Enhanced Generic Startup Financial Projection 3 statement Excel Model
Originally published: 29/02/2020 08:27
Last version published: 10/03/2020 08:56
Publication number: ELQ-22581-2
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Enhanced Generic Startup Financial Projection 3 statement Excel Model

User-friendly generic model for preparing a 5-year financial projection for a startup business

Description
PURPOSE OF MODEL
User-friendly Excel model intended for the preparation of a 3 statement (Income Statement, Balance Sheet and Cash flow Statement) 5-year financial projection for a generic start-up business. The model follows best practice financial modelling principles and includes instructions, line item explanations, checks and input validations

KEY OUTPUTS
The model is generic and not industry-specific. The key outputs include:
- Projected full financial statements (Income Statement, Balance Sheet and Cash flow Statement) on a monthly basis across 5 years and summarised on an annual basis
- Dashboard with
o Summarised projected Income Statement and Balance Sheet
o Compounded Annual Growth rate (CAGR) for each summarised income statement and Balance Sheet line item
o List of key metrics including Average revenue growth, Average profit margins, Average return on assets and equity and Average Debt to Equity ratio.
o Bar charts summarising income statement and Balance Sheet projections
o Gross Profit margin by revenue stream in table and bar-chart format

KEY INPUTS
Inputs are split into Income Statement and Balance Sheet Inputs. All inputs include user-friendly line item explanations and input validations to help users understand what the input is for and populate correctly.
Income Statement inputs include:
- Revenue inputs including sales volume, sales prices and average credit terms offered;
- Variable cost inputs including variable cost per unit and average credit terms received;
- Other Costs including staff costs, marketing costs and fixed costs;
- Sales and Corporate tax inputs including rate and payment periods;
- Dividend inputs including amount or percentage of retained earnings and frequency;
Balance Sheet inputs include:
- Fixed Assets including addition amounts and useful life
- Borrowings including addition amounts and interest rate
- Share Capital including initial and subsequent equity investments

MODEL STRUCTURE
The model contains, 7 tabs split into input ('i_'), calculation ('c_'), output ('o_’) and system tabs. The tabs to be populated by the user are the input tabs ('i_Setup' and 'i_Assumptions'). The calculation tab use the user-defined inputs to calculate and produce the projection outputs which are presented in 'o_Fin Stats' and ‘o_Charts’
System tabs include:
- A 'Front Sheet' containing a disclaimer, instructions and contents;
- A Checks dashboard containing a summary of checks by tab.

KEY FEATURES
Other key features of this model include the following:
- The model follows best practice financial modelling guidelines and includes instructions, line item explanations, checks and input validations;
- The model allows for a 5-year projection on a monthly basis and summarised on an annual basis;
- The model is not password protected and can be modified as required following download;
- The model is screened using specialised model audit software to help ensure formula consistency and significantly reduce risk of errors;
- - The model allows for the following number of underlying categories for each line item (these can be easily expanded if required):
o Revenue – 10 categories;
o Variable costs – 2 per revenue category;
o Staff costs – 5 categories;
o Marketing costs – 5 categories;
o Other expenses – 15 categories;
o Fixed Assets – 3 categories;
o Borrowings – 1 facility;
- Costs are split into: variable, fixed, staff and marking costs for better driver-based forecasting;
- Apart from projecting revenue and costs the tool includes the possibility to model receivables and payables, fixed assets, borrowings, dividends, sales tax and corporate tax;
- Business Name, currency, starting projection period are fully customisable
- Revenue, Cost and Fixed Asset descriptions are fully customisable;
- The model includes the possibility to start mid-way through the first projection year;
- The model includes instructions, line item explanations, checks and input validations to help ensure input fields are populated accurately;
- The model includes a checks dashboard which summarises all the checks included in the various tabs making it easier to identify any errors.

MODIFICATIONS
If you require any be-spoke modifications to the tool, we are more than happy to assist with this. Please send us a private message or contact us on: hello@useprojectify.com


ABOUT PROJECTIFY
We are a small team of financial modelling professionals with experience working in Big 4 Business Modelling teams and strong experience supporting businesses with their financial planning and decision support needs. Our aim is to provide robust and easy-to-use tools that follow best practice financial modelling guidelines and assist individuals and businesses with common financial planning and analysis processes.
We are keen to make sure our customers are fully satisfied with the tools / models they purchase and will be more than happy to assist with any questions or support required following or in advance of purchase.
We are also always keen to receive feedback so please do let us know what you think of our products/offering by sending us a message or submitting a review.

