What’s the purpose of having a monthly budget spreadsheets in your organization? Why don’t we just keep everything in one big file, like an accounting program does? Why do we have to make separate spreadsheets for things like income, expenses, and balance sheet? This is the kind of question I hear from a lot of my peers in the business world. Well, here are some reasons why budget spreadsheets for Excel and Google sheets are important.
Consolidate – When you have multiple spreadsheets, you have to make sure that everything is in the correct columns and cells. If you’re not sure what I’m talking about, how about this example. We have three spreadsheets in our company, with two of them for income and one for balance sheet. We would have to make sure that the information on the income sheet is correct, and the balance sheet is accurate, or else we would have to re-do all the work we did on one of the spreadsheets and start from the scratch. Thus, it is very useful to have one master sheet, which holds all the data on one subject for easy reference.
Monthly Budget Spreadsheet for Microsoft Excel® and Google Sheets
Organize – Having one master sheet makes it much easier to organize your work. You just have to pull out the specific information you need and make sure that you format it correctly. For example, if you want to add a new employee to your payroll team, all you have to do is pull out the necessary details, format it correctly, and then copy and paste the information into the appropriate cells in the employee cell. Once you are done, you can delete the outdated entry and move on to the next person.
Make sure you look into the different options available for these sheets before you decide on anything. Some excel users find it far easier to use the Microsoft version, but Google sheets also offers the same features and more. There is however a great deal of variety available when it comes to the spreadsheets. You should not limit yourself only to using Microsoft Excel and Google Sheets but look around at other spreadsheets as well, because none of them will be as user friendly or as customizable as Microsoft Excel or Google Sheets.
Learn – The budget is an important aspect of your business and knowing how to manage it well will make your life easier. If you are good at managing finances, then you can definitely work on Excel spreadsheets and Google spreadsheets. However, you should never depend solely on these tools for financial work. There is just too much information involved to rely on just one tool.
Keep learning – The more you learn about budget spreadsheets, the more you will learn how to use them. And the more you use them the more familiar you will become with how they work. You do not want to jump into financial work without learning anything about it, because then you will never know when you are in need of certain calculators or other functions. Always make sure that you take the time to learn about your spreadsheets and their capabilities. It will help you make better decisions and will reduce the risk of making mistakes.
Analyze – Analyzing your financial data is very important. Without analyzing it, you will never really know if your money is flowing correctly or if you are wasting your money. Always make sure that you have a data analysis tool on hand so that you can compare your figures against your goals. You may even be able to figure out where the mistakes are being made, which will make it easier for you to correct them.
Learn about spreadsheets – They are not just for worksheets anymore. You can use them for all sorts of projects, such as tracking income or expenses, developing formulas, managing your bookkeeping, tracking your inventory, and much more. You can even learn how to build spreadsheets by themselves if you find that it is too difficult to use Microsoft Excel or another formula-based program. Just make sure that you go through some tutorials and learn about all the features of these programs before actually trying them out. There is a lot of software out there that can make your budgeting a whole lot easier to manage once you get used to it.