Key takeaways<\/h2>\n\n- Excel accounting templates help small businesses organize income, expenses, cash flow, and financial statements without starting from scratch<\/li>\n
- Common accounting templates include income statement templates, balance sheet templates, cash flow statement templates, managerial accounting templates, and cost accounting templates<\/li>\n
- Excel can work well for basic bookkeeping, but manual updates, version control, and formula errors can become harder to manage as teams grow<\/li>\n
- monday.com\u2019s Accounting Template helps teams organize accounting-related workflows with customizable boards, dashboards, automations, and integrations<\/li>\n
- monday.com\u2019s AI Work Platform can support finance-adjacent workflows by connecting accounting tasks, approvals, documentation, and reporting in one shared workspace<\/li>\n<\/ul>\n
What is an Excel accounting template?<\/h2>\n
Accounting is all about making sure you always have a clear view of your income, petty cash, cost management<\/a>, cash book, tax obligations, debts, paychecks, and everything else money-related you could possibly think of.<\/p>\nBut that can be pretty hard to keep track of, especially if you’re leading a small team and wearing many different hats at any given time. This is where an Excel accounting template can help.<\/p>\n
An accounting template is a pre-built accounting statement that you can download and customize to suit your business needs. These templates are typically pre-populated or have a range of labeled columns, and then you simply fill in the blanks with your own financial information.<\/p><\/blockquote>\n
There are a number of free accounting templates for Excel and Google Sheets you can download and import onto your desktop or web app.<\/p>\n
![\"Screenshot](\"https:\/\/monday.com\/blog\/wp-content\/uploads\/2022\/02\/Untitled-83.png\" "\\"Microsoft")
<\/p>\n
(Image source<\/a>)<\/p>\nWhy use the Excel accounting template?<\/h2>\n
Excel accounting templates make bookkeeping easier by giving you a clear structure to follow. If you\u2019re new at this, having a clearly labeled template that can show which values to place and where is a total lifesaver.<\/p>\n
For example, let\u2019s say you\u2019re a software engineer managing a new start-up. You might know a whole lot about building apps, but next to nothing about how to fill out an income statement. That\u2019s common, especially for founders and small teams managing finance tasks themselves.<\/p>\n
Having an Excel accounting template to fall back on gives you some peace of mind in knowing you\u2019re on the right track. A template will guide you in terms of all the fields and columns you have to include and what financial data you\u2019ve got to keep tabs on.<\/p>\n
If you\u2019re looking for a more flexible and dynamic accounting template with less manual labor involved, we\u2019ve got you covered. First, let\u2019s talk about the different types of accounting templates.<\/p>\n
What are some examples of Excel accounting templates?<\/h2>\n
Because spreadsheets are widely used in accounting, you can find a lot of Excel accounting templates and just about every Excel bookkeeping template you could ever want, depending on your needs.<\/p>\n
For example, there\u2019s a General Ledger Template for you to track any business expense<\/a>, a Statement of Account Template, Credit Card Tracker Template, invoice templates, and more. These templates can help you keep track of your finances<\/a> and ensure that your business is running smoothly.<\/p>\nLet\u2019s talk about the different types of accounting templates.<\/p>\n
Income statement templates<\/h3>\n
An income statement template is a pre-designed template to help you record and summarize all of your team\u2019s net income, net sales, and expenses during a given period of time.<\/p>\n
An income statement is also often referred to as a \u201cprofit and loss statement\u201d or \u201cstatement of revenue and expense.\u201d That means you might occasionally see an income statement template labeled as a profit and loss statement template<\/a> or a statement of revenue and expense template, but it all amounts to the same thing.<\/p>\n![\"Income](\"https:\/\/monday.com\/blog\/wp-content\/uploads\/2022\/02\/image7-1.png\")
<\/p>\n
(Image source<\/a>)<\/p>\nThere are a number of downloadable income statement templates you can use to record your income information in Excel spreadsheets<\/a>. They\u2019re normally pretty basic and include a number of pre-labeled rows and columns identifying common expenses and revenue sources that apply to a lot of different business types.<\/p>\nThe key benefit here is that these templates will serve as a great prompt in terms of all the expenses or income sources you might not have otherwise considered including in your statement.<\/p>\n
Balance sheet templates<\/h3>\n
A balance sheet template<\/a> is a pre-made accounting statement that looks at all of your company’s total assets and liabilities \u2014 as well as shareholder equity. Balance sheets are all about demonstrating the \u201cbook value\u201d of your company. To figure out your book value, you need to list all your company\u2019s assets, liabilities, and equity for a given reporting date. Balance sheet templates are useful because they include pre-loaded rows that spell out all the basic information you\u2019ll need to include in your accounting statement.<\/p>\n![\"Balance](\"https:\/\/monday.com\/blog\/wp-content\/uploads\/2022\/02\/image3-1.png\" "\\"Balance")
