I was working on YouWIN! 3 Financial/cashflow template when I discovered some errors in the template. On taking time to examine the template and cross check, I discovered that it did not correspond with the final value. There are cells with missing formula.
1) The first error is cell D6. This cell supposed to sum up the value of INCOME (include Invoiced sales on cash terms, Cash received for Invoices on business credit terms and Cash received for Invoices on credit card terms) for month1, but there is no formula for it (cell D6).
2) The 2nd error is that formula to add up the value of total income and trading cash receipts (include YouWiN grant and introduction of external funds (personal,family,loans)) for month1 is also missing in cell D9. Look at the image below:
3) The formula to add up all the value for mobilization is also missing. The cell B40 supposed to have this formula: =SUM(B11:B38), the formula is missing that all the value you enter for mobilization is not sum up. This affects the overall result. Check the image below.
4) The 4th error I notice is in cell B42 which supposed to contain value for cash position (end of month). The formula that is missing there is: =B9+B41-B40. This error also affect our overall result. Check the image below:
I have notified YouWIN! and I hope they will make correction and ask you to download fresh one.
Like I told all my mentees and visitors, I am committed to ensure that you guys succeed. You should know that 65% of the marks is for your financials and you can’t make mistakes or not knowing what you are doing.
I wish you the best of luck!!!
Thank you for reading this post, don't forget to subscribe!