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Using Facebook How to write e-commerce traveling bag Business plan How to write an e-commerce traveling bag Business plan Why An executive summary is a Conversion Metrics The 14 most essential Conversion Metrics to track using The appropriate sales tax percentages can be entered in the Sales Tax section of the Assumptions sheet. The template provides for 4 default sales tax codes, each with its own sales tax percentage.
The sales tax codes are numbered from V1 to V4. The income statement contains codes in column A which affects the calculations of sales tax and trade receivables or trade payables. The first two characters of these codes determine which sales tax percentage is used in the sales tax calculations.
If an income statement item needs to be excluded from sales tax calculations, you should use a sales tax code with a zero percentage on the Assumptions sheet. Note: Each line on the income statement can therefore only be linked to one sales tax percentage. If more than one sales tax percentage needs to be applied to the same income statement item, you need to split the income statement amount into two lines and enter the appropriate sales tax codes in column A for each of the lines.
Note: If you are preparing cash flow projections for a business which is not subject to sales tax, simply enter zero percentages for all four sales tax codes. The sales tax assumptions that need to be specified on the Assumptions sheet also include the frequency of sales tax payments in months and the calendar month of the first payment period. You can therefore calculate sales tax based on any period frequency from one to twelve months.
Example: If your business is subject to sales tax payments of every two months and the first payment is due in February, a frequency of 2 needs to be specified and the first payment month should be set to 2 for February. Similarly, if your business is subject to sales tax payments of every 6 months with payments due in March and August, the frequency should be set to 6 and the first payment month should be set to 3.
If your business is subject to monthly sales tax payment periods, the frequency should be 1 and the first payment month should also be 1. The Current or Subsequent setting in the Sales Tax section on the Assumptions sheet determines how the calculated sales tax amounts of the current period are handled.
If you select the Current option, the sales tax amounts of the current period will be included in the calculation of the payment amount which is due in the particular month and the sales tax liability at the end of the payment month will be nil. If you select the Subsequent setting, the sales tax amount of the current period is not included in the calculation of the payment amount and the sales tax liability at the end of the appropriate payment month will always include at least one month.
Note: The Subsequent setting is usually the appropriate setting to use for sales tax purposes. The Current settings is more applicable to tax types which are subject to provisional tax. Example: If you set a payment frequency of 1 month, first payment month of 1 and select the Current option, the sales tax liability on the balance sheet will always be nil because the current month's sales tax will be included in the sales tax payment.
If you have the same period settings and select the Subsequent option, the sales tax liability on the balance sheet will always include the current month's sales tax because the payment amount will be based on the previous month's sales tax.
Note: The first payment month setting refers to the month of payment and not the sales tax period end. There is a difference - a sales tax period may end in February with payment in March which means that the first payment month of the calendar year is actually January or month 1 if the payment frequency is two months.
Note: Sales tax payments are included in the appropriate weekly period based on the payment day that is specified on the Assumptions sheet. The payroll accrual on the balance sheet is based on the payroll accrual assumptions in the Working Capital section of the Assumptions sheet and the amounts in the staff costs section of the income statement. If payroll deductions are paid in the same month as they are incurred, you can set the payroll accrual percentage to zero and the payroll accrual balances on the balance sheet will also be zero.
Staff costs have been included in a separate section on the income statement to make it easier to calculate payroll accrual balances. You can however include staff costs in operating expenses but you need to ensure that you also include the "PAY" code in column A for all the staff costs that you want to include in the payroll accrual calculations.
You also need to specify the appropriate percentage of staff costs which needs to be included in your payroll accruals. This percentage should be based on the percentage of staff costs which are paid in a subsequent month and is based on the current month's staff costs.
You therefore need to calculate the appropriate payroll accrual percentage based on the composition of the salary or wage structures of all employees. The payroll accrual assumptions that need to be specified on the Assumptions sheet also include the frequency of payroll accrual payment periods in months and the payment month of the first payroll accrual period.
