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Excel Accounting and Bookkeeping Template Included Bench Accounting

July 11, 2023
Bill Kimball

It’s more effective than single-entry for tracking cash flow and protecting against errors and fraud. However, it’s also more work to maintain—and difficult to set up in Excel. If you’re at the point where you believe your business needs double-entry bookkeeping, it’s time to use accounting software. This statement of account template shows all of the financial transactions that occurred between your business and a customer during a certain time period. The template provides an account summary, including the customer’s previous balance, credits, current charges, balance owed, and due date.

An income statement template is a pre-designed template to help you record and summarize all of your team’s net income, net sales, and expenses during a given period of time. With the help of Excel’s templates, which offer users, many opportunities to employ, you may now accomplish anything. Excel has templates for managing orders and doing everyday tasks, and bookkeeping templates preserve a thorough record of a person’s or company’s financial activities. These 10 excel bookkeeping templates are the best for keeping track of your business.

Free Productivity Templates in Excel, Notion, & ClickUp

This budget template includes tabs for recording income, expenses, and cash flow. As you add amounts received or spent on each item, the template calculates monthly and yearly totals. Use the cash flow tab to record transactions and monitor your cash balance. There are a number of downloadable income statement templates you can use to record your income information in Excel spreadsheets. They’re normally pretty basic and include a number of pre-labeled rows and columns identifying common expenses and revenue sources that apply to a lot of different business types.

Review revenue, expenses, and net income before and after taxes with this income statement template. The template accounts for all revenue sources and business expenses when calculating net income. Example revenue sources include sales, services provided, and interest. Business expenses include advertising, office equipment, insurance, utilities, and depreciation.

bookkeeping excel template

A simple expense report is helpful to keep track of business expenses for an individual, department, project, or company, and provides a quick way to document and track expense details. You can require that your team submit monthly expense reports or as the expenses are accrued. Use this expense report template to quickly input specific expense details and obtain approvals as needed. First, you’ve got to decide what sort of accounting template you’d like to create. After all, each template includes a range of different fields, so you’ll need to hone in on the reason you’re creating a template. Having an Excel accounting template to fall back on gives you some peace of mind in knowing you’re on the right track.

FAQs about Excel accounting templates

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. List each invoice by ID number, date, customer name, description, and amount. The template provides a running total each time you enter a new invoice and calculates the total amount invoiced to date. Customize with a logo and business details, and enter an invoice number, date, customer ID number, and payment terms for each invoice.

And of course, ClickUp doesn’t disappoint when it comes to offering dynamic views for visualizing progress. The Kanban view makes it easy to move tasks from start to completion. By the end of every month, the Income Sheet should have all the data it needs to summarize your bookkeeping for that period. Make sure to keep the Income Sheets separated, organized by month.

Billing Invoice Template

This payment schedule template will help you remember when each bill is due and be able to budget accordingly. But instead of looking at various accounting dates, it focuses on monthly or quarterly reports. For example, there’s a General Ledger Template for you to track any business expense, a Statement of Account Template, Credit Card Tracker Template, invoice templates, and more. These templates can help you keep track of your finances and ensure that your business is running smoothly. This expense report makes it easy for your staff to reclaim their money and for your business to keep accurate expense records.

ClickUp’s Accounting Journal Template makes this process a breeze by using the double-entry method for recording all your business transactions. Just enter the debit balance details first, followed by the credit balance—by adding their entry number, transaction date, journal type (General, Sale, Payment, Receipt, and more), and receipt file. Plus, there’s a helpful Getting Started Doc to help you navigate the template so you can start making edits. If you’re new at this, having a clearly labeled template that can show which values to place and where is a total lifesaver. But that can be pretty hard to keep track of — especially if you’re leading a small team and wearing many different hats at any given time. This is where an Excel accounting template really comes to the rescue.

Our dynamic downloadable template comes with a range of pre-built financial reports — including all the basic accounting statements we’ve already talked about. That means rather than worrying about creating loads of new spreadsheets and organizing them all, you can make life simpler with one master template that has everything you need in one place. Managerial accounting statements enable you to analyze a company’s income and overheads to make important decisions about how your operations are funded and run. There are a number of managerial accounting templates on Excel — including budget templates and forecast templates. A cash flow statement gives you a breakdown of what your company’s cash balances look like for a given period. There are loads of cash flow templates available on Excel and a number of external sites that you can download for free.

