Are you a self-employed business owner looking to complete your own bookkeeping? Your financial details must be accurate as you will need to submit a self-assessment tax return to HMRC each year. If you are not keeping up with your accounts regularly, you may need to seek the services of a custodian or accountant. However, if you feel safe, you can complete your return yourself. In this blog post, we will discuss the free self-employed bookkeeping spreadsheet.
Separate Bank Account
When you are self-employed, it is important to have a separate business bank account for your business. It will help you keep track of your expenses and earnings, making it easier to file your taxes. A separate bank account for your business will also make it easier to get a loan or credit if you need it. You don't have to have a separate business bank account, but it's much easier to keep track of your finances if you do.
Excel spreadsheets
Excel Spreadsheets or an equivalent free spreadsheet package gives you the flexibility to design your spreadsheets and get the information you need. There are many free templates available online. Business Accounting Basics has developed many templates: including Profit and Loss, Balance Sheet, Cash Book, Expenses, Creditors, Debtors, Budgets, and Invoices.
Self Employed Bookkeeping Spreadsheet
Cash book template
Record debit and credit transactions in this two column cash book template to monitor your cash balance. Enter the date, description, and amount of each transaction, and the template will calculate a subtotal and total cash balance.
Balance sheet template
Use this balance sheet template to report your company's assets, liabilities, and equity. The template calculates common financial ratios, such as working capital and debt-to-equity ratio. Edit the example line items to list all of your current and long-term assets and liabilities, and view a subtotal for each section and column.
Trial balance worksheet
This trial balance compares the opening and closing balances of each of your financial accounts based on debit and credit transactions over a given period. The template also calculates the total balance of all accounts and the total variance.
Business expense template
Track business expenses with this easy spreadsheet template. Columns include Payment Date, Method, Description, and Amount. If you're self-employed, factor in home office expenses and other deductibles to help save time during tax season. The template maintains a current subtotal of costs, adjusting the total with each new entry.
Billing invoice template
Save time on invoices with this basic invoice template. Personalize with your logo and business details, and enter the invoice number, date, customer identification number, and payment terms for each invoice. Complete the itemized list of payments due and adjust the tax percentage to calculate the total amount due.
Invoice tracking template
Keep track of all your bills with this easy spreadsheet. List each invoice by ID number, date, customer name, description, and amount. Add the payment date when you receive the payment. The template provides the current total each time you submit a new invoice and calculates the total amount invoiced so far.
Statement of Account template
This statement template shows all the financial transactions that have taken place between your company and a customer during a certain period of time. The template provides a summary of the account, including the customer's previous balance, credits, current charges, and balance due date.
Profit and loss statement template
For business owners, knowing whether or not a business is making a profit is essential to growing the business. So the way to do this is to create a profit and loss statement, which can be used to generate your monthly financial report. The profit and loss statement shows your income/income and expenses and tells you how profitable your business has been during a specific period. It also breaks down your income and expenses, so you know exactly how much you earn and how you spend.
Income statement template
Wondering what the difference is between an income statement and a profit and loss statement? Is the same! The income statement template provides valuable information about your business operations. Tracks your monthly income and expenses and provides a summary of your net income (or net loss). The main goal of your business is to make a profit and make sure it is growing.
Before you go, I hope that the above article related to free self-employed bookkeeping spreadsheet will be helpful and informational for you.
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