<\/p>\n
(Image source<\/a>)<\/p>\nThere are a number of pre-built balance sheet templates on Microsoft Office and other apps that include pre-configured formulas to find all your balance totals. This can save you valuable time because all you\u2019ve got to do is drag and drop your financial data \u2014 the template does all the hard work.<\/p>\n
Cash flow statement templates<\/h3>\n
Next, you\u2019ve got cash flow statement templates.<\/a> A cash flow statement gives you a breakdown of what your company\u2019s cash balances look like for a given period. There are loads of cash flow templates available on Excel and a number of external sites that you can download for free.<\/p>\n![\"Cash](\"https:\/\/monday.com\/blog\/wp-content\/uploads\/2022\/02\/image6-2.png\" "\\"Cash")
<\/p>\n
(Image source<\/a>)<\/p>\nCash flow statement templates are particularly useful for companies that are scaling up and need to show how sustainable their cash inflows are. For example, a clothing startup might use a cash flow statement template to quickly work out their cash balances over a 12-month period to show a lender that the startup can afford to take on a new business loan.<\/p>\n
Managerial accounting templates<\/h3>\n
Managerial accounting is similar to financial accounting. But instead of looking at various accounting dates, it focuses on monthly or quarterly reports.<\/p>\n
Managerial accounting statements enable you to analyze a company\u2019s income and overheads to make important decisions about how your operations are funded and run. There are a number of managerial accounting templates on Excel \u2014 including budget<\/a> templates and forecast templates.<\/p>\n![\"Screenshow](\"https:\/\/monday.com\/blog\/wp-content\/uploads\/2022\/02\/Untitled-84.png\" "\\"Managerial")
<\/p>\n
(Image source<\/a>)<\/p>\nWhy would you use a managerial accounting template? One of the key benefits is that these accounting templates tend to come with visualizations like graphs and tables that automatically change and update as you drop in your financial data.<\/span><\/a>\nThis makes it easy to share with stakeholders and externals to let them know how your business is doing, without losing hours of precious time building tables yourself.<\/p>\n
Cost accounting templates<\/h3>\n
Cost accounting templates are used to analyze spending and choose how your business prices its products or services. In other words, cost accounting can help businesses understand costs and set pricing more strategically. You\u2019ll encounter quite a few cost accounting templates on Excel and other third-party sites, although these will often be labeled as \u201ccost sheets\u201d or \u201ccosting templates.\u201d<\/p>\n
A huge benefit of using cost accounting templates is that the cost data you\u2019re inputting is often dependent on other variables. That means your data in one cell may go up or down based on the number you place into a different column \u2014 which can get complicated fast. Costing templates<\/a> come with all those formulas pre-loaded so that you can create an accounting statement without creating a headache.<\/p>\nHow monday.com\u2019s AI Work Platform supports accounting workflows<\/h2>\n
Excel templates can help organize financial data, but accounting-related work often involves more than numbers in a spreadsheet. Teams may also need to review expenses, assign approvals, track recurring finance tasks, prepare reports, and keep stakeholders aligned.<\/p>\n
monday.com\u2019s AI Work Platform helps teams manage those workflows in one shared workspace. With customizable boards, dashboards, automations, integrations, and AI-powered capabilities, teams can connect accounting-related tasks to the people, deadlines, and updates that keep work moving.<\/p>\n
The goal is not to replace dedicated accounting software, but to make the work around accounting easier to manage. monday.com can help teams coordinate finance tasks, automate reminders, centralize updates, and build dashboards that make accounting-related workflows easier to follow.<\/p>\n
![\"\"](\"https:\/\/monday.com\/blog\/wp-content\/uploads\/2022\/02\/excel-accounting-board-1024x560.png\")
<\/p>\n
Our dynamic downloadable template comes with a range of pre-built financial reports \u2014 including all the basic accounting statements we\u2019ve already talked about. That means rather than worrying about creating loads of new spreadsheets and organizing them all, you can make life simpler with one master template that has everything you need in one place.<\/p>\n
Each column is fully customizable, and all you\u2019ve got to do is drag and drop your company\u2019s financials to create fast and reliable financial statements<\/a> to support your accounting function. All of the formulas you\u2019ll ever need are already integrated into the template, which means you can knock out all your accounting statements in record time without breaking a sweat.<\/p>\n![\"\"](\"https:\/\/monday.com\/blog\/wp-content\/uploads\/2022\/02\/excel-accounting-gantt-1024x560.png\")
