Automated cash flow template in Excel

Cash Flow Template Excel Featured Image

Written by Aaron Van Goethem

Apr 23, 2021

Good decision-making is crucial for any organization. Therefore, a clear overview of your cash flow provides essential insight to guide that decision-making process.

A cash flow statement is one of the three main financial instruments that investors consider when evaluating the health of a company.

For any company, generating sufficient income to cover expenses is a top priority. Thus, business leaders need a good tracking system to monitor cash flows.

Tracking your financial data is often a complicated process as companies tend to have multiple revenue and expenditure streams. Moreover, when that data is processed by different departments this often leads to mistakes caused by communication issues.

For these reasons, some organizations choose to employ an in-house accounting team to centralize their financial data. However, in many cases, companies still process receipts and payments data manually. As a result, inefficiencies arise. There is a need to automate and standardize this data. Companies can opt to buy expensive financial management software solutions to solve this problem.

However, learning how to use these programs can be as time-consuming for employees as processing the data manually. Besides, sourcing and combining your financial data from different departments across the company remains as difficult as before.

While every organization has a different and unique way of processing its financial data, there is one thing that every organization across the globe is familiar with: spreadsheets.

Combining the power of spreadsheets with the cloud creates the ideal tool for companies to have their cash flow management automated by only using spreadsheets. Sheetgo’s Cash Flow Template in Excel is the solution for automating your workflow.

How to get started

Sheetgo’s Cash Flow Template in Excel is a pre-built system that allows companies to automate their monitoring of cash flow.

It can be used by any organization, regardless of its sector or size. The template gives managers a way to collect receipts and payments data automatically from multiple colleagues or departments.

What is a spreadsheet-based workflow template?

Sheetgo’s Cash Flow Template consists of a group of interconnected Excel spreadsheets that send data back and forward.

Additionally, the template provides managers with the option to share financial data with co-workers without everyone having to work in the same spreadsheet.

A workflow-based system ensures privacy and data security. Moreover, it lets you connect your cash flow data with other information from across the company in a few clicks.

Cash Flow Template Excel Workflow View 1

What you get with Sheetgo’s cash flow template in Excel:

When you install the Sheetgo Cash flow template, three separate Microsoft Excel spreadsheets are saved to your OneDrive account:

  • A Receipts spreadsheet. This file is used by your colleague(s) responsible for recording money coming into the company.
  • A Payments spreadsheet. This file is used by your colleague(s) responsible for recording money leaving the company.
  • A Cash Flow master spreadsheet for the manager, containing automated dashboards. Data flows into this file directly from the payments and receipts spreadsheets, via Sheetgo connections.

How to install the Cash flow template for Excel

Click below to install Sheetgo’s Cash Flow template.

How to use the Cash flow Excel template

  1. Login to Sheetgo with your Google, Microsoft, or Dropbox account.
  2. Click Install on OneDrive or choose your preferred platform from the drop down list.
  3. Please allow a few moments as Sheetgo creates the connections and saves a copy of the template files to your chosen account.

Step 1: Enter your start date and balance

  • Open the Cash Flow master sheet.
  • Go to the Instructions tab and select your start date and start balance.

If you prefer working in the Excel Desktop App, simply click Open in Desktop App.

Cash Flow Template Excel Instructions 2

Step 2: Share the input spreadsheets

  • Share the Payments and Receipts spreadsheets with the colleagues responsible for entering and managing that data.
  • Return to the main Cash Flow workflow.
  • Open the spreadsheets by double-clicking either the Payments or Receipts spreadsheet.

When the spreadsheet opens in a new tab,

  • Click the Share button to share it with the colleague(s) responsible for processing either receipts or payments.
  • Repeat the same process for the other spreadsheet.

Step 3: Start entering your data

Be aware that both the Payments and Receipts spreadsheets contain sample data to give you an example of how to enter your data. Simply replace this data with your own.

Moreover, there are two tabs per input spreadsheet, one with Instructions and another one with either Receipts or Payments. Do not change anything in Instructions tabs of the input spreadsheets.

Cash Flow Template Excel Receipts

Step 4: Update your workflow

The template contains pre-built Sheetgo connections that pull data from the Payments and Receipts spreadsheets straight into the Cash Flow master sheet. Every time you update or “run” the workflow, the data in the master sheet is refreshed with the latest information from the input spreadsheets.

  • To do this manually, open the Sheetgo Cash Flow workflow and click Run.
Cash Flow Template Excel Run

Step 5: Automate your workflow

Now that the system is up and running, automate the entire process. This ensures that you always have up-to-date data in your reports. The Sheetgo connections transfer the data at regular intervals without you having to open a spreadsheet.

  • Instead of clicking Run, select Automate in the workflow tab.
  • Slide the bar to Update automatically and select how often you want updates.
  • Choose to update multiple times a day, once a day or once a month.
  • Next, select your preferred time window and your time zone.

You can see how many updates per month your selection will approximately amount to at the bottom of the settings tab.

Cash Flow Template Excel Automate 6
  • Save your changes when ready and your workflow will now automatically update.

All done!

Congratulations on setting up your Cash Flow template!

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