The Best Free Financial Planning Excel Sheets

Haleema Qayyum


Haleema Qayyum

The Best Free Financial Planning Excel Sheets

Table of Contents

The Financial Excel sheet or dashboard is a powerful tool to visualize information. So, a great-looking Excel dashboard can improve the way you use and get a sense of your data.

Therefore, dashboards are great for a lot of tasks, not only to display the achievements of a company. If we have enough data with that, we can take more efficient steps.

Financial Excel Sheet Template

Primarily, our goal is to focus on data visualization, not data entry. So, when you develop and create complex reports and templates with multiple worksheets, you must keep your eyes on the navigation structure.

Therefore, we’ll use three Worksheets: data, calculation, and dashboard – this is the industry standard if you are in dashboard design. Download our free spreadsheet templates if the task is simple.

Build Financial Excel Sheet Template / Dashboard

Check our financial dashboard template! You can keep your daily, weekly, monthly produce record on a dynamic dashboard! You can track the primary financial metrics month by month.

Also, show comparisons and trends using modern chart types, grid layouts, and intelligent navigation structures.

The included metrics and groups are efficiency, liquidity, and profitability. Our template combines regular reports of financial information with charts of economic measures.

The excel dashboard provides a logical and easily editable structure. You can put your raw data into the ‘Datasheet. Next, apply some calculations on the ‘Calc’ sheet. Finally, show the result on the main dashboard sheet.

If you are looking for a clean dashboard to take a quick overview, you are in the right place at the right time. So, by using this template, you can easily communicate the result with your staff. For example, you can measure Incomes, Expenses, Net profit, etc.

All-in-One Personal Financial Excel Sheet

First up is my all-in-one, dashboard-style excel sheet. In general, this sheet puts all your personal financial information in one simple, printable excel sheet. The personal finance excel sheet has

  • Personal Balance Sheet: This is simply a listing of all your assets and liabilities. It totals up to give you personal net worth.
  • Personal Income Statement: This includes your income and all your recurring expenses. While this isn’t a full-blown budget, it will help you visualize what you “have to” pay each month.
  • Financial Goals: It’s essential to keep your financial goals in mind when your net viewing worth and income vs. expense.
  • Online Log-in Credentials: If you’re worried about security, you don’t have to use this section, but I like to have all of my log-in information in one spot so that my wife can pick up the pieces if something happens to me. This excel sheet will help you:
  • See your entire personal finance situation all in one spot. I believe a necessary starting point for making the most of your finances is to know exactly where you’re starting. This sheet will give you that view.
  • Help a loved one in the case that something happens to you. If you’re the one source of financial knowledge for your family, you need this sheet or something like it stored away safely if something happens to you so that your family can take control of your finances.

Dashboard Example

You will learn how to create a dashboard using key metrics. This Excel dashboard will show you how to enhance your story using key performance indicators.

Good to know that you can edit the template freely. A great KPI template is simple: create a proper layout and build a wireframe. Then, pick your key metrics carefully!

Let us see the main steps:

  • First, you need to clean, group, and sort the data.
  • When it is done, use the name manager. It can help you to define a range
  • Dynamic dashboards in Excel are great! Using option buttons, form controls, and small macros, you show an extensive data set in a small place.

You will learn how the OFFSET function works. It is a volatile function, but this is one of the best ways to create a Microsoft Excel dynamic list.

This excel dashboard allows you to transform data into an advanced template! Get information about various levels, from overall contact canter performance to departments and sales representations.

We already know that processing a vast data set is not easy. Discover how to convert the results of outgoing calls into an advanced dashboard template!

Navigation Structure and Ribbon Control

The structure is clean. If you are using a grid layout, you’ll provide the best user experience. We’ve used advanced chart types and a grid layout in Excel for better readability.

Icons can control the dashboard and the central sheets from the ribbon. When you develop and create complex reports and templates with multiple worksheets, you must keep your eyes on the navigation structure.

