Manage Business Cashflow in Airtable | Automate your finances
ฝัง
- เผยแพร่เมื่อ 3 ก.ค. 2024
- Cashflow is a difficult thing to track for many entrepreneurs, but not paying attention to your bank balance is certain to bankrupt you and close down your business. This video outlines the steps to building a true cashflow tracking app that runs on autopilot and will allow you to know exactly how much profit you're generating inside your business. 👇
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Table of Contents: 📖 👇
00:00 - What this video covers
01:33 - Cashflow overview
02:48 - Building the structure
04:15 - Setting up the Income transactions
07:56 - Allocating Income into Expense buckets
10:18 - Building automation to create Expenses
14:52 - How to Get More Help!
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Software Resources (may contain affiliate links): 💻 👇
Airtable - airtable.com/invite/r/v0eI3ASY
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Your videos have helped me so much. Thanks for making these public and free. Youre a life saver
Truly happy to help! 🙏
Gareth dropping straight Gems!
All because of you! 🙌
This was the most helpful and all the helpful! Again - thanks so much.
So, I've got all my info in .. and used your CSV importing tutorial to import the bank data ... but ... how to link the bank data into the income table ... ?
Are you having trouble linking the tables, or linking the data when performing the import?
Cash flow is king 🍺🍻
Bought the book Gareth. Thank you.
I hope you enjoy it as much as I do!
Growing a business is hard, but let's keep going our small business will never be small again💛
Hi there! Can you make tutorials on the new updates in Airtable? They have a new view: List view and I'm still kind of confused by it.. Thank you!
Every time I try to use the concatenate tag and include a date of any kind I always get a crazy string of characters. Even trying to duplicate what you have here does the same. I get something like: 2023-10-23T18:19:46+00:00 Todo
I can't figure out why this is.
Hi! Thanks for the video!
One question: Why did you add the types and sub-types of costs and revenues as just a single select column? I usually turn to adding more tables to identify the types first and then use those linked tables to my main Table with costs and expenses. Is there 1 that is better?
How do I calculate income less expenses in the dashboard?
How do you handle fixed vs. variable percentages? For example, my rent is the same amount every month regardless of my revenue. Thank you very much for these videos. Super helpful!!😀
Great question! Mike Michalowicz, who wrote "Profit First" talks about breaking up percentages of your income as variable expenses. For example, you may determine that you take 10% of each dollar sold to go into the "Rent" bucket. Most of the time (hopefully) this means you'll have MORE money to cover rent than you need - and that's a good thing! You can then reinvest that extra money in growth, or instead reapply extra funds to profit.
I'd strongly recommend checking out his book if you are interested in learning more - everyone I've recommended it to has told me it changed the way they look at their business finances.
@@GarethPronovost Awesome - Thank you!
Is profit an expense?
Watching your video to minute 3 and I couldnt help it but to comment! Why not put in-table / out-table / in-out-table and each one of you can look at what you like :) Aside from this, can Airtable auto-populate the same entry into different tables from a single data update?
Funny you'd mention that because our program director prefers to think of all inflow/outflow as 'transactions' so for our internal database, we do use it the way you described. All cash in and out is stored in one table called Transactions, which is totally great. In fact, I think it's the "proper" way to do it, but I personally prefer putting it into separate tables.
To you question - yes, you can auto-populate the same entry into different tables from a single data update.
Is there a way to integrate with QuickBooks and have data auto populate?
Absolutely - an automation can be triggered from Quickbooks, but only if you are using QBO. The desktop version doesn't connect to the cloud and therefore can't trigger automation.
One major concern I have with switching everything to Airtable is backups. Without some convoluted integration (such as Zapier or, On2Air) there doesn't appear to be any way to safeguard the data. Any advice on this?
There are backup tools you can use (On2Air built one, or you can automate with Zapier). The other options is a difficult integration, as you suggested.
Otherwise, you can always copy your database and/or download CSV files of your data for backup purposes.
He has a video on that here: th-cam.com/video/nyOhc6VISys/w-d-xo.html
I think calculating expenses on individual income level is too complicated. Tax can be easily calculated on monthly basis, same with payroll. Even if wee look at it from book point of view the same, it can easily be done every month. Great channel anyway. I'm Amazon seller and trying to create my PPC strategy database.
Thanks for checking it out! I prefer to do it per transaction, but my transactions are larger dollar amounts, so it makes more of an impact. In any case, summarizing it at the end of the period is great too if that works best for you!