You can simply systematically work through the excel model template starting with the assumptions, the P&L line items, CAPEX, Balance Sheet and Cash Flow Statement.

 Most Excel templates will not come with much instructions since the formulas disclosed are actually more precise than writing much text.

The reason for that is that a good Excel model should be self-explaining through its structure. However, a template gives you a good framework but there might still be some fine-tuning to do as every financial modeling case is different.

So how do you go about if you like to customize your model further? – We propose to follow a systematic work plan as follows:

  1. Assumption cells: Normally assumption cells are marked as such and therefore you should work through the assumptions first and fill them with your own assumptions.
  2. Profit and Loss Line Items: The next step is to work through the Profit & Loss line items and see if those apply to your own specific case. You can insert or amend sources of revenues and use the Trace Precedent / Trace Dependent function in Excel to trace back where the revenues come from. When doing this you should be able to trace all calculations back to its assumptions and understand where the numbers come from.
  3. CAPEX, Working Capital: The next step is to review the CAPEX (Capital expenditures or investments) and working capital (Days Receivables, Days Inventory, Days Payables) assumptions so that you can understand how your balance sheet will develop.
  4. Debt Schedule: Next step is to review the debt schedule, especially the interest rate and debt repayment assumptions used.
  5. Balance Sheet and Cash Flow Statement: Now you should have all elements in place to review your balance sheet forecast and the forecasted change in cash. Your model should show (1) Total Assets = Total Liabilities and Equity and (2) the same cash position on the balance sheet which should be calculated in your cash flow statement forecast.
  6. Reviewing Results and Play with Scenarios. The next step is review all the remaining parts of the model such as the Discounted Cash Flow (DCF) valaution, Internal Rate of Return (IRR) calculation and the Executive Summary. To check that your model works, you can simply play now with your assumptions. When varying the assumptions, you can check now that the resulting DCF value or change in IRR is what you would expect.

For more information, see also the article how to best work with a financial model template. If you need any help, feel free to ask one of our skilled financial modelers for help by posting a review project here.


You must purchase the paid version of the Excel model. There the worksheets are unprotected.

For most financial model, the difference between a FREE Version and a FULL Version is that in the FREE Version the formulas are not visible in Excel and the cells are protected. Only Input Cells might be editable so that the user can get a sense for the financial model.


FREE Version

  • Formulas are not visible in the Formula Bar
  • Cells are protected with the exception of some input and assumption cells
FREE Version Financial Model Template
FREE Version Financial Model Template


FULL Version

  • Formulas are visible in the Formula Bar
  • Cells are non protected, they are all editable for full use and further customization of the financial model
Full Version Financial Model Templates
Full Version Financial Model Templates

Via Paypal upon sale of the product. Thus your email address needs to be registered by paypal to ensure a smooth payment.

Some of the free or LITE model versions do use a password protection of the files. Normally this is indicated in the model description. Please check if there is a paid or premium version available which normally is not using any password protection.

Taylor-made financial models do have the advantage that the can more specific to your business case and your modeling needs.

We are currently working to prepare a solution where you can benefit from the industry and financial modeling expertise of our authors. Simply get in touch with us so that we can link you up with a suitable personal financial modeler which can help you beyond a template.

Contact us

YES – As for the moment, basically all models have a switch where a three digit currency code can be entered (default is USD). Simply enter the shortcode of your desired currency and the model will present your new currency code to all financials instead of United States Dollar (USD).

Maybe in the future we might add new financial models where the currency code cannot be changed but thats for later on.

No, as its a digital product we can’t give any refunds. We provide the models “as is”. However, feel free to drop us an email and we will have a look into your feedback.

Contact us if you need tailor made modeling assistance.

Yes you can.