5/27/2023 0 Comments Excel debit credit running balanceWrite the date when the statement period starts and when it ends. This is the period covered by your statement. The purpose of filling out this section is that if you share your bank statement with someone, they will have access to and contact information. If you run a sole proprietorship business, you can replace the business name with your own if you like. Write your name, your business’ name, its address and phone number. You only need to fill out this information once. This is self-explanatory – you write your account’s number and name. Let’s go over them one by one: Account Number and Name You will find fields where you can enter the information typically contained in bank statements. It’s all up to you! What Does This Excel Template Include? Also, you might find it useful to create graphs and charts that visualize data. You can add a new sheet for every month or keep everything in one sheet. That way, functions are not affected and the total amounts will stay correct. Instead, it’s best to insert them in the middle of the table. We recommend not adding more rows after the last one. If you add more rows to the table, make sure that all functions are still set up properly. We have included a few formulas and functions to help you quickly calculate: From there, you can keep using your spreadsheet on Google Sheets to make it accessible to coworkers or upload it instead to your accounting system. Then record your transactions, or simply extract them from your bank statements. Start by filling in details about your business (account number, business name, etc.). How Does it Work?Īfter downloading our bank statement Excel template, you can start using it to record transactions and keep all the related data in one place, from dates to amounts and transaction descriptions. The data inside will immediately become accessible from your software provided it’s structured properly. Moreover, most accounting and financial software allow you to upload your financial documents in Excel format. While Excel has its limitations, it works great for something as simple as producing monthly statements. You can also find data with filters and functions. It allows you to create formulas and functions that calculate amounts for you. Why Use Excel for Your Template?Įxcel is a fantastic tool for keeping financial records and has many advantages overall. Quick note: if you receive bank statements by email regularly, you can use Mailparser, the companion software to Docparser that focuses on extracting data from emails. And instead of creating a template from scratch, you can use a pre-built one – more on that further below. Uploading an Excel document that already contains that data will be much faster and easier than entering it manually.įor all these reasons, you should have an Excel template. Likewise, let’s say you want to analyze your transaction data with your software, but the data is locked within a PDF document or an image file. Imagine you want to analyze data for a long period of time – like a year, but it is scattered across a dozen documents with different structures. The last two points are particularly important.
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