Bank balance tracker

What the bank balance tracker does

Knowing what you have across several accounts is the start of good money management. List each account with its opening balance, the money that came in and the money that went out, and the tracker works out the closing balance for each account and the total you hold, so you always know your position.

Who it is for

Small business owners and households with several bank accounts, M-Pesa and cash, and bookkeepers who start the month with a clear picture.

How to use the workbook

1. List each account with its opening balance.
2. Enter the total money in and money out for the period.
3. Read the closing balance of each account.
4. Compare it with the bank or M-Pesa statement.
5. Save a copy under a new name for each month or year, so earlier records stay as they were.

What is inside

• One row for each account
• Closing balance worked out
• Total held across all accounts
• Account type choice
• Summary by account type with a chart

The workbook has these sheets: Instructions, Accounts, By type. The main table has the columns Account; Type; Opening balance; Money in; Money out; Closing balance. Yellow cells are for you to fill in and grey cells calculate by themselves, so leave the grey cells alone. The example rows show how it works; type over them with your own entries.

Tips for getting it right

• Update the sheet at least once a week.
• Compare each closing balance with the statement.
• Investigate any difference at once.
• Save a copy at each month end.

Why keep this record

Accounting records let you answer three questions at any time: what came in, what went out and who owes whom. Kept consistently they also make tax returns, loan applications and the sale of a business much easier, because the evidence is already organised. Entering transactions the day they happen is far cheaper than reconstructing them at year end.

Questions people ask

Do I need to know Excel formulas? No. Type into the yellow cells and the rest is worked out for you. The formulas are visible if you want to see how a figure is reached.

Can I add rows or change the layout? You can add your own columns to the right and your own notes. If you insert rows inside a table, copy the grey formula cells down so the new rows calculate too.

Will it work on my phone or in Google Sheets? Yes for viewing and typing, but dropdown lists and the charts look best in desktop Excel or LibreOffice.

Keeping it safe and up to date

Good accounting records are a legal duty as well as a management tool: keep the supporting receipts and invoices with the workbook, and keep each year's copy for at least five years. Work on a copy, never on your only file, and back it up.

Read how to keep business records for KRA for the wider picture. Free calculators that go with it: Vat calculator. See more accounting templates or ask us for a custom one.

The workbook works in Microsoft Excel, LibreOffice and Google Sheets. It is a tool to help you work out and record figures, not tax, legal or accounting advice, and it is not affiliated with the Kenya Revenue Authority. If something does not work as described, contact us and we will put it right.

Related guides, calculators and templates

• Free calculator: VAT Calculator
• Guide: How to set up an M-Pesa till or Paybill for your business and account for it
• Guide: How KRA uses data matching and what it means for you
• Guide: How to protect your business from fraud and theft
• Another template: Accounts receivable ledger (up to 1,000 invoices)
• Another template: Credit note with VAT
• Another template: Customer deposits and advance payments ledger

Need something different? Request a custom template, browse all guides or see every Excel template.