Your accountant just asked you for a profit and loss statement from last year, and suddenly you’re sweating bullets. You’re scrambling through old emails, opening a dozen tabs, and wondering where you even saved that file—or if you ever created it. 

Is there a bookkeeping template that could help me?

The clock’s ticking, tax season looms, and the thought of putting together a year’s worth of financials is giving you heart palpitations. Bookkeeping isn’t why you started your business, but it’s definitely what’s keeping you up right now. 

Don’t worry—there’s a way out! Small business bookkeeping templates can be life—well, business—savers! 

What is a Bookkeeping Template?

A bookkeeping template is a pre-made framework that makes it easy to track, organize, and visualize the daily transactions of your business. Templates come with predefined columns, formulas, and features so that you can just plug and chug.

Templates allow you to keep track of the financial health of your business without having to reinvent the wheel—and Google a bunch of complicated Excel formulas—so that you can be stress-free and save valuable time. 

What Bookkeeping Templates Does a Small Business Need?

small business bookkeeping

There are a lot of bookkeeping templates out there—which is great news because it pretty much guarantees you can find whatever you might be looking for. A few common templates small businesses use are:

  • Income Statement Templates
  • Accounts Receivable Templates
  • Accounts Payable Templates
  • Business Expense Templates
  • Billing Invoice Templates
  • Inventory Tracking Templates
  • Payroll Templates
  • Cash Flow Forecast Templates
  • Expense Report Templates
  • Budgeting Templates
  • Tax Preparation Templates
  • Year-End Financial Statement Templates

What Makes a Great Bookkeeping Template?

In order to make sure you get the most out of your download, make sure the templates you are snagging include the following:

Intuitive Design

You’re busy enough without having to learn a way-too-complicated Excel spreadsheet. The template should be easy to read, navigate, and customize, without feeling like you need to master quantum theory to get it.

Easily Customizable

It’s important to have the flexibility of changing a template to better match your business needs. Look for templates that allow you to make a copy, modify rows, and columns, and even adjust formulas so you can get the most out of the template.

User Instructions/Resources

An excellent template will have a set of instructions on how to best use the template. Look for templates that include a short tutorial, FAQ section, or even a quick instructions tab to help you learn the ropes of your new investment.

7 Small Business Bookkeeping Templates

bookkeeping templates for small businesses

We’ve rounded up 7 useful small business bookkeeping templates to help you stay on top of your financial health without losing your mind. 

#1: Cash Flow Forecast Template

What it’s good for: With this template you’ll be able to project your business’s future cash flow, so you can see exactly when the money’s coming in and going out. It’s perfect for planning ahead and avoiding cash crunches.

Why you need it: Cash is the lifeblood of any business. Without a clear picture of how much money you have on hand—or how much you’ll need—it’s easy to get blindsided by unexpected expenses. With this template, you can stay ahead of financial trouble and focus on growth instead of stress.

#2: Annual Business Budget

What it’s good for: Get a detailed plan for your business’s finances over the course of the year by using this template. By laying out expected revenues, expenses, and profit margins, you can better allocate resources and plan for the future.

Why you need it: Running a small business without a budget is like driving without a map—you might get where you’re going, but it’ll be a lot harder. A solid annual budget helps you make smarter spending decisions and reduce unnecessary costs so you stay on the road to success.

#3: Income Statement Template 

What it’s good for: This template breaks down your business’s revenue and expenses over a specific period, giving you a clear view of how profitable (or not) you are. It’s essential for tracking financial performance and making informed decisions.

Why you need it: As a small business owner, understanding your income is crucial. The income statement reveals the true health of your business by showing whether you’re making money or losing it. Without it, you’re guessing—and guessing doesn’t pay the bills.

#4: Billing Invoice Template

What it’s good for: This template is your go-to for sending professional, detailed invoices to clients. It helps you streamline your billing process so that you get paid promptly for your hard work.

Why you need it: Invoices are a reflection of your professionalism. A clear, well-organized invoice shows clients you mean business, and it helps eliminate confusion, reduce late payments, and keep your cash flow steady.

#5: Balance Sheet Template

What it’s good for: A balance sheet template shows the financial position of your business at any given time by summarizing your assets, liabilities, and equity. It’s ideal for getting a snapshot of what your business owns versus what it owes.

Why you need it: Every small business owner should know their business’s net worth. A balance sheet gives you a complete picture of your financial health, so you can make strategic decisions, attract investors, and stay on top of your debts.

#6: Cash Book Template

What it’s good for: This template is your daily tracker for recording all cash transactions. It helps you monitor cash inflows and outflows, ensuring that every dollar is accounted for.

Why a small business owner needs it: Cash flow management is key to business survival, and a cash book is your front-line defense. Now you can easily spot inconsistencies, track spending, and avoid those dreaded surprises when you check your bank account.

#7: Profit and Loss Statement

What it’s good for: This template provides a breakdown of your business’s profits and losses over a period of time. It helps you understand how well your business is performing financially and identify areas for improvement.

Why you need it: No business owner can afford to be in the dark about their profitability. A profit and loss statement shows you where your money is coming from and where it’s going, helping you make smart, data-driven decisions that can boost your bottom line.

Small Business Bookkeeping Templates: Frequently Asked Questions

Does Excel have an accounting template?

Yes, Excel and Google Sheets offer a variety of built-in accounting templates, including balance sheets, profit and loss statements, and cash flow trackers. These templates are customizable and help small business owners manage finances, track expenses, and generate reports efficiently.

How do you do bookkeeping for a small business?

To do bookkeeping for a small business, you’ll need to track all financial transactions, categorize expenses, and reconcile your accounts. This involves recording income, expenses, and assets, balancing the books regularly, and preparing financial statements like income statements and balance sheets.

Do accountants use Excel?

Yes, accountants often use Excel for tasks like data entry, financial analysis, and creating financial statements. Its powerful functions and flexibility make it an essential tool for organizing financial data, even when more advanced accounting software is used.

How much does a bookkeeper cost for a small business? 

The cost of a bookkeeper for a small business can range from $300 to $2,000 per month, depending on the complexity of your financials and the level of service you need. Freelancers may charge hourly rates between $30 and $70, while bookkeeping firms may offer packages.

What bookkeeping software should I use?

The best bookkeeping software for small businesses depends on your needs—and we recommend hiring a small business bookkeeper to meet those needs – but popular software options include QuickBooks, Xero, and FreshBooks. These platforms offer features like expense tracking, invoicing, and financial reporting, making them ideal for small business owners.

best bookkeeping for small businesses

Get Your Time Back: Hire a Small Business Bookkeeper 

If you’re staring at a template and your smartwatch is telling you, ‘Great job on your workout’ it’s time to hand over the stress. Let Bookkeeping Match Up take the headache out of managing your finances. 

We’ll connect you with a top-notch bookkeeper who’ll handle the numbers so you can get back to doing what you love—running your business. Don’t sweat the small stuff—we’ve got your back! 

Ready to find your perfect bookkeeping match? Book a free consultation today!

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