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How to Create a Financial Dashboard Template For Excel

Tuesday, May 28th 2024. | Excel Templates

Financial dashboards are an essential tool for any business. They provide a comprehensive overview of your financial performance, and can help you identify trends, make informed decisions, and improve your bottom line. If you’re not already using a financial dashboard, now is the time to start. In this article, we’ll show you how to create a financial dashboard template for Excel that you can use to track your key financial metrics.

Excel is a powerful tool that can be used to create a wide variety of financial dashboards. It’s easy to use, and it’s already installed on most computers. If you don’t have Excel, you can download it for free from Microsoft’s website.

Once you have Excel installed, you’re ready to start creating your financial dashboard template. The first step is to gather your data. This includes data from your income statement, balance sheet, and cash flow statement. Once you have your data, you can start building your dashboard.

Financial Dashboard Template For Excel

Easy to use
Customizable
Real-time data
Variety of charts and graphs
Drill-down capabilities
Shareable with others
Affordable
Time-saving

If you’re not already using a financial dashboard, now is the time to start. With a financial dashboard template for Excel, you can quickly and easily create a dashboard that meets your specific needs.

Easy to use

One of the best things about financial dashboard templates for Excel is that they are very easy to use. Even if you’re not a financial expert, you can easily create a dashboard that meets your specific needs.

Excel is a very user-friendly program, and there are many resources available to help you learn how to use it. There are also many pre-built templates available online, so you don’t have to start from scratch.

Once you have your data in Excel, you can start building your dashboard. Simply drag and drop the data into the cells, and Excel will automatically create charts and graphs.

You can also customize your dashboard to include the specific metrics that you want to track. For example, you can add charts that show your revenue, expenses, and profits. You can also add tables that show your key financial ratios.

Once you have created your dashboard, you can share it with others. Simply export the dashboard to a PDF or PowerPoint file, and then send it to your colleagues or clients.

Customizable

Another great thing about financial dashboard templates for Excel is that they are highly customizable. You can easily change the look and feel of your dashboard to match your specific needs.

Chart types: You can choose from a variety of chart types to display your data, including bar charts, line charts, pie charts, and scatter plots.
Colors: You can change the colors of the charts and graphs to match your branding or personal preferences.
Layout: You can change the layout of the dashboard to include the specific metrics that you want to track. You can also add or remove sections, and change the size and position of the charts and graphs.
Data sources: You can connect your dashboard to multiple data sources, including Excel spreadsheets, databases, and even live data feeds.

By customizing your financial dashboard, you can create a tool that is tailored to your specific needs. This will help you to track your financial performance more effectively and make better decisions.

Real-time data

One of the most important features of a financial dashboard is its ability to display real-time data. This means that you can see up-to-date information on your financial performance at any time.

Live data connections: You can connect your dashboard to live data sources, such as databases and APIs. This means that your dashboard will always show the most up-to-date information.
Automatic updates: Your dashboard can be set to update automatically on a regular basis. This means that you don’t have to manually refresh the data to see the latest information.
Drill-down capabilities: You can drill down into the data to see more details. For example, if you see that your sales are declining, you can drill down to see which products or regions are driving the decline.
Alerts and notifications: You can set up alerts and notifications to be notified when certain events occur. For example, you can set up an alert to notify you if your sales fall below a certain threshold.

By using real-time data, you can make better decisions and respond to changes in your business environment more quickly.

Variety of charts and graphs

Financial dashboard templates for Excel come with a variety of charts and graphs that you can use to visualize your data. This makes it easy to see trends and patterns in your financial performance.

Bar charts: Bar charts are a good way to compare different values. For example, you can use a bar chart to compare your sales by product or by region.
Line charts: Line charts are a good way to show trends over time. For example, you can use a line chart to track your revenue or expenses over time.
Pie charts: Pie charts are a good way to show the proportions of different parts of a whole. For example, you can use a pie chart to show the distribution of your expenses.
Scatter plots: Scatter plots are a good way to show the relationship between two variables. For example, you can use a scatter plot to show the relationship between your sales and your marketing spend.

By using a variety of charts and graphs, you can create a dashboard that is both informative and visually appealing.

Drill-down capabilities

Drill-down capabilities allow you to explore your data in more detail. For example, if you see that your sales are declining, you can drill down to see which products or regions are driving the decline.

Drill-down menus: You can use drill-down menus to navigate through your data. For example, you can click on a region to see a breakdown of sales by product for that region.
Interactive charts and graphs: You can use interactive charts and graphs to drill down into your data. For example, you can click on a bar in a bar chart to see a breakdown of the data behind that bar.
Pivot tables: You can use pivot tables to drill down into your data and create custom reports. For example, you can create a pivot table to see a breakdown of your sales by product, region, and date.
Slicers: You can use slicers to filter your data and drill down to specific subsets of your data. For example, you can use a slicer to filter your data by product or by region.

By using drill-down capabilities, you can get a deeper understanding of your financial performance and make better decisions.

Shareable with others

Financial dashboard templates for Excel are easy to share with others. Simply export the dashboard to a PDF or PowerPoint file, and then send it to your colleagues or clients.

You can also share your dashboard online using cloud-based services such as Google Drive or OneDrive. This allows you to collaborate with others on your dashboard and make changes in real time.