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Further information

To assist startup businesses with producing financial projections using a robust user-friendly template

Reviews

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  • Zoe Wraith(last updated: 20/11/2020 13:08)
    5-Year Financial Model
    Clear instructions, the description matched the contents, and easy to update in MS Excel for a five-year financial forecast to support a startup business plan.
  • Pascal Fuh Ngoh(last updated: 22/06/2020 08:05)

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Discussion feed for Enhanced Generic Startup Financial Projection 3 Statement Excel Model

The user community and author are here to help. Go ahead!

  • Nico Thoemmes
    how do i add more rows into the different categories? it doesn't allow me to "insert rows"
    arrow_drop_uparrow_drop_downReply reply
    • Nico Thoemmes
      it says "this sheet is protected"
      arrow_drop_uparrow_drop_downReply reply
      • Projectify
        Hi Nico,
        Thank you for downloading our Startup Projection model, to unprotect any of the sheets go to excel ribbon 'Review' and press 'Unprotect Sheet'

        To add additional categories you need to add from left to right i.e. start off by adding in 'i_Setup' tab then 'i_assumptions' then 'c_Calculations' and finally 'o_Fin Stats'. If you need any support with this please reach out to us on hello@useprojectify.com

        Kind regards
        Projectify team
        arrow_drop_uparrow_drop_downReply reply
        • Nico Thoemmes
          Thanks. I am using it on MS Onedrive as I have a chromebook and apparently "Protect / Unprotect is a feature is something which is not supported by Onedrive. Currently, the only option is to download and then protect/unprotect and then reupload." I cant downoad it and re upload. Can you email me an unprotected version please
          arrow_drop_uparrow_drop_downReply reply
          • Projectify
            Yes no problem, please send me your email address by private message and will do so.
            arrow_drop_uparrow_drop_downReply reply
    • Pascal Ngoh
      Good day, Is there a way to input a formula to calculate a percentage increase in Sales and expenses from the first year to the last year of the projections?
      So that when when you input figures in year 1, it pulls through to all the years of the projections.
      arrow_drop_uparrow_drop_downReply reply
      • Projectify
        Hi Pascal, yes, this can be done. If your Year 1 starts in cell T15 (Jan Y1) and annual growth is 5%, you can include the following formula in cell AF15 (Jan Y2) =T15*1.05 and copy it forward. Any input you include in Y1 will automatically update Y2-Y5. Hope this helps
        arrow_drop_uparrow_drop_downReply reply
        • Perry Gathings
          Hi, in my model, I need to include a different rate of growth for Months 1-6, 6-12, etc. When I try to use the above formula, I receive an error that reads "Only positive amounts, zeros or blanks are expected." How do I overcome this?
          arrow_drop_uparrow_drop_downReply reply
          • Projectify
            Hi Perry thank you for purchasing our startup projection model and for reaching out. As long as the result of the formula is positive (since this relates to sales volume) it shouldn't happen. would it be possible to send us the version with the issue to hello@useprojectify.com and we can have a look
            arrow_drop_uparrow_drop_downReply reply
            • Perry Gathings
              Hi, I figured it out. I had to unprotect the sheet to accomplish what I needed.

