marketing and advertising. Could be anything. Now this You could even break out further if you want. Actually, Let's finish our categories. Then we'll talk a little bit more about marketing business expenses. So things like, um, you know, your business license. You know, you have to renew that every year. Your website. You know, you need a website for your business. So maybe put that under marketing. I don't know that's up to you, but just general business related expenses. Ah, shipping. If you ship anything, probably not if you're consulting their, you know, service based business. But maybe you are service days business that does presentations. And you have to ship some presentation material that one of your clients before you get their taxes. So let's be like your income taxes. I don't get put in a misguided put in a miss category and will kind of capture just a generic mountain there. Alright, guys. So let's, um, you know what? Let's save this when we come back and we're going talk about more about the marketing and then we'll put in our totals 6. Totals and Formatting: Alright, guys. So before we put our toes like I kind of mentioned marketing. So for whatever business you're in, I would break out any type of larger relevant expenses. So if marketing is a big part of what you do, maybe don't just make one line item. That's marketing. Maybe list out. You know, marketing Dash, um, you know, online that are end, then marketing dash, you know, print ads or whatever it might be like try to break that category out a little bit better so you can really track. I mean again, I keep coming back to this, But, you know, the point of this is to forecast forward, um, and see where you land, see if you're positive, negative and areas for cleanup. If you just have one big number here, I mean, you might say, Okay, we need to cut back on marketing. But what aspect of marketing to cut back on. So break out those big categories, if possible. Another business that just came to mind. Just I keep thinking of generic, not generic, but, you know, service based industries, small businesses be like a pool cleaning company. You know the same thing you spend a lot of gas driving around, and you have a lot of cost of service times. You have chemicals we put in the pools you need to buy, you know, probably replacement nets that you bring with you, etcetera. So Ah, pretty much any service. Most service business might have some type of cost of service. Went back to my point, though. Break out any big categories. Something with business expenses. If you have several, your big ones put those in there. Certainly this list is not exhaustive. Every business is going to be unique. So Ah, well, you know, we didn't put in, you know, I put in office in general, so maybe you capture your office. Really? Expenses like your internet in that category. Or maybe you break out, you know, utilities. So you break out your power, your internet, your website. It's a trust up again. It's gonna be completely determined by you. Just remember that quick control plus tip and control minus to add Rose. Alright, guys. So let's I think I've driven home that point. Let's go ahead and put out going cash. Gonna bold it with a control. Be according to highlight. Across and we're going to do so we could do a few things here, guys, Uh, you know, I've already got a highlight. I could do the top and bottom border. Really? What I should have done if I think ahead, this road is gonna be a format. The exact same is this route. I should have just format painted from here and apply it here. Look at that. Perfect. Now I'm gonna show you one other trick, guys, and actually, it's gonna negate our are kind of line here. Um, you saw as I scrolled down, we lose our headers, right? We can't see what month it is. So if we're looking at numbers and here we go What is this July's? It's August. I don't know. We're out here. There's a way to freeze this. So this will always stay on top. Likewise, there's a way to freeze it so that the items on the left are always on the left now. Right now are spreadsheet isn't wide enough that it matters, but say it was super long. So we had two years. You'd see the problem. We lose. What? The line? What? Each night name is over here. So position your mouse or your cursor, I should say, in the cell where you wanted to free. So we want everything left of C and we want everything above wrote to Ah or I should say above row three frozen. So as we move around that will stay there. Do that. Go to, uh, let me think view. Yes, go to the view tab and you're looking for freeze panes. So click freeze panes going to a few things again. Freeze! Just the top row. Get freeze the first column. But really, we want more than that. And we've already put our mouths and our cursor where we want it. If we just hit freeze panes, it takes where you're at that intersection and freezes to the left and above. Now you see what it does is puts him like a light gray shade of the line, and we did lose our kind of solid black line. But that's that's fine. That's just the nature of having a frozen pain. But you'll see now as we scroll down, Rose one and two will always be there. And that's part of two. Why I want to put what are Net cash is that we will calculate eventually on top. So it's just always up there and then you'll see, too. If I scroll to the right to fire those those columns and be just stay there. Alright, guys. So let's put in a totals row and they would probably cut this video off just to be a total in that cash, this is gonna be and again, I'm gonna I'm gonna bold it. So let's you know, I'm gonna copy