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Bookkeeping spreadsheet for a small business

If you're a sole proprietor, Etsy seller or side business, you probably don't need accounting software yet. You need two ledgers (money in, money out), a monthly profit and loss summary, and a habit of entering receipts weekly.

How to set it up

1. Enter your business details. On Settings, fill in the business name, tax year, set-aside %, mileage rate and payment terms.
2. Edit categories. Adjust the income and expense categories (COGS vs operating) to match your business.
3. Log weekly. Enter income and expenses in the ledgers once a week. Mark the receipt column so missing receipts get flagged.
4. Invoice. Use the Invoice tab to make a printable invoice and log it in the Invoice Tracker; overdue invoices are flagged.
5. Review monthly. Check the Monthly P&L and the Dashboard's tax set-aside number.

What to record

For each transaction: date, description, category, amount, payment method, and whether you have a receipt. Use categories that roughly match the tax form you file. US sole proprietors often mirror Schedule C lines. Check with a tax professional for your situation; a spreadsheet isn't tax advice.

Monthly P&L formula

=SUMIFS(Income!D:D, Income!C:C, $A5, Income!A:A, ">="&DATE(2027,B$3,1), Income!A:A, "<"&EDATE(DATE(2027,B$3,1),1))

That sums one category for one month. Copy it across 12 months and down every category, then subtract expenses from income for net profit. Our kit has this built in, plus an invoice generator, invoice tracker, mileage log and a quarterly tax set-aside estimate.

Free tool: Small-business break-even and profit calculator

FAQ

Is this a replacement for an accountant?

No. It's an organized record of your numbers. The tax set-aside is a rough estimate; ask a tax professional how much to set aside.

Does it handle sales tax?

The invoice generator adds a sales tax % you set. It doesn't file or calculate sales tax returns.