Monthly Financial Report Format In Excel

Monthly Financial Report Format in Excel

The monthly financial report format in Excel can help you plan a budget and keep track of your budget as well as your monthly income. It is a very valuable tool for anyone who would like to have an idea of how their money is being spent every month. The report format in Excel is known as the Financial Statement.

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When you have this kind of financial statement, it gives you an overview of your finances. You will be able to understand how much you are spending on mortgages, loans, cars, groceries, entertainment, college tuition, etc.

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The Financial Statement has four columns, which are the Income column, expenditure column, debt category, and the Balance sheet column. You will find that the latter two columns are very important for you to make a proper budget.

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Before you get started with your budget, you will need to know your monthly income. Your monthly income is calculated by adding up all your incomes and subtracting your expenditures.

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There may be some extra payments which you have not paid yet. These will be reflected in the interest and other payments column.

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In addition, there may be certain business expenses that you will not want to include in your budget. The Business expense column is here to let you know what you need to save for your other expenses.

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Accounts receivable will be a recurring expense in your business. You will want to remove this expense from your budget as well as keep it in your daily statements.

These are the expenses that you would like to put on the credit card accounts. It is a major expense, so it shouldnot be included in your monthly budget.

Aside from these expenses, you may also want to add these to your daily statements. These expenses are things like: car payment, bank fees, utilities, store merchandise, taxes, etc.

By taking your monthly income and subtraction of all your monthly expenses, you will know what you have left for each category of expenses. Then you will be able to create a budget that will help you stick to your monthly income.

All of this can be done with Excel, so you don’t have to worry about your budget’s accuracy or your weekly or monthly income, etc. You will be able to create a budget that will help you make a successful business. LOOK ALSO : Monthly Financial Budget Template

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