You can therefore calculate payroll accruals based on any payment period frequency from one to twelve months. The calculated payroll accruals are added together in the payroll accrual balance until the month of payment. Example: If you need to settle payroll accruals every two months and the first payment is due in February, a frequency of 2 needs to be specified and the first payment month should be set to 2 for February. Similarly, if you settle payroll accruals every 6 months with payments due in March and August, the frequency should be set to 6 and the first payment month should be set to 3.
If you settle payroll accruals on a monthly basis, the frequency should be 1 and the first payment month should also be 1. The Current or Subsequent setting in the Payroll Accruals section on the Assumptions sheet determines how the calculated payroll accrual amounts of the current period are handled. If you select the Current option, the payroll accrual amounts of the current period will be included in the calculation of the payment amount which is due in the particular month and the payroll accrual balance at the end of the payment month will be nil.
If you select the Subsequent setting, the payroll accrual amounts of the current period are not included in the calculation of the payment amount and the payroll accrual balances on the balance sheet at the end of the appropriate payment month will always include at least one month.
Note: The Subsequent setting is usually the appropriate setting to use for payroll accrual purposes. The Current setting is more applicable to tax types which are subject to provisional tax payments where payment occurs in the same month as the tax calculation.
Example: If you set a payment frequency of 1 month, first payment month of 1 and select the Current option, the payroll accruals on the balance sheet will always be nil because the current month's payroll accruals will be included in the payment calculation.
If you have the same period settings and select the Subsequent option, the payroll accruals on the balance sheet will always include the current month's payroll accrual because the payment amount will be based on the previous month's payroll accrual. Note: The first payment month setting refers to the month of payment and not the payroll accrual period end. There is a difference - a payroll accrual period may end in February with payment in March which means that the first payment month of the calendar year is actually January or month 1 if the payment frequency is two months.
If you want to include payroll accruals based on variable weekly payroll accrual percentages, you can do so by changing the payroll accrual percentage assumption in the Workings section of the balance sheet which has been included below the section with the ratios.
Simply replace the formula which links the payroll accrual percentage assumption to the value on the Assumptions sheet by overwriting it with the appropriate payment accrual percentage. Note: Payroll accrual related payments are included in the appropriate weekly period based on the payment day that is specified on the Assumptions sheet.
The calculation of income tax on the income statement is based on the profit before tax on the income statement and the assumptions that are specified in the Income Tax section on the Assumptions sheet. The profit before tax amount is multiplied by the income tax percentage on the Assumptions sheet in order to calculate the weekly income tax value. If there is a loss before tax on the income statement, no income tax will be calculated but if there were profits before the period with the loss, the income tax that was calculated in previous periods will be reversed in the period with the loss.
The template also makes provision for the inclusion of an assessed loss which has been carried over from previous financial periods and income tax will only be calculated after the assessed loss has been fully reduced by profits in the projection periods. The income tax assumptions on the Assumptions sheet also include the frequency of payment of income tax in months and the calendar month of the first income tax payment.
You can therefore calculate a provision for income tax based on any payment period frequency from one to twelve months. The calculated income tax amounts are added together in the provision for income tax balance on the balance sheet until the month of payment.
Example: If you need to settle income tax liabilities every six months and the income tax payments are due in February and August of each year, a frequency of 6 needs to be specified and the first calendar month should be set to 2 for February. Similarly, if you settle income tax liabilities at the end of each quarter with payments due in March, June, September and December, the frequency should be set to 3 and the first payment month should also be set to 3.
If you need to settle income tax liabilities 9 months after each year-end and the cash flow projection year-end is February, the frequency should be set to 12 months and the first payment month should be set to The Current or Subsequent setting in the Income Tax section on the Assumptions sheet determines how the income tax amounts of the current period are handled. If you select the Current option, the income tax amounts of the current period will be included in the calculation of the payment amount which is due in the particular month and the provision for income tax balance on the balance sheet at the end of the payment month will be nil.
