How To Do Bookkeeping For Small Businesses

How To Do Bookkeeping For Small Businesses – We’ve rounded up 23 of the best accounting templates for small business owners. Each template is downloadable, printable and fully customizable to meet your business needs.

On this page, you will find many accounting templates, including a cash book template, a business expense spreadsheet, a statement of account template, and an income statement template.

How To Do Bookkeeping For Small Businesses

Record debit and credit transactions in this two-column cashbook template to keep track of your cash balance. Enter the date, description and amount for each transaction and the template will calculate the total and total cash balance.

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Use this balance sheet template to report your business assets, liabilities, and equity. The template calculates common financial ratios such as working capital and debt-to-equity ratio. Edit the example line items to list all of your current and long-term assets and liabilities and view subtotals for each section and column.

This trial balance compares the opening and closing balances on each of your financial accounts based on debit and credit transactions over a period of time. The template calculates the total balance and total variance across all accounts. Customize tag titles and categories as needed to reflect your unique business.

. If you’re self-employed, include home office expenses and other deductions to save time at tax time. The template contains the total sum of the costs, adjusting the total with each new entry.

Save time with this basic invoice template. Customize with logo and business details and enter the invoice number, date, customer ID number and payment terms for each invoice. Fill in the list of payments made and adjust the tax percentage to calculate the total amount paid.

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Keep track of all your invoices with this simple spreadsheet. List each invoice with ID number, date, customer name, description and amount. When you receive a bill, include the date it was paid. The template is running every time you enter a new invoice and calculates the total amount to date.

This statement of account template shows all financial transactions between your business and a customer during a specific period of time. The template provides an account summary, including the user’s past account history, credits, current payments, balance, and expiration date. Customers also get a list of payments and credits, including invoice numbers, dates and amounts.

Track your current inventory cost and determine the cost of your items to sell with this inventory tracking template. List physical inventory by item number, name, description, type, and location, and record purchases, including purchase dates, vendors, and prices. Compare the number of items sold to monthly sales data to ensure that your inventory tracking sheet matches actual sales.

This template includes a ledger for tracking customer payments and an aging account for tracking outstanding payments. The template will automatically populate the invoice aging sheet after you populate your invoices. Add invoice terms, amounts, and payments to view current and overdue invoices.

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This accounts payable template helps you track the money your business has for suppliers. List balances, payments made, and vendor names, invoice numbers, and amounts. The template subtracts payments to show the running balance for each line item and shows the total amount due to all vendors at the top of the sheet.

This basic cash flow statement tracks the movement of money in and out of your business and compares financial data between periods. The template, for example, lists cash receipts, payments, operating expenses, and overheads. Use this template to review each item and determine the total month-end cash position for each period.

Create a detailed report showing quarterly cash flow forecasts. This template allows you to track the difference between expected and actual cash positions each month and calculates total cash payments and net cash change.

This simple yet comprehensive template allows you to create a 12-month cash flow forecast for your small business. The spreadsheet includes monthly columns to record forecast and actual cash flow. List cash receipts and cash payments to see your expected and actual cash position for each month.

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Review income, expenses, and net income before and after taxes with this income statement template. The template takes into account all sources of income and business expenses when calculating net income. Examples of revenue sources include sales, services rendered, and interest. Business expenses include advertising, office supplies, insurance, utilities, and depreciation.

This profit and loss dashboard template provides a visual representation of financial data, including total business revenue, cost of goods sold, gross profit, earnings before interest and taxes, and net income. Get a snapshot of your monthly profit and loss report by entering your financial information and selecting the month you want to view in the dashboard.

Record debit and credit transactions and accounts for multiple accounts in this ledger template. Edit the account description and list of codes to match your business accounts. The template includes options for recording trial balances, adjusting entries, adjusting trial balances, income statements, and balance sheets for each account.

Track business expenses like transportation, entertainment, lodging, and meals with this expense report template. Define the time frame at the top of the spreadsheet and list all expenses with dates for each transaction. The template provides space to add notes or specifications as needed.

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Keep a complete record of all financial accounts entered into your general ledger. For each account, include a code, brief description, and account type, such as asset, liability, equity, or expense. The template lists the accounting report associated with the account, such as a balance sheet or income statement, and indicates whether a debit or credit will increase the amount in the account.

Link the financial account by creating a transaction log to compare with your bank statement. This reconciliation template includes sections for recording deposits on transit and outstanding checks and automatically calculates your statement balance. Duplicate the template to generate a series of monthly reports.

For related templates, including petty cash and general ledger accounts, see our collection of free reconciliation templates.

This budget template includes tabs to record income, expenses, and cash flow. List sources of income and business expenses. The template calculates monthly and yearly totals as you add the amount received or spent on each item. Use the Cash Flow tab to record transactions and manage your cash balance.

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Use this mileage log template to track commercial vehicle usage and mileage expenses. The template includes columns for travel dates and purpose, origin and destination points, odometer readings, and total miles. If you are using this sheet to pay employees, enter the payment amount at the top of the template to determine the total amount owed.

Track employee hours and calculate weekly wages. This timesheet template includes vacation time, regular and overtime, sick days, vacation time, and holidays. Enter the first day of the week at the top of the template and the dates will automatically populate the timesheet. See hourly rates, total hours and total pay for each day and week.

This payroll template includes a payroll slip and employee information log to help you process payroll. The Paystub tab shows payments and deductions for an individual employee, while the record lists the employee’s job title, salary, vacation and sick pay, and pay schedule. It shows before- and after-tax deductions, such as 401(k) contributions and insurance and federal and state taxes.

They are documents that help track and manage financial information and business operations. For small businesses, templates provide an easy way to record payments and expenses, prepare financial statements, process payroll, and prepare tax reports.

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Empower your people to go above and beyond with a flexible platform designed to meet your team’s needs – and adapt as those needs change. The platform makes it easy to plan, capture, manage and report on work from anywhere, helping your team to be more efficient and get more done. Report on key metrics and gain real-time visibility when events occur with comprehensive reports, dashboards, and automated workflows designed to inform your team’s communication and data. When teams are told how much work they have to complete, it doesn’t say how much more work they can do at the same time. Try it for free today. A chart of accounts, often abbreviated as COA, is the basis of a dual income accounting system for small startup businesses. It is basically a list of all the accounts in the general ledger that the business uses to code each accounting transaction. This small business template chart of accounts provides an example using some common account names.

For small businesses, it is important not to complicate the balance sheet. A small business doesn’t need as many accounts as a large corporation. The exact layout of the basic chart of accounts depends on the nature of the business, for example, a service business may not need a chart of accounts, while a restaurant may need a chart of accounts.

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