[FREE] Latest Excel financial planning template 2024

Financial planning is an activity for every business. In the article below, 1C Vietnam has compiled the latest financial plan templates using Excel . With these plan templates, businesses can easily track their financial situation, create budgets, and make business decisions. Let's take a look now!

1. What is a financial plan?

Financial planning is the process by which managers and accounting departments determine the financial needs as well as build the business strategy of the enterprise for a certain period of time. This is one of the key factors in business operations of businesses today.

A business's financial plan usually includes the following main contents:

• Financial goals: Desired financial results such as revenue, profits, cash flow over a specific period of time.
• Financial resources: Including equity capital, loan capital and other resources; Identify available resources and need to mobilize.
• Financial strategy and policy: Specific measures such as capital management, cash flow, and costs to achieve financial goals.

Refer to the example below to better understand financial planning:

Financial goals:

• Revenue: 15 billion VND
• Profit before tax: 2.5 billion VND

Financial resource:

• Owner's capital: 5 billion VND
• Loan capital: 10 billion VND

Financial policies and strategies:

• Marketing: Expanding the market nationwide
• Production: Increase productivity by 2 times

Plan implementation: The plan will be implemented for 5 years, monitored, evaluated and adjusted regularly to suit the actual situation.

Monitoring and evaluation: Use financial indicators to monitor and evaluate the effectiveness of plan implementation.

2. The role of financial planning in businesses

Corporate financial planning, or cash flow planning, is the process of identifying financial goals and developing strategies to achieve those goals. Without a financial plan, businesses easily face failure due to not being able to control cash flow. Therefore, financial planning plays an important role as follows:

• Feasibility assessment: Helps identify differences between expectations and reality in business activities.
• Long-term vision: Support attracting investment and sponsorship from external organizations.
• Control spending: Manage expenses and prioritize budgets for areas that need development.
• Activity measurement: Is the basis for measuring business activities, helping businesses develop more sustainably.
• Financial data: Helps predict investment costs, debt and solvency of the business to avoid financial risks.

3. Download detailed Excel financial plan templates

Below is a summary of Excel financial plan templates compiled by 1C Vietnam. These are selected models with friendly, easy-to-use designs, suitable for most types of businesses in Vietnam. Refer now!

3.1. Financial plan template in Excel for Startup companies

Excel financial plan template for Startups is a tool to support detailed financial planning to attract investment and manage resources effectively. The content of this financial plan template includes:

• Start-up costs: Estimate the costs needed to start production and business activities.
• Financial forecasting: Forecast profits, cash flows and costs in the early stages.
• Capital mobilization strategy: Investment attraction plan and financial management.

DOWNLOAD HERE: Financial plan template in Excel for Startup companies

3.2 Sample 5-year financial plan for businesses

The 5-year financial plan template on Excel is a flexible tool to help businesses make long-term financial plans. Content included:

• Financial forecasting: Forecast profits, costs and cash flow management for 5 years via Excel spreadsheet.
• Graphs and charts: Create charts that illustrate financial trends.

DOWNLOAD HERE: 5-year financial plan template for businesses

3.3 Financial plan template combined with business plan

The Excel financial plan template with a simple business plan is a comprehensive document for small businesses and startups. Content included:

• Business information: Describe history, mission and core values.
• Market analysis: Identify target customers, market needs and analyze competitors.
• Business strategy: Market access strategy and competitive advantages of the business.
• Financial plan: Summary of revenues, costs, expected profits and cash flow.

DOWNLOAD HERE: Financial plan template combined with business plan

3.4 Financial income and expenditure plan template in Excel

The financial income and expenditure plan template on Excel is designed to plan income and expenditure over a certain period of time. The contents in this plan include:

• Income and expenditure plan table
• Income and expenditure analysis table
• Report revenue, profit, costs

DOWNLOAD HERE: Financial income and expenditure plan template in Excel

3.5. Financial contingency budget Excel file

The financial reserve budget Excel file is an indispensable tool for planning and adjusting spending according to fluctuations and risks in today's business environment. This Excel file includes:

• Annual budget: Determine the business's annual spending and income plan.
• Financial Contingency: Analyze data and create contingency plans for emergencies and future challenges.

DOWNLOAD HERE: Financial contingency budget Excel file

4. Principles for building a financial plan

Financial planning does not have a specific mandatory rule, but depends on many factors such as the business field, size and current financial status of the business. However, to ensure transparency and science, most financial plan templates are often established based on certain principles and content including:

• Profit/loss statement: Summarize revenue and expenses to determine net profit or loss.
• Cash flow statement: Describes the flow of cash in and out of the business.
• Balance sheet: Shows the financial status of the business at a specific time.
• Sales forecast: Estimate revenue from sales activities over a certain period of time.

5. Steps to financial planning

Corporate financial planning requires implementation from experts with extensive knowledge and a clear understanding of the company's financial situation. The financial plan needs to be transparent, detailed and specific enough for every member of the organization to understand easily and quickly. Below are the steps to financial planning for your business.

5.1 Research on financial issues

Before developing a financial plan, businesses need to conduct thorough research on current financial issues. Thorough research will help businesses ensure that the plan is built accurately and brings real value. However, it is necessary to focus on identifying core information to avoid wasting time and consuming resources.

5.2 Determine specific financial needs of the business

Each business at different stages of business has unique financial needs. Accurately identifying financial needs creates the foundation for effective financial planning.

To better understand the financial needs of the business, administrators can ask questions such as: What investment categories does the business plan to have in the future? What is the goal of those investment items? How much capital is expected? What are the short-term and long-term goals of the business? These questions will assist administrators in shaping more effective financial plans.

5.3 Search and collect relevant data

A solid input data system is the basis for building an effective plan. Businesses can seek support from data experts to ensure information is collected as quickly and accurately as possible. Some important data include assets, insurance policies, liabilities and pension funds.

5.4 Develop a financial plan

In this step, the business will carefully analyze the major goals in the plan. From there, the financial planner will propose many different options, point out the advantages and disadvantages of each option to discuss and choose the most optimal solution. Criteria for evaluating options need to focus on benefits for businesses and employees, as well as other issues such as taxes and social insurance.

5.5 Monitor and supervise implementation progress

Administrators need to continuously supervise and carefully monitor the process of implementing financial plans to promptly handle arising problems. At the same time, businesses need to regularly re-evaluate the market and investment portfolio to make predictions and prevent risks. When making financial plans, administrators need to check information carefully and with high authenticity, avoid fabricating data to ensure the accuracy of the plan.

6. Effective financial planning and management with 1C:Company Management

Although financial planning templates in Excel are quite popular and are applied by many businesses. However, using this tool has some potential difficulties in updating data as well as flexibility when working with many people.

To overcome those disadvantages, businesses can refer to 1C:Company Management solution of 1C Vietnam with a financial module specifically designed for effective cash flow management. The product can provide the following benefits:

• Powerful system for cash management, bank deposits and multi-currency setup.
• Flexibility in planning income and expenditure in real time and controlling the implementation of the company's financial obligations.
• Manage receivables and payables in a detailed and effective manner.
• Track loans and debts and automatically calculate the principal and interest amounts that need to be paid each period.
• Support for payment of employee advances.

With these features and advantages, 1C:Company Management software promises to bring more convenience and efficiency in the financial planning process for businesses.

Through the above article, 1C Vietnam has introduced to your businesses the latest financial planning templates in Excel as well as instructions on effective planning steps. To optimize time as well as increase the efficiency of the plan, businesses can refer to specialized software such as 1C:Company Management of 1C Vietnam. If you have any questions about the product, please contact us immediately for support.