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Work Smarter with Financial Forecasting Templates
Creating financial forecasts via spreadsheets can be time-consuming, cumbersome and inaccurate. Thus, SumoSum is excited to announce the addition of a free financial forecasting templates library that empowers our users to save time and boost productivity. Whether you’re a startup, small business owner, financial professional, or nonprofit, SumoSum templates will help you accelerate your forecasting process and allow you to focus on what really matters: analyzing your financial data and convincing funders and your team that your vision is sound. So, let’s dive in and explore the world of financial forecasting templates at SumoSum:
1. Start from a templates library
At SumoSum, while you have the option to start a project from scratch, you can save time by selecting a pre-existing template that’s similar to your project’s circumstances. To do so, just visit the SumoSum Library to explore templates by industry or project type. Each template provides a summary, screenshots of graphs, charts and reports, and reviews and comments by other community users.
2. Clone a template
Once you’ve identified a suitable template, simply clone the template to your project, and within seconds your project will be populated with the template’s Assumptions settings and Charts & Reports. Note that in SumoSum, you don’t drive spreadsheets but rather define assumptions through a checklist settings Assumptions Panel. You also can check Charts & Reports at any time to see visual results of assumption settings, in effect, allowing you to visually shape your financial forecast.
3. Shape your project
Once you’ve loaded a template, tab through the 8 Assumptions Panel categories to iterate your financial forecast. Each section offers key variable settings and dropdown options that act as checklists. Tooltips are present throughout to provide knowledge on an as-needed basis. Footnotes can be entered to justify your assumptions and all Footnotes are carried forward to print reports. Comment sidebars are also available in all sections for multi-users to carry on conversations.
Setup – This section features project variables such as opening cash balance, income tax, sales on credit percentage, credit terms and more.
Products – This section features variables related to product/service offerings, both the expense side and the revenue side.
Assets – This section features variables related to assets such as facilities, equipment, computers, telecomm, intellectual property, land and intellectual property. Note that depreciation algorithms are built into SumoSum so you don’t have to calculate them for Charts & Reports.
Staff – This section features variables related to staff positions such as each employee’s department, title and salary.
Marketing – This section features variables related to marketing initiatives such as consultants, print, web, ads, travel and entertainment.
Admin – This section features variables related to administration costs such as rent, equipment, maintenance, data services, insurance, supplies, postage, travel, and entertainment.
Services – This section features variables related to service costs such as legal, accounting, financial consulting, business consulting, information technology, research & dev, and testing.
Funding – This section features variables related to funding such as equity, loans, grants and donations. Note that this section allows for both for- and non-profit funding sources.
After you’ve completed your financial forecast, consider contributing to the SumoSum community by sharing your forecast template in the Library.
Stop wasting time, use a financial forecast template today
Financial report templates can save you time, boost productivity, ensure consistency, allow for customization, and improve accuracy. Whether you’re a startup, small business owner, financial professional, or nonprofit, SumoSum templates will help you analyze your financial data and convince funders and your team that your vision is sound. So give SumoSum a try. It’s free, fast and easy. Sign Up, FREE! »