Sharing your dashboard with others can help you to get feedback on your financial performance and make better decisions. It can also help you to keep your team informed about the financial health of the organization.

Here are some tips for sharing your financial dashboard with others:

Make sure that your dashboard is clear and easy to understand.
Use a consistent design throughout your dashboard.
Use colors and fonts that are easy to read.
Avoid using too much jargon or technical terms.
Provide context for your data. For example, explain what the data represents and how it was collected.

By following these tips, you can create a financial dashboard that is both informative and shareable.

Affordable

Financial dashboard templates for Excel are very affordable. In fact, many of them are available for free online.

Free templates: There are many websites that offer free financial dashboard templates for Excel. These templates are a great way to get started with financial dashboards without spending any money.
Premium templates: There are also a number of premium financial dashboard templates available for purchase. These templates typically offer more features and customization options than free templates.
Custom templates: If you need a financial dashboard that is tailored to your specific needs, you can hire a consultant to create a custom template for you.
No ongoing costs: Once you have purchased a financial dashboard template, there are no ongoing costs. You can use the template as long as you need it, without paying any additional fees.

No matter what your budget is, you can find a financial dashboard template that meets your needs.

Time-saving

Financial dashboard templates for Excel can save you a lot of time. By using a template, you don’t have to start from scratch. You can simply enter your data into the template and Excel will automatically create the charts and graphs.

Financial dashboard templates can also save you time by automating your reporting process. For example, you can set up a template to automatically generate a monthly financial report. This can free up your time to focus on other tasks.

Here are some specific examples of how financial dashboard templates can save you time:

Create financial reports in minutes: With a financial dashboard template, you can create financial reports in minutes. Simply enter your data into the template and Excel will automatically generate the report.
Track your financial performance in real time: Financial dashboard templates can be connected to live data sources. This means that you can track your financial performance in real time, without having to manually update your data.
Identify trends and patterns in your financial data: Financial dashboard templates can help you to identify trends and patterns in your financial data. This can help you to make better decisions about your business.
Make better decisions: Financial dashboard templates can help you to make better decisions by providing you with a clear and concise overview of your financial performance.

By using a financial dashboard template, you can save time and make better decisions.

FAQ

Here are some frequently asked questions about financial dashboard templates for Excel:

Question 1: What is a financial dashboard template?
Answer: A financial dashboard template is a pre-built Excel file that you can use to create a financial dashboard. Financial dashboards are a great way to track your financial performance and make better decisions.

Question 2: How do I use a financial dashboard template?
Answer: Using a financial dashboard template is easy. Simply enter your data into the template and Excel will automatically create the charts and graphs. You can also customize the template to include the specific metrics that you want to track.

Question 3: What are the benefits of using a financial dashboard template?
Answer: Financial dashboard templates offer a number of benefits, including:

Easy to use
Customizable
Real-time data
Variety of charts and graphs
Drill-down capabilities
Shareable with others
Affordable
Time-saving

Question 4: Where can I find a financial dashboard template?
Answer: There are many websites that offer free financial dashboard templates for Excel. You can also purchase premium templates from a variety of vendors.

Question 5: How do I create a custom financial dashboard template?
Answer: If you need a financial dashboard that is tailored to your specific needs, you can hire a consultant to create a custom template for you.

Question 6: What are some tips for using financial dashboard templates?
Answer: Here are some tips for using financial dashboard templates:

Use a consistent design throughout your dashboard.
Use colors and fonts that are easy to read.
Avoid using too much jargon or technical terms.
Provide context for your data. For example, explain what the data represents and how it was collected.
Share your dashboard with others to get feedback and make better decisions.

Question 7: How can I get help with using financial dashboard templates?
Answer: There are many resources available to help you with using financial dashboard templates. You can find tutorials, articles, and videos online. You can also contact the vendor of your template for support.

Financial dashboard templates for Excel are a valuable tool for any business. By using a financial dashboard template, you can save time, make better decisions, and improve your bottom line.

In addition to using a financial dashboard template, there are a number of other things you can do to improve your financial performance. Here are a few tips:

Tips

Here are a few tips to help you get the most out of your financial dashboard template for Excel:

Tip 1: Use a consistent design throughout your dashboard.
This will make your dashboard easier to read and understand. Use the same colors, fonts, and layout throughout your dashboard.

Tip 2: Use colors and fonts that are easy to read.
Avoid using bright or flashy colors that can be difficult to read. Use fonts that are easy to read, even from a distance.

Tip 3: Avoid using too much jargon or technical terms.
Your dashboard should be easy to understand for everyone, regardless of their financial expertise. Avoid using jargon or technical terms that may be unfamiliar to your audience.

Tip 4: Provide context for your data.
For example, explain what the data represents and how it was collected. This will help your audience to understand the data and make better decisions.

By following these tips, you can create a financial dashboard that is both informative and visually appealing.

Financial dashboard templates for Excel are a valuable tool for any business. By using a financial dashboard template, you can save time, make better decisions, and improve your bottom line.

Conclusion

Financial dashboard templates for Excel are a powerful tool that can help you to track your financial performance, make better decisions, and improve your bottom line.

Financial dashboard templates are easy to use, customizable, and affordable. They can be used to create a variety of dashboards that meet your specific needs.

By using a financial dashboard template, you can save time, make better decisions, and improve your financial performance.