Microsoft Excel is an extremely powerful tool that every business owner should have in his arsenal. Excel spreadsheets can be used in a number of different ways, some of which include;
- Creating company budgets and cash flow forecasts
- Keeping track of inventory
- Basic business bookkeeping
- Expense and Payroll Modeling
This list can go on almost indefinitely, but I will stop it right there for now. Looking over this with just a few examples of how you can use Excel in your business, it is easy to see how this software can be a great asset in formulating your business plan.
Please check out the video I made below showing how I used Microsoft Excel to create a payroll model for a specific business that pays the greater of an hourly rate or base commissions. I will be making more videos on other uses for Excel and business tips in general so please subscribe.
If you have any questions or comments please feel free to post them below or e-mail me at [email protected]. I hope you have a great day!