Excel Accounting Template For Small Business
An Excel Accounting Template for Small Business is a quick guide to help your small business develop its own accounting, inventory and cash management system that can allow you to keep up with the fast-paced world of business. An excel template is available free from numerous companies offering these programs for small businesses.
In my personal experience, it was not always easy to determine which set of accounting and management tools would work best for me. My budget for purchasing and implementing all of them included an estimated annual cost of approximately $7,000.
This amount is just a personal development budget, so I did not have to worry about making any one set work for me. Since I had planned to make this project very “cost effective,” it was a good idea to make the program as easy to use as possible.
The first step I made was to select the financial modeling software and it’s associated Excel template for small business. There are several programs available, including those offered by Microsoft, accounting firms and discount web sites. I settled on Microsoft’s newest release, “My Shop Manager,” because it was very user friendly and I thought that it would simplify the work I needed to do.
I started by opening up the program, completing the initial setup process and then choosing the scripting language. Then I loaded up the actual Excel template for small business, but decided not to copy it to the clipboard. As a matter of fact, in order to simplify things further, I went ahead and chose to copy the entire template into an excel file.
Opening up the template, I saw several rows of tables, including the inventory, sales, cash flow, accounts receivable, the balance sheet, statements of income and expenses, sales and purchases, and the income statement. Each table, or cell, in the table was labeled withan assigned function. These cells were formatted to mimic the format of standard spreadsheets.
After choosing to turn on scripting capabilities, I could select from many different kinds of programs, from simple scripts to complex scripting programs. By starting with a simple script, I was able to see if it was going to work well for me. The initial scripts are free and can be purchased after reviewing the documentation. The Adobe Acrobat reader is also included with every download.
Another important thing to remember when using Excel as an accounting and finance tool is that it should not replace traditional accounting procedures. In my case, my business consisted of two stores, with separate cash registers and accounting functions. Using the template, I was able to create records for every transaction.
Because of the large online store I operated, I needed to use an online payment processor, and transactions had to be processed quickly. By assigning each transaction to a specific spreadsheet, I was able to track multiple transactions in one place. With a typical sales record, it would take several different sheets and spreadsheets to track everything.
However, with the Excel Accounting Template for Small Business, this task was accomplished easily. Instead of creating one set of sheets, or spreadsheets, it made it easy to keep them organized.
Financial statements and annual reports were also very easy to create. This was done with much less time and effort than what I would have normally needed. Some people find it hard to believe that there are very many financial tools that are available, but I found one that was extremely useful for my small business. PLEASE LOOK : excel accounting spreadsheet free download