this one, but we're actually gonna end up changing at a little bit. So I'm gonna do the form a painter to get a start it, But on a total, like a total total like ultimate total, I like to use a specific border. It's kind of an accounting thing. It's a top and double bottom border, and I'll show you what that looks like. One salt one line. But then to double lines strictly comes out of my accounting background. That's how you kind of do note, like a grand total, if you will. Okay, guys. And the other thing. So, while we're busy, formatting is I want to kind of highlight. I want this toe stand out a little bit more. So I'm gonna I'm gonna how, like thes sales are actually going to shade them. And Green is already selected from back when I was doing the intro to excel. And that is kind of what I want. I mean, choose truth way over colors you want. If you don't want to shade it, don't shade it. That's completely up to you. Since we're busy working on shading coloring things, I'm also going to color this top row where we are eventually gonna have numbers. I already know that I want it shaded. So we give that a green. I'm also going to give that a underline just to separate it. Okay, guys, this is starting to look good. So what's next? Well, it's pretty much laid out, right? What? What we need to do now is really make it work is to put in some formula. So that's what we'll do in the next lesson. Start putting and formulas. And then from there, I will put in some test data and make it all work 7. Formulas and Formatting: Alright, guys, let's start puttin formula. So even though we don't have any numbers, I'm gonna type a few in here and these won't actually be. Let's just do one month's worth of numbers. So let's say you bring in 1000 from this service, um, 1500 here and 500 here. It's a smaller thing. So that gives us something the total right. So we want to put in a formula here that says, Add all these things together And now several ways to write formulas in Excel. If you're adding just a few items we could do equals anomalies my mouth, this cell plus this cell plus this self. And if I hit enter, it adds up when you see 3000 which is correct. Now, that's fine for three cells. But now think it down here. We have to add all these. Do I really want to write? Plus plus plus in trouble cells? Not really. So I'm gonna delete this and show you a different way. So two ways to do this, um, same results in terms of formula. If you already have data so which we dio, you can use something called auto summits here on the home tab. It's just a quick shortcut. It looks at the data around the cell that you're in a goes. You probably want to do this, so let's click it and see what it thinks. It's saying you want to some cell C four through C six and it highlights. Um, you're absolutely right. That's what we want to do so we can hit, enter and there we go. So it wrote the formula differently. Ah, the some formula. You are something a range. Do you always tell something with some this range of cells and that's what we're gonna do down here. Now you'll see. Watch what happens if I hit auto Some now with no data there. Auto, some doesn't know what to do. It's saying, Do you want me to just add this number up here? It doesn't know. So I'm a fan. And once you get comfortable with the formulas, I'm just gonna write the formula. I know what the formula is. It's equals some. You open your bracket and then you can use your mouse and highlights. So I want to highlight all these I'm holding. Now that left click, I'm gonna close the bracket, and there you go. So before I hit enter, you see equal some and then the brackets. But see 10 through C 21. We visually see it up above the hit. Enter perfect at zero. If you go to any cell in press F two, that's the edit button that brings it back up. And there you go. So, while we're here, let's go ahead and write this formula and we'll do this formula because then guess what, guys? We could just copy those formulas all the way across. So net cash. What's that gonna be? What's gonna be your income in cash? Less your outgoing cash? Simple enough. So this one we're gonna equals. Let's go up and select this line. Subtract type the minus sign this cell could enter on. There we go. And since we have no data in here, zero obviously and that's perfect. That's it. Save now. Lastly formula for this column and that'll be it for formulas. On January we want I just want to show this number up here again. So, like when we're here, we can't see what our net cash is. The ultimate goal of this is to figure out our net cash. Let's figure out the totals. So let's just show that number up there as well. Now you could have said, Well, why bother? Even calculated here? Very true. You could have left this line out. I think it's more of an accounting thing, you know, Typically, we show a bunch of numbers and show a total at the bottom. Um, you know, But I So I like to do that. And then we'll put it up here as well. So it's really simple. Guys, we just say equals and we don't need to do any math on this number. We just want the number. So just equals that number, and that's it. All right, guys, let's see what the 3.5 minutes. So, uh, first things first, let's see. So we have our formula. So we need to do a couple of things we have to copy. Formulas across also want to form at these numbers. You know, we want dollar signs. Not this. We need to put in some dummy data, So let's start with copying. Let's just go the four different, uh, formulas and get those copied across so there's not really an easy way to do this just because they're kind of separated by other