You may download a pdf of the My Fast Financials Lite User guide here:

  MyFASTFinancials Lite User Guide

Or read on …
Getting Started

Platform

MyFASTFinancials Pro is a spreadsheet template built for Microsoft Excel.  You need not own the latest edition of MS-Excel.  It will run on at least the last two versions.  The template may run on other platforms (i.e. Open Office or Google Docs) that will load an .xls file – but we support its use only on MS-Excel.

MyFASTFinancials Spreadsheet Structure

The spreadsheet is organized into 6 worksheets, each of which is a separate tab.  You will see something like this.

Typically you will not see all 6 tabs, but you can scroll through them with the arrows on the left.

3 Input Worksheets

MyFASTFinancials Lite uses 3 input worksheets where you will enter your venture’s data.

1. Begin Here
2. Income Statement Input
3. Balance Sheet Input

3 Financial Statement Outputs

From those inputs, the template automatically produces 3 financial statements.

1. Income Statement
2. Balance Sheet
3. Cash Flow

Color Coded and Protected Cell Input

The cells you need to input are colored light blue.  All other cells are protected from input.  If you were to change the data in other cells, you could likely break the automatic linkages between worksheets.

Input Worksheets

1. Begin Here

Here you Input your company name, starting year, and names for your revenue and cost of sales accounts (for those who want to name them something other than “revenue” and “cost of sales”).

Also enter the average number of days you believe it will take to collect from your customers, and the average number of days you will take to pay your vendors.  For example, if you receive cash (or immediate credit card payment) for a sale, just enter “0”.  If you usually pay somewhere around 15 days after getting an invoice, enter “15”.  These answers will help determine your cash flow.  Your answers don’t need to be precise – don’t overthink them – just come close!

2. Income Statement Input

Enter your monthly Revenue and COS (cost of sales), Expenses, Depreciation and Amortization, and Interest on debt

3. Balance Sheet Input

Here you will information about your venture’s assets and liabilities.

MYFASTFinancials will fill in some figures automatically, but you will need to fill in the expected year end balances for all other accounts for all three years.

Your entries will be combined with the calculated Cash and Retained Earnings balances and posted to your Balance Sheet.

Output Worksheets

1. Income Statement

The Income Statement presents a simple summary for all three years.

2. Balance Sheet

The Balance Sheet presents year end data for all three years.

5. Cash Flow

This worksheet presents a standard Statement of Cash flow.  All numbers for the year end cash flow activity are automatically calculated from your Income Statement and Balance Sheet inputs.

THANK YOU for using MyFASTFinancials!