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Trucking company invoice template for Production

[Music] [Applause] hi my name is grace cisna i'm the cpa on staff with projection hub and today i wanted to take a little time to walk you through our trucking excel financial projection template this financial projection template like all of our excel templates has several different color coded tabs you can see along the bottom here when you download the template you will see two tabs in orange here on the left several tabs in this light blue color and then additional tabs in green the tabs in orange include the instruction sub which we're looking at right now the investor dashboard which we shot about at the end and then our light blue tabs are the input tab so you're going to be inputting the data to build your trucking financial projection model so taking a look at the input assumptions tab you will see cells in this corresponding light blue color and these are directing you to areas where you need to input or update data in order for the model to build your financial projections so for example you will see company name and you'll fill out the company name there projection start month annual inflation rate for operating expenses there's a category for entering any investment in the business your accounts receivable terms if those apply and then at the bottom here you will see an area to enter any general business loans and in the middle we've got the fixed asset section which is one of the most important sections for any sort of trucking business so you'll note that there is already data in these light blue boxes and this is just directing you to the type of data that we're asking for it's not necessarily industry standards or recommended values we just wanted to show you what we're looking for as you build your own model so looking at the fixed assets here you are able to enter the name of a fixed asset and then the category and you can select from the drop down and we have several different categories for you to fill out you have the purchase price the life expectancy in years and the salvage cost and all three of these help us to calculate depreciation expense for this specific asset you will enter the purchase month so which month you purchase is in if you see zero anywhere on these models that is implying that you purchase it right before you start operating and then with our trucking template we also allow you to enter a financing amount for every fixed asset that you purchase so a lot of times with these trucks you're going to be financing them so you'll enter the amount financed in this case it's 80 percent of the hundred thousand dollar truck the finance rate so that's the annual interest rate and then the number of monthly payments in this case 60 is five years once you've entered all of your fixed assets on the input assumptions tab we'll jump over to the input revenue and cost of revenue tab on this tab you can enter starting at the top trucks and drivers from there we will calculate out your revenue for dedicated routes and then your revenue from over the road or spot freight trucking and at the bottom we will sort of summarize the total revenue in any cost of sales associated with that revenue so let's jump back up to the top and look at our trucks and drivers so you will be able to manually enter in this light blue section here the number of trucks and drivers for the first 12 months of your model and from there you can tell the model to add a new driver every blank months and so in this case we'll put six and you will be able to adjust that so we'll increase the number of trucks and drivers at the rate that you choose in addition to those items you will fill out the number of miles per driver per day when they're driving dedicated routes and then you can also fill out the number of miles per driver per day when they're doing over the road routes it will also ask you for the number of days per week of operation with the max being seven because there are seven days in a week once we get those basic assumptions set we're going to move down to the dedicated routes model so the model is going to assume that first we use your capacity of trucks and drivers to fill dedicated routes and then anything left over will be over the road and spot freight so the model tells you the maximum number of miles per day available for dedicated routes and that is your number of trucks and drivers multiplied by the number of miles per day for the dedicated route then you will enter the actual number of miles per day that are going to be assigned to dedicated routes so in this case it always needs to be less than your maximum number of miles per day you can set the initial amount the annual growth rate and the model will calculate for you how many drivers are required for dedicated routes assuming that they're driving in this case five days per week 550 miles per day and there are three drivers total so in this case 2.73 of your drivers will be assigned to dedicated routes so two of your drivers full-time and one of your drivers part-time will be on dedicated routes you will set the average revenue per mile for dedicated routes and you can set an annual growth rate there and you can set your driver pay per mile and then all these other variable costs per mile so things like fuel telephone tolls tires all of those items you can fill in here and we will calculate out your total cost per mile and again set an annual growth rate so the model will calculate miles per month driven based on the number of days in a month or the average number of days in a month here and the number of actual miles per day and from there the model will calculate your dedicated about revenue and your dedicated route direct labor so the driver pay and then the other variable costs next the model will move you down to over the road and spot rate so any actual extra miles that are available per day are going to be assigned to over the road or spot freight so in this case um if you'll recall we had 1650 miles available per day for the dedicated routes but 1500 of them were used up by the dedicated routes so the remainder are going to be used for over the road or spot freight and then you'll set the percentage of available miles used for over the road obviously not 100 of your time is going to be used uh perfectly there's always issues with scheduling or just getting the proper routes and schedule for the capacity that you have so setting capacity somewhere below 100 is going to give