Keeping data in separate but connected spreadsheets ensures that the system functions smoothly.
Individual team members or departments enter data into their own spreadsheet.
What is a spreadsheet-based workflow template?Ī standard spreadsheet template is a single file containing tables, charts, layouts, and formulas.
Thanks to the power of the cloud, you can use a cash flow template to create your own automated system that works just like a piece of custom software - entirely in spreadsheets. Nonetheless, there’s one thing that every company in the world has in common: spreadsheets. Worst of all, the time-consuming task of sourcing and combining data from across the company can remain a problem.Įvery business has unique financial management processes. But these programs come with a hefty price tag. Financial management software can help, especially when you want to create smart reports and visualizations.
Data is often processed by different departments, resulting in communication delays and a lack of standardization.Įven if you have an in-house accounting team, collating receipts and payment data is often still a manual task. This makes it difficult to centralize information. Sales proceeds, investments, operational costs, taxes, debt repayments … most businesses have multiple revenue and expenditure streams. To track this, you need a system to accurately monitor the flow of money in and out. For your business to be viable, it must generate enough income (receipts) to cover outgoings (payments). And a cash flow statement is one of the key documents that lenders and investors take into account when assessing the general health of a company. Keeping an eye on your cash flow is essential for making good business decisions.