This template allows you to monitor and forecast out cash flows for a specified number of days. The current date defaults to today’s date but you can override it manually but if you do the formula will be gone.
You can also change the number of days you want to look in advance. For instance, you may only want to look at the cash you expect to have available for the next 7 days, 14, or however long you want.
First you will want to populate the current balance for each of the accounts. Right now they are hard-coded cells but you can certainly add formulas to populate this. The input section is on the second page of the Summary tab (scroll to the right if you do not see it on your screen)
The cells above in yellow are ones you can edit. The ones in grey are formulas and need to remain the same as they are used in the chart.
There are three main sections in the chart:
– Funds Available
– Upcoming Transactions
– Outstanding Checks
Funds Available is simply a formula to show what cash on hand is expected at the end of the forecasted days. It looks at the current bank balance, deducts upcoming transactions, as well as the current outstanding checks. A positive number indicates the account will have cash remaining at the end of the period. A negative amount indicates that not enough cash is in the account to accommodate all the upcoming expenses and checks to be cashed.
Upcoming Transactions are populated from the Recurring Transactions tab.
You can specify if a recurring transaction recurs monthly or annually. Based on this, along with today’s date, it will calculate the next occurrence of the transaction.
Further down on the Summary tab you can see a breakdown of the largest upcoming expenses on the left-hand side for all the banks and bank-specific transactions on the right-hand side. The yellow cell indicated below can be toggled to another bank and you will see transactions just for that bank. Both of these tables will only show expenses that fall within the date range you specified (e.g. if you specify only the next 7 days, it will only show expenses up until that date).
The Outstanding Checks are fueled by the individual bank tabs. Each tab allows you to list any checks you have outstanding along with their amounts. Note that if you change any of the bank names on the input section you will also have to rename the tab. If the tab name does not match the bank name, the checks outstanding will not populate.