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Modern invoice template excel for small businesses

what's up youtube this is your boy michael coming back with some more entrepreneurial content today we're going to be talking about how you can use excel for your side hustle or your small business and we're going to do that right after the intro i'm an entrepreneur i'm an entrepreneur so there's four different reasons why you should use excel for your small business or your startup number one it's fairly easy to use even if you don't have an extensive amount of knowledge on how to use the functions and things like that for the most part it's really simple number two it's actually an affordable option instead of you going out and having quickbooks or another business out there to actually do your bookkeeping and it's easily accessible the third thing is going to be it is robust so even if you are a beginner and you're novice to actual excel you can get things done and then if you want to grow or if your knowledge grows you learn different functions and things like that excel actually has a lot of different things that it can do for your business uh from you being able to share it over the web and things like that it is very robust when it comes to its capabilities and last the reason why you should use excel is if you have a smaller operation so if you are a smaller business you have a little side hustle and you just want to manage let's say like 20 to 30 different transactions or you have one bank account maybe two it's really straightforward because you're not managing a whole bunch of data but i think if you have a bigger operation you have a bigger business i think it's important for you to invest in something else outside of excel now let's get into the how so what i'm going to do is i'm going to take you guys into my computer and we're going to go over quite a few different functions so let's head over to the computer right now hello everyone i want to welcome you to the inside of my computer as i said in an intro we're going to be going over quite a few different not only functions but just some formatting tools that you can use in excel for your startup business and i will do other videos that i go in detail of these individual things but the goal of this video is for me to actually just give you a light description of how to use these also created an example spreadsheet that will be available for free download so if you do like what's in here then you can actually just go in and download it and it has all of the functions and uh formatting tools that i used or that i showed you it's actually using them so let's just jump right into it the first one is going to be table and data excel is known for its table capabilities once you actually have data or information that is important to you in a table format it's going to make it a lot easier for you to navigate it sort it and do all these different things with it so i'm going to show you how to basically organize data in excel so that you can then turn it into a table so then you can get all of the great features that comes with actually having the table formatted as that okay so whenever you are creating a table you want your columns to be the headers of whatever the table is and you want that to be the description of what's going to be below that so for me i own a graphics and printing company so something that i would create a table for is going to be let's just say the items that i'm selling the next one is going to be cost next one is going to be sales price so what am i selling it to my customers for the next one is going to be the profit of that and then is there a profit is going to be the question that i'm going to ask and then i'll show you guys because this is going to be one of the other functions when we get down this is basically the headers of the table that i'm creating and then below that i'm going to enter in some information so the first one is going to be hoodie below that i'm going to have shirts because like i said i own a graphics and printing company so i do print apparel the next one is going to be crewneck this is what i sell a lot of and then last and final one is going to be a hat okay so now i would go in and i would put in the cost that it takes for me to actually acquire and get these items so hoodies i get those for 10 bucks shirts i get those for five crew necks i get for seven and then for hats i get those for five as well okay so you'll see this was already formatted um to be accounting but if i wanted to change this and i didn't want it to look that way and i just wanted it to be just currency regular currency this is where i can change the actual um format of what the cells look like so you can go and you can make it different formats so you can go in you can change it you can change it to a date which in this case i don't need i could change it to accounting and then let's just say currency these are the different types of currency numbers these custom you can go in and change it to whatever you want but in this case i just want it to be accounting because this is for our business so we want it to look like accounting and then the same format is going to be for all of those so like for here you'll see that's just general so i can type whatever i wanted to hear this is general but in these cells right here they're all currency so let's keep going so for the sales price i sell my hoodies for 25 i sell my shirts for 15. i sell my crewnecks for 19. and then i sell my hats for 12. so that is a cost so now we're going to be getting into a quick formula and just very simple so formulas essentially are just equations that you enter into a cell to actually compute something for you automatically and it's automated which is the one thing or the one reason why i really like excel because i can format and create functions that i just enter some data into particular cells and then it automatically changes it for me so whenever you were doing a formula in excel or you wanted to do a command or completed equation you want to put equals so in this cell i want it to equal this minus that and that's going to tell me what my profit is so i just click over to what i want and it's saying i 18 i'm going to say minus the actual cost of me actually purchasing it i press