              I have another question. My company will collect a 50% deposit when orders are placed and the balance on shipping which will occur 6 weeks later. The Average Credit Terms Offered does not seem to offer this as an option. Is there a workaround? Thanks.
              arrow_drop_uparrow_drop_downReply reply
              • Projectify
                Hi Perry, yes this can be incorporated relatively easily and happy to help with this. Please send us your email address in a private message and we will get back to you via email.
                arrow_drop_uparrow_drop_downReply reply
      • Pascal Ngoh
        Good day, the first year of my financial projections is March, but on Assumptions, it Starts from January. My First Projection Month on i_Setup is 3 (which is March).
        Under i_Assumptions:
        Column M, Start Date (1 Jan 21) is on Cell M1, End Date (31 Dec 21) is on Cell M2.
        Column N, Start Date (1 Jan 22) is on Cell N1, End Date (31 Dec 22) is on Cell N2
        Column O, Start Date (1 Jan 23) is on Cell O1, End Date (31 Dec 23) is on Cell O2
        Column P, Start Date (1 Jan 24) is on Cell P1, End Date (31 Dec 24) is on Cell P2
        Column Q, Start Date (1 Jan 25) is on Cell Q1, End Date (31 Dec 25) is on Cell Q2
        How do I change Columns M, N, O, P, and Q to read:
        Example:
        Column M, Start Date (1 March 21) on Cell M1, End Date (28 Feb 21) on Cell M2
        right through to Year 5
        Column Q, Start Date (1 March 25) on Cell Q1, End Date (28 Feb 25) on Cell Q2?
        Still Under i_Assumptions, on the Monthly Columns, how do I change:
        Column T to read:
        Cell T1 (1 March 21), Cell T2 (31 March 21) = Month 1
        right through to
        Cell AE1 (1 Feb 22), Cell AE2 (28 Feb 22)?
        Columns T to AE = Year 1 (monthly)
        Columns AF to AQ = Year 2 (monthly)
        right through to
        Columns BP to CA = Year 5 (monthly)
        How do I change so that the first month reads 1 March and the last month reads 28 Feb, from Year 1 right through to Year 5?
        Will it be the same instructions to use to fix:
        c_Calculations and 0_Fin Stats?
        Looking forward to reading from you.
        Regards
        Pascal Ngoh
        arrow_drop_uparrow_drop_downReply reply
        • Projectify
          Hi Pascal,
          Thanks for reaching out, the model template is intended for a business with 1/1 to 31/12 financial years. Timeline can be modified to cater for different year end and I will send you a message with more details on this.
          -1arrow_drop_uparrow_drop_downReply reply
        • Zoe Wraith
          Hello team - How do I create a forecast for beyond 2021? I have a business plan that requires Jan 2022 start, however, it is not available in the drop-down selection. Thank you!
          arrow_drop_uparrow_drop_downReply reply
          • Projectify
            Hi Zoe,
            Thank you for reaching out.
            To add 2022 or any other years you can go to tab: i_Setup, then click on Excel ribbon 'Review' and select 'Unprotect sheet'. Once done go to cell M19 (First Projection Year) click on Excel ribbon 'Data' and select 'Data validation'. A window should open up and in 'source' section add ',2022'

            We will shortly upload an updated version of the model with more years included.
            arrow_drop_uparrow_drop_downReply reply
            • Zoe Wraith
              Hello team!

              Thank you for the prompt response. All sorted, I couldn't find the 'ribbons,' but persevered.

              Once at cell M19, I then had to go Data> Data Tools> Data Validation and then the instructions as you mentioned.

              Thank you again and take care!

              Z
              arrow_drop_uparrow_drop_downReply reply
          • Doron Peleg
            Hi, I'm a very small business and trying to buy the product.
            I simply want a spreadsheet that I can work with and send to a couple of my employees for review and update
            From the T&C is unclear whether:
            1) I can simply download it and not use ELOQUENCE application (which I don't need)
            2) do I need more licences to enable my employees to update the file
            3) What do I need to do to simply have a spreadsheet that I can edit as often that I want and enable other people to upload
            NOTE: I run a small IT company. I don't provide any accounting services and have no plans to share the spreadsheet with anyone outs of my team
            Thanks
            arrow_drop_uparrow_drop_downReply reply
            • Projectify
              Hi Doran, thank you for your interest in our startup projection model. Once downloaded the model is available in Excel and does not require an eloquens application to run.
              The excel model is not password protected and can be modified as required.
              To use across your business the business licence would likely suit best. please refer to Eloquens T&Cs for more info:
              https://about.eloquens.com/termsandconditions/
              Please feel free to reach out if you have any further questions.
              arrow_drop_uparrow_drop_downReply reply
            • Pascal Fuh Ngoh
              Please advise, how do I enter more rows in i-Setup sheet for Revenue Streams, Staff Costs, Marketing Costs, Variable Costs, Fixed Costs and Fixed Assets?
              arrow_drop_uparrow_drop_downReply reply
              • Projectify
                Hi Pascal, to add additional categories you need to add from left to right of the model i.e. start off by adding in 'i_Setup' tab then 'i_assumptions' then 'c_Calculations' and finally 'o_Fin Stats'. It is best to add by copying rows and inserting copied rows below the last category. Calculations need to be followed through to cover inserted categories. If you need any support with this please email us on hello@useprojectify.com
                arrow_drop_uparrow_drop_downReply reply
              • Pascal Fuh Ngoh
                Good day, how do I key in the Loan amount in the Assumptions sheet under Borrowing? I can see the "Interest Rate per annum" row, as well as "Interest payment frequency", but no row for "Borrowing amount"? This should be set up to show "interest paid" in the Income Statement section, and also "long term liability" at the end of each year in the balance sheet. Please advice.
                arrow_drop_uparrow_drop_downReply reply
                • Projectify
                  Hi Pascal, thank you for reaching out, the borrowing amount should be included in row 237 of 'i_assumptions' tab (see cells T237 to CA237). In these cells you can include initial borrowing amounts as well as any additions or repayments. Please let us know if this resolves your question.
                  arrow_drop_uparrow_drop_downReply reply


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