Bookkeeping spreadsheet: Excel Accounting and Bookkeeping Template Included Bench Accounting

Bookkeeping spreadsheet: Excel Accounting and Bookkeeping Template Included Bench Accounting

Bookkeeping spreadsheet

Cash flow statement templates are particularly useful for companies that are scaling up and need to show how sustainable their cash inflows are. The double-entry method of bookkeeping is standard for larger, more complex businesses. It’s more effective than single-entry for tracking cash flow and protecting against errors and fraud.

In order to generate monthly Income Statements, you’ll need separate sheets for each month. Make twelve copies of the original income statement, one for each month in the year. We recommend not editing the cells under the Outstanding and Age columns. These are preloaded with formulas that automatically sum up the amount that hasn’t been paid yet — as well as the amount of time that’s passed since the due date. As for the Payment Status, you can select To Send, Partially Paid, Fully Paid, or Closed from the drop-down lists we’ve prepared. And if you really love a particular Excel accounting template — like ours — you can even use it alongside’s more dynamic template.

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By default, the Income Statement includes data for every account listed in the Chart of Accounts. If you’ve added or removed accounts from the Chart of Accounts, make the same changes to the Income Statement. For instance, if you don’t track “Gas & Auto” as an expense, delete the row. If you’re planning to do your small business accounting with Excel, this is one of those times. This payroll register template includes a pay stub and a register of employee information to help you process payroll.

  • For instance, if you don’t track “Gas & Auto” as an expense, delete the row.
  • A P&L sheet is usually necessary for businesses doing their taxes.
  • ” categories that are set with conditional formatting (so they change color, depending on the value).

Lastly, your costs (as well as the total) are calculated by the formulas as you input the number of the stocks currently on order and the price per unit. If you’re looking for a more advanced and insightful template for inventory management, consider the inventory and sales tracking spreadsheet template below. If you’re looking to track the metrics that indicate whether you’re earning or losing capital, you might need a P&L bookkeeping template. Divided into four categories, it’s easy to see your sales, the costs of what you’ve sold, operating expenses, and add-backs. These financial records will need to be constantly added into an up-to-date company ledger, which is essentially your master accounting template. First, you’ve got to decide what sort of accounting template you’d like to create.

Employee Timesheet Template

This is where your spreadsheet will indicate when the wage is due and how often you need to pay a certain individual. Proceed to categorize your transactions under Account and provide their details under Explanation and Credit (or Debit, depending on the type of entry). You can refer to the table at the rightmost part of the sheet if you’re unsure which column the transaction amount should be written under. We’ve also included conditional formatting and statements that help increase visibility in your spreadsheet. For example, a certain cell turns red if you’ve stocked more than the maximum capacity of your storage. Several functions have been set up for you, which automatically add the total outstanding amount (depending on the status of your bills).

Bookkeeping spreadsheet

The cells under the Net Pay column are automatically summed up based on your input. Once the Client Base tab is set, you can go back to this sheet to dive into the details of their invoices. If you’re in the retail industry, you must know that a healthy inventory is a must. One way to accurately and easily track your stocks is with Google Sheets templates for businesses that focus primarily on inventory. You might find the last five columns of our template particularly handy when calculating deductions from your employees’ total salaries.

Profit and Loss Dashboard Template

This timesheet template includes break time, regular and overtime hours, sick days, vacation time, and holidays. Enter the starting date for the week at the top of the template, and the dates will automatically populate the timesheet. View hourly rates, total hours, and total pay for each day and week.

This template includes a ledger for tracking customer payments and an accounts receivable aging tab to track outstanding payments. The template automatically populates the accounts receivable aging sheet after you fill in the payment ledger. Add invoice terms, amounts, and payments received to view current and overdue balances. Bookkeeping templates are documents that help you track and manage financial data and business performance.

How to Use Our 5 Bookkeeping Templates for Google Sheets

You may want to make a copy of each one at the end of the month, and either save it or upload it to the cloud. Come tax season, your accountant will need your income sheets for the year. When you use Bench, your transactions are automatically imported and categorized for you. Keep the tab for your invoice tracker to the right of the Transactions sheet, but to the left of your monthly Income Statements. First, download a free invoice template for Excel, or get one for Google Sheets. Copy and paste the data from the invoice template you downloaded into the new sheet.