Looking for Accounting Spreadsheet Templates? Here Are Our Top Picks

Managing your business finances doesn’t have to be complicated or expensive.

Whether you’re launching a new business, running a startup, or just trying to organize your daily transactions, a solid accounting system is a must.

Accounting spreadsheet templates offer an easy and cost-effective way to stay on top of your finances, keeping everything organized and transparent. That way, you don’t need to hire a bookkeeper, invest in high-tech accounting software, or attend costly training sessions to get started.

While outsourcing certain tasks, like payroll or accounts receivable, might make sense as your business grows, starting with spreadsheet templates is a practical and customizable option for small businesses and freelancers alike.

In this article, you’ll discover everything you need to know about accounting spreadsheet templates: how to choose the right one, the key features to look for, and the best setups available.

With the right tools, you can take control of your finances and build a bookkeeping system that works for your unique needs.

Why use accounting spreadsheet templates?

Accounting spreadsheet templates simplify financial management, providing clarity and control over your business finances. They help you understand your cash flow, prepare for taxes, and avoid any possible financial surprises.

Imagine running a local bakery where you track daily sales, ingredient purchases, and employee wages. A bookkeeping spreadsheet can help you stay organized and ensure no expense goes unrecorded. Or perhaps you’ve just launched a creative agency and need to monitor expenses like software subscriptions and client project costs.

With a customizable expense tracking template, you can manage your cash flow and stay aligned with your growth goals.

Here are a few more benefits of using an accounting Excel workbook setup.

Benefits of accounting spreadsheet templates

Whether you’re juggling invoices or preparing for tax season, accounting frameworks make managing your finances simpler and more efficient.

Here’s why they’re a game-changer for small businesses and startups:

• Financial management: spreadsheets keep your business organized by providing a systematic way to manage finances and record transactions.

• Flexibility and personalization: customize to fit your unique business needs, creating a bookkeeping system that works for you.

• Standardize workflows: maintaining consistency in your financial processes, whether managed by a seasoned team member or a new hire, is crucial for long-term success.

• Decrease operational costs: manual accounting often leads to wasted time, higher labor costs, and errors. Spreadsheets streamline processes, reducing inefficiencies.

• Automation: Excel matrixes can automate repetitive tasks, such as generating invoices or categorizing transactions, saving hours of manual work.

Who can benefit from these templates?

Accounting spreadsheet templates are versatile tools that cater to a wide range of users.

Whether you’re just starting out or looking to simplify your processes, they offer an excellent solution for effective financial management.

Excel matrixes can help:

• Startups: launching a new business requires careful budget management and financial tracking. These frameworks offer an easy way to monitor monthly expenses and income while scaling up.

• Small Businesses: for small business owners, Excel templates provide a reliable starting point for managing finances. They’re a cost-effective alternative to bookkeeping software, helping you stay organized until you’re ready to grow.

How to choose the right accounting spreadsheet template

Now that you’re considering integrating accounting templates into your small business or startup, how do you choose the right Excel template?

Keep in mind these essential features when you pick the best accounting frameworks to match your personal or business expenses.

Key features to look for

When evaluating any Excel template, think about how it will align with your business processes and whether it offers the flexibility and functionality to grow with your needs.

Also, consider factors such as:

• User-friendly design: look for templates with a familiar interface, such as those designed for Microsoft Excel or Google Sheets.

• Customization: the best frameworks let you tailor them to your specific needs, whether it’s adding custom calculations, charts, or categories.

• Backup: check if the Excel template allows you to securely back up your financial records in the cloud, ensuring your data stays safe and accessible at all times.

• Cost: many matrixes can be found in a free spreadsheet format, while some may be included with accounting software.

Compatibility with popular software

When choosing a template, consider whether it’s compatible with the software you use and other devices. For example, if you create an Accounts Payable report, you’ll want to ensure you can open it in Google Sheets or Excel.

MobiSheets templates, for instance, support formats like .xls, .xlsx, .xlsm, or .csv, making it easier to switch between platforms without losing data integrity.

Top 10 accounting spreadsheet templates

Streamline your bookkeeping system with 10 of the most popular free accounting spreadsheet templates for small businesses or startups.

Each one is designed to simplify a specific aspect of your financial management.

Cash flow statement template

The cash flow statement provides a clear picture of the inflows and outflows of cash within your business.

This Excel template is an essential tool that provides you with an overview of your business income, expenses, and bank balances, making it easy to identify problems and collaborate on effective solutions.

Why do you need a cash flow workbook?

This Excel bookkeeping template can help you:

• Effortlessly track day to day finances.

• Perform bank reconciliation with automatically calculated balances.

• Create forecasts to plan your finances by month, week, or day.

Monthly budget template

The monthly budget helps businesses and individuals set and track their personal finances and business transactions, looking ahead to the whole year. You can easily adjust the budget as circumstances change and compare actual spending to planned figures.

Why do you need a monthly budget workbook?

This free Excel bookkeeping template can help you:

• Maintain accurate financial records for monthly bookkeeping.

• Track spending and savings goals in one place.

• Stay within budget, even during tight financial periods.

Expense tracking template

Ideal for tracking income and expenses, this template focuses on credit card transactions and vendor bills, ensuring organized accounts payable (AP) data.

Why do you need an expense tracking workbook?

