How to track changes in your financial model

The lifetime of a financial model can be surprisingly long. And over that lifetime, lots will change. You'll likely have multiple versions of the files with numerous changes between each version. The output sheet is useful for tracking how the numbers produced by the model change. We also need a way to keep track of changes to inputs and calculations between versions

Like many of the tools and techniques taught in the Handbook, what I'm sharing in this section is how we do it at Gridlines. You may need something different to suit your team and your workflow. Hopefully, this gives you a helpful starting point from which you can build.

In this chapter, we'll look at how change tracking works. See this chapter on how to set up the Change sheet in your model, including the various Range Names that need to be present for the change tracking automation to work.

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