A construction loan schedule excel spreadsheet can be very useful to the general contractor. By making use of a construction loan draw schedule, a company can track all the finances of their project much more efficiently than using a standard spread sheet program.
Because a construction loan draw schedule excel spreadsheet is made up of three columns, the format is very user friendly and will not take up much time for a company to quickly access. A construction loan schedule excel spreadsheet can be easily printed off and immediately utilized by the general contractor, because the spreadsheet is formatted in such a way that does not require any technical knowledge to process.
A construction loan schedule excel spreadsheet is actually split into four separate sheets, each having its own purpose. The first sheet is used to keep track of expenses. Each expense is labeled so it can easily be identified later when necessary.
In addition to the expenses, the sheet is also used to keep track of finances. In the first column, the total number of days needed to complete the project is listed. The second column is used to break down the cost per day, per week, and per month. The third column is used to keep track of the payment amount, and the fourth sheet contains the calculations required to calculate the total amount of the project.
It is important for a general contractor to keep track of all of their finances, as it can become extremely difficult for them to make an accurate calculation of the financial aspects of a project or know how many days they have left on a given project. Using a construction loan draw schedule excel spreadsheet, a general contractor can simply print off the information needed in order to calculate their funds, and send the information off to the lender.
It should be noted that while a construction loan schedule excel spreadsheet does not need to be complicated to be useful, it does need to be concise and easy to read. This is because while there are many different financial concepts that can be covered in a typical spreadsheet, a construction loan schedule excel spreadsheet needs to be easily understood by a layman who has little or no knowledge about the industry. It should also be noted that this type of spreadsheet is not the same as a general ledger for a construction business.
If a general contractor is used to using a general ledger, he or she may find the construction loan schedule excel spreadsheet very beneficial. The important aspect of the construction loan schedule excel spreadsheet, however, is to create a list of expenses to keep track of all of the expenditures that will be required for the company’s next project. Creating the expense list on the spreadsheet itself is not essential, as most Excel programs allow for a general ledger to be created in a similar manner.
By keeping a record of all of the expenses that a general contractor will need to track, the general contractor will not only be able to save a great deal of time and money, but also allow for a quick and efficient method of calculating the financial aspects of the project. Because a construction loan draw schedule excel spreadsheet does not require a very in depth knowledge of the industry, it can be a much better tool for a general contractor. As a result, this type of spreadsheet will become much more common as the project continues to expand.