Keeping a balanced budget is crucial to saving money, but it can be quite difficult if there are lots of sources of income and expenses to keep track of. This balance sheet template was created specifically to make things a little bit easier because once you put in all of the necessary information you will immediately see if your budget is balanced or not. It really is a lot simpler than trying to create a calculator from scratch for this type of work.
Not only is this balance sheet template easy to use, it is also entirely free as well. The entire thing takes only a few clicks to get setup and once things are ready to go it will take no time at all to actually start working on your actual budget amounts.
The balance sheet template really is the easiest budget balancing system available and as long as you have Microsoft Excel it is completely free to use for as long as you need it.
Using the Balance Sheet Template
Using the balance sheet takes only a few simple bits of work. Begin by opening up the template and you should immediately see two columns, one for assets and the other for liabilities. Basically all you have to do to balance your budget is input all of the assets and liabilities you are responsible for and the template will automatically calculate everything for you. Additional categories can be quickly and easily added to the spreadsheet and Excel will automatically include the new values in the calculations as well.
If you want to make sure your budget is completely balanced then a tool like this balance sheet template is absolutely a necessity. It only takes a few seconds to setup and a few minutes to have it calculate everything for you, so why not try it out. It is definitely a lot faster than trying to manually create a calculator to do all of this for you and more importantly it is free to download. If you want to balance your budget then this balance sheet template is the absolute best tool available to get the job done right now.
Download: Balance Sheet Template
Whether it’s a company of 50, five, or one, the typical small business entrepreneur tends to wear several hats during the initial start-up phase.
It’s the bi-product of an unfortunate catch-22 scenario. Although you need highly-skilled and individualized labor to aid in the business legwork, you can’t afford a payroll until your company starts raking in revenue. And not surprisingly, revenue is based off of financial maintenance, organization and planning – something reserved almost solely for an individual with extensive accounting expertise. In other words, a role for an experienced chief financial officer or in-house accountant.
But not surprisingly, a sizable majority of accounting-cowering business owners tend to divvy out their bookkeeping responsibilities during initial start-up phases to outside accounting firms. That outside accounting help tends to be one of the most common reasons for financial failure for most young businesses, according to a recent report by The New York Times.
In order to lay the foundation for a flourishing, profitable business, C.E.O.’s must first play the role of head accountant and C.F.O. as well. Although it can be a frustrating, sticky and time-consuming process for most novice business owners, self-accounting, bookkeeping and handwritten documenting will undoubtedly be worthwhile ventures for the financial fitness of your future company.
5 Premier Excel Accounting Templates to Streamline Your Business Venture
One of the most common misconceptions concerning accounting is that it’s an impossible feat to manage on an individual basis. Most novice business owners assume that financial streamlining is a task associated with increased labor, costly programs, or confusing tutorials. Rather, one of the simplest and most cost-effective methods accounting can be achieved through the Microsoft Excel program.
And with the right excel accounting templates, business owners can effectively leverage, record and plan for their future financial portfolios. From general ledgers to income statements, here are our picks for the five very best excel accounting templates for entrepreneurs and business owners.
Meticulous daily tracking is arguably one of the most crucial components to small business accounting. Although it tends to require the least amount of lingo and specialized skill, it can be one of the most time-consuming and overlooked financial processes for most beginning business owners.
With the Daily Cash Transaction Report, business owners can track total cash sales, bank transfers, cash inputs, payments, and several other monetary transactions. The template also contains a space for users to log specific notes.
Download: Daily Cash Transaction Report
General ledgers are long-term financial maps for a company’s bookkeeping, and one of the most useful kinds of excel accounting templates a business owner can maintain. They can be used to plan financial statements, measure liabilities and equities, as well as help to pinpoint financial failures and successes.
With the General Ledger template, business owners can track the dates, descriptions and type of tender for their company’s long-term financial transactions.
Download: General Ledger
While the basic General Ledger contains an interchangeable outline for business owners to map their financial profiles, the Sample General Leger from ExcelTemplates.net provides a kind of comparative, sample-based general ledger for reference.
Using a sample general ledger can be especially useful for business owners that need a bit of guidance when it comes to their financial tracking. The spreadsheet contains room for various account names, as well as the type of tender used, and the initial and final balances.
Download: Sample General Leger
I.R.R., an acronym for internal rate of return, can be a somewhat confusing concept for novice business owners to grasp. In specific terms, IRR stands for “internal rate of return”, another world for a complex calculation used to arrive at the simple rate of return for a financial portfolio.
But with the IRR Financial Calculator from ExcelTemplates.net, this intricate calculation can be completed with a few clicks of a mouse. The interchangeable calculator maneuvers itself based on individual data input, allowing business owners to quickly, and easily, assess rates of return.
Download: IRR Financial Calculator
Profit and loss projections, another term for an income and expense statement, are invaluable tools for mapping future financial endeavors for a company.
With the Profit and Loss Projection template, business owners can navigate and isolate specific costs pertaining to their business, as well as map the rate at which those costs might expand over the following year, or decrease. These expenses range anywhere from payroll and salary, to specific advertising and marketing costs a company might accrue.
Download: Profit and Loss Projection
No matter how large or small, accounting is unquestionably a major component of any business or company. No matter the size, no company wants to spend money on managing their money. Luckily, there are several Excel accounting templates that you can get for free for your business. The Excel accounting templates can help you do everything from organize the money you take into the business, to adjust how much money is going out of the business and everything financial aspect in between. Company and business owners will love the fact that the Excel accounting templates available on this page are instantly downloadable at no charge to you.
Making the Most of the Excel Accounting Templates
So how can you or your company make the most of the accounting templates from Microsoft Excel that are available on this page? For starters, the template is extremely easy to use and understand. The template is broken down into three worksheets. The first sheet is labeled journal, the second is titled debit account and the third is titled credit account.
There are templates that you can use for payroll accounts that are great if you have a large number of employees. You simply enter the number of hours each person worked and how much the person makes an hour, and the amount for the pay is calculated. The Excel accounting templates are free and they can be adjusted based on how often you need to calculate accounts.
The template featured here on this page is just one of the various accounting templates and spreadsheets that are available on this site. They are just part of the massive collection of hundreds of helpful tools designed to make things a little easier for any business owner or employee.
In business just about the only report that really matters is the balance sheet. At the end of the day you need to be making money, and the only way to do that is to have a positive balance sheet. Much as you might like it to be other things, you have to get over this hurdle to get on to bigger and better things within your business. That is the simple truth of the matter.
Those who want a balance sheet report that they can rely on are going to be apt to use one that they are able to find from the excel program that is probably already on their computer.
There are many people who are interested in finding out what the potential financial impact of any particular event is. They want to know these things so that they can adjust for them and try to get to a point where they are able to predict these events.
Thus, the potential financial impact calculation for various events should be done on your excel program. If you do this well enough, then you are going to find that you are able to come up with answers to your questions about how much of an impact various things will have on your bottom line.