Geek alert – I love a spreadsheet.  Strange for someone who despises maths, but there you go.  When I registered as self employed I knew that organisation would be key to keeping track of my earnings. So I created a spreadsheet.  And it worked.

By keeping my spreadsheet up to date my tax return was quick and easy to do, and I know at any given time how I am doing financially.  So I thought I would share my method for keeping track of your earnings.

Keeping track of your earnings image of pound coins in stacks

 

See the end of this post for details of how you can receive my finance spreadsheet for your own use.

My Spreadsheet contains three worksheets:

  1. Invoices Billed
  2. Monthly Accounts
  3. Annual Income

 

1 Invoices Billed

Keeping track of your earningssinvoices billed spreadsheet screen shot

 

This sheet serves to track all the invoices I have raised for jobs I have done.  I can see at any one time what is outstanding and if anything is overdue.

Once an invoice has been paid I change the text in that row to a light grey colour.  That way I can easily see that it has been paid, the outstanding invoices are prominent, and I still have all the information should I need to look anything up.

The fields are fairly self explanatory:

  • Invoice Number – The number you allocate to the invoice
  • Invoice Date – The date the invoice is raised
  • Company – The name of whom the invoice is addressed to
  • Notes – Details about the work I was employed to do
  • Invoice Due – Date payment is due to made by
  • Amount – The amount owed
  • Paid Date – The date the payment was received
  • Payment Method – PayPal / BACS etc
  • Outstanding – The same as the amount owed.  This is so I can see my outstanding total at any given moment.  Once paid I remove the data from this cell.
  • Additional Notes – Anything else I feel might be relevant, such as currency being paid in, or agreed terms.
2 Monthly Accounts

Keeping track of your earnings Monthly accounts spreadsheet screen shot

This sheet shows me what I spend each month such as hosting and scheduling fees, and what money is paid in each month.  I have calculations that show me my profit for each month.

This is really handy for the tax return and helps you keep track of things really easily.

3 Annual Income

Keeping track of your earnings Annual Income spreadsheet screen shot

This sheet is fully automated and extracts the data from my Monthly Accounts sheet to give me a quick picture of my annual earnings.

 

 

To receive a copy of my excel spreadsheet for your own use, sign up to my weekly newsletter and the document will be emailed to you.  Keeping track of your earnings is really easy with this spreadsheet.

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Check out these great finance posts from other bloggers:

 

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Claire Kirby

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