stuff. So we can't just copy and paste the whole thing across. Um, you know, we'll goof up all these headers. Let's just do it. It's not gonna take us long. So if we hit control C or press that hold down our shift key and arrow across all the way and then hit Control V or Click Paste and it's a simple is that guy so that formulas will move their references so you'll see that one is referencing that this one is referencing that etcetera the whole way across. Excel knows to update the formula based on its location. It's the same thing here, this time of scales my keyboard shortcuts. I'm gonna hold control Press see? Hold down, shift arrow across. Hold on Control Present V. I know it's a lot of keyboarding, but when you learn those shortcuts, their second nature like you won't even think about it. Hold control Seed to copy. Ah, air over. Hold down shift an arrow to highlight. Let go of the shift Press control and V to paste. Same last thing here, guys, and you see how quick it happens once you're good at it. All right, so we're up to the five minute mark. I think this is probably a good place to stop, and then we'll finish up. Actually, no. What? No. Let's finish up our formatting really quick, because it's really not too much to left. And then we can start with their data in the next video. So we want all this to be dollar signs, right? This and then everything down here. So let's just take care of this top row first. Um, so we want to be dollar signs, So I like that whole hit dollars. And I'm taking out the sense. I don't like to see them some double clicking on that reduce decibel. Also, I'm gonna bold this top line. I just It's an important number. I mean, that's what we're ultimately gonna be looking at now for down here. All of these weaken Just highlight this whole thing, cause this is all gonna be dollar signs, right? It's not gonna be any other information in here. So hit dollars reduce the decimal twice, and that's done. That was quick. Um, looking at this Looks great. One last last thing I'm gonna do. Just out of what I like. I'm gonna put a left line on that totals column just to kind of separate the total from the rest of it. So if you see that up to you, if you want to put one on the right as well, I typically don't. But, hey, it's whatever is up to you. So when we come back now, that's all. Format it. We got our formulas in were set, guys, we're going to start putting in some information, show you how this operates, and then after that, we'll get to creating some summary data and really looking at it. 8. Test Data: Alright, guys. So we're kind of the data entry point, So really, what you be doing here now? I'm just gonna be entering dummy data. This is obviously just kind of made a company. We don't even know what they do. Um, but so this is where you really need to. So one thing to build this thing now, you really need to think about and be honest with yourself when putting in numbers. So, you know, assuming this is for the following year, you know, and maybe, you know, currently it's the actually end of April. So maybe you would put in actual results up to here, and then he would forecast forward off of those. Actually, I'm thinking of that. We did miss one front. We've got to put it a few more formulas over here. But before we get distracted with that, your job then is to forecast for and be honest with yourself, service one, whatever that might be. You know what do your good months. What are your bad months? You need to be honest with yourself. Put into numbers, etcetera. So putting in good information is what will make this a valuable tool. Ah, same thing when it comes to expenses. So probably what we'll do is we'll maybe enter some stuff for January. Just dummy information. Um, I'm gonna show you the additional formulas willing to put in over here so that it totals across and they will cut this video off and then I'll fill in the rest of the months with information just cause I don't think you guys need to, like sitting, think about, you know, enter information or watch me enter information necessarily. So first things first. Let's let's put in some Demi information. Let's say your rent ISS 500. Ah, your office and general expenses. Maybe budget 100 a month for that cost. The services again completely depends on your business. Maybe you spend 1 50 Pero employees, if you have none at zero if you have a staff, um, and also you have to make the decision. Do you include yourself in here? Do you just wait and see at the end of the month? How much is left? And that's how you pay yourself. So whatever makes sense for your business, um, superior employees say you pay a small staff, you pay them 3000 month. We're probably gonna have to increase. Were already in minus seven fifties. So to make this realistic, we need to make a bit more money. Health insurance. Maybe you pay 400 travel, you budget 500 gas, 200 working advertising. Maybe spent 500 business expenses. Probably not often. Let's just say 100 shipping. I was completing zero taxes, maybe 200. Now, Miss Mrs Ah, it's more of a placeholder. It's just like for things you forgot about or things that might come up a surprise. The way I typically like to think of him. I roughly used 10% of what my total expenses are so so far. Eruptive 5 65 You could do this a couple of ways. You could make this a formula that says, Hey, calculate 10% of the things above it, or just rough it out. I'm just gonna put in 500 I might just use 500 the whole way across, regardless of what the actual month is. So you see, here weren't minus 31 50. So this is not a good month now. That's not necessarily