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How to Organize Financial Information Without QuickBooks

Jul 30, 2021 1:00:00 PM Kathy Dise Small Business, Start-ups, For Accountants

financial informationIf you have a very small company with only a couple of checking or credit card accounts (designated solely for your business) and don’t want to pay for QuickBooks, how can you keep track of your financial records?

You can use an excel spreadsheet to record your sales and expenses.  

Step One

Decide what categories are important to your business.  Here is an example:

*Revenue (Income)
Needs Category
Salaries (Expense)
Materials (Expense)
Marketing (Expense)
Computer and Internet (Expense)
Professional Fees (Expense)
Office Supplies (Expense)
Travel (Expense)
Meals and Entertainment (Expense)
Training (Expense)
Insurance (Expense)
Utilities (Expense)
Dues and Subscriptions (Expense)
Rent (Expense)
Bank charges (Expense)
Telephone (Expense)

Step Two

Start entering all the transactions from your bank and credit card statements into an Excel Sheet.  An alternative suggestion is that you could get an electronic listing of your transactions from your bank in a CSV or Excel format.  Then all you need to do is categorize each transaction. The categories are in the Account column in the following example: categorizing_transactions

You don’t want to give up the ability to see what your profit is so we have put together a helpful spreadsheet that will convert your bank information into a Profit & Loss Statement. With our spreadsheet, your transactions above are converted automatically into the P&L below.Profit_and_Loss_example

To get started, click below to get a preformatted spreadsheet that will allow you to prepare a Profit and Loss like we did.

Financial Statement Template


Kathy Dise

Written by Kathy Dise

Kathy has over 30 years experience helping small businesses succeed. As a commercial lender, commercialization expert and now as a QuickBooks diamond level advisor, Kathy understands the challenges small business owners face. Her experience helps business owners quickly accomplish their financial goals. As the owner of BudgetEase, Kathy works with clients to develop a plan to efficiently process 1,000s of small transactions so owners can make informed decisions. She lives in Shaker Heights, OH with her husband Ralph and enjoys golf, curling and walking in Cleveland’s fabulous Metro Parks.