You will use three Worksheet to construct your Financial Excel Sheet:

  • Data
  • Calculation
  • Dashboard

Financial Excel Sheet: Metrics

Financial KPI (Key Performance Indicator) is a measurable value that indicates how well a company is generating revenue and profits. In addition, monitoring KPIs shows whether a business is achieving its long-term goals.

Regardless of the size, age, and industry, every company needs to be conscious of its financial performance.

While accountants deal with all the expenses, income, and budgets, the company’s leadership also needs to be informed about critical financial measures. Following are some popular Financial KPIs for Your Financial KPI Dashboard;

1. Operating Cash Flow (OCF)

OCF shows the total amount of money generated by a company’s daily business operations. The financial metric hints at whether a company can maintain a positive cash flow needed for growth or external financing to cope with expenses.

Operating cash flow is calculated by adjusting net income for depreciation, inventory changes, and accounts receivable. Analyzing your operational cash flow compares it to the total capital employed to evaluate whether your business produces enough money to keep the accounts positive.

2. Current Ratio

The current ratio reflects an organization’s ability to pay all the financial obligations in one year. This financial KPI considers a company’s existing assets, such as account receivables and current liabilities, such as account payables.

How to evaluate your Current Ratio: A Current Ratio of less than one indicates that your company will not be able to fulfill all financial obligations unless there’s an additional cash flow.

A healthy Current Ratio is between 1.5 and 3. Still, it’s not infrequent for businesses to have Current Ratio periods under 1, significantly if they invest in growth or accumulating debt.

Investors like to use the Current Ratio to indicate whether a company has a healthy operating cycle. A too high CR may suggest that the company has many assets and cash but fails to invest in innovation and growth.

3. Quick Ratio / Acid Test

The acid-test ratio indicates whether a business has sufficient short-term assets to cover its near-future liabilities. The Quick Ratio gives a more accurate overview of a company’s financial health than the Current Ratio as it ignores liquid assets such as inventories.

4. Burn Rate

This financial KPI reflects the Rate at which a company spends money weekly, monthly, or annually. This fundamental metric can benefit small firms that do not undertake extensive financial analysis.

Compared with Net Profit Margin and Revenue, the Burn Rate indicates whether the organization’s operating costs are sustainable in the long term.

5. Net Profit Margin

This metric shows how efficient a company is at generating profit compared to its revenue. Frequently calculated as a percentage, this KPI indicates how much each dollar earned by the company translates into profits.

The Net Profit Margin reflects on a business’s profitability and shows how fast it can grow in the long-term prospect (Net margin = net profit / revenue.)

6. Gross Profit Margin

The Gross Profit Margin measures the proportion of money left over from revenue after accounting for the cost of goods sold. This metric is an excellent indicator of a company’s financial health, indicating whether a business can pay its operating expenses while having funds left for growth.

Usually, organizations have a relatively stable Gross Profit Margin figure unless they’ve done some drastic changes affecting the production costs or undergone a difference in the pricing policies. (Calculated as: costs of goods sold / revenue)

7. Working Capital

The Working Capital KPI measures an organization’s currently available assets to meet short-term financial obligations.

Working Capital includes assets such as available cash, short-term investments, and accounts receivable, demonstrating the business’s liquidity (the ability to generate money quickly).

Immediately available cash is known as Working Capital. Analyze financial health by reading available assets that meet short-term financial liabilities.

Working capital, calculated by subtracting current liabilities from current assets, includes assets, such as on-hand cash, short-term investments, and accounts receivable.

Working Capital is calculated by subtracting current liabilities (financial obligations) from existing assets (resources with cash value).

8. Current Accounts Receivable

This financial KPI measures the amount of money owed to a business by its debtors. The Current Accounts Receivable metric helps estimate the upcoming income and calculate the average debtor days, showing how long it takes for an average business partner or client to pay back their debtor.

A high Current Accounts Receivable metric might indicate that a business cannot deal with long-term debtors and lose money. If people or companies don’t pay their bills, they’re considered to be in default.

9. Current Accounts Payable

Opposite to the receivables, the Current Accounts Payable metric indicates a business’s sum to suppliers, banks, and creditors. It can be broken down by business departments, divisions, and projects, to have a more detailed overview of current payables.

