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Recommended Software

Microsoft Excel or Google Sheets work well with Hemrock models.

I recommend using Microsoft Excel ™ or Google Sheets ™ for financial modeling, both in general and for Hemrock templates specifically.

In practice, I use Excel to build and edit models, and Google Sheets to share or collaborate with users. Excel is usually a faster platform for building models, but Sheets can be easier for sharing models with people.

Hemrock's models can be used in both interchangeably; simply upload the Hemrock model into Google Sheets, and everything will work fine. 1

Apple Numbers, Zoho Sheet, and Quip Spreadsheets are not the best for robust financial modeling or for Hemrock templates; I have used OpenOffice Calc without issues but would still recommend Excel or Google Sheets.

Web Modeling Software

Hemrock models can be used in any web-based modeling tools that support Excel or Google Sheets imports or Google Sheets synching.

Footnotes

  1. Some older versions of Hemrock models will have issues in re-downloading models from Google Sheets into Excel because of the way the two spreadsheet products process array formulas differently, but newer versions eliminated the array formulas to simplify that process. ↩