One of challenges in launching a small business is tracking income and expenses. Of course, most people turn to Quickbooks or other similar products to manage this. If you are doing high transaction volume and need electronic payments, that is a good choice. But for small businesses that have limited transactions, the complexity of learning and using an accounting system can be daunting.
That’s why I developed the attached Excel spreadsheet template. It lets you quickly set up a Chart of Accounts, enter Transactions, and dynamically creates an Income Statement. It has a slightly unconventional presentation for the income statement because everything it calculates is automatically generated from your Chart of Accounts, which you can add to at any time.
Hopefully, someone will find it helpful, either as a tool for your business or to provide some ideas about how to do dynamic spreadsheets within Excel.
Download it here: https://burkecox.com/wp-content/uploads/2025/06/00-Annual-Budget-Template.xltx.zip