Reconcile the company's bank accounts to the cash book. Post transactions from the bank statement that do not appear in the general ledger bank account, such as bank interest and charges and loan payments. Close the books with less runaround. Share this sheet with your accounting team to easily manage your financial month end process and keep everyone on schedule. Use the sheet for monthly, quarterly, and annual tasks. In March, the revenue from the sale is matched with the expense of purchasing inventory, and a $1,000 profit is recorded. When cash is received, Sterling reduces the accounts receivable account and increases cash. For more help on financial statements, see our guide to financial reporting. To download more free templates, see our guides on balance sheets and cash flow statements. Managing your cash flow is critical, especially in the first year of your business. Forecasting how much cash you will need in the coming weeks/months will help you reserve enough money to pay bills, including your employees and suppliers.