If you select the Subsequent setting, the income tax amounts of the current period are not included in the calculation of the payment amount and the provision for income tax balance on the balance sheet at the end of the appropriate payment month will always include income tax for at least one month. Note: The Current setting is usually the appropriate setting to use for income tax purposes if the entity is a provisional taxpayer which effectively means that income tax is paid in advance.
If the entity is not a provisional taxpayer, the Subsequent setting should be used because income tax will be settled after being incurred. The calculation of dividends on the income statement is based on the profit for the year on the income statement and the assumptions that are specified in the Dividends section on the Assumptions sheet.
Dividends will only be calculated if you enter a dividend percentage on the Assumptions sheet - if you therefore do not want to include dividends in your cash flow projections, you can simply enter a zero value as the dividend percentage.
The dividend percentage that is specified on the Assumptions sheet is applied to the profit for the year on the income statement which can be found directly above the dividends line. Dividends will also only be calculated if there is a cumulative profit for the year. The dividends assumptions on the Assumptions sheet also include the frequency of payment of dividends in months and the first calendar month of the dividend payment.
You can therefore calculate dividends based on any payment period frequency from one to twelve months although 6 or 12 months is the norm. The calculated dividends amounts are added together in the dividends payable balance on the balance sheet until the month of payment. Example: If dividends are declared every six months, you need to specify a frequency of 6 months on the Assumptions sheet and then select the appropriate payment basis.
Dividends will be reflected on the income statement every 6 months and the dividends payable balances on the balance sheet will be determined based on the first payment month and the payment option which is selected Cash, Next or Subsequent.
Similarly, if the payment frequency is set to 12 months, dividends will be included on the income statement every 12 months and the dividends payable balance will be determined based on the first payment month and the payment option. The Cash, Next or Subsequent setting in the Dividends section on the Assumptions sheet determines how the dividends payable balances on the balance sheet are calculated and therefore also when the dividend payment will be included on the cash flow statement.
If you select the Cash option, the dividend payable balances on the balance sheet will always be nil and what this means is that the dividend payment is effectively included in the same month as the month in which the dividend is declared.
The month in which the declared dividend is included is based on the payment frequency in months and the cash flow projection year-end. If you select the Next option, the dividend payment will be included in the month after the month in which the dividend amount is included on the income statement. The dividend payable balance on the balance sheet will therefore only contain a balance in the dividend declaration month.
If you select the Subsequent option, dividends will be included on the income statement based on the frequency setting on the Assumptions sheet and the payment of the dividend will be delayed until the first payment month also as per the Assumptions sheet is reached.
A dividends payable balance will be reflected on the balance sheet in all months until the payment month is reached. Example: If you set the dividend payment frequency to 12 months, a dividend amount will be included on the income statement in the last month of the appropriate cash flow projection year.
If the payment option is set to Cash, no dividend payable amount will be included on the balance sheet and the dividend payment will be included on the cash flow statement in the same month. Example: If you set the dividend payment frequency to 12 months and the payment option is set to Next, the dividend will be included on the income statement in the last month of the appropriate cash flow projection year, the dividend payable at the end of the financial year will equal the income statement amount and the dividend payment will be included in the first month of the next financial year.
Example: If you set the dividend payment frequency to 12 months and the payment option is set to Subsequent, the dividend will be included on the income statement in the last month of the appropriate cash flow projection year and the dividend payable at the end of the financial year and all subsequent months in the new financial year until the first payment month is reached will equal the income statement amount.
The dividend payment will be included in the first payment month as set on the Assumptions sheet but in the year after inclusion on the income statement. If the cash flow projection year-end as per the above example is February, the first payment month is set to 9 for September and the Subsequent payment option is selected, the dividend will be included in February on the income statement and the same amount will be included as a dividend payable on the balance sheet from February to August of the next financial year.
The dividend payment will then be included in September on the cash flow statement and the dividend payable at the end of September will be nil.