enter and voila it's saying that the profit of this line is going to be 15 so that's amazing so instead of me having to go in and do that myself excel will do it for you and look at how automated this is so let's say i actually change it and i make it 27.99 it tells me i make 17.99 for that so that's like i said that is a great tool for you to have when you are creating these excel sheets for your business you can actually have a tourist automatically done for you and the way instead of you having to go in and do this for everything a quick trick is you can take it hover over in this corner and you just drag down and it does everything for you so it actually makes it relative to wherever um the cells are so as long as it's in the same spot it's going to calculate it the right way so now that is our table so now what we want to do is now that our information is put in there we want to turn this into an actual table so the way you can do that there's two different ways you can just highlight the whole entire table and you can format the table and you can click whatever format that you want or you can just click anywhere inside of the table so i can click here here anywhere inside of the table excel is so smart it's automatically going to format and and recognize that hey this is inside of this information so i'm going to stop here and include all of this in there so let's do it from this way and my business is orange so i like to keep it really simple so that's wrong i don't want that i actually want it to be just this so i can go in and change that so that's my table my table yes it has headers because these are the headers that i created and there you go so now this is a table and the good thing about this table is i can sort it the way i want so if i want to see everything that's five dollars i'm gonna see that so that is that's one of the the first features about having a table that is great so now let's get into formatting so now that we have this table one thing that we can do or one of the great tools that you can have is i'm a visual person and as a business owner i'm pretty sure if you look at you're looking at a spreadsheet of data you want certain things to pop out to you so you know to either address it or that it's a good indicator that something good has happened it's a simple way of doing that so conditional formatting is going to be this right here and when you're looking at conditional formatting there's so many different icons on here i'm just going to explain to you guys the simplest and most easy way that i use it that i think you can actually transfer immediately into you building your first spreadsheet so you can actually understand how to do it so the way that you want to do it is you can do it either by a singular sale or you could do it by an entire row when you were thinking about a table you actually wanted to do it for an entire column or row um because in that situation you want it to indicate something so i know the sales price let's say anything that is uh twelve dollars let's say i want something that is twelve dollars so i would go into highlight sales and i would say equal to if it's equal to 12 then i want it to be let's say i want it to be yellow okay so bam that is how it works so if i were to change anything here to 12 look it changes it i think this was 15. so yeah so that is that's how conditional formatting works hover in the corner drag that down because we reviewed it so now let's get into data validation and this is the thing that one of the tools that i love the most and i've created so many spreadsheets for my many different businesses uh throughout the years but i've also created them and sold them to different small businesses out there and i've also used it to create uh different templates that i have for free on my website as well so feel free to go on my website mykel the entrepreneur.com backslash resources i have many different excel sheets that you can actually download right now the reason why you want to use data validation is if you want to pull particular information or you want uh yourself or you want a customer you want you know just something to be controlled you don't want someone to go in and be able to type that you want them to actually have to choose between something that you want so for example let's say i could go in and i can type in hoodie here but let's say i wanted this cell to actually i can choose anything from this list so the way you do that there's two different ways you can do that one is i say more professional and the other one is just like a quick way of doing it in my opinion it's better for you to actually just create a separate sheet and just put all of your lists here because then it's just a quick way for you to edit and make changes to the list without having anything crazy um or having to go in and change it and and figure out where it's gonna where it's at or where you're pulling out this from and you just have one place where you put all of your lists so let's just do it the first way click this you go into data data validation oops i'm just gonna click in here and you would click this scroll down to list and you would put equals and you would click hold and slide the sales that you would want to be a part of that list and now you'll see it made your drop down menu so everything that's here you can select the other way to do it is let's just say this is going to continuously grow over time you can go in when you are selecting this data you just make it to where it covers wherever you're going to enter that data in so let's say this is a larger table so you made this a larger table you can do that and you just click it until you enter in some information so let's just say i put something down here i put short oops it's not usable short and then i go up here you'll see it's down here so until you go in and you enter information and you will have quite a few blanks uh but honestly that's fine it's because you just you just want to set it up that way now the other way let's say you actually make a list here and you say hey i want to put all of my master items on this page i like indicators so let's just say i'm going to change this to colors are a good thing for me so let's say i change it to that so i know everything in this line is what i'm going to make my