By . Tracking Spreadsheet. At Tuesday, May 04th 2021, 00:45:48 AM.
Since this is a residential rental apartment building it makes sense to include rental income in your real estate spreadsheet. Thats obvious. What isnt so obvious are things like interest on tenant deposits, subsidies, tax refunds, etc. When youre building the spreadsheet you need to estimate when those revenues will arrive, and that relates to the number of tenants, the rental rates you charge, how long the lease term is for each tenant, etc. You also need to assume some late payments, evictions, and vacant units. If you havent invested in the area before this can be a challenge. You can gather data on that by speaking with local real estate agents, lenders, and tax agencies, or subscribe to an industry database that covers the local area. In most locations you also need to consider taxes. Are these charged up-front? As part of the mortgage loan payments? How frequent are they? When do they actually need to be paid? Are there any accounting costs? Can you use any tax credits or breaks? How do you calculate depreciation if that is a tax deduction? Taxes can be quite complex and you need them in your calculations or your investment value estimates will be incorrect.
However, as weird as that may sound, it is one of the ways that a spreadsheet can help speed things up in the office. Especially if the employee has been working on spreadsheets for a long time that making fast calculations using the cells has become second nature to him. But there are other good uses for this application. You can track revenues and expenses. That is why spreadsheets are often used by accounting professionals. Even if you are the owner of a small business, you can greatly benefit out of using a spreadsheet. Just imagine logging all of your financial data on a ledger and making the calculations and comparisons manually or even with the use of a calculator. It would probably take you hours to finish everything wherein with a spreadsheet software you can do it in just a few minutes.
One of the best features that are included in the wedding budget spreadsheet is the contingency column. This allows you to allocate about 10% of the wedding budget to unforeseen expenses that may arise during the planning process. This will cover anything that goes wrong. The contingency is only supposed to be used in case of an emergency and not to increase the number of items you will have at the wedding. The money can be used in case the flowers you ordered for are not delivered in time and you have to order others. A wedding budget spreadsheet can either be in PDF form or excel depending on your preferences. There are various sites on the internet that offer the spreadsheets and you can choose the one that is includes all the items that you intend to have at the wedding. Some of them can be customized to suit your specific wedding needs.