How to Make a Basic Accounting Spreadsheet For Small Business
A basic accounting spreadsheet for small business might include both a business and a personal section. The business section would include the financial information such as business assets, property, workers, cash flow, revenues, profits, and expenses. A personal section would include the personal information such as income and expenses, profit sharing, tax liability, financial statements, liabilities, and warranties.
Since this type of spreadsheet is more extensive than typical financial statements, some or all of these sections can be combined in one general ledger. This makes it easier to manage a small business and keep track of all its transactions.
One option is to enter all of your business information on the business section. Then, you may enter your personal information on the personal section.
In addition to business and personal information, you can list your inventory on the Inventory section. Then, you can create a budget on the section.
Finally, you can include accounts receivable and business credit card receivables on the Accounts Receivable section. Then, you can enter your outstanding accounts payable on the section.
You can also include a report on the Financial Report section. You can use this to document any changes that have occurred over the past year. However, in most cases, a single copy of the financial report would suffice.
You can include a section on Company Records, including accounting books, journals, manuals, and contracts. Additionally, you may want to include a section on Corporations. Keep in mind that the Corporation Section should be a standalone section since this is the only section where you can add personal information to the business section.
Another option is to include transaction data and other related data on the Transactions section. Additionally, you can include records on credit and investment.
If your personal account is large, you may want to have a separate section for the Personal Data. On the other hand, if your personal account is small, you may only need a single Personal section.
Another possibility is to include a section for Line Item Reports. This section includes data on sales, revenue, and expenses, but it does not include profit, balance sheet, or cash flow information.
These simple financial templates will get you started on your own financial spreadsheet for small business. With a bit of careful organization, it can help you keep a check on your finances and keep your information organized and accurate. YOU MUST SEE : basic accounting excel spreadsheet