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The Ultimate Excel Accounting Template For Bookkeeping

statement of account

This trial balance worksheet compares beginning and ending balances on each of your financial accounts based on debit and credit transactions over a given period. The template also calculates the total balance across all accounts and the total variance. Customize account titles and categories as needed to reflect your specific business. Use QuickBooks to save time and increase the accuracy of your accounting records.


There are a number of free xero advisor directory templates for Excel and Google Sheets you can download and import onto your desktop or web app. 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. Each time that you post a journal entry, post the activity to the general ledger. If you post a journal entry that impacts cash and inventory, you also post the activity to those accounts in the general ledger. On your balance sheet, you’d add the $10,000 increase in liabilities to the $0 change in equity to get a $10,000 assets increase.

Copy and paste your into the spreadsheet. You can think of equity as the true value of your business. An expense report is used to keep a detailed record of your business spending. It shows the nature of an expense, the amount spent, and any other important information. It’s also used if you make any expenses while completing a service for your client. But make sure you do not include any personal income or expenses, or non-deductibles in this spreadsheet.

Create an Excel template and use it to generate the income statement each month. Keep the formulas for the subtotals so that you can check your work. The total dollar amount you post to each debit account must equal the total dollar amount of credits. Each journal entry has an equal amount of debit and credit dollar amounts. The total debits and credits for the partial listing total $20,000. The number of debit and credit entries, however, may be different.

Excel Cash book template

Most people are familiar with Excel, and using the application is straightforward. But keep in mind that Excel bookkeeping is not a solution for a growing business. As your business grows, you’ll need to post more accounting transactions.


This free Excel bookkeeping template is easy-to-understand, simple-to-use and completely free. Chartered accountant Michael Brown is the founder and CEO of Double Entry Bookkeeping. He has worked as an accountant and consultant for more than 25 years and has built financial models for all types of industries.

Monthly Bank Reconciliation Template

Cash ReceiptsA cash receipt is a small document that works as evidence that the amount of cash received during a transaction involves transferring cash or cash equivalent. The original copy of this receipt is given to the customer, while the seller keeps the other copy for accounting purposes. You will likely have multiple bills to pay in a month, to different companies and on different dates. It is important to have a way to track when specific bills are due, the amount that is due, and to whom. Use a simple payment schedule template to track these details.

In your second year of trading you need to include ‘Retained Earnings” under the Equity section (which is just your “current year earnings” from the first year). This template is very similar to the cash book above, however it has a Balance Sheet Report so you can track your assets and liabilities and see the financial position of your business. Most of these excel bookkeeping templates are easy to customize to your requirements. Track the value of your current inventory and determine the cost of goods sold with this inventory tracking template.

Use this expense report template to quickly input specific expense details and obtain approvals as needed. An accounting journal is an accounting worksheet that allows you to track each of the steps of the accounting process, side by side. This accounting journal template includes each step with sections for their debits and credits, and pre-built formulas to calculate the total balances for each column. 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.

Make copies of the Income Statement for each month

After preparing all the above excel sheets, save the file to a secure location by giving a proper name to the folder. Get our latest news and information on business finance, management and growth. Smartsheet provides a better way to unify collaboration and automate workflows so you can spend more time on the work that matters. This excel template allows you to prepare one, and you can also view an example and read up how it works.

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Microsoft Excel is one of the most versatile and useful programs in the Office suite. Creating your own accounting template in Excel is pretty straightforward — although it can be a little time-consuming. Balance sheet accounts, on the other hand, are permanent accounts. The benefit of the general ledger is that you can review every journal entry that impacted a particular account. Unfortunately, creating a general ledger using Excel is time-consuming. And a large number of data entries may increase the risk of error.

This is what you need to send to your customers at the end of the month. You can add or delete unwanted columns and delete or insert more rows. Governance & administration Configure and manage global controls and settings.

  • If you’re on the hunt for the perfect Excel accounting template but can’t find any Microsoft templates that fit the bill, you should check out’s free Excel accounting template.
  • If you’re looking for a more flexible and dynamic accounting template with less manual labor involved, we’ve got you covered.
  • OurFree Excel Bookkeeping Templatesare great if you want to manage basic bookkeeping and accounting tasks using Microsoft.
  • Use this income statement template to create a single-step statement that groups all revenue and expenses, and is helpful for businesses of all sizes.
  • Our easy-to-use Purchase Order template will automatically calculate total figures for you.

There may be times when you need to issue a refund to a customer. There are various reasons for raising them, including the return of goods and query on the invoice. It is a useful Excel bookkeeping template if finances are tight or you want to make some savings.

Intuit Inc. does not have any responsibility for updating or revising any information presented herein. Accordingly, the information provided should not be relied upon as a substitute for independent research. Intuit Inc. does not warrant that the material contained herein will continue to be accurate nor that it is completely free of errors when published. So you can “close” income statement accounts to the net income. Post each account’s ending balance from the general ledger into the spreadsheet. Use the column headers that you see in the Centerfield general ledger example to set up a general ledger template for each account in your chart of accounts.

Use this income statement template to create a single-step statement that groups all revenue and expenses, and is helpful for businesses of all sizes. 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 and where the money went to . 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. The balance sheet template can be used with the other bookkeeping spreadsheets such as the income statement to perform a comprehensive analysis of your business finances.

statement template

Asset and expense accounts increase with a debit entry, with some exceptions. Switch to the bookkeeping spreadsheet tab, and highlight the completed example cells and delete the contents. Do not include any cells in column N when trying to delete as this column contains protected cells.

  • There are screenshots of these sheets further on in this article.
  • And bookkeeping in Excel can lead to errors and inefficiency.
  • That being said, even if you’re good enough at Excel to compete internationally, there’s only so much you can do with it in a DIY bookkeeping context.
  • Add invoice terms, amounts, and payments received to view current and overdue balances.

It is less expensive because the excel spreadsheet is available on every computer/laptop; therefore, there isn’t any need to purchase any accounting software. In an excel template does not require any particular accounting skill; therefore, it is easy to record transactions. For Apr’18 to Jun’18 maintained in the excel spreadsheet, where cash inflow and outflow have been recorded using single-entry bookkeeping. Prepare an excel template for recording transactions according to the requirement while preparing an entity that can take the help of accounting professionals. A bill of lading is a document detailing how goods are being shipped from a seller to a recipient.

This pulls info from your Transactions and performs some basic calculations. Then it summarizes how much income your business has earned and spent within a defined date range. The better you know how to use it, the more you can get done. That being said, even if you’re good enough at Excel to compete internationally, there’s only so much you can do with it in a DIY bookkeeping context.

It includes details about the items being shipped, the quantity of items included in the shipment, and the destination address. Use a bill of lading template to ensure you complete this document for each shipping transaction. Use this spreadsheet to record all the invoices a business issues to a customer who have an account with the business. 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. These accounts track the money you have to spend to create the product you sell your customers or clients.




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