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Here’s one that you can download and use for free. While you can create your own bookkeeping template from scratch, the easiest way is to download a ready-made Excel bookkeeping template.Microsoft Excel offers an excellent platform for basic bookkeeping, particularly for small business owners and entrepreneurs.To help you get started, we’ve put together this Excel bookkeeping guide, complete with a customizable Excel bookkeeping template that you can use for your small business. The online version of Excel is completely free, which may help you save on business costs. While some larger companies rely on premium accounting software like QuickBooks, if you’re running a small business or startup, you can consider using Microsoft Excel for your bookkeeping needs. That’s not only important for cash flow management, but you can also use the information to prepare more comprehensive financial statements like a balance sheet, income statement and cash flow statement. Ultimately, proper business bookkeeping can give you a clear picture of your sources of revenue and main expenses. This includes customer name, vendor name, date issued, due date, amount, outstanding accounts receivable, accounts payable etc. Through bookkeeping, you can properly organize all your income and expenses, including information on invoices. A good bookkeeping system can help you accurately record and save all these business transactions.īy definition, bookkeeping refers to the process of recording and categorizing all the financial transactions of your business. This may range from tracking net income and expenses, to bank reconciliation and everything in-between. One of the most important aspects of small business accounting is managing day-to-day finances.
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