![]() You can include both your income and expense spreadsheets in the same workbook. Once you do that, click on the “Available Templates” option and choose “Blank Workbook“. Open the application, click on “File” and then select “New”. Let us Microsoft Excel format for this example. So, here are the steps that will help you create your own sample expense report and income statement spreadsheet: Open your spreadsheet or worksheet application Once you have all of the information within the example spreadsheet, you can use it to analyze how you go about your spending and how you can prevent yourself from spending more than you need to. I added some examples just so you can see how it works.Download Now How to create expense and income spreadsheetsĪ sample budget spreadsheet is one of the best tools that you can use to manage your finances plans. At the end of each quarter, I submit these spreadsheets quarterly (and at the end of each year) to my CPA so he can tell me how much to pay myself, how much to fund my IRA, and how much to pay the IRS.įeel free to use this tracking spreadsheet system, just be sure to make a copy before you start editing it. ![]() I use a color code method for expenses and change the fill color in sheet 2 as I go to be sure everything is accounted for before adding the totals in sheet 3. Once it's paid, I move that info above and add the other details. I list the date the invoice was sent, sponsor, invoice number and the amount due. Money that's been paid is listed at the top. Sheet 1 is for money that's come in and money that needs to be collected. Grab the tracking spreadsheet system here. You can toggle between the sheets on the bottom. Here is a spreadsheet with how I track income (sheet 1), expenses (sheet 2) and categorize expenses (sheet 3). Please consult your CPA or tax professional for a guidance. I'm just sharing the tracking method I've been using. ![]() Tracking business expenses and income spreadsheetsįor the record, I am NOT a CPA or tax professional. Using some sort of spreadsheet seemed like a better option and using Google Drive spreadsheets worked perfectly since it's free, can be accessed from any computer or smartphone, and is easily shared. I had a Mac and my tax professional had Windows and the two versions couldn't interface with one another. I know there is software out there to help you do this sort of thing, but at the time using Quickbooks wasn't an option for me. That's why I created a Google spreadsheet to help me (and you) do just that. Tracking business expenses and income is so important for tax preparation, but also for tracking your business's growth from year to year. I knew I needed to keep better records from that point on. In January of 2014, I sat down to figure out what I needed to report for taxes and ended up scrolling through a year's worth of blog posts and PayPal transactions to figure out what I made in products and cash. In fact, I didn't keep any record at all. I started earning a bit of income from my blog in 2013 and I did not keep the best records. I knew Google spreadsheets would be perfect for tracking business expenses and income so I made a template that I've been using ever since. When I started monetizing my blog I quickly realized that I needed to figure out how to track income and expenses for tax purposes.
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