Sole trader bookkeeping spreadsheet excel is use by the sole proprietors who are the single owners of their business. They use this template to keep record of every transaction they made. Either it is on Credit basis or on cash. Sole traders are mostly having no access to a lot of capital.
Therefore, they are not in that condition to use expensive software for record or bookkeeping. Because bookkeeping software are very expensive and we need technical knowledge to use it in the best way. But this template spreadsheet is a massive solution for the sole owners to make their business records successfully in less time, & with no specific technical knowledge of software.
How Sole trader bookkeeping spreadsheet excel Benefits you?
- Record keeping id easy
- Easy to use
- Competent way to use it for record keeping
- Access from anywhere
- No manual work hassles
Bookkeeping Templates for Small Business
This templates helps us to keep all records about our daily day to day transaction and at the end make profit and loss statement for your business. You must have to put all daily transaction in the journal format of this template and as well as at the end you can compare your monthly performance of your business.
How to Use?
There are 10 steps to use this template for bookkeeping for the best:
- Sales Date
Firstly, you must enter a date on which the transaction is made either with customer, and supplier. You must enter that date in the row and column of Sales Date.
- Customer Name
Secondly, if the transaction is made with the customers you must write the Customer’s name there in the Name Column.
- Sales Invoice
Sales invoice or reference number if present that must be mention in this column.
- Receipt Record
Receipt record must be enter in this column as if it is cash transaction, bank cheque, debit or credit card transaction.
- Sales mileage
- Gross sales Value
Gross sales volume is total sales volume that is must be entered here in this column.
- Other Income
The income from other sources as price bonds, rental income, that is from any other source that also must be entered here.
- Sales value Not Received
The value of credit sales that are not received yet must be mentioned in this column. The total value of that sales you made must be entered.
- Number of Days Outstanding
The number of days that are left for the payments of the customers to whom we sell on credit basis must be mention.
- Total for the month
At the end the total for each column is calculate by the sheet automatically. As shown in the template sales mileage total, gross sales value total, income not receive and total number of days left for the payments.
Profit & Loss Statement for Sole Trade:
Profit and loss statement must be prepare to see the gain and loss. You can make it for the month, semiannually, and annually. This can be prepare when you enter data for the above sheet. You just have to enter data of your expenses and income, and cost of sales the net income after tax would be determine by the Sheet Automatically.
In addition, if you want some custom sole trader bookkeeping spreadsheet, than Contact Finance4help.com and ask anything about it.