In this component, we'll be walking through how to use a simple but powerful budget and finances template, which will let you track things like revenue expenses, create monthly reports, and set yourself financial targets.
It's also going to let you track things like recurring expenses and revenue items; so let's take a closer look at each section of this template system.
Notion Budget & Finances Template
The key areas of this template system will be:
- Runway; and
- Monthly Reports.
We also then have a folder to store any old and archived monthly reports.
And we have a section for our recurring revenue and recurring expense items.
So let's start with the home dashboard. You'll see there are two kind of call out boxes bringing to your attention any upcoming and overdue revenue items.
And the same thing applies for any upcoming and overdue expenses.
You'll also notice a few click through guides scattered throughout the workspace, which are marked with an orange click icon.
For our upcoming and overdue items, it's worth noting this is automatically filtered to only show items where the schedule (which is a preconfigured formula) is 'upcoming' or 'overdue'.
If you were to move an item, say 'brand project', from 'Not started' to 'Paid', it will disappear from our filtered view on the home dashboard--because we're really just trying to focus on things that are upcoming and overdue.
Notion Revenue database template and views
Our revenue workspace has a few different views preconfigured for us. We have:
- An All-Time Revenue table;
- Month-by-Month board;
- Categories board;
- Status board;
- Recurring items;
- Archive; and
When you enter a new revenue item into the database, there are a few properties to configure:
- Qty - This is the quantity of that item being billed;
- Rate - This is the rate or price per item;
- Total - A formula to calculate your Quantity x Rate;
- Schedule - This formula will indicate how your item is doing, related to its 'Due' date and 'Status'. This can either be: 'Paid', 'Upcoming' or 'Overdue';
- Category - A select property to let you tag revenue items with custom categories;
- Status - This is the status of the payment itself;
- Due - Your target or expected date to receive the funds;
- Recurring - A checkbox to mark items as recurring or not; and
- Target - A relational property to let you link specific revenue items to target goals you've set for yourself.
Month-by-month revenue breakdown
We also have a month by month breakdown. Remember this is only filtered to show revenue items. You can see some properties highlighted here and you could also see the sum total for each month.
Revenue items by category
We can also break down your revenue items by category. So remember we, we can tag each revenue item with a revenue category, which will then let us sort this board accordingly. Feel free to add specific category tags that are more relevant to your business.
You could even do it by specific products or services that you offer. So if you do some branding and you do some design work and you do some strategy work, you could also create tags in the category section for that and you'll be able to see a breakdown based on those categories.
Revenue items by paid status
You can also break down your revenue database by status so you can see very quickly any payments that are have been requested.
Again, you can see the, the schedule or the status of that here with upcoming or overdue. And you can also quickly filter and show or add recurring items.
Archive & Calendar views
There are two more views in this revenue table, which are our archive and calendars.
So anything that's not relevant or that you just want to clear away from your your view, you can just hit this archive button and it's going to disappear from the main view and show up in your archive.
If you want to send it back to your main table, you can always just select that checkbox one more time.
We also have final view for revenue is a calendar view if you just wanted to get a monthly overview of when things are coming up and how things are kind of spaced out via calendar.
So that's our revenue database. Again, this is just one database. If you want see which databases make up this whole template system, you can head over to the Map and you'll see there's just three databases.
Notion Expenses Database Template and Views
Our expenses page is going to be quite similar to our revenue page.
We have a full list of all expenses.
We have a way to quickly identify recurring expenses which might be more relevant for things like subscriptions in expenses than it is for our revenue.
We also have a way to quickly view the status of various payments and we have a calendar view for our expenses.
Setting Budget and Financial Targets and Goals
There is a click through guide at the top of this section, which is showing you where to click and how to add various properties to a new objective.
The first thing you need to do is title your objective. You can also add a description for more context.
You could even add an emoji to just kind of spice it up and make it more visually appealing in the interface.
Then we're going to set a target date or a due date for this objective.
We're going to set a target amount. So in this case, we're saying that our target is $5,000.
Then we have some relational properties, to link specific revenue and expense items to this particular financial goal or target.
We also have a quick runway calculator if you wanted to quickly forecast from starting cash in bank, and this is going to give us kind of a general runway to help us forecast how many months we have at this rate, how are we growing, and so on.
Now we can head into monthly reports.
Creating Monthly Reports
Once again, at the top you'll see there is a click through tutorial, which is walking through these stages. So if you do forget, you don't need to come back to this video, you can actually just use this click through guide.
But for the monthly report, we're going to have a revenue section and an expenses section. And these are going to be pre-filtered or these are going to be filterable by the month at hand.
We have a full list, we have our categories list. Again, this is only showing items for November. So if you wanted to get a quick overview of the sum for your November performance by category, you can do so here.
And you can also check on the fulfilment status of your November performance. So how many items were overdue, how many items are still yet to be paid, how many were paid.
In this side synced menu, you'll see there's a button called new monthly Report. Every time you hit that button, it's gonna generate a fresh new month report.
Once you have a few of these, it's going to take up some space in your menu. So there's also a folder where you can quickly just drag and drop all your monthly reports.
So that's the quick tour for this budget and finances template. Hopefully it gave you some ideas for your own setup and how you can use Notion as a bit of a budgeting and finances tracker.
Or if you just wanna download and use this template system, this is a pro membership template, so sign up for an account, and you'll get access to this and our full library of 80+ Notion for business templates.