To calculate the Current Accounts Payable, organizations need to consider all liabilities that must be paid in a particular time frame.

10. Accounts Payable Turnover

This financial KPI indicates that an organization pays its average payable amount to suppliers, banks, and other creditors.

Here’s how to calculate the Accounts Payable Turnover: Let’s say a company makes a $10 million value of purchases from suppliers in a month and at any given point has the remaining Accounts Payable of $2 million. That means that the Accounts Payable Turnover is $10 million / $2 million = 5.

If the turnover ratio is falling compared to previous periods, it might indicate that an organization has trouble paying back its debt. If the turnover rate increases, a company is paying back its suppliers faster than before.

11. Accounts Payable Process Cost

The Accounts Payable Process Cost indicates the total cost of processing all payments and invoices in a particular period.

A look at APQC’s survey results on accounts payable (AP) process productivity suggests a solid case be made for investing in electronic invoice presentment, processing, and payment.

(EIPP) technologies as they significantly lower the cost of processing invoices and paying to suppliers.

12. Accounts Receivable Turnover

The Accounts Receivable Turnover shows a firm’s effectiveness in collecting debts and extending credits. If a company maintains a large open bill for a customer, it’s like giving away an interest-free loan instead of using the money to grow the business.

To calculate the Accounts Receivable Turnover, companies need to divide the net value of credit sales during a given period by the average accounts receivable during the same period.

(The calculation is very similar to figuring out the Accounts Payable Turnover: net value of receivable=credit sales/accounts)

13. Inventory Turnover

The Inventory Turnover KPI indicates how efficiently a company sells and replaces its inventory during a particular period. So, it reflects an organization’s ability to generate sales and quickly re-stock.

There are two formulas for calculating the Inventory Turnover:

Inventory Turnover = Sales / Inventory

Inventory Turnover = Cost of Goods Sold / Average Inventory

14. Budget Variance

Budget Variance is also a frequently used project management KPI, indicating how projected budgets vary compared to actual budget totals. The metric is used to evaluate whether the budgeted or baseline expenses or revenue meet the expectations.

A minimal budget variance indicates that the actual expenses are equal or lower than the projected ones, or the revenue is higher than anticipated.

On the other hand, a significant budget variation is usually caused by too optimistic forecasting or poor leadership decisions.

15. Budget Creation Cycle Time

The Budget Creation Cycle Time indicates the period used to research, plan and agree on a company’s budget. A long budget creation cycle isn’t necessarily destructive, but it might use valuable resources like the leadership’s time.

Financial Dashboard Metrics
16. Line Items in Budget

The line items in a budget help managers and project leaders keep track of expenditures in more details. Moreover, the line items can signify projects, business departments, or other accounting measures to understand better where the money is spent.

Whereas, a detailed budget makes it easier for a company to address the proper departments and projects when cutting the funds.

17. Number of budget iterations

The higher the number of budget iterations, the more time it takes to plan a budget and get it right. The number of budget versions produced before the final approval depends on the leadership’s ability to arrange the next term’s account efficiently.

According to a survey, the top 25% of participants had an average of 4 budget iterations, while bottom performers are used to 9 budget versions before the final approval.

18. Payroll Headcount Ratio

This financial metric shows how many team members are engaged in payroll processing compared to the total number of employees. In addition, the Payroll Headcount Ratio indicates the number of employees in an organization supported by one dedicated full-time employee.

Calculate the Payroll Headcount ratio; businesses need to find the Ratio of HR full-time positions to the total number of employees.

19. Sales Growth

This financial metric displays the change in total sales generated over a certain period. The Sales Growth shows the percentage of the current sales period compared to the previous one, indicating growth or decrease in total sales.

20. Days Sales Outstanding

The DSO metric displays the average number of days clients must pay a company – from receiving the invoice until the full payment. So, the lower the DSO is, the more a company can grow and order additional supplies.

