Free template
Free income and expense tracker for small business
One list of what came in and what went out. Pick the type and category, and the monthly and category totals fill in.
What is inside
- Transactions tab Date, type, category, description and amount, with dropdowns for type and category.
- Monthly tab Income, expenses and net for each month of the year you choose.
- By category tab Yearly totals for each category, for income and for expenses.
- Categories tab Editable list. Add your own categories at the bottom.
How to use it
- Delete the four example rows.
- Add each transaction as it happens. Enter amounts as positive numbers and pick Income or Expense.
- Set the year on the Monthly tab.
- At month end, compare the totals with your bank statements, and share the file with your CPA at year end.
Using it in Google Sheets
- Open Google Sheets and choose File, then Import, then Upload, and pick the downloaded file.
- Choose "Replace spreadsheet" or "Insert new sheet(s)".
- Check the formulas and the dropdown lists after the import. Most carry over, but Google Sheets handles a few functions and formats differently.
Things to watch
- Record when it happens. Weekly entry takes minutes. A year of memory takes days.
- Keep business and personal apart. Use a separate account and card for the business so every row belongs here.
- Categories are general. They are groupings, not tax form lines. Your CPA decides how each item is reported.
- It is a tracker, not bookkeeping software. When invoices, bills and payroll grow, move to accounting software and keep this for a cross-check.
Questions
Is this the same as a profit and loss statement?
It gives you the same basic picture, income minus expenses by month, from a simple list. A profit and loss statement from accounting software draws on more detail.
Can I add categories?
Yes. Add them at the bottom of the Categories tab. They appear in the dropdown and the category summary.
Can I use it in Google Sheets?
Yes. Upload the file to Google Sheets and check the dropdowns and totals after the import.
When should I move to accounting software?
When you invoice customers, pay bills on terms, run payroll or need reports a lender will accept. Many owners start here and move within a year or two.
Want a fuller version with worked examples? See Freelance / LLC Operations Hub in the store. This free template stays free either way.
Want more than a template? See Freelancer Income Tracker.
Want every toolkit? The toolkit membership includes all of them, with a lower rate if you pay yearly.
Related: Profit margin and markup calculator, Break-even calculator, Tax deduction checklist, Bookkeeping health check, or all free templates.
These templates track your own numbers. They are not tax, legal or accounting advice, and MCC Solutions is not a CPA firm. Ask your CPA how rules apply to you.