How to Create IT and Software Finance Template in Google Sheets
The IT and software industry does not just earn money from computers. They also earn money from mobile gadgets as well. With the huge amount of revenue this industry earns every year, it's best for business owners to track where the money goes. Financial templates can help in accomplishing this task. Google Sheets is one of the applications that lets you easily draft financial templates without any hassle.
If you need a guide in creating financial templates, read our helpful tips below.
1. Know the Kind of Template
Decide on the kind of template that you want to make. Finance templates can range from budget sheets, receipts, invoices, etc. Take notes on how to make the template. These notes will serve as your guide later on.
2. Get Info
Get the right information based on the template that you want to make. For budget sheets, you need to have a breakdown of the expected expenses of the company. Make sure that you have the right numbers too.
3. Calculate the Numbers
Open a blank document on Google Sheets. Decide how many rows and columns you want to use. On top of each column, write a category for your data. Every row must also have a name. Put all the numbers on the blank cells and get its total using formulas. For templates such as receipts and invoices, make sure that you don't forget any detail.
4. Check the Document
Check your document to see if there are missing details. Review the numbers and make sure that these are calculated correctly.
What are financial templates?
Financial templates are documents that guide users in creating different financial statements, strategies, or plans for the company. Different financial tasks are carried out through these types of templates.
What are some examples of financial templates?
Some of the examples of financial templates are:
1. Budget reports
2. Expenses trackers
3. Financial reports
4. Purchase requests
5. Cash flow statements
6. Balance sheets
7. Income statements
8. Business plans
What are the benefits of using financial templates?
Financial templates help in generating a budget and tracking the expenses of a company. These templates also help in managing the company's debts and regulates its financial resources. Budget templates, invoices, and receipts also keep records of how the money comes in and goes out of the company.
How much is the revenue of the software industry?
According to Statista, the revenue of the software industry in 2018 is $456 billion. It is expected to increase in 10 years time since most people rely on software found in devices for daily activities. More appliances, devices, and even wearables, will become incorporated with software in the future.
Are IT and software related?
IT or information technology is the use of devices, such as computers and software, to achieve efficiency. Software, on the other hand, are the programs installed inside a computer. Although these two may seem similar, they're very different from each other.