Charmain Mayssa March 15, 2021 Spreadsheet
I love spreadsheets. I use them for everything I can and every kind of organization. I, honestly, don‘t know what I would do without them or what how I used to cope before I first discovered them. I use a spreadsheet to balance my checkbook, to manage my business expenses, and to make ‘To Do‘ lists to plan out my days. I also use spreadsheets to manage my money and set my financial goals.
Since this is a residential rental apartment building it makes sense to include rental income in your real estate spreadsheet. That‘s obvious. What isn‘t so obvious are things like interest on tenant deposits, subsidies, tax refunds, etc. When you‘re building the spreadsheet you need to estimate when those revenues will arrive, and that relates to the number of tenants, the rental rates you charge, how long the lease term is for each tenant, etc. You also need to assume some late payments, evictions, and vacant units. If you haven‘t invested in the area before this can be a challenge. You can gather data on that by speaking with local real estate agents, lenders, and tax agencies, or subscribe to an industry database that covers the local area.
To know if a household budget spreadsheet software is user‐friendly, try several programs online and see which ones are easy enough to use by people with basic budgeting and computer skills. The layout of the spreadsheet should not only be easy to understand, but also be able to present all the necessary information in a glance. It should contain just the right number of graphics and details to avoid confusion for its user.
Another important feature of a household budget spreadsheet program is the flexibility to allow the user to enter all elements of the family budget. It must allow some space for the income sources, expenses, and utilities. That way, you can plan your family‘s finances more efficiently. You can find several home budget spreadsheets with standard add‐ons such as calendar, calculator, savings planner, and credit card manager. The spreadsheet software you will use depends on the add‐ons that you think are suitable to your budgeting needs.
You can create an account and upload your spreadsheet in about five minutes. If your first line in the spreadsheet contains your field names, you are just about done. You can easily sort any column quickly by clicking on the arrow icons. You can quickly locate duplicate records, create a mail merge template and forms for your Web site, all with just a couple of clicks of the mouse. Custom reports are simple, and what‘s more, they can be distributed via email to your collaborators on a set schedule. Adding different collaborators with various discrete permissions is very straightforward, and in about 30 minutes you can have a project setup and working with your team.
A further small complication might be if at the discretion of the small business owner additional information was required from the bookkeeping records to indicate the totals of the different types of products and services then additional columns could be incorporated to enter the net sales figures in these columns. There it is then, a simple list of sales invoices to satisfy the sales accounting requirements for a small business where a balance sheet is not required.