you a more realistic model so from there the model will calculate for you your actual actual number of miles per day based on availability and then it will show you again the number of drivers required for over the road and again for these first few months here it's showing that one of your drivers is going to be working part time doing over the road you will then factor in your average revenue per mile again your driver pay per mile those same variable costs and then the model will again calculate your miles per month for the over the road your revenue and then your direct labor and variable costs at the bottom you'll see a total miles summary here that's total miles for the month and then you will see total revenue and total cost of sales summarized at the bottom once you have your revenue and cost of sales all figured out we'll jump over to the input other expenses tab so on the input other expenses tab you can enter expenses that are not necessarily related to each individual mile so for example you may have per driver or per truck expenses you could have fixed expenses and you can also enter per mile expenses here so for example you may do some advertising and that likely is just a fixed amount so you'd enter a fixed amount here for your advertising every month we've broken out the first three months individually so you can factor in any startup costs if you have legal fees for getting organized or down payments on any offices or utilities or anything like that and you can enter those in the first three months here and then after that we allow you to enter just one amount for each of these different time periods here and that is always going to be the monthly amount so you'll see you have a thousand dollars in this column for remainder of year one and that will be a thousand dollars per month so in months four through twelfth it'll be a thousand dollars per month um in year two it'll be a thousand and thirty dollars per month you'll note we've got per driver expenses so um different types of insurance it's going to be 480 and it'll multiply by the number of drivers that you entered on the input revenue and cost of revenue tab and there's lots of those per driver expenses listed again these are all examples you can also enter your effective income tax rate and that is a percentage of income not a percentage of revenue and we always recommend talking with a local tax professional to get a better idea of your tax rate the last input tab here is input salaries and owner draw so if you have any salaried employees they can be entered here a dispatcher or an owner for example in addition as the owner you have the option to draw funds out of the business rather than paying yourself a salary so if you choose to do that you will enter those here once you've entered all of your input tabs we can jump over to the output so the at a glance tab is going to be some nice graphs charts and summaries for you and these will help sort of summarize your financial data and visualize it a little bit as well and then we have the financial statement summaries so we've got the income statement summary the cash flow statement and the balance sheet and the summaries are all going to show the annual amounts for five years of the model so the income statement is your sales your cost of goods sold or your cost of sales then operating expenses and it will boil down to your net profit and your net income here the cash flow summary cash flow statement is very similar to an income statement but includes a couple additional items so cash from new loans and new investments that's not revenue per se but it is cash coming into your business so that shows up on the cash flow statement as well as cash paid for those same loans and cash paid for fixed assets that is going to show up right here on the cash flow statement the balance sheet is going to show your assets including those fixed assets the vehicles etc your liabilities so any loans especially the loans on all the vehicles and then the remainder after your liabilities are considered is the shareholders equity note one of the most challenging parts about building your own financial projections is getting the balance sheet to balance with our templates you don't have to worry about that the balance sheet is always going to balance so that's not something you have to worry about the next three financial statements are those same three the income statement the cash flow statement and the balance sheet just broken out with every single month for five years so if you like having a little more detail you'll be able to see it here on these annual month by month summaries for the three different financial statements all right the last time we'll talk about is the investor dashboard which is right at the beginning here so the investor dashboard is new to our version 2 templates and it is a way for you to try out different scenarios and play with some of the major assumptions of the model without affecting the rest of this model that you've just worked so hard to build so if you wanted to see for example what would happen if you changed your driver pay from 40 cents to 42 cents per mile you could change it in the light blue sections on the investor dashboard and then when you scroll down you will see the original income statement which is the same as income statement summary and then you will see your modified income statement so if you change some of the assumptions of your model for example we change direct labor here so that is going to change and you'll note that the gross margin goes down in this version because we increased the labor and so anytime you change the blue numbers up here that is going to have an effect on the income statements down below so that's a great way to see how sensitive your model is to various assumptions that's also a great way for investors or lenders to sort of play around with your model without affecting again all this all these tabs that you've worked so hard to build so it's just a neat feature that we decided to add for this new version if you like this model but need help filling it out or need some modifications we are always happy to provide those for you so please feel free to reach out to us at supporterprojectionhub.com you'll often be working with me directly i developed this template and i'm always healthy happy to get you some help in modifying it or filling it out whatever you may need so thanks for going through this walkthrough with us and we hope that this template is really helpful for you