Savings and sinking fund tracker

What the savings and sinking fund tracker does

Big costs are easy to pay for when you save for them. List each goal with the target amount and date, what you have saved and what you save each month, and the tracker works out what is left, how many months it will take at that pace and the progress, so tax bills and equipment never arrive as a surprise.

Who it is for

Business owners saving for tax, equipment or stock, and families saving for school fees and emergencies, who want to see the plan and the progress together.

How to use the workbook

1. List each goal and its target amount and date.
2. Enter what you have saved so far and what you will save each month.
3. Read the amount left, the months to go and the progress.
4. Adjust the monthly saving if the target date is too close.
5. Save a copy under a new name for each month or year, so earlier records stay as they were.

What is inside

• Target, saved and remaining for each goal
• Months to go at your monthly saving
• Progress percentage
• Totals across all goals
• Space for 50 goals

The workbook has these sheets: Instructions, Goals. The main table has the columns Goal; Target amount; Target date; Saved so far; Saving each month; Still needed; Months to go; Progress. Yellow cells are for you to fill in and grey cells calculate by themselves, so leave the grey cells alone. The example rows show how it works; type over them with your own entries.

Tips for getting it right

• Save for tax every month, not just before the deadline.
• Name each pot clearly and keep it in its own account if you can.
• Put the saving in first, before other spending.
• Review the plan every quarter.

Why keep this record

Running a business on memory works until it grows. Writing the numbers down turns opinions into facts you can compare month to month, and shows early which products, customers or costs deserve attention. Even a simple workbook, used every week, usually beats a sophisticated one that is opened once a year.

Questions people ask

Do I need to know Excel formulas? No. Type into the yellow cells and the rest is worked out for you. The formulas are visible if you want to see how a figure is reached.

Can I add rows or change the layout? You can add your own columns to the right and your own notes. If you insert rows inside a table, copy the grey formula cells down so the new rows calculate too.

Will it work on my phone or in Google Sheets? Yes for viewing and typing, but dropdown lists and the charts look best in desktop Excel or LibreOffice.

Keeping it safe and up to date

A plan is only as good as the numbers you put in. Start with honest estimates, update the workbook as real figures arrive, and compare the two so your next estimate is better. Save a dated copy each month so you can see how your thinking changed.

Read how to build a cash flow forecast for the wider picture. See more business templates or ask us for a custom one.

The workbook works in Microsoft Excel, LibreOffice and Google Sheets. It is a tool to help you work out and record figures, not tax, legal or accounting advice, and it is not affiliated with the Kenya Revenue Authority. If something does not work as described, contact us and we will put it right.

Related guides, calculators and templates

• Guide: How to build a 12-month cash flow forecast for a small business
• Guide: How to price your products and services: markup, margin and break-even
• Guide: Turnover tax for small businesses in Kenya: rate, limits and when to use it
• Another template: 12-month cash flow forecast
• Another template: Break-even and pricing calculator
• Another template: Budget versus actual tracker

Need something different? Request a custom template, browse all guides or see every Excel template.