Learn to do bookkeepingand start a bookkeeping business at the same time - no experience required!

Go there

Beginner Bookkeeping
Home
How it Works
Single Entry
Double Entry
Bookkeeping Terms
Tests/Quizzes
What to Do
Ofce Procedures
Software
Business
Bookkeeper
Articles
Reports & Forms
Excel Templates
Printable Forms
Prot Loss
Balance Sheet
Receipt Forms
Cash Flow
Community
Supplies
Questions
Blog
Subscribe
Contact
Site Admin
About
Site Map
Site Search
Privacy Policy
Disclaimer
Afliate Disclosure
 Custom Search Search

Ads by Google

Accounting & Bookkeeping

Inventory Spreadsheet

Sample Template

Excel Spreadsheet

Single Entry Bookkeeping

Using A Cashbook For Easy Bookkeeping
It is possible for a business to operate with the single
entry bookkeeping system if the business is newor the
business transactions are low in volume and
uncomplicated.

-33% -45% -45%

Calcium X P Calcium X J Nu-Beta Gr Nu-Beta Gro Click here to get the template. It opens in
a new window - from there you can save
-61% -45% -15% it to your device.

NeoCell Sup Nu-Beta Gr Original Glo Peak Height

Single entry bookkeeping is an easy way to step yourself

into accounting! Andits cheapbecause you do not have
to invest in bookkeeping software.

This method of bookkeeping is a simple record of income

and expenses using a manual cash book and calculator,
or a spreadsheet in a self-calculating program such as
Open Ofce, Microsoft Excel or Quattro Pro.
 Get 10 printable forms in one download - signup for our
free eBook
"10 Bookkeeping Forms and Templates".
Included are completed examples and a mini guide for
both single entry and double entry bookkeeping.

Single Entry Bookkeeping Cashbook Example

If you are keen on starting with single entry
bookkeeping for your budding business, then take
a look below at the sample of a cash
book/spreadsheet. Its very easy to set one up
just like it to track your income and expenses.

Click here to check out all our other

printable forms.

The Cashbook Columns Explained

The Date - This is the date of the transaction which you can get off the accounting source
documents.

Description - A brief description of the transaction. You can put whatever information you feel
necessary, but dont overdo it!

Reference - You can basically choose

whatever reference will help you identify the
transaction. Some people use the invoice
numbers, or the initials of the type of payment
transaction (like DC for Direct Credit). The
reference can be written somewhere on the
transaction document, if its not on there
already - like an invoice number. This is a
good way of cross referencing the transaction
and payment between the cashbook and the
document.

Income/Expenses - Simply insert the value of

the transaction into the appropriate column...
is it money coming in to the business or
money going out of the business? You could
change the headings to Money In and
Money Out if you prefer.

Bank - This is a running balance column that

changes each time a transaction is entered.
Save 301
Add the income, subtract the expenses.
Notice on 01 Apr there is an opening balance. This is the balance taken from the last day in
March and brought forward (b/f) to Apr. It can also be called b/d - brought down.

You can nd out more about the cashbook format and design your own one if you prefer to suit
your requirements.

Okay! Now youve got the hang of that, lets discuss the bottom section of the spreadsheet...

The Bank Reconciliation

This is done to match the cashbook total to the bank statement total for the end of April. You
just need to go through and tick each cash book item that has a corresponding entry on the
bank statement. Or you can put an R for reconciled as the example above shows.

Also included in the reconciliation is the check of $125.00 - this was already written in the cash
book but as at the end of April the supplier had not yet presented it to their bank so it is added
back in. The deposit made of $54.00 is yet to be taken to the bank by our bookkeeper so this
has to be taken away.

Do not include any transactions in the cash book that are never going to be reflected on the
bank statement. The two should always be in agreement.
Learn more about bank reconciliations here.

Expanding The Single Entry Bookkeeping

Spreadsheet
If you want to keep a slightly more detailed cash book you can do the following:-

Click Here To Download A Free, Printable Template Of This Spreadsheet

Single Entry Expanded Cashbook Columns

A separate column is made for each sale item and each

expense item, and totaled. This is a great way of keeping
-33% -45% -61%
closer tabs on how much you are receiving or spending for
each income or expense type.

These separate columns are what make up the accounts of

Calcium X J Nu-Beta Gr NeoCell Sup
a bookkeeping system i.e. bank account, stationery account,
internet account and so on. -15% -50% -45%

With this extended sheet it is wise to double check that the

totals going across the sheet add up to the totals going
down the sheet and so maintaining the accuracy of your Peak Height Puritan's Pri Nu-Beta Gro
accounts.

The difference between the Income and Expenses is written

just below the Income Bank column as the c/f gure. Carry
on with a bank reconciliation as per previous example.

How To Make A Prot And Loss Report From The Single Entry
Cashbook
One of the most important things you can use this single entry bookkeeping spreadsheet for is
to make a report - the Prot and Loss report (also known as an Income Statement).

This report is very simple - it is the total Income minus the total Expenses equals your Net
Prot (or loss).

Why should you do this report? So you can see if your business is worth operating. If it makes
a prot - great!

If it makes a loss (in other words, your income does not cover your expenses), not so great.

If it continues to make a loss, you need to decide what to do to turn things around and make a
prot.

Go here to learn more about the prot and loss and get a template.

How To Make A Balance Sheet Report From The Cashbook

If at some stage you require a balance sheet, you can pass on the single entry
bookkeeping records to your accountant.

He/she will also need to know how much your customers owe you and how much you
owe your creditors.

Then your accountant will enter your totals into a double entry bookkeeping system and
produce a balance sheet.