list out of and then i want it to equal so i want this cell to equal this cell right here i'm gonna press enter so now it equals that and let's say like i said this is gonna be a table that you create and it goes all the way down let's say to this cell right here so that list would go all the way down to the table let's say we expanded the table eventually i would go in and i would want it to i would copy it down so that formula is going to copy all the way down so anything anything that i enter from this all the way down is going to be a part of this list and i have to edit this because it's only going to look at these four i needed to actually equal the other page oh but real quick let's say we wanted to name this something so this is something that we wanted to quickly reference the way you do that is you highlight it all you highlight everything and then you go right here and i can name this so item type and i need to make it one word it can't be two words so now when i highlight this it's gonna pop up as item type so now i can use that as the name of my list that i want this cell to reference so instead of me typing this in i would type delete all this out and i would say item type so if you want to be a little bit more sophisticated with your excel sheets and make it to where it's quickly it's easier for you to go in and make changes i don't like those zeros there's a way you can change that but i'm not gonna go over that in this okay so the next thing is going to be the sum and we kind of use it over here in the profit but essentially let's just say we wanted to sum let's say just the cost or the profits it doesn't really make sense in this case unless these are cells that we're getting but let's just say for the sake of this video we just wanted to use this so like i said whatever function that you're going to use or formula you press equal and i want to sum all of the profit so if i sell one item of all of these items i want to know what that profit is is you type equal as you would do with any other function or uh formula inside of excel you would type sum so that is the function that you're trying to use and you'll see all these different functions so all these are different functions that you can use in excel but like i said we're just going to go over some we'll put parentheses and now it's going to tell us our arguments or what we need to do to actually complete that so it's asking us for the first number so what when you're looking at the sum this first number can be if i use it in the way that this formula is because it's giving you two different ways to do that i can either do it from individual sales so let's say i wanted to do this cell and then comma this cell and then comma this cell it's going to say zero because i did sporadic or random cells and that sometimes comes in handy but in this case since i already have a table and i'm organized with my data i can go in i'll replace that let's say i just wanted to do the profit so i'll click hold and i want to see if i were to sell one of all of these items what would my profit be and my profit would be 44. once again we can go back to the home tab change what that looks like we'll change it to currency or accounting so that is the sum so you can use that in so many different ways uh another way that you can do it is if you have a table you can also go up here and you can say autosum and that'll also be there so since you have a table uh there's quite a few things that comes with that so now you can go in and you can do the minimum you can do the average you can do the count so how many uh items are in here which we talked a little bit further down in this video so you can use that as well uh when you actually have a table it helps you a lot it makes it a lot easier for you to do that so now let's go into some if so some if this is where this data validation comes into play because i can select what i want to sum based off of what i selected so these go hand in hand so let's say i want this to give me the sum based off of what criteria or data validation that i selected up here so the way you do that is it's going to be equals sum remember you type in the name of the function sum if parentheses and it's going to say the range so the range is going to be where do i want it to find that data the next thing we're going to put comma is going to be the criteria so what do i want to find in that in that range i wanted to find this cell right here right now it says hoodie but it can be anything that i already created with that data validation or that list and then last but not least we wanted to give us the sum of what so what is a sum range so if it finds it what do you want it to sum and i want it to sum let's say i wanted to sum the sales price oops i wanted to sum this column so now i would click it 25. so is that right it found hoodie and it gave me that let's see if it worked i'm going to change it to crewneck it should give me 19. did it give me 19. perfect so once again i want to change this format so now we did some if so this comes in handy when you have a large sheet right now we only have four different items and we don't have a lot of data but let's say we had thousands and thousands of entries because we've had so many transactions and you know we've had money going out as a debit and we had you know sales coming in as credits and all these other things that are happening and i just want to do a quick search to find out how much how many crew necks i sold throughout the month or i want to find out how many hats i sign up through the month and i can make this really whatever i want so whatever the data validation is that's what it's going to be so i can have multiple buttons i can have multiple lists and multiple sums ifs for a particular criteria so that's why these come really in handy with the data validation and sum and let's say i didn't have that data validation try to type shirt it's going to make it very difficult for you to actually what if someone spells it wrong that's where you start running into issues so that's why data validation and some if functions work very well together so now let's get into the if function and this one is by far the most robust in my opinion for a beginner that's doing excel because it has so many different capabilities but essentially