unrealistic. Maybe it's a thing you know, January can be a slow month for businesses. You know, the holidays. The past people are tighter on money. So maybe January is a losing months for you, where you just need to suck it up and you make most your money. Um, in other months, so this could be realistic. You know what? I might just actually leave it like this just to kind of show where there is sort of an ebb and flow to this. Um, so let's do that. Like I said, I will enter test data in the rest of this before the next video. But lastly, though, I need to include a total here and needs to be the total all the way across. Now again, we don't have data, so we can't use our auto some, but we can certainly just write it ourselves. So some air Hold on shift, arrow hit. Enter. And there we go. Um, I can copy this formula down, and it will always move the reference, and I can Then honestly, guys, I can copy that. Same for inland. Just use it right here. And it's a simple Is that so? Not quit. Not too difficult. to enter formulas than that one is adding up to there. And actually, yeah, we don't have any information on that line. So that's correct. And then this is taking that less that correct. And then let's just double check this. It's adding those perfect all formulas in. So, alright, guys, when we come back, I'm gonna have some test data on here for you guys to use, and then we will start looking at building some some Maria's well. 9. Budgeting Basics & Summary Tab: All right, everybody, welcome back. So I went ahead and put in some test data. You'll see, I change the numbers. I just went with low numbers 100. I mean, obviously, if you're running some type of business, I'm sure you're doing more than 2 25 a month, but just for demonstration purposes. And I want you to put in your own real numbers. So just a quick, um, overview about this, you know, again to drive home the point, Really think through your business. So when you think about whatever service one might be, if that's, you know, ongoing clients, no ways of budgeting would be to look at your prior year, see what you did in the prior year and then read some knowledge in that, too. If you've know that you've grown by 50% or whatever it might be, maybe that's how you based your budget. Using on last year's numbers and project forward that way, factoring in some growth. Maybe, you know, you have something happening, so in here in April, you know, it's a 25% increase. Maybe something happens in April. Um, maybe just business in general tends to be better in April. Or maybe you have some commitments that are coming up, you know, clients that are coming on board in April, so you're able to, you know, forecast that and build that into your forecast. Or maybe you have big plans to do a big marketing push in. Ah, whatever given month, you know, it's not budgeted so much in here. I put in a lot of blanks as well. Um, just again, the data itself isn't as important in the test model. It's more to make sure everything's working. It's worth placeholders, and I want you to really think about what information you need to include in your own budget. So at the end of the day, so you'll see what happens here. So we have our totals on the bottom. And of course, we have a lot on top. So January ends up breaking even. We lose a little bit February and March, but then April, May we make money. We lose a bit. It looks like in just starting in July, things really take off. So maybe that's, you know, our season, whatever type of business were in. That's a service business. This is where we make the money, and at the end of the year, we come out 865 ahead. So perfect. Um, in any given month, you can see where you're at, how much you're gonna be bringing in and how much is going out. So another way to use this would be to be honest with yourself, forecast forward. And then maybe you're trying to come up with solutions to problems you're trying to think. Well, when can I afford to hire on additional person? Well, that's probably about July. You know, it seems like July on words. You could afford to have that additional help. But before then, you really you really can't. So unless you have some buffer like cash in the bank already So again, this is just counting your monthly cash. Um, you know, net if you will. What if you're gonna be ahead or behind? So So you're starting the year with a $5000 balance. You know, you could probably afford to hire that person early on, and maybe that helps you turn around some of these months as well. Make things better, but just going with the information that's on this sheet, you know, start making decisions. These air your good months. It looks like things really take off. November is good, uh, extra good. And so nonetheless Ah, there's not much more to say about it other than spend some quality time beyond us with the numbers and plug those in. So next we're gonna be building a summary sheet. So this is good. Like we have a lot of information on here. It's easy to get lost in the numbers two and start really digging in and thinking about each month. And each number they were just want to see by quarter, you know, how do things look? Ah, and that's what I want to do. Some and maybe as well use this report to report to somebody, maybe the Maybe you just run some type of service business, but you have an ultimate owner that you have to report to. So maybe this is your budget that you work off of, but you provide them with a nice summary. So let's get started on the summary. So I just clicked over to the summary tab. Uh, I'm gonna give us one a header a little bit, mingle slightly nights