21. Vendor expenses

This financial KPI shows the company’s current payments due to vendors (Anyone who provides goods or services to an organization or individuals). So, high vendor expenses might indicate that the business has trouble paying its vendors and suppliers on time.

22. Payment Error Rate

The Payment Error Rate displays the percentage of incoming or outgoing payments that were not completed due to a processing error. Frequently, the reason for failures is a lack of approval, poor documentation, or a missing reference.

So, if a company’s Payment Error Rate increases over time, it may indicate that it’s time to review the payment processing system.

23. Internal Audit Cycle Time

The Internal Audit Cycle Time shows the average period required to perform a full internal audit. Mainly, this number considers a company’s leadership and stakeholders that need an overview of the budgets, expenses, payments, etc.

24. Finance Error Report

This financial metric displays the number of economic reports requiring further clarification or containing errors, necessitating a review and a more detailed investigation.

25. Return on Equity

This KPI indicated the capacity of a business to use shareholders’ investments efficiently, generating high profits. So, the Return on Equity shows how much revenue a company generates for each unit of shareholder equity.

26. Debt to Equity Ratio

Similar to the Return on Equity metric, this KPI shows how effectively a business uses its shareholder investments. Therefore, a high Debt to Equity Ratio indicates that an organization is losing assets and accumulating debt instead of generating new profits out of investments.

27. Cost of Managing Processes

Business departments can track this financial KPI to measure the cost of managing people’s work and planning for the future. So, the lower the cost of managing processes, the more assets are left for implementing tasks and growing the company.

28. Resource Utilization

Though, for some companies, the employee’s time is the most valuable asset. They also bill the customers. Therefore, that is true for creative agencies, law firms, and other service-based business models.

Resultantly, the resource utilization KPI indicates how effectively a company uses its resources (time), comparing the billable time vs. non-billable work. It can also be used on a project dashboard to better overview project performance.

29. Total Cost of the Finance Function

The Total Cost of the Finance Function displays the total cost of financial activities compared to the total revenue. It is displayed in the Financial excel Sheet.

An organization’s economic prices include personnel, managing systems, overhead, and any other expenses necessary for the finance organization’s day-to-day operation.

So, according to an APQC benchmarking survey, the best-performing companies have the average Total Cost of the Finance Function of 0.6%, while the bottom 25% has the average Total Cost of 2.0%.

So, enterprises that want to improve this metric must embrace modern technology and software to automate and optimize their business processes.

Now that you’re familiar with the concept of all essential financial KPIs, it’s time to set up a financial KPI dashboard to track and measure your company’s economic performance.

So, if you’re new to the business dashboard world, here’s a helpful resource for getting started and creating your first KPI tracking dashboard: The Complete Guide to KPI Dashboards.

Frequently Asked Questions

What should be on a Financial Excel Sheet?

Eight metrics includes in a finance dashboard or Financial Excel Sheet:

• Firstly, budget-to-actual.
• Secondly, the Sales pipeline.
• Cash flow
• Compare to the past.
• Peer benchmarks.
• Industry performance metrics.
• Long-term value drivers.
• Lastly, current initiatives.

What’s a dashboard in a Financial Excel Sheet?

The Excel Dashboard is used to display extensive data tracks overviews. Therefore, Excel Dashboards use dashboard elements like tables, charts, and gauges to show the outlines.
In addition, the dashboards ease the decision-making process by offering vital parts of the data in the same window.

What is a KPI in finance?

Key performance indicators (KPIs) refer to a set of quantifiable measurements used to gauge a company’s overall long-term performance. So, KPIs specifically help determine a company’s strategic, financial, and operational achievements, especially those of other businesses within the same sector.

What is the purpose of a dashboard?

Dashboards are a data visualization tool that allows all users to understand the analytics that matters to their business, department, or project.
Even for non-technical users, dashboards will enable them to participate and understand the analytics process by compiling data and visualizing trends and occurrences.

What is a dynamic dashboard?

A Dynamic Dashboard enables multiple users to access a previously accessed dashboard only by a single static user. So, that means a specific user can use the dynamic dashboard alongside a logged-in user and display data particular to both users.