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How to make a spreadsheet for a business

Updated February 21, 2017

Record keeping is an essential component in business. Maintaining accurate records lets you know how well you are doing in various areas and helps you to quickly retrieve information as the need arises. Among the most important records your business will keep are financial records. Financial records for businesses are commonly maintained in the form of spreadsheets---grids that organise information into columns and rows. Use spreadsheets to track your monthly financial information so that you can constantly monitor your financial progress and locate the information quickly when preparing for tax season.

Purchase spreadsheet software such as Microsoft Excel or Microsoft Works Spreadsheet. Often, these items come with the purchase of a new computer. Check your program files to ensure a basic version of spreadsheet software is not included before completing your purchase. Alternatively, you can utilise free online spreadsheets offered by Openoffice.org.

Select or download a template for your financial spreadsheet. Choose "Profit and Loss Statement" or "Business Budget" when searching for a template. Most spreadsheet software comes with a library of free templates.This is the fastest way to create a functioning spreadsheet since the formulas are already included.

Create two columns on a sheet of lined paper. Write a list of all your business expenses with the merchant's name on the left and the purchase amount on the right.

Insert each business expense on your sheet into the labelled spaces on your spreadsheet. Check off each expense as you enter them into your spreadsheet. The template you use will include labels for the most common areas of business. Customise your labels to include detailed categories such as Internet services, cleaning services, corporate gifts or contractor fees, if applicable. Enter your business income in the designated spaces.

Review your spreadsheet numbers against actual receipts and bank or credit card statements. Once you confirm that all information is accurate, save your document to your hard drive.

Tip

If you would like mobile access to your spreadsheet, opt for an online spreadsheet instead of the traditional spreadsheet software.

Warning

Avoid adding or deleting rows in your spreadsheet, as you can cause the formula for the template to malfunction. Instead, change or condense information on your spreadsheet as needed.

Things You'll Need

  • Spreadsheet software
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About the Author

Lanae Carr has been an entertainment and lifestyle writer since 2002. She began as a staff writer for the entertainment section of the "Emory Wheel" and she writes for various magazines and e-newsletters related to marketing and entertainment. Carr graduated from Emory University with a bachelor's degree in film studies and English.