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The Excel Budget Spreadsheet
Price: $39.99
For Excel 2010, '13, '16, '19, Microsoft 365 (including 365 for MAC)
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cash forecasting video transcript:
In this video, we're going to go over the cash forecast tab. If you look at the cash forecast, seems like a pretty simple layout. You enter the anticipated day of the transaction, the description of what it is and whether it's a positive or negative amount at this point, you're just estimating what you think you're going to pay.
I get paid by your employer. What's your credit card bills going to be, as you throw in your transactions, you'll get familiar with, uh, Hey, this credit card payments coming up and I know the amount and you can put that amount in here. The point of this is it pulls in your checking account balance. Which will show up over here.
So any financial account that has the word checking beside it. So if I change this account here to be checking, when I go to cash forecast, it's going to show up here. Now you can choose to include that in your beginning balance or not. So if I come here. Yes. Now my beginning balance is a combination of both of these accounts.
If I just want the one account I clicked no there, and now it's just the balance of this account. The whole point of this is it takes the day, the last day that you updated your bank account. So if you look at PNC and the transactions here, this last updated on 2 28, if you remember when you. Worth the transactions.
You're importing them into, you're putting them in the import tab and you're reconciling to your bank account. So the assumption is that the last day that was posted, you were reconciled as of that day. So this would be your reconciled bank account balance. And now it's going to take the forecast items that you put in here from that day forward.
So see how. It goes from the 20th to the 29th, the 30th, and then starts over at the first and worst suspect. The way up to the 26. That's the power of the spreadsheet because now I have my bank balance. I know a credit card payments, Hinton, and I can see all right, I still have a positive amount in my bank balance.
I'm going to get paid. No, I'm at 4,000 3,900. Oh yeah. I usually take out money in the first of the month. I get paid I'm on my side to say you have a spouse that's working. Let's say that's a different amount that's getting put in there. Just fix these real quick. So you can just change the estimated amounts here.
And the whole point is you can see what your bank balance will be based on your anticipated transactions. So let's show. Changes. If let's say the last time I had inputted a PNC transaction, it was March 10th. I'm gonna put that in here. We're not going to the cash for. See how it changed. It went now it's saying, Hey, you were reconciled as of the 10th 4,700.
The next item in your cash forecast tab was the 14th, which was a credit card payment, probably a second credit card. And it goes through and predicts what your bank balance is going to be. So that's the. Of this tab is when you change the date, it's going to start from that date forward and reorganize these and re add up what's your balances by day based on those dates.
So see how now it's going from the 10th up through the 30th, and then starting back over at the first. So you can add as many items as you want. And. And, uh, get as detailed or as, as high level as you want. And the whole point is to be able to see what's going on with your bank balance. The other thing is a total of all the activity I have in here is 108, $198, uh, to the negative.
Um, so if you want to make sure that you were, um, spending less than you're making, this is, uh, another place that you can keep an eye on that keep in mind. I don't have every type of. Spending money on because that's covered in the credit card payment. So I might've bought a variety of things and that's the total bill and for purposes of cash forecast, I just need to know what the total bill was, all the categories and everything that I spent would be showing up here in the summary tab.
So that about sums up the cash forecast. One more time. I just want to show you see how this goes from the 10th to the 14. Going to change that last day back to what it was, which is the 28th. And now watch, it's going to go from 28th, 29th, 30th. If you're in here and you change one of these, so say this, uh, It gets, had the wrong date on it.
I'm going to put the 30th, see how it didn't reorganize. You can hit refresh forecast. And now that's up here, puts it up at the top. It starts over at the first. So I, I have found this extremely helpful. I don't like keeping a lot of money in my bank. And I also don't like bouncing checks. So I find this very helpful to make sure that, uh, the amount of money in my bank account is going to be adequate for the bills that I know are coming.
All right. That ends, uh, this video and thank you for being Excel, your finances customer.
Click here for more video :https://www.xlyourfinances.com/videos.html
I get paid by your employer. What's your credit card bills going to be, as you throw in your transactions, you'll get familiar with, uh, Hey, this credit card payments coming up and I know the amount and you can put that amount in here. The point of this is it pulls in your checking account balance. Which will show up over here.
So any financial account that has the word checking beside it. So if I change this account here to be checking, when I go to cash forecast, it's going to show up here. Now you can choose to include that in your beginning balance or not. So if I come here. Yes. Now my beginning balance is a combination of both of these accounts.
If I just want the one account I clicked no there, and now it's just the balance of this account. The whole point of this is it takes the day, the last day that you updated your bank account. So if you look at PNC and the transactions here, this last updated on 2 28, if you remember when you. Worth the transactions.
You're importing them into, you're putting them in the import tab and you're reconciling to your bank account. So the assumption is that the last day that was posted, you were reconciled as of that day. So this would be your reconciled bank account balance. And now it's going to take the forecast items that you put in here from that day forward.
So see how. It goes from the 20th to the 29th, the 30th, and then starts over at the first and worst suspect. The way up to the 26. That's the power of the spreadsheet because now I have my bank balance. I know a credit card payments, Hinton, and I can see all right, I still have a positive amount in my bank balance.
I'm going to get paid. No, I'm at 4,000 3,900. Oh yeah. I usually take out money in the first of the month. I get paid I'm on my side to say you have a spouse that's working. Let's say that's a different amount that's getting put in there. Just fix these real quick. So you can just change the estimated amounts here.
And the whole point is you can see what your bank balance will be based on your anticipated transactions. So let's show. Changes. If let's say the last time I had inputted a PNC transaction, it was March 10th. I'm gonna put that in here. We're not going to the cash for. See how it changed. It went now it's saying, Hey, you were reconciled as of the 10th 4,700.
The next item in your cash forecast tab was the 14th, which was a credit card payment, probably a second credit card. And it goes through and predicts what your bank balance is going to be. So that's the. Of this tab is when you change the date, it's going to start from that date forward and reorganize these and re add up what's your balances by day based on those dates.
So see how now it's going from the 10th up through the 30th, and then starting back over at the first. So you can add as many items as you want. And. And, uh, get as detailed or as, as high level as you want. And the whole point is to be able to see what's going on with your bank balance. The other thing is a total of all the activity I have in here is 108, $198, uh, to the negative.
Um, so if you want to make sure that you were, um, spending less than you're making, this is, uh, another place that you can keep an eye on that keep in mind. I don't have every type of. Spending money on because that's covered in the credit card payment. So I might've bought a variety of things and that's the total bill and for purposes of cash forecast, I just need to know what the total bill was, all the categories and everything that I spent would be showing up here in the summary tab.
So that about sums up the cash forecast. One more time. I just want to show you see how this goes from the 10th to the 14. Going to change that last day back to what it was, which is the 28th. And now watch, it's going to go from 28th, 29th, 30th. If you're in here and you change one of these, so say this, uh, It gets, had the wrong date on it.
I'm going to put the 30th, see how it didn't reorganize. You can hit refresh forecast. And now that's up here, puts it up at the top. It starts over at the first. So I, I have found this extremely helpful. I don't like keeping a lot of money in my bank. And I also don't like bouncing checks. So I find this very helpful to make sure that, uh, the amount of money in my bank account is going to be adequate for the bills that I know are coming.
All right. That ends, uh, this video and thank you for being Excel, your finances customer.
Click here for more video :https://www.xlyourfinances.com/videos.html
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