  • You may need to add formulas for certain columns depending on the type of statement template you’re creating.
  • After opening up Excel, start a blank workbook and label your columns and rows.
  • The template provides space to add notes or detailed descriptions as needed.
  • Compare the number of items sold to your monthly sales figures to make sure your inventory tracking sheet matches actual sales.

Cash flow statement templates are particularly useful for companies that are scaling up and need to show how sustainable their cash inflows are. For example, a clothing startup might use a cash flow statement template to quickly work out their cash balances over a 12-month period to show a lender that the startup can afford to take on a new business loan. The double-entry method of bookkeeping is standard for larger, more complex businesses.

Each line item in this Excel template allows for capturing essential details. Without a structured system for expense tracking—especially when you have a team—you run the risk of errors, oversights, and disorganized financial records. ClickUp automatically generates a table of contents, which makes it easy to navigate to different sections of the document.

Free Call Log Templates in Excel & ClickUp

A simple balance sheet template provides a quick snapshot of a company’s financial position, at a given moment. Use this balance sheet template to summarize the company’s assets, liabilities, and equity, and give investors an idea of the health of the company. If you’re looking for a more flexible and dynamic accounting template with less manual labor involved, we’ve got you covered.

bookkeeping excel template

A cash flow statement is important to provide a good picture of the inflow and outflow of cash within your company. It shows where the money came from (cash receipts) and where the money went to (cash paid). Use a cash flow statement template, in conjunction with your balance sheet and income statement, to provide a comprehensive look into the financial status of your company. This cash flow template includes two additional worksheets to track month-to-month and year-to-year cash flow.

Before you can start tracking your own transactions, you need to clear the placeholder data. Every transaction you record gets sorted into one of these categories. Not only will that save you valuable time, but it also keeps you organized. We’re pretty good at knowing which columns go where — which means that we’ll automatically turn your imported Excel workbooks into a clearly labeled and fully customizable monday.com board in just a few clicks.

Reconcile a financial account by creating a record of transactions to compare to your bank statement. This reconciliation template includes sections for recording deposits in transit and outstanding checks, and it automatically calculates your statement balance. 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.

Keeping a detailed record of every single business transaction shouldn’t feel like rocket science, even in the absence of accounting software. Like any ClickUp template, you can customize this one to suit your needs. Whether you want to add progress bars and formulas or set up reminders for upcoming payments, it’s all possible. Every time a transaction takes place—whether you’re moving money, cash, or credit—you need to enter it into the Transaction sheet, in its own row. First, download a free invoice template for Excel, or get one for Google Sheets.

Record debit and credit transactions and balances for multiple accounts in this accounting journal template. Edit the list of account descriptions and codes to match your business accounts. The template includes space to record trial balance, adjusting entries, adjusted trial balance, income statement and balance sheet for each account. On this page, you’ll find many bookkeeping templates, including a cash book template, a business expense spreadsheet, a statement of account template, and an income statement template.

Excel Business Expense Template by Business Accounting Basics

Set income estimates for the different services you offer and business investments you’ve made. If your business buys or sells products or services on credit, then the Accounting Template by ClickUp is for you. This two-in-one template is made up of Accounts Payable, which lets you track the payments owed to your vendors and suppliers, and Accounts Receivable for tracking balances owed to you. Excel spreadsheets aren’t up to the task of creating a proper Cash Flow Statement that you can present to investors.

It enables you to estimate how much money your business will make and spend at any given point, and will allow you to take the appropriate steps to ensure that your cash outflow is not more than your inflow. Use a simple cash flow forecast template to get started quickly. Be sure you include all income including revenue and investments, and account for all expenses including fixed costs. Using this accounts payable template will help to keep track of what you owe to each party, and will provide a quick look at the total outstanding balances and due dates. We’ve also included links to similar accounting templates in Smartsheet, a spreadsheet-inspired work management tool that makes accounting processes even easier and more collaborative than Excel.