This article logs the different version changes on the Slidebean Financial Model
This version mainly fixes a compatibility issue with Microsoft Excel, by replacing two formulas in the FS-Month sheet. These formulas added multiple IF statements (example: IF(...)+IF(...)) which caused an unknown error in Excel. The new formulas use SUM instead.
FS Month > Convertible Notes (Row 85)
=SUM(IF(D$6='Cap Table'!$H$49,'Cap Table'!$H$112,0),IF(D$6='Cap Table'!$J$49,'Cap Table'!$J$112,0),IF(D$6='Cap Table'!$L$49,'Cap Table'!$L$112,0),IF(D$6='Cap Table'!$N$49,'Cap Table'!$N$112,0),IF(D$6='Cap Table'!$P$49,'Cap Table'!$P$112,0),IF(D$6='Cap Table'!$J$49,'Cap Table'!$J$119,0),IF(D$6='Cap Table'!$L$49,'Cap Table'!$L$119,0),IF(D$6='Cap Table'!$N$49,'Cap Table'!$N$119,0),IF(D$6='Cap Table'!$P$49,'Cap Table'!$P$119,0),IF(D$6='Cap Table'!$L$49,'Cap Table'!$L$126,0),IF(D$6='Cap Table'!$N$49,'Cap Table'!$N$126,0),IF(D$6='Cap Table'!$P$49,'Cap Table'!$P$126,0),IF(D$6='Cap Table'!$N$49,'Cap Table'!$N$133,0),IF(D$6='Cap Table'!$P$49,'Cap Table'!$P$133,0),IF(D$6='Cap Table'!$P$49,'Cap Table'!$P$140,0))
FS Month > (+) Converted Notes - Conversion to Equity (Row 198)
=SUM(IF(D$6='Cap Table'!$H$49,'Cap Table'!$H$114,0),IF(D$6='Cap Table'!$J$49,'Cap Table'!$J$114,0),IF(D$6='Cap Table'!$L$49,'Cap Table'!$L$114,0),IF(D$6='Cap Table'!$N$49,'Cap Table'!$N$114,0),IF(D$6='Cap Table'!$P$49,'Cap Table'!$P$114,0),IF(D$6='Cap Table'!$J$49,'Cap Table'!$J$121,0),IF(D$6='Cap Table'!$L$49,'Cap Table'!$L$128,0),IF(D$6='Cap Table'!$N$49,'Cap Table'!$N$128,0),IF(D$6='Cap Table'!$P$49,'Cap Table'!$P$128,0),IF(D$6='Cap Table'!$N$49,'Cap Table'!$N$135,0),IF(D$6='Cap Table'!$P$49,'Cap Table'!$P$135,0),IF(D$6='Cap Table'!$N$49,'Cap Table'!$N$142,0))
Other minor fixes
This versions fixes a couple of minor issues related to keeping the Balance Sheet in balance.
This version fixes export issues to Microsoft Excel as follows.
Cleaned Up formulas incompatible with Microsoft Excel:
This version fixes two core issues on the FS-Month and the FS-Annual sheet that cause discrepancies in the Annual summaries and in fundraising.
The Tax and Valuation functionality in the model requires separation between EBITDA, EBIT, and EBT (earnings before taxes). Therefore, the fomula for net income should be
EBT-Income Taxes
The model was incorrectly taking into account EBIT. Therefore, the new formula in the model for cell D61 should be:
D56-D59
This formula should then be copied and extended through row J61
Since Convertible Notes and SAFEs are accounted as loans (Liabilities) until they convert to stock, new convertible note/SAFE investments must be accounted both in the Balance Sheet and in the Cash Flow Statement:
The 5.0 version of the model had an error that didn't allow for Convertible Note funding estimations to be reflected properly. The fix for this is simple:
The formula for Fs-Month Row D143 should be
=ROUND(SUMIFS($D186:D186,$D188:D188,"Convertible Note")+SUMIFS($D186:D186,$D188:D188,"SAFE")-SUM($D198:D198)+SUM($D85:D85),2)
The formula for FS-Month Row D197 should be:
=IF(AND(C143<D143,D143>0),SUM(D143,IFERROR(-C143,0)),0)
Both formulas should be copied and extended to cover the entire FS-Month Sheet.
This version consolidated a number of adjustments and new features developed over versions 4.9-4.99.
The Assumptions Sheet lets users input key variables impacting business forecasts. It includes sections like Capital Expenditures and Loans, guiding the automatic estimation of costs like computer purchases and setting depreciation periods for various assets.
The basics of driver based modeling
The Settings Sheet allows you to set company-specific parameters like start dates, currency, and tax rates, ensuring all other sheets align with your unique business context.
