Free Accounting Spreadsheet Templates for a Small Business

When you open your business, you need to set up your chart of accounts. It's the way you categorize your transactions to prepare your financial statements and tax returns.

Why do I need a chart of accounts?

When you spend money on expenses or generate income, you need to place the item somewhere in your bookkeeping file. If you don't take the time to track everything, then you won't have accurate figures for your profitability, accounts receivable, accounts payable and other aspects of your business that allow you to keep your doors open.

READ MORE: What Is a Chart of Accounts?

What's better — accounting software or a spreadsheet?

Using accounting software is your best choice because it can integrate with third-party apps that save you time on manual data entry. Web and mobile applications also have features unavailable in a standard bookkeeping template.

Where can I find a small business chart of accounts template?

We have a free printable accounting template you can use today — no need to keep searching or piecing it together.

 Free Chart of Accounts Accounting Spreadsheet Template


 Sign up for our mailing list | Some taxpayers are unaware of how their tax return works, so they make incorrect or untrue statements regarding their tax situation (i.e., having zero tax due).    Is It Possible To Pay Zero Taxes? | www.deductingtherightway.com  The essential lines on your tax return Total Tax is on Line 15 and represents how much tax the IRS requires you to pay on your tax return (regardless if you’ve remitted the money or not).    Total payments are on Line 18 and displays all the federal income taxes withheld on your behalf or remitted by you for the tax year.  Amount you owe is on Line 21. If you haven’t prepaid enough tax, then you’ll owe the difference between what you remitted on Line 18 and the Total tax on Line 15.    TIP: You can view these lines on page 2 of Form 1040.  The common misconception If you only focus on the Amount you owe line, it’s the wrong way to gauge your tax situation. You need to pay attention to Line 15 (total tax). Compare the figure to what you’ve paid in prior years to see how it’s changed.  You need to pay attention to Line 15 (total tax).  Other than an incremental increase in the tax rate, there shouldn’t be a dramatic shift unless you’ve experienced a new life event (e.g., marriage, divorce, a stock sale, business startup).  Claiming to pay zero taxes Do you have a friend who brags they don't pay tax?     When you’re talking with someone about their taxes, they could make the mistake of basing their discussion on the amount of money due when they file it (Line 21).   You also don’t know how their tax return differs from yours — caring for an elderly parent (additional tax deductions), sharing all critical details of their financial life with their accountant (missing information), or bragging in social situations (incorrect information).  TIP: Each taxpayer’s financial situation is different, so be careful not to assume that the person you’re talking with understands their tax return.       DISCLAIMER: Please consult with your accountant, attorney and financial advisor before implementing any information displayed on this website. DIY research does not replace the advice of a licensed professional who has thoroughly reviewed your file.
DISCLAIMER: Please consult with your accountant, attorney and financial advisor before implementing any information displayed on this website. DIY research does not replace the advice of a licensed professional who has thoroughly reviewed your file.