<\/p>\n
You can download our free Excel accounting template here. But if you want to remove all of the manual processes involved in accounting with Excel, we\u2019ve got an even better solution available in the form of our fully-loaded Work OS Accounting Template.<\/p>\n
Why monday.com\u2019s built-in Accounting Template is the only template you\u2019ll ever need<\/h2>\n
It\u2019s totally possible to run a company\u2019s accounting function offline using Excel. Many companies do it. But if you want to be able to handle all the core accounting functions we\u2019ve covered without working overtime, you may want to rethink Excel and check out monday.com\u2019s Accounting Template.<\/p>\n
With our easy-to-use Accounting Template, you can consolidate all the accounting information<\/a> and workflows in your business to manage everything on a single dashboard. This empowers you with a bird\u2019s-eye view of all your finances. You\u2019ll be able to automate financial reports, keep track of spending, set up spending alerts, and you\u2019ll always know where you are in relation to your budget and income streams. This makes performing financial audits a breeze.<\/p>\nAnd if you really love a particular Excel accounting template, you can even use it alongside monday.com\u2019s more dynamic template. With the help of our set of handy integrations, you can easily import Excel workbooks onto your monday.com dashboard and use that data to contribute to your wider works on monday.com.<\/p>\n
Not only will that save you valuable time, but it also keeps you organized. We\u2019re pretty good at knowing which columns go where \u2014 which means that we\u2019ll automatically turn your imported Excel workbooks into a clearly labeled and fully customizable monday.com board in just a few clicks.<\/p>\n
You can then tag and move items, assign tasks to team members based on your imported accounting statements, and change your dashboard view to give you different perspectives on the financial data you\u2019ve imported.<\/p>\n
End result: your accounting management will go from slow and reactive to super proactive in a matter of minutes.<\/p>\n
Get the template<\/a><\/p>\nAI-powered capabilities can also support accounting-related workflows by helping teams summarize updates, organize information, categorize requests, and surface items that may need attention. For example, teams can use monday sidekick, monday agents, monday vibe, AI columns, and the AI workflow builder to reduce manual work around approvals, reporting, and recurring finance tasks while keeping people in control of final decisions.<\/p>\n
Even more accounting templates from monday.com<\/h2>\nFinancial Statements Template<\/h3>\n
If you\u2019re focusing less on overall accounting and more on your financial statements, our Financial Statements Template will fit the bill.<\/p>\n
You can use this template to manage capital investments, track debts and repayment schedules, and manage corporate audits \u2014 all while setting up rules and automations that will keep a running score of your core financial statements like your balance, income, and cash flow.<\/p>\n
For example, you could set up an automation that automatically alerts a certain member of your team every time a capital investment posts a loss \u2014 or create an automated recurring task for your finance team to perform a monthly expenses audit.<\/p>\n
Expense Tracking Template<\/h3>\n
What is an Excel accounting template?<\/h2>\n
Accounting is all about making sure you always have a clear view of your income, petty cash, cost management<\/a>, cash book, tax obligations, debts, paychecks, and everything else money-related you could possibly think of.<\/p>\n But that can be pretty hard to keep track of, especially if you’re leading a small team and wearing many different hats at any given time. This is where an Excel accounting template can help.<\/p>\n An accounting template is a pre-built accounting statement that you can download and customize to suit your business needs. These templates are typically pre-populated or have a range of labeled columns, and then you simply fill in the blanks with your own financial information.<\/p><\/blockquote>\n There are a number of free accounting templates for Excel and Google Sheets you can download and import onto your desktop or web app.<\/p>\n (Image source<\/a>)<\/p>\n Excel accounting templates make bookkeeping easier by giving you a clear structure to follow. If you\u2019re new at this, having a clearly labeled template that can show which values to place and where is a total lifesaver.<\/p>\n For example, let\u2019s say you\u2019re a software engineer managing a new start-up. You might know a whole lot about building apps, but next to nothing about how to fill out an income statement. That\u2019s common, especially for founders and small teams managing finance tasks themselves.<\/p>\n Having an Excel accounting template to fall back on gives you some peace of mind in knowing you\u2019re on the right track. A template will guide you in terms of all the fields and columns you have to include and what financial data you\u2019ve got to keep tabs on.<\/p>\n If you\u2019re looking for a more flexible and dynamic accounting template with less manual labor involved, we\u2019ve got you covered. First, let\u2019s talk about the different types of accounting templates.