Benjamin Franklin said that there is nothing certain in life except death and taxes. There isn’t much we can do about the former, but luckily for us, this Excel template would help us organize and keep track of your businesses’ transactions. Our Bookkeeping and Tax Income Excel template enables you to record all your company-issued invoices of your transactions using an interactive and comprehensive dashboard that lets you use drop-down lists in order for you to log down your records with ease as well as slicers to help you better represent your data. An added bonus is this template puts an emphasis on keeping track of your income tax per transaction, so you don’t end scrambling to crunch your numbers during tax filing season.

Before we go into detail of how we can utilize this template, make sure to check out our other templates like the CRM, Expense Report, and Cash Flow Planning templates. All these templates would greatly help your business with its finances –allowing you to automate the creation of invoices, creating insightful financial reports for your analysis, and aid you in creating strategic financial policies to set you up for success in the future!

To get started with this template, head over to the database sheet. In the left portion, we input our tax details. Input the various tax brackets per rate that are applicable to your business. In the right portion, list down your payment methods, and the services you provide. Once you’re done there, you can head over to the Bookkeeping Management Sheet. You have an area where you can log down all your transactions. Input the invoice date, invoice number, company name, service provided, invoice description, invoice amount, and whether income tax is applicable. The tax rate, tax amount, and total amount are given to you automatically. Select whether the transaction’s paid for already. If yes, input the payment date and payment method. Payment lead time will be given to you automatically.

On top, you’re given a dashboard that has highlighted metrics, bar charts that show you your figures across different categories, and charts that shows the divisions of amounts per payment method and per service provided. You also have some slicers that allow you to manipulate your charts based on your reporting needs. Lastly, if you want to get the raw data in tabular form, you can head over to the Accessibility sheet. All your data appears here automatically after you’ve logged them down in the previous sheet. There are many things in this world that are uncertain, but one of the things that are is that you’ll make bookkeeping and income tax computation a breeze!

If that wasn't enough reason to get this template, did you know this template is compatible with Google Sheets? Collaborate with your co-workers in real time and enjoy the cloud auto-save feature of Sheets when you use this template!

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