Note: Dividend payments are included in the appropriate weekly period based on the payment day that is specified on the Assumptions sheet. The template has been designed in such a way that the balance sheet should always be in balance as long as the total of the balance sheet opening balances which are included on the Assumptions sheet is nil. If you see an imbalance on the balance sheet, you therefore need to check the opening balance sheet balances on the Assumptions sheet and ensure that the total of all the opening balances in this section is nil.
If fixing the opening balances does not resolve your imbalance, you can e-mail our Support function and let us know what changes you have made to the formulas in the template so that we can assist you. If you have made a lot of changes, you may need to start over with the downloaded copy of the template. We have included all the calculations which form part of the calculation of balance sheet balances in the Workings section below the balance sheet ratios.
These workings will not be printed and are for information purposes only. You can therefore hide this section if you do not want to see it on the sheet but do not delete any of these formulas because it will result in calculation errors if you do!
All the rows on the cash flow statement which require user input are indicated with yellow highlighting in column A. All the other rows contain formulas which automate the calculations of these items which are all based on income statement or balance sheet values.
The input rows on the cash flow statement are all related to balance sheet items where the calculations on the balance sheet are based on adding the movement on the cash flow statement to the previous week's balance on the balance sheet. If you need more guidance on any of these items, refer to the appropriate section for the particular item under the Balance Sheet section of these instructions.
Note: The colour of the codes in column A on the cash flow statement indicate whether positive or negative values need to be entered in order to increase the appropriate balance sheet item's balance.
If the code is green, positive input values increase the balance sheet balance and if the code is red, you need to enter negative values in order to increase the balance sheet balances. The template makes provision for including loans with up to four different sets of repayment terms in the cash flow projections. Open and edit with your favorite chosen app or program. Be at the helm of your business by always being updated on the state of your finances by using this template now!
This daily cash sheet template is the perfect record keeper for the daily cash balance for your business. It is compatible with Google Docs , so you can edit and share online with your business partners if and when necessary.
Get the above template to craft a financial statement that summarizes the amount of cash and cash equivalents entering and leaving a company. It helps you keep a check on your income and expenses, making it easier to know where to cut down on expenses and where you can increase the incomes for the growth of your business.
Cash Flow Statement Excel Template s. Creating a Cash Flow Statement: Creating a cash flow can be a tough job since there are two methods you can follow- the direct and the indirect methods. You can follow the steps mentioned below to make it easier for you to create the right kind of a cash flow statement for your organization: 1. Calculate the Beginning Cash Equivalent The first thing you need to do is to know what your ending cash balance or the previous year was.
This way, you will know if there is any left from the previous year which you can use this year for any extra expenses that might take place.
Free cash flow analysis templates will help you get a better idea of how to make the most of the templates that are available online. Then, you would have to establish the cash balance of the present year. Add the value, so you get the right value for your cash flow statement.
Income Generated from Operations Net income plays an important role in the cash flow statement. Gather basic documents and data that are required to make the perfect cash flow statement for your business.
Make adjustments for the accounts you have to pay and receive cash from. Make a list of the cash net income you get from basic operations and deals done in your organization. This way you will know the depreciation reduction of value of an asset over time and you can adjust it accordingly.
Cash Flow from Investing and Financing You must mention the investments in capital. Mention the impact of financing and investing activities. Make adjustments wherever required in the two departments, so you can know where to cut down costs. Tax plays a major role in the cash flow statement, so make sure you mention it without fail. Balance sheets, income statements, and other information should be mentioned in the cash flow statement that needs to be mentioned.
Calculate Ending Cash Equivalent In the ending cash flow balance, you would have to mention whether there was an increase or decrease in the net cash. Calculate the ending cash equals and compare them to the previous year. This way, you will know whether there was an increase or decrease in the expenses. Mention if there are any effects of changes in working capital and what would those be.
List down all the current assets and liabilities without fail. Evaluation The last and final step would be to evaluate where your company stands now. This way, you will know the operating, investing and financing activities of your company.
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