How to Do Small Business Bookkeeping in Excel Like a Boss

Many businesses have traditionally used programs like Excel to handle their business finances. But we live in the future, and technology exists to make this arduous, expensive approach to bookkeeping go the way of the dodo. Now, if you don’t have it, it’s still pretty quick and easy to change your cells to the accounting format. At first glance, accounting and bookkeeping may seem very similar, but they each encompass different activities. To contrast bookkeeping and accounting, we’ve outlined the main differences in the chart below.

Others are self-taught and learn bookkeeping simply through using QuickBooks or other accounting software. Bookkeeper360 is best for businesses that occasionally need bookkeeping services as well as those that want integrations with third-party tools. Create a detailed report that displays quarterly cash flow projections. This template allows you to track the variance between your projected and actual cash position for each month and calculates total cash payments and net cash change. List each invoice by ID number, date, customer name, description, and amount.

Profit and Loss Dashboard Template

No assurance is given that the information is comprehensive in its coverage or that it is suitable in dealing with a customer’s particular situation. 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. If you’re like most modern business owners, odds are you didn’t become one so that you could practice professional-level bookkeeping. Outsourcing the work to a seasoned bookkeeper can allow you to focus on your business plan and growth.

Excel Bookkeeping and Bookkeeping services

Even with these tools, you may not have the expertise you need to handle the responsibilities of a bookkeeper. Those baby steps can help you manage your organization on a new and improved system. Small steps also give everyone time to familiarize themselves with the new bookkeeping software.

Step 2 – Customize Your Chart of Accounts

It’s that little extra support without all the overhead of an employee. An invoice contains details of the service rendered or product sold, including the transaction date, quantity, amount, tax, payment terms, and other relevant information. A sales invoice facilitates the payment of services offered or products sold.

Excel Bookkeeping and Bookkeeping services

Starting from an understanding of your target market, we will develop a plan with easy to follow steps. We provide third-party links as a convenience and for informational purposes only. Intuit does not endorse Excel Bookkeeping and Bookkeeping services or approve these products and services, or the opinions of these corporations or organizations or individuals. Intuit accepts no responsibility for the accuracy, legality, or content on these sites.

What kind of services do bookkeeping services provide?

Set income estimates for the different services you offer and business investments you’ve made. Create an Excel template and use it to generate the balance sheet each month. 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.