2 Basic Tips on How to Use Excel for Your Business

Excel excelis one of the programs that you can use to organize and sort your precious business data. Data and numbers might be boring for many, many small business owners and if you are still reading after the word “data”, you are either a data geek, or a person, who really wants to grow their business and doesn’t get discouraged by things that may not be that exciting at a first look. Kudos to you! You are going to succeed, because part of the success is getting through the boring “data” part of business and making it work for you.

1. Basic Bookkeeping

Bookkeeping, you like it or not, is an integral part and necessary part to have a successful business. It is important to know how much you make each month and how much you spend. If you are at the point of starting your business, be it as an independent contractor or a freelancer, and want to keep the budget low, one of the best ways to start without any major investment is to record your income and expense into excel sheet (or google docs, which are for free)

Simply open a new workbook and create at least 4 basic categories: Date, Customer, Income Category, and Amount. You may get fancy and format the data as a table. Having all income information in one place can turn out to be very useful not only during tax season but also when calculating your quarterly estimated taxes (or giving it to your accountant to calculate).

excel income categories




Make a new sheet and create another 4 categories for your expenses.

excel expense categories



That is one of the least expensive and still efficient ways to keep your records in one place and keep on track how much you are making.

2. Invoicing your Customers

Excel has many useful and cool templates ready for your business use. Do you need to invoice customer for multiple items and want to make sure that you calculate it correctly? You don’t have any fancy software program or application installed yet – the easiest way is to use Excel invoicing template! Just click on “File”, Select “New”, and search for “invoice’. Click on templates, see the preview and pick the best that fits your business needs. Plug in your business information into the fields and voila – you have a professionally looking invoice ready to be sent to your customer!

invoice template excel









These are two basic tips.  Stay tuned for some video tutorials in the other posts!

To your Success,

Lucie Tesar

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