or not that much more exciting. Cash flow budget. I'm gonna do the usual. Gonna bold it. I'm actually gonna make this one just slightly bigger and maybe make it a 14. Okay, so what I want to put on here is, um so we don't want this level of detail basically, So we don't want this level of detail cross nor this level of detail down So But we also don't want it to just be incoming, outgoing and bottom line. So what I'm envisioning is maybe we have our total incoming cash on the top and then for outgoing cash, we kind of group different things. So we may be say, you know, here's our our top three big expenses. Ah, here's etcetera, etcetera. So let's figure that out as we build it. But first of all, let's just start here. So we're gonna want the same format in the sense that will have, you know, a top row here. We'll have a month that will have our total income in cash. So let's skip over. So we know we're gonna have our total incoming cash. Let's just type that actually told incoming cash can give us an anchor to work off of. I'm gonna make this slightly bigger, and then we're gonna have our different quarters. So you have Q one que two Q three q four ah, than a total. Of course. Then here we're gonna have our totals the same way we haven't over here are kind of net total eso for this. We know we wanted centered. Ah, like the bold here. We know we're going to do the kind of similar thing. Bold. Ah, we don't Leslie center that one. But we did do it in green. I'm just kind of preemptively putting in formatting, if you will. Here we're Well, let's go ahead and put in some totals for us. So we're some categories, I should say, Outgoing cash. So how we gonna group this? So let's see. So it makes sense. Rent office expense. Um, so I would almost say these two would be considered together. I would consider cost of goods or cost of services, its own line item. Uh, then maybe we have, Let's see, payroll, health, gas, travel, marketing. So I would almost include these and their own category and then maybe marketing business, shipping this would be other. So this is up to you guys. I mean, you could just copy these categories over as they are. If you just want a total outgoing cash number. You could do that. Um, if you want to try toe, put these in the bucket. So it's like almost kind of group them. I'm having a bit of a hard time distinguishing what would be a good sort of cut off. You know, how do you really break thes? We'd probably have to reorganize some of these if we wanted to be together. Um, like, I would definitely show. So let's actually let's do this. So, even though, in our example the cost of service items aren't that expensive, I could easily see that being an expensive item for your company, right? Potentially. It's either gonna be next to nothing, or it's gonna be a big part of your expense again. You know, the maid service, the pool cleaning business. You know, you have to buy a lot of stuff. That's probably a big expense. Payroll tends to be a bigger expense. So I think here's what I want to do. Guys, I'm gonna show you how to do this and kind of on purpose. I'm picking to that. It just kind of in the middle here. So we're gonna do the detail on this line, this line and then everything else as its own category. So, um, I'm gonna copy these copies names just so they're the exact same over here. And then we're gonna make a category that's just all other expenses. So let's resize this. Okay, so let's see. So let's. Before we start putting in formulas, let's do a little bit of, ah, a little bit more formatting on this, so we'll have a total right total outgoing X cash. We'll have a blank line that will have, ah, total net cash. And then we know this number will be appears. Well, even though here we you know, it's all on one screen, I still just to keep that consistency, I think in the formatting. Um, I see these videos already up to seven minutes that got away. Quick. Let's cut it off here. And that will continue formatting this in the next video 10. Summary Tab Format and Formulas: all right, advice. Let's finish formatting this stop that will put in some formulas, uh, and take a look at it. So let's see here. Okay, so we know this will be total cash. So let's put in our let's see, actually do the slightly different. Or just cause I know how I wanted to look once we're done, So first things first, I'm gonna put little box around here, and I'm gonna use the one that is goes all the way around. So just the outside. Now I know. Also, I want to break off the total so we can just do a left border here or since the sorry highlight, we can hit this, and it'll just re highlight those, which is fine. Just a quicker way to do it. I'm gonna break off the top row, so I'm going to do this. Ah, Also break this into a little section, and then our total income and cash will be our, uh, bottom borders and our top border, like we did over on the other page. If you remember here we had the two double lines and I had escaped just to get rid of that copy. All right. So you see how it's starting to look kind of nice. We'll do the same thing here. We want the top in the bottom, and then on this one, I always like my double one. So we'll put that in. It'll kind of overwrite the you'll see on the bottom. That's total perfect. See how quick that was? We had a nice little format thing going on here. Now, uh, also, let's go ahead and make this green. Okay, So what's next on formula? So most of this was just gonna reference the sheet. So you're gonna do all your data entry here? This will populate itself. So nothing on here, will. You have to enter data for Unless