<\/p>\n Because spreadsheets are widely used in accounting, you can find a lot of Excel accounting templates and just about every Excel bookkeeping template you could ever want, depending on your needs.<\/p>\n For example, there\u2019s a General Ledger Template for you to track any business expense<\/a>, a Statement of Account Template, Credit Card Tracker Template, invoice templates, and more. These templates can help you keep track of your finances<\/a> and ensure that your business is running smoothly.<\/p>\n Let\u2019s talk about the different types of accounting templates.<\/p>\n An income statement template is a pre-designed template to help you record and summarize all of your team\u2019s net income, net sales, and expenses during a given period of time.<\/p>\n An income statement is also often referred to as a \u201cprofit and loss statement\u201d or \u201cstatement of revenue and expense.\u201d That means you might occasionally see an income statement template labeled as a profit and loss statement template<\/a> or a statement of revenue and expense template, but it all amounts to the same thing.<\/p>\n (Image source<\/a>)<\/p>\n There are a number of downloadable income statement templates you can use to record your income information in Excel spreadsheets<\/a>. They\u2019re normally pretty basic and include a number of pre-labeled rows and columns identifying common expenses and revenue sources that apply to a lot of different business types.<\/p>\n The key benefit here is that these templates will serve as a great prompt in terms of all the expenses or income sources you might not have otherwise considered including in your statement.<\/p>\n A balance sheet template<\/a> is a pre-made accounting statement that looks at all of your company’s total assets and liabilities \u2014 as well as shareholder equity. Balance sheets are all about demonstrating the \u201cbook value\u201d of your company. To figure out your book value, you need to list all your company\u2019s assets, liabilities, and equity for a given reporting date. Balance sheet templates are useful because they include pre-loaded rows that spell out all the basic information you\u2019ll need to include in your accounting statement.<\/p>\n (Image source<\/a>)<\/p>\n There are a number of pre-built balance sheet templates on Microsoft Office and other apps that include pre-configured formulas to find all your balance totals. This can save you valuable time because all you\u2019ve got to do is drag and drop your financial data \u2014 the template does all the hard work.<\/p>\n Next, you\u2019ve got cash flow statement templates.<\/a> A cash flow statement gives you a breakdown of what your company\u2019s cash balances look like for a given period. There are loads of cash flow templates available on Excel and a number of external sites that you can download for free.<\/p>\n (Image source<\/a>)<\/p>\n Cash flow statement templates are particularly useful for companies that are scaling up and need to show how sustainable their cash inflows are. For example, a clothing startup might use a cash flow statement template to quickly work out their cash balances over a 12-month period to show a lender that the startup can afford to take on a new business loan.<\/p>\n Managerial accounting is similar to financial accounting. But instead of looking at various accounting dates, it focuses on monthly or quarterly reports.<\/p>\n Managerial accounting statements enable you to analyze a company\u2019s income and overheads to make important decisions about how your operations are funded and run. There are a number of managerial accounting templates on Excel \u2014 including budget<\/a> templates and forecast templates.<\/p>\n (Image source<\/a>)<\/p>\nWhy would you use a managerial accounting template? One of the key benefits is that these accounting templates tend to come with visualizations like graphs and tables that automatically change and update as you drop in your financial data.<\/span><\/a>\n This makes it easy to share with stakeholders and externals to let them know how your business is doing, without losing hours of precious time building tables yourself.<\/p>\n Cost accounting templates are used to analyze spending and choose how your business prices its products or services. In other words, cost accounting can help businesses understand costs and set pricing more strategically. You\u2019ll encounter quite a few cost accounting templates on Excel and other third-party sites, although these will often be labeled as \u201ccost sheets\u201d or \u201ccosting templates.\u201d<\/p>\n A huge benefit of using cost accounting templates is that the cost data you\u2019re inputting is often dependent on other variables. That means your data in one cell may go up or down based on the number you place into a different column \u2014 which can get complicated fast. Costing templates<\/a> come with all those formulas pre-loaded so that you can create an accounting statement without creating a headache.<\/p>\n Excel templates can help organize financial data, but accounting-related work often involves more than numbers in a spreadsheet. Teams may also need to review expenses, assign approvals, track recurring finance tasks, prepare reports, and keep stakeholders aligned.