if you are looking at the if function this is where you can get uh very intricate and you a certain cell or certain logical test meets that criteria so for example you know i probably went over someone's head but let's just say same thing you want to put equals if parentheses and it says logical test so what is a logical test okay so logical test is going to be if the profit is greater than 0 comma what do i want to have happen so if the profit is greater than 0 which means it's a positive that means i actually made a profit i want it to say yes so sorry i have to put that in parentheses whenever i wanted to say something so it says yes if it's not so comma so what do i say if it's false if it's less than 0 which that means it's a negative number which we didn't make a profit i wanted to say no and i press enter close those parentheses so is that true is this true yes so what i'm gonna do is i'm going to put in this formula here so if this is greater than zero then we want it to say yes if not we wanted to say no so you see right here and since i had it in the table that first thing that we went over it automatically does it for you so this is a great thing about the if function and i can make this say whatever i wanted to say so i can have this say raise price instead of it saying no raise sells price so let's say i were to change this so let's say i sold it for less so i sold this for only seven dollars which is terrible it is a raised sales price but i'm going to go back to 25 and you see it's automated it automatically does it for you so you can have it to where when you are building your business you can have these sales where's the only thing that you actually enter in you enter in this and you enter in that and then everything else computes for you and you can actually see like okay like i'm not making a profit i need to change it i need to do these different things so that is a great thing about the if function and you can take the if function and you can embed so many other functions in it because it's those arguments it's a constant argument so now let's move on to the next thing so counta counter basically just totals a number of how much data is entered counsel really works if you have like a checklist or you have a survey let's say a four-step process so step number one and then let's just copy this over hopefully this should go in and see what the pattern is step number two three four and five right and then what we can do is we'll go in and we'll just say you know customer one customer one so this is your process from you know this can be whatever in your business that it is step number one after you get the customer you need to move them through everything and let's say step number five is you know you actually deliver it but this works well if you were to have um a checklist like i said a checklist that's happening so let's just say hypothetically um customer one they got yeses they did everything that they needed right you got through the whole process right and i can use the if function to say complete or finished or fulfilled however i want to do that and then let's say for this one it's a yes so yes and i'm just going to make it real simple copy so let's just say it's just random right so let's just say i'm just gonna delete these so let's just say i have three customers right and i created this to actually track the workflow of us actually fulfilling their orders so we can see right here the first customer they're done the second customer there's step two three and four that's not complete so let's just say i wanted to count let's say the number in order to be complete needs to be five right so what it's gonna do the counter function basically counts how many entries are in here it doesn't look at the value it just says if there's something in the cell we're gonna count it as one something in this cell we're gonna count it as one and then it's going to total it up so for instance we'll do it here and then we'll actually copy it over here so you guys can see what that'll look like if it's like a checklist okay so once again equals counter oops count to parentheses and i'm going to highlight what i want to be counted that should give us five and that is correct so let's just do that same here the same thing here so counter oops counter oops i'm tripping guys counter same range and enter so five and then if i want to copy this down i take the corner drag it down so now this is saying so i can see this person's complete this person has three things i need to get done and this person has one so like i said the counter function works very well if you know you're just trying to count quick things now the one thing about the counter function is if you put something in there so let's say you put no in here it's going to count that as three so you just need to make sure whatever process that you're using you can use check checks so you can make a data validation where it's uh yes or no or you can have it to where it's a blank and uh x mark or a check mark you can do that but you're creating that using all of the things i just showed you and you can make a really comprehensive great tour checklist that you can have for your business and your workflow uh from start to finish so i love the counter function it's so diverse there's so many different things you can do so now let's look at count if so countif is like sum if to the sum function so countif is like that to the counter function so let's just say you only want to count if it meets a certain criteria so now instead of using this we're going to use this because we want to use this data data validation or this drop down menu so let's look at this function equals count if okay so the range where do i want it to find and this is really all it's going to do is you're just going to count how many times the criteria so comma the criteria is going to be this because i want to see how many times does this word show up in this data it shows up one time obviously because there's only one hoodie in here but let's say i were to expand this and let's say that this was uh let's say your expenses for the month and you actually went in and you imported your bank statements and you have debits or you have something that you want to count how many times you're actually you know those different