Download Service Business Accounting Template In Excel

In business, there are three different common business classification you can find. They are service, merchandising and manufacturing businesses. Thus, In financial and accounting terms, it leads to different method on how to record and report its transaction.

Service Accounting

Moreover, Service business accounting is a business that provide intangible products. So, It doesn’t have any physical stocks/inventories. Hence, Consultant, law firms, cleaning services companies fall to this category. They provide services where they needed to complete at the agreed time.

Book Keeping

Service Business Accounting Templates will help you to record your transaction in Accounting way. Why accounting way, because it applies Double-Entry bookkeeping method where any recorded transactions in each journals must have the pairs in Debit and Credit columns. In accounting terms, debit and credit terms have different meaning with debit and credit in bank accounts. To use this spreadsheet, you need basic knowledge of accounting.

This accounting system for service company spreadsheet suit any type of businesses that don’t require CoGS as part of expenses calculation. Typically, a service company :

  • doesn’t have physical product form. As for examples, consultant provides advises while singer provides good voices.
  • has no standard prices so they are decided by quality, good and famous singer will be more expensive than unknown singer.
  • doesn’t require warehouse or physical place to put stocks. Value is usually more on their talents.

Based on above accounting firm, here are some businesses that can be classified as service companies

  • Architect and Management Consulting Firm
  • Lawyer
  • Saloon
  • Car rental
  • Seminar equipment rental
  • Language courses
  • Artist Management
  • Laundry services
  • Car wash services

This spreadsheet is suitable for accounting services :

  1. Students who want to practice their accounting skills. They can find accounting cases and map it into this template.
  2. Accounting Managers and Staffs who want to record and track their company financial activities by using Microsoft Excel where the data can be processed and transferred easily between Excel and other Office Suites (Word, Power Point, Access)
  3. Small Business Owners who want to track their company financial situation using any type of devices without worrying about their incompatibilities.

This service business do not require inventory no Cost of Sales or Cost of Goods Sold will appear in your financial report. Record your income and expenses in one General Journal. Then, adjust unbalance transactions at end of particular period (month or year) in Adjusting Journal before preparing your financial reports.

Public Accounting Features

These templates will automate your journal entries into General Ledger and financial reports automatically. You don’t have to write your transactions twice, by dates and accounts, like what you might do if you did it manually. Hence, You just select particular accounts in General Ledger and see its summary within one table.

So, You can access all worksheets from Home Panel inside the spreadsheet. Those buttons are arranged by flow of data entry. It should easy you on switching to other worksheet sequentially and very quickly.

Hence, You can use this Accounting for Service Business spreadsheet to record daily transaction within one accounting period. So, There are options to see financial summary in total or by months. Thus, This spreadsheet is not free, but you can do anything with the paid version. All worksheets and formulas are unprotected where you can modify to suit your own needs.

Download this Service Business Accounting template in Excel Format

Our easy to use editable Excel templates and save your significant amount of time and effort. Here’s how to download and use one of our templates:

  1. Download this free Excel Template: Once you’ve browsed through our collection of templates and find the one that best fits your needs. Once you’ve found the template you want, click on the download button.

  2. Replace sample data with your actual data: Once the template is downloaded, open it in Excel. You’ll see that it is already set up with sample data. To start analyzing your own data, simply replace the sample data with your actual data.

  3. Customize the template: Our templates are completely editable, which means you can customize them to fit your specific needs. For example, you can change the formatting, add or remove columns, or create new charts and graphs.

  4. Use the Excel template: Once you’ve fed in your data and customized the template, you’re ready to start using it for data analysis. Use the various tools and features of Excel to analyze and visualize your data, and make informed business decisions.

  5. Save and share: Once you’ve finished working on the template, save it to your computer and share it with other members of your team or stakeholders as needed.

Click Download Button To Get Service Business Accounting Excel Template

Instruction :

All Excel templates and tools are sole property of User can only download and use the excel templates for their Personal use only. All templates provided by XLSX templates are free and no payment is asked. However, you are not allowed to distribute or share in any other website for sole purpose of generating revenue from it.

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