If you want to make a balance sheet yourself read more about balance sheets hereand keep in
mind that it is more difcult to pull together than a prot and loss report.

Now, if you are wondering why you would need a balance sheet here are a few reasons:-

Your bank may request one if you apply for a loan.

If you decide to sell your business a prospective buyer will most likely want to look at it.

Why? Because a balance sheet shows the nancial condition of your business and whether or
not it is viable.

If you like using Microsoft Excel, check out our Excel

Cashbook.
It is based on this single entry bookkeeping
spreadsheet but it includes a prot and loss report
 anda balance sheet that update automatically as
you enter the gures.

Once your business grows and youre able to process a cashbook with condence you can
move on from single entry bookkeeping and learn how to dodouble entry bookkeeping.

GET FREE UPDATES

Subscribe to get our latest content by email.

First Name

Email Address

Subscribe
We won't send you spam.
Powered by ConvertKit
You are here:

Bookkeeping Single Entry Bookkeeping

Like 633

Follow 3.6K people are following Beginner Bookkeeping. Sign Up to see who your
friends are following.

Facebook Comments Recent

Have your say about what you just read! Articles
Leave me a comment in the box below.
Starting A
81 Comments Sort by Newest Bookkeeping
Business. No
Bookkeeping
Add a comment... Experience
Required
Nov 06, 17 11:17 PM

Trudy Adams
Temple Ewell
Your spreadsheet looks great - but I have a quick
usage question. I understand the CashBook should
represent a single bank account ... but how do I deal
with activity not in my business account. For instance
- if I work from home, my utility bills will be paid from
my personal bank account, but I need to claim a
percentage of those bills as business usage. Or
maybe claim a percentage of my mileage for
business, where most of the payments will be from
another bank / personal account. How do I best
represent those on the spreadsheet, if they will not be Starting a bookkeeping
present on my business bank account? business with no
bookkeeping or
Many thanks for any help you can provide,
business experience is
Trudy
possible. How?
Like Reply Mark as spam 1 May 4, 2017 12:15am
Read More
Glen Lepp
Mohawk College
Has anyone answered this? I need to know Free Bookkeeping
too!
 Like Reply Mark as spam 1 Oct 2, 2017 Forms And
8:18am Accounting
Sarah Booysen Templates |
Owner-operator at Beginner Bookkeeping Printable PDF
Glen Lepp Check out the home office tax Oct 24, 17 09:32 PM
expense claims information here
http://www.beginner-
bookkeeping.com/home-office-tax...

You can track your home office tax expenses

using the form found on the link above,
and/or bring them into the single entry
cashbook by 1) entering the amount into the
'Capital' column and 2) in the same row
entering the same amount under an expense
column headed 'Home Office Expenses'.
Entering the money in and money out is done
in the same row to prevent the business bank
balance being affected. The money in goes
under 'Capital' because it is personal funds
the business owner has used for business
purposes.
Over 25 free printable
How often to track and enter? You can do it bookkeeping forms
monthly and enter it on the date that is the and templates in PDF
last day of the month, or do it once per year for small business
on the last day of the financial year. Let me accounting. Click here
know if you have any other questions. to download and learn
Like Reply Mark as spam Oct 2, 2017 4:25pm how to use them. Excel
templates also
Regina Tok available.
Singapore Polytechnic
May I ask if I have 5 outlets and i need consolidate Read More
into 1 accounting is it possible? Need assistance.
Thanks
Free Accounting
Like Reply Mark as spam 1 Jan 22, 2017 11:47pm
Excel Template
Beginner Bookkeeping Sep 03, 17 08:51 PM

It is possible if each outlet is assigned to it's

own category, so income and expenses
(cogs) for each outlet is categorized
separately from each other, and if the
bookkeeping software can produce a profit
and loss report for each category so you can
see how each outlet is doing.
Like Reply Mark as spam Jan 25, 2017 3:47pm

Zablon Mwale
Footballer at Kenya Revenue Authority
Very helpful, easy to understand and it's simply
 Like Reply Mark as spam 1 Nov 25, 2016 7:15am

Lori Burnett
Customer Service Representative (CSR) at South Shore Heating, Air
Conditioning and Hydronic LLC
Why can't I download a printable copy of this sheet? I
clicked download, and everything else and I get
nothing.
Like Reply Mark as spam Nov 23, 2016 3:55pm

Beginner Bookkeeping
Hi Lori, the link was broken but it's fixed now.
Thanks for pointing that out!
Like Reply Mark as spam 1 Nov 24, 2016
4:51pm Edited

Elane Catap Verzosa Accounting excel

Angeles University Foundation template for tracking
verry helpful,,and easy to understand!!! income and expenses
Like Reply Mark as spam 1 Oct 15, 2016 3:17am with sales tax and
reports
Beginner Bookkeeping
Thanks for commenting Elane! Glad you find Read More
it helpful .
Like Reply Mark as spam 1 Oct 20, 2016
1:46pm

Load 10 more comments

Facebook Comments Plugin

 Back to Top: Single Entry Bookkeeping

HOME CONTACT ABOUT DOUBLE ENTRY CASHBOOK BASICS FORMS BUSINESS PRIVACY BLOG NEWSLETTER SITE MAP

BUILD YOUR OWN INCOME EARNING WEBSITE WITH SOLO BUILD IT!

BEGINNER BOOKKEEPING BY SARAH BOOYSEN

COPYRIGHT 2011- ALL RIGHTS RESERVED

Recommended for you

Small Business Bookkeeping for Small 8 Small Business
Bookkeeping Tips 2 Businesses Bookkeeping Tips

www.beginner-bookkeeping.com www.beginner-bookkeeping.com www.beginner-bookkeeping.com

AddThis