This Excel bookkeeping template can help you:

• Prevent overpayments or missed payments with organized AP records.

• Automate calculations for VAT and non-VAT expenses.

• Keep a detailed list of business expenditures for better financial control.

Invoice management template

This one is perfect for creating professional sales invoices with built-in formulas to calculate totals and due dates. It also includes an invoice list to track invoice payments and outstanding balances.

Why do you need an invoice management workbook?

This free Excel bookkeeping template can help you:

• Save time with ready-to-use invoice templates in Excel.

• Automatically calculate totals, reducing errors.

• Centralize invoice tracking to manage cash flow efficiently.

Profit and loss statement template

Also known as an income statement sheet, the profit and loss (P&L) matrix tracks income and expenses over a specific period, providing insights into business profitability.

Why do you need a P&L workbook?

This Excel bookkeeping template can help you:

• Gain a clear overview of business profits or losses.

• Compare income and expense figures across the year.

• Identify profitable and underperforming aspects of your business.

Balance sheet template

The balance sheet provides an overview of your assets, liabilities, and equity at any given time, helping you understand your financial position and what comes and goes into your bank account.

Why do you need a balance sheet workbook?

This free Excel bookkeeping template can help you:

• Meet legal requirements for limited companies.

• Analyze financial ratios to evaluate business performance.

• Track retained earnings and other critical metrics over time.

Payroll management template

This matrix organizes payroll projects by documenting operating procedures and providing visibility into payroll schedules and tasks.

Why do you need a payroll management workbook?

This Excel bookkeeping template can help you:

• Ensure accurate and timely payroll management.

• Provide clear instructions to staff for faster project turnaround.

• Scale payroll operations as your business grows.

Accounts receivable template

This framework centralizes client receivable information, including payment terms, balances, and due dates, making collections easier to manage.

Why do you need an accounts receivable workbook?

This free Excel bookkeeping template can help you:

• Automate account receivable calculations to reduce errors.

• Prioritize overdue invoices.

• Keep track of client communications regarding payments.

Tax preparation template

This checklist matrix organizes the necessary information for tax filing, ensuring your team collects everything needed to meet deadlines.

Why do you need a tax preparation workbook?

This Excel bookkeeping template can help you:

• Simplify taxes by centralizing client data.

• Ensure compliance with tax regulations through organized documentation.

• Automatically calculate deductible expenses for home offices or other setups.

Business startup costs template

Designed specifically for new businesses, this matrix helps you plan and track startup expenses, ensuring you stay on budget during the critical early stages.

Why do you need a business startup costs workbook?

This free Excel bookkeeping template can help you:

• Identify and categorize all startup costs for better financial planning.

• Track progress toward financial goals and ensure proper fund allocation.

• Adjust plans as needed based on real-time financial insights.

How to effectively use accounting spreadsheet templates

Using accounting templates is straightforward, but to maximize their value, you’ll want to customize them for your specific needs.

Start by downloading your chosen Excel template. Next, tailor each accounting Excel template based on the reports you need.

• For a Cash Flow Statement, ensure all inflows and outflows relevant to your business are included, and customize categories for income and expenses.

• Adjust the Monthly Budget Template with your expected expenses and income, categorizing each for easy tracking.

• Use the Expense Tracking Template to monitor vendor bills and payments, adding columns for due dates and payment statuses.

• Personalize the Invoice Management Template by adding your branding, business details, and any extra fields specific to your invoicing process.

• Ensure the Profit and Loss Statement Template reflects your primary revenue streams and expense categories.

• Modify the Balance Sheet Template to accurately track your assets, liabilities, and equity.

• Adapt the Payroll Management Template for the specifics of your team, including employee details and payroll schedules.

• Use the Accounts Receivable Template to manage client payments and overdue invoices, adding custom notes or reminders if needed.

• The Tax Preparation Template can include sections for relevant documents, deductible expenses, and client data.

• For startups, the Business Startup Costs Template should detail all initial expenses to help you plan your budget.

Upload your Excel templates to a shared file system, such as Google Drive or MobiDrive, so your team can access and update them in real time.

Regularly update your Excel templates with new transactions, ensuring your financial records remain accurate and up-to-date.

Resources for finding accounting spreadsheet templates

Finding the right accounting spreadsheet templates doesn’t have to be a challenge.

Search for free Excel templates online

A simple online search using keywords like "free accounting spreadsheet templates" or "bookkeeping template PDF" can lead you to a wealth of options.

Leverage built-in software templates

Some software solutions, like MobiSheets, come preloaded with built-in templates for essential accounting tasks such as invoicing, expense tracking, and cash management.

These templates are designed to be user-friendly, easily customizable, and compatible with multiple formats like .xls and .csv.

Explore template libraries in popular tools

Additionally, platforms like Microsoft Excel and Google Sheets include extensive libraries of templates that can be accessed directly within the software.

By searching for specific needs such as "budget," "profit and loss," or "invoice," you can find ready-to-use templates.

Closing thoughts

Accounting spreadsheet templates are powerful tools for managing your business finances efficiently and cost-effectively.

By customizing the right templates to fit your unique needs, you can streamline bookkeeping processes, save time, and stay on top of your financial health.

Whether you’re running a small business or a startup, these templates provide the perfect starting point for organized and accurate accounting.

Try MobiSheets now and take the first step toward simplifying your financial management!