Excel template for small groups bookkeeping Community Accounting Plus

Excel template for small groups bookkeeping Community Accounting Plus

bookkeeping template

In Bokio it is easiest to record transactions using smart bookkeeping templates. If you have the Business plan, you can also create your own accounting templates! Maybe you have created your own accounts for your company and you now want to be able to use a smart template for them, or there is simply no accounting template for exactly what you are recording.

Now, when you start entering your accounts expenses and receipts in Excel, the numbers will have the currency symbol added. If you are asking how do I change the currency in Excel, you can use the tiny drop down triangle to the right of the Accounting Number Format button. If you wrote “Henderson – Lawn” consistently every time you mowed Mr Henderson’s lawn it will be so much retail accounting easier to work out how much money you’ve earned from Mr Henderson. Coupled with the date you entered earlier you’ll also be able to see how Mr Henderson has paid you each month. No matter how frequently or infrequently you mow Mr Henderson’s lawn or any other job for Mr Henderson, entering consistent data makes it straightforward to see how much he’s spending with you.


Many tutorials are available online and on YouTube if you want to create your own templates. Thestatement of accountor customer account template statement is used to remind customers how much they owe. By entering actual sales revenue each month, you can compare your projected sales with reality and adjust your forecasting methods as needed. The free template offered on this website is easy to use and can be customized to include your own products or services.

bookkeeping template

Exclusive Amount – the formula in this column deducts the sales tax amounts from the inclusive invoice amount in order to calculate an amount excluding sales tax. For accounting purposes, the exclusive amounts are allocated to the income statement, the sales tax amounts are allocated to the appropriate sales tax control accounts and the inclusive amounts are allocated to trade debtors or bank . These warnings just refer to the missing parts for the second sales tax calculations in the formulas and can safely be ignored. Review the Status column on the TB sheet and ensure that there are no items highlighted in red. The row with the group integration in the Key column on the income statement or balance sheet therefore needs to be deleted. All the transactions recorded on the Income and Expenses sheets are automatically updated to the monthly income statement which is included on the IS sheet.

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We have also created a purchase order log to record all the orders. TheProfit and Lossstatement orIncome StatementExcel accounting template allows you to add a whole year’s figures onto one https://www.scoopearth.com/the-importance-of-retail-accounting-in-improving-inventory-management/ page. The FreeCash Flow Forecastwill enable you to set a forecast for a year. Knowing how much money you may have available in a few months helps with your accounting and business planning.

bookkeeping template

Sales Tax 2 Amount – this column contains a formula which calculates the state sales tax amount based on the tax 2 code selected in column G. Tax Inclusive Amount – enter the transaction amount inclusive of sales tax. Income and receipts should be entered as positive amounts but if you have an expense or payment type transaction that is of an income or receipt nature, the transaction can be entered as a negative value. For example, entering a credit note that relates to an invoice that has been recorded previously. In most instances, expenses should however be recorded on the Expenses sheet. The opening trade creditors balance should be entered on the Expenses sheet .

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The default accounts list can be customized by editing the existing accounts or by inserting new rows for additional accounts. The period for which the trial balance is calculated is determined by the month-end period that is selected at the top of the sheet in column G. Tax 1 Code – this column contains a drop-down list which enables you to select one of the tax codes added to the Setup sheet and relates to national or federal sales tax.

  • All the transactions recorded on the Income and Expenses sheets are also automatically updated to the monthly balance sheet which is included on the BS sheet.
  • This innovative accounting template enables users to record income & expenses and automatically produces a trial balance, income statement, cash flow statement and balance sheet.
  • The calculations can also be displayed for a specific sales tax code by simply selecting the appropriate code from the list box at the top of the sheet.
  • A selection of downloadable templates and guides to help with the bookkeeping for your small business.
  • This error message means that there is an imbalance in the template and the value of the imbalance will be displayed above the error message for balance sheet errors and below the error message for cash flow statement errors.

The template provides for including accounts as a group total or as individual accounts on the income statement, cash flow statement and balance sheet. If an account is integrated on an account group basis on the IS, CFS or BS sheets, the key in column A should contain the account group number followed by a “G”. If an account is integrated on an individual account basis, the key in column A on the IS, CFS or BS sheets should be the full account number with no additional characters at the end. TB – this sheet contains a full list of the accounts that are included in the template and a trial balance which is automatically calculated based on the transactions that are entered on the Income and Expenses sheets.

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