you're obviously updating this to change the quarters or something like that. So the first, the formulas that weaken right up front without any data. So this one's gonna be referencing this sheet, so there's nothing for us to write that's directly on the sheet. Ah, same with this. The state is all going to be pulled from the other sheet, but things like outgoing cash. I mean, we can just that should be a some Remember, some formula of these three net cash will be this number less this number and then this number is are the same as this. Perfect. Now those the only formulas that we can write that reference just things that are on the sheet. So I go ahead and copy this formula over. And if you can hear, If I showed you in the other video, there's a way to pace just a formula. So we don't want to paste the cell format cause it'll goof things up. Since we have everything, format it nicely, Um, we can pace just the formula. And if you drop this down those paste, one of the paste is paste formulas. So we do that, and we're gonna do the same thing here. We're gonna copy this. Gonna highlight across in a pace the formula. Copy. And then so one thing, guys, if you hold down the shift key and click on a cell, it'll highlight everything from where you started To where you end so quick. Way to do that. And paste. Perfect. So these formulas are all in here. If I hit off to you? See, it does that terrific. This references that so great. So far, so good. We also know that we want formulas across. Right? So we want some of these 4/4 and I'm just gonna copy and paste those. Great. All right, so now we need to pull in some data. So before we do that as well, um, let's do one final thing in here, and then we'll in this video, we know we want this all to be dollar signs. We do this before on the other sheets. Let's hit dollars and then backspace to And then we're gonna hit dollars. And I'm actually just gonna go to here dollars in backspace to now. We don't see the decibel moving cause we're having numbers in here, but believe me, it will take care of it. So next things, uh, actually do need to put a total one last formula across here. And for whatever reason, I didn't uh I probably forgot the highlight up that for there we go. Alright. Alright, guys, let's in this video. In the next video, we'll start linking these cells back to our detailed budget 11. Formulas: Alright, guys, let's get some data in here, so incoming cash will be easier. Um, so one other thing with excel, you can write formalism. We've been doing that, but you can also write formulas that reference other sheets you can even write for me was a reference other workbooks. But, um, let's not get that crazy. We're just gonna reference this other sheet. So the way we do that is we hit equals. Now, let's think about this. Actually, second, before we do anything, go over here. This is quarter once. It's going to January, February, March, Right. So we need the total income in cash for here, here and here. So we're gonna ready to form a basis says equals the sum of these three cells and therefore quarter to it'll be these three, etcetera. So let's do that. So we're going to say, equal some open bracket. Now we can come over here and click and just hold down Left, click and hold. Copy that hit. Enter. Enter the toll so I'll share what that for. It looks like it's pretty much the same as before it saying some these cells. But it's also put in where it's at. So it's saying some from the detailed budget tab Cell C 77 that's all it's doing. Honestly, if you just sort of follow that format of just type equal some open bracket, then use your mouse. Go click and highlights. We want April, May, June now hit. Enter. That's all it takes sides. So it's not difficult at all. Open bracket s O B. July, August September Enter. And then, lastly will be this, um, October, November, December. So our total should be 39 to 5 at the end. And it is so that's one way. It's one way to check on something that actually definitely want to check. You want to make sure your reports tie out because you could have easily, you know, highlighted different cells. You know, the wrong cells may be hit September, October, November instead of October, November December. Believe me, it happens very easily. So one a double check up on once it happens. If you have the wrong formula and you don't kind of catch it, it's easy to miss that. But then you're getting misinformation here. Okay, So the same thing here, guys. So, for cost of service items, we're gonna have to some three lines or three columns. So cost of service items for Q one is right here. It's these three. Uh, well, just do each of these individually cost of service. So we need to be careful here. April, May, June. Well, you do see how quick it can go once you get started. So let's see. July, August, September. And that's the right row. Yes. And here we want I baller Total is well in what it should be. So cost the service 300 as our total that we want or three rows down on data, which is correct. And the totals 300. Perfect. Um, other way. You can also double check. This is just scroll across and just look at the reference a c t e row 12 after a tro 12. Ida Caro, 12 Elder and wrote 12 Perfect. That's a some. Now let's do the same for payroll employees. So the exact same thing we're gonna be doing here is just one road down, so we'll do this really quickly. Um, what's the July September on and the throw? So our total should be 95 95 perfect. So we're gonna hit some now. The tricky one is this is all other expenses. How we're gonna handle this. Let's think about this. So we need to add