types of transactions you want to categorize that this is great for you to have because now instead of you going in and you counting how many hoodies you sold for the month you can go in and just type in or use a data validation and type it in right there sorry you guys can see how all those different things entered in because it's within that list that i created but anyways yeah so let's say i want to do crew next how many crew necks is going to be one so now that we did this i actually want to move this over to the actual spreadsheet because all of these different functions or formatting conditional uh tools i actually created a spreadsheet and once again this is for download i'm gonna put it down in the description but i'm also going to give you guys my website it's mykelantrepreneur.com backslash resources so you guys can actually download this and use it for your business so let's just go over it so you guys can actually see what this looks like in real life in real life real life right so let's look at the table so here goes the table right here it's great there's one thing that i didn't say originally that you need to be aware of when you do your table but you don't want any data to the right or to the left of the table because when you go to sort something it's going to hide that information so let's say i only wanted to see credits watch what happens to this side it takes that away so you want to make sure that there's no vital information or keys or anything like that that you want to see all the time to the left to the right of your table because like i said once again when you go to sort that data it's going to hide whatever that is so um you just don't want that to happen like i said so when it comes to the table the most important thing that you need to do is make sure that you put in the data and it stores the data that that is important to your business so just keep that in mind the next thing is going to be conditional formatting and i want you guys to see the different rules that i had so i think it was anything very simple anything that's under or manage rules so anything that's under zero i want it to be red anything that's over zero i want it to be green it's very basic uh next thing is gonna be data validation so i use data validation right here why i use it in multiple different places because i love having drop down menus but i can select so i use that simple way that i showed you guys so uh the name i wanted to be able to sort and get data based off of me just quickly just looking up the names i want to see how much money was either made or spent by the name so let's say i wanted to look at it based off of shirt sales so how many shirt cells only had one shirt sale and now it was 25 so that's a quick way for me to be able to do that so i just basically did a data validation for the individual columns so for some i put that up here so i'm going to be releasing my income statement yeah so the income statement is also called the profits and loss statement so it's important for you to know like if your business is profitable or lost once again if you are small operation your side hustler you can do this if you're bigger let's say you still can't justify getting like a bookkeeper and you're not making a lot of money but you are making quite a few more sales a month and you just want to be more organized you can go in and create like this spreadsheet or you can have this spreadsheet and just copy it per month so instead of you logging all of you know the transaction that you have from your business throughout the whole year which is what this is for uh you can actually do it by month and then you can see using this system you can see were you profitable in that month or where you not profitable because essentially your gross profits and loss is gonna be your revenue minus your expenses that's gonna tell you if you made money or you didn't so this is more or less just how how did you make money uh for the whole year and then you can like i said you can do it per month so this is basically saying after it's all said and done for all of the transactions so for me let's say i have a really small business a little side hustle and i have all the way up until march or whatever uh this is telling me hey i want i made 372 dollars and that's because i did make a sale in the middle of february but let's say i were to delete this bam i'm negative 78 because i didn't make a cell so so this is really uh really important for you to see you know what your what your profits are and if you actually made money so the next one is going to be some if so this is basically summon it based off of this criteria so i use this so once again if uh web hosting is going to sum it it's going to sum everything down here and say okay i was negative 200 so i spent 200 on web hosting so the if function is going to be this right here because is my business profitable yes it is and it basically goes off of this information so it says if d five is greater than zero then i want it to say yes which in this case it is because i am profitable and then it's going to say no if it's not so in this case it is once again a visual person so i also put some conditional formatting so if it were to say if it would be no you guys saw it would be red same thing up here so if this is a negative it'll say red so the next one is going to be counter and that's down here so i'm counting uh how many transactions so for purpose so how many transactions total transactions that i have in this period of time and that's six only has six transactions and then this is once again i'm using a data validation so if i wanted to change this so i just wanted to be based off of the different type of transaction that was made so if i just want to look at credit so how many sales that i make that's two and i can change that so it doesn't have to be credit it could be sales it can be uh paybacks it can be withdrawals whatever you want that criteria to be and you can make that so the type can only be whatever type of transaction that you want it to be and you can also like i said make a validation based off of that and i only had two credits if you learned something in this video please give it a thumbs up there's a video that i really think you would like us on the screen i will see you in that video