Description
Easy Bookkeeping Tracker Manual
This guide is here to help you manage your finances simply and effectively. Easy Bookkeeping Tracker is designed to track all your income and expenses while running your small business. All the calculations are done for you. Simply enter your business Income and Expenses.
Why Use Easy Bookkeeping Tracker?
- Stay Organized: Keep all your financial information in one place.
- Save Time: Quickly track and manage your income and expenses.
- Prepare for Taxes: Make tax time easy with well-organized records.
Benefits of Easy Bookkeeping Tracker 📊
- 📚 Easy to Use: Simplifies managing your finances.
- 📁 Organized Records: Keeps all your income and expenses in one place.
- ⏱️ Saves Time: Automates calculations and reporting.
- ✅ Accurate Tracking: Minimizes errors with precise record-keeping.
- 📈 Financial Insights: Offers detailed reports to help you understand your finances.
- 📱 Mobile Access: Manage your bookkeeping on the go with mobile compatibility.
Freebies 🤩
- ✅ Annual 50-30-20 Budget Tracker
- ✅ Holiday Gift Tracker
- ✅ Monthly Budget Tracker
- ✅ Bill Tracker
- ✅ Net Worth Tracker
Steps on how to use the Easy Bookkeeping Tracker:
Step 1: Setup
- – Go to the ‘Start’ tab to set up your bookkeeping template.
- – Changes made here will auto-populate throughout the spreadsheet.
Step 1.1: Starting month & year (required)
- – The Overview tabs and charts built into this template are designed to include data for 12 months.
- – You must choose the starting month and year to ensure that the reports show the correct 12-month period.
- – To select the starting month & year, double-click cell D3 in the ‘Start’ tab.
- – Select the year and month from the pop-up calendar (select the day you’re starting from, 14 July 2022, for example). You can also manually enter the starting date in cell D3 (use the format MM/DD/YYYY).
- – For example, 07/30/2024.
Step 1.2: Categories (required)
- – The Annual and Monthly Overview tabs group your income and expenses by category.
- – You can add up to 30 income streams and up to 30 expense categories.
- – Enter your income streams or income channels in the ‘Income Streams’ table (cells B7 to B36).
- – Then, enter your expense categories in the ‘Expense Categories’ table (cells D7 to D36).
Step 1.3: Profit goals (optional)
- – Monthly profit goals will be shown in the Monthly Overview tab.
- – The total 12-month profit goal will be shown in the Annual Overview tab.
- – This could be helpful if you’d like to compare your profit goals to the actual profit.
- – Enter your monthly profit goals in the ‘Profit Goals’ table (cells G7 to G18).
- – Note: The annual profit goal is calculated automatically. Please do not type over this cell.
Step 2: Income tab
- – Now you can start entering your transactions into the Income tab.
- – All the monthly and annual totals will be calculated for you and can be found in the Monthly and Annual Overview tabs.
- – Required columns are:
– Date: double-click on cell to select a transaction date from the pop up calendar. Or, enter the date manually using the format: MM/DD/YYYY.
– Category: Based on the categories that you set up in the ‘Start’ tab, you have to select one of the income streams from the dropdown menu.
– Total Income: Enter the total transaction amount (including sale tax) into this column.
- Note: Charts and tables in the Overview tabs won’t update if at least one of the 3 required columns is not filled in.
Required columns for each transaction are highlighted in red
Optional columns are:
– ID: You can use it for order numbers or to give a reference to a receipt.
– Product/Service: Here you can add a description of a product or service that genereted the income.
– Sale Tax: Enter the sales tax amounts here. Simply leave this column blank if you do not collect any tax.
– Net Income: This column calculates automatically as Total Income – Sale Tax = Net Income.
*Note: Please do not type over this column. It automatically updates when you fill in the Total income and Sale Tax (if applicable).
The Net Income amounts will appear in the Annual & Monthly Overview tabs.
– Notes: You can add some notes for your reference here.
Step 3: Expenses tab
- – The Expenses tab works the same way as the Income tab.
- – Required columns for each transaction are:
– Date: double-click on the cell to select a transaction date from the pop-up calendar. Or, enter the date manually using the format: MM/DD/YYYY.
– Category: Based on the categories you set up in the ‘Start’ tab, you must select one expense category from the dropdown menu.
– Total Expense: Enter the total transaction amount (including tax) into this column.
- – Note: Charts and tables in the Overview tabs won’t update if at least one of the 3 required columns is not filled in.
Required columns for each transaction are highlighted in red
Optional columns are:
– ID: You can use it to reference a receipt/invoice.
– Item/product: Here, you can add a transaction description.
– Tax: Enter the tax amount you have paid (if applicable). If you live in a country where the sales tax of items purchased for business purposes is returned to you.
– Net Expense: This column calculates automatically as Total Expense – Tax = Net Expense.
*Note: Please do not type over this column. It automatically updates when you fill in the Total Expense and Tax (if applicable).
The Net Expense amounts will appear in the Annual & Monthly Overview tabs.
– Notes: You can add some notes for your reference here.
Step 4: Annual Overview tab
- – The Annual Overview tab is completely automated, it will take all the data you filled in the Start, Income, and Expenses tabs. Note: Please do not type in this tab.
- – In the Annual Overview tab, you’ll find the following information:
– Total net income by month & by category
– Total net expenses by month & by category
– Net profit by month
– Net profit in % by month
– Year-to-date net profit
– Annual profit goal
– Actual total profit
– Annual profit margin (%)
Step 5: Monthly Overview tab
- – The Monthly Overview tab is completely automated, it will take all the data you filled in the Start, Income, and Expenses tabs. Note: Please do not type in this tab.
- – To select the month, click the small arrow on the right side of cell B8.
- – Then select one of the months from the dropdown (they’ll update depending on the year & month chosen in the ‘Start’ tab).
- – Here you’ll find the following information for the month that is chosen:
– Net income by category
– Sales tax by category
– Total income by category
– Net expenses by category
– Tax paid by category
– Total expenses by category
– Profit goal
– Actual net profit
– Actual net profit in %
Step 6: Sales Tax tab
- – The Sales Tax tab is completely automated, it will take all the tax amounts you filled in the Income and Expenses tabs. Note: Please do not type in this tab.
- – Here you can see how much sales tax you have collected each month and the total amount for 12 months.
- – If you live in a country where the sales tax of items purchased for business purposes is returned to you, you will also be able to see the monthly sales tax paid here.
- – Disclaimer: this bookkeeping spreadsheet is not set up for a specific country. It is set up in a way that no matter what country you are from. You can track your income & expenses and your sales tax.
- – It is important to check with an accountant or financial advisor on which revenue streams you should collect sales tax and which expenses you could possibly get sales tax returned to you.
Step 7: Protected cells
- – Some of the cells have been protected in this spreadsheet.
- – This is to ensure that the formulas that make the overview tabs work correctly cannot be accidentally deleted or overwritten.
- – If you accidentally type over the protected cell, you’ll see a warning. Simply click ‘Cancel’.