<\/p>\n monday.com\u2019s AI Work Platform helps teams manage those workflows in one shared workspace. With customizable boards, dashboards, automations, integrations, and AI-powered capabilities, teams can connect accounting-related tasks to the people, deadlines, and updates that keep work moving.<\/p>\n The goal is not to replace dedicated accounting software, but to make the work around accounting easier to manage. monday.com can help teams coordinate finance tasks, automate reminders, centralize updates, and build dashboards that make accounting-related workflows easier to follow.<\/p>\n Our dynamic downloadable template comes with a range of pre-built financial reports \u2014 including all the basic accounting statements we\u2019ve already talked about. That means rather than worrying about creating loads of new spreadsheets and organizing them all, you can make life simpler with one master template that has everything you need in one place.<\/p>\n Each column is fully customizable, and all you\u2019ve got to do is drag and drop your company\u2019s financials to create fast and reliable financial statements<\/a> to support your accounting function. All of the formulas you\u2019ll ever need are already integrated into the template, which means you can knock out all your accounting statements in record time without breaking a sweat.<\/p>\n You can download our free Excel accounting template here. But if you want to remove all of the manual processes involved in accounting with Excel, we\u2019ve got an even better solution available in the form of our fully-loaded Work OS Accounting Template.<\/p>\n It\u2019s totally possible to run a company\u2019s accounting function offline using Excel. Many companies do it. But if you want to be able to handle all the core accounting functions we\u2019ve covered without working overtime, you may want to rethink Excel and check out monday.com\u2019s Accounting Template.<\/p>\n With our easy-to-use Accounting Template, you can consolidate all the accounting information<\/a> and workflows in your business to manage everything on a single dashboard. This empowers you with a bird\u2019s-eye view of all your finances. You\u2019ll be able to automate financial reports, keep track of spending, set up spending alerts, and you\u2019ll always know where you are in relation to your budget and income streams. This makes performing financial audits a breeze.<\/p>\n And if you really love a particular Excel accounting template, you can even use it alongside monday.com\u2019s more dynamic template. With the help of our set of handy integrations, you can easily import Excel workbooks onto your monday.com dashboard and use that data to contribute to your wider works on monday.com.<\/p>\n Not only will that save you valuable time, but it also keeps you organized. We\u2019re pretty good at knowing which columns go where \u2014 which means that we\u2019ll automatically turn your imported Excel workbooks into a clearly labeled and fully customizable monday.com board in just a few clicks.<\/p>\n You can then tag and move items, assign tasks to team members based on your imported accounting statements, and change your dashboard view to give you different perspectives on the financial data you\u2019ve imported.<\/p>\n End result: your accounting management will go from slow and reactive to super proactive in a matter of minutes.<\/p>\n Get the template<\/a><\/p>\n AI-powered capabilities can also support accounting-related workflows by helping teams summarize updates, organize information, categorize requests, and surface items that may need attention. For example, teams can use monday sidekick, monday agents, monday vibe, AI columns, and the AI workflow builder to reduce manual work around approvals, reporting, and recurring finance tasks while keeping people in control of final decisions.<\/p>\n If you\u2019re focusing less on overall accounting and more on your financial statements, our Financial Statements Template will fit the bill.<\/p>\n You can use this template to manage capital investments, track debts and repayment schedules, and manage corporate audits \u2014 all while setting up rules and automations that will keep a running score of your core financial statements like your balance, income, and cash flow.<\/p>\n For example, you could set up an automation that automatically alerts a certain member of your team every time a capital investment posts a loss \u2014 or create an automated recurring task for your finance team to perform a monthly expenses audit.<\/p>\n<\/p>\nWhy use the Excel accounting template?<\/h2>\n
What are some examples of Excel accounting templates?<\/h2>\n
Income statement templates<\/h3>\n
<\/p>\nBalance sheet templates<\/h3>\n
<\/p>\nCash flow statement templates<\/h3>\n
<\/p>\nManagerial accounting templates<\/h3>\n
<\/p>\nCost accounting templates<\/h3>\n
How monday.com\u2019s AI Work Platform supports accounting workflows<\/h2>\n
<\/p>\n<\/p>\nWhy monday.com\u2019s built-in Accounting Template is the only template you\u2019ll ever need<\/h2>\n
Even more accounting templates from monday.com<\/h2>\n
Financial Statements Template<\/h3>\n
Expense Tracking Template<\/h3>\n