Anyone that has to enter payroll into their accounting software and/or calculate it each month will benefit from this Excel template. It is completely editable and easy to use for anyone. The goal is to provide a really organized way for any Accounting department to clean up how they calculate payroll and track it vs. budget.
There are clear instructions in the first tab as well as in the video. Be sure to watch that and read first.
The template is designed to be able to work across many pay periods. There is a 'template' tab that the user can pre-fill with static data (employee names / budget). Then, to add new pay periods, simply make a copy of the 'template' tab, rename it to the relevant period and then enter the payroll data into that new tab. There is no limit to the amount of tabs but I would suggest doing one year's worth of information per workbook.
Each tab is designed to be self-sufficient and doesn't have formulas or references to anything outside of the given tab. This improves user function and makes it hard to mess anything up.
Some nice features about this template include:
- Up to 30 slots for hourly-based employee wages
- Up to 30 slots for salary-based employee wages (included function for bonuses/commissions)
- Report on multiple pay periods over time
- Track budget vs. actual (per employee and in total) per period
- Visualization to show budget vs. actual results for the period
- Show annualized payroll based on each period as a percentage of expected annual revenue
- Conditional formatting to show when a given employee exceeds budget
- Conditional formatting to show if total payroll expense exceeds total budget
- Activity-Based Costing Model
- 13-Week Cash Flow Planner
- Sales and Purchases on Account - 3-Statement Helper
- Job Bidding
- Cost Segregation Study
- Financial Statement Generator
- Accounts Receivable and Payable Tracker
- Budget vs Actual Planner
- WACC Calculator
- Equipment Purchase Cost Benefit Analysis
- 3-Statement Financial Model - For Startups
- Tracking Billable Hours
- Volume Discount Pricing
- To-Do List Tracker
- Inventory Template for a 3-Statement Financial Model
- Profit / Loss and Cash Flow Tracking in Real Time
- Break-even Analysis
- Cash Conversion Cycle
- COGS Inventory Template - (FIFO Based)
- Depreciation Expense Tool
- Depreciation Recapture Calculator
- Expense Tracker
- Financial Statement KPIs
- Google Sheet Inventory Tracker
- Inventory Reordering Planner
- Inventory Restocking Cash Flow Management
- Job Costing
- KPI Dashboard - General Contractor
- Lending Business or P2P Lending Participant
- Project Management