So unfortunately, there stuff above this and below it. So we already have accounted for these two lines to two rows, these two lines, Whatever. Right. So we can't just say say, these were at the top Say, we didn't have this. We could just say equal some and then we could highlight all of these for Q one. But that doesn't work because we also have this now we could write a tricky formula says at all. These plus at all these, it's going to get a little bit hair even. That's not crazy. It's not too bad. But you know there's there's a quicker way to do that. And basically the quick way to do that. As we're going to say, Take our total down here and just subtract thes two. Um, so take that number. Subtract these two and that's what goes in in here. So let's see how that works. If we say equals. So we do still have to summer Wait. I guess I have to some, we have to sum the total that so the total amount closed the bracket, but then subtract out this and subtract out this. Now, let's see what we get for 05 So we can check this a few ways. 1705 should be the total of all three of these, which it is 705 Another handy trick here, guys, if you highlight any group of cells down there on the bottom, right, Excel automatically gives you an average account and a total. Um So without writing a formula, we just highlight those three and it's 705 the other way we can do is highlight all the cells that we were gonna highlight. And that should be 405 which is correct. That's the number for all other expenses. So perfect. Okay, guys, let's just do the exact same thing. So equal some. So we have these three close our bracket, we're gonna subtract out this, we're gonna subtract out this 7 30 fits worthwhile just checking each one. So 4 35 and 7 35 So there's air 7 35 and oops, it's like do following up Mrs Restarted for 35. Perfect. So that matches. Alright, guys, two more times and we're good to go. So you see, how this is made is one way of handling. Like I said, we could have did the other the method that we're basically doing the double check it. Um, I just prefer this way. I mean, all of us have our kind of preferences and excel, if you will. So let's see. This will be July, August, September. Close the bracket. Subtract out this tract out. This, um, for 15 and 715 I do like checking these each time just because it's very easy to get distracted. Catch the wrong data. 415 and 715 Perfect. All right, one last go here equals some. And we're up the six minutes here already. So well, in this video, after we do this close the brackets less this less this and 9055 10. Let's see, 905 And then there's gonna be one final check, guys. 5 10 and then our total expenses should be 30 60 30 60. Perfect. So I feel confident we've captured all the data correctly. Go ahead. Go ahead. Um, I think I mean, we're had a good point. I mean, guys that, you know, I know the city has a little bit of long size, but this is basically now just a nice summary of of the information that's on here, you know, without digging into all the details, we can come here and go. Well, obviously, quarter one's a bit slow. And then we basically pick things up through the year, uh, had cut this video off, and then maybe in the conclusion video will take a final look at the spreadsheet, talk a little bit about it and wrap up. 12. Course Conclusion: Alright, guys. So we build our summary tab. Um, I'll format it. Everything looks good. Hopefully you've found this useful again. So now, really? Now your job is to take this information and analyze that fine tune it. Obviously, first step is to if you build your own model, I applaud you. If you're using this one perfectly great. Also, um, you need to customize this to fit your own need, to be honest with yourself, putting in numbers and then maybe a good place to start is the summary tab and say, Okay, so where's Where's the problems? Well, I'm pretty happy with Q four, obviously. Ah Q one, though we're losing some money. So what can we do in Q one to maybe make a difference? And it's not a lot relatively right. I mean, $30 on Ah, 6 85 Maybe your goal is just to break even in quarter one, because that's just the nature of your business. It's a slower a few months, winter months, whatever the case might be, that causes you to not be as profitable. So again, completely hypothetical situation. But I was trying to give you ideas on how you might approach this. Go ahead and bold this bottom line kind of bothering me. There we go. So, uh, that's that, guys, I'm gonna leave you guys to fine tune this. How you like again? Put in those categories. Enter the correct numbers you need. See how things shake out. Do your own analysis. Um, this template is available for download. It should be attached either to this course conclusion video or just with the course in general. If you had any questions during the course, send me a message. Happy to answer those for you. And I think that's it. Guys, definitely check out my other courses. I have a lot of great courses on us. Things related to small business, entrepreneurship, accounting and finance. Ah, it's that trip. And lastly, if you can, uh, really appreciate if you can leave me a review once you're done the course, it should pop up and prompt to if you want to leave one. If it doesn't, you can do it on the course dashboard. Anything I can do to help out Ah, love answering your questions. Love singer reviews anything I do to help get those five star reviews. Definitely interested in. And that is it, guys. So look forward to being your instructor on. Hopefully some more courses to come. Everybody. Good luck with your businesses.