For businesses, it is important to keep track of the advance or on delivery payments. If a manual record of all the payments will be kept. There will be a huge pile of invoices on the table to work on.
It will not only take a lot of time. Also, cause additional cost along with the possibility of errors.
- Is this sheet workable for E-Commerce (Online) and Banking?
- Can generate a printable sheet
- Can Manage bill through spreadsheet
The Payment Tracker Excel Template is a pre-designed spreadsheet created using Microsoft Excel that helps individuals or businesses keep track of their payments. It provides a structured format for recording payment details, such as the payment date, invoice number, client or supplier name, payment method, and amount.
The template usually includes multiple columns or sections where you can input specific information related to your payments. It may also include formulas and functions to automatically calculate totals, outstanding balances, or generate reports based on the entered data.
Using a Payment Tracker Excel Template can be beneficial for organizing and monitoring your financial transactions. It allows you to have a centralized location to record all your payments, making it easier to track outstanding invoices, identify overdue payments, and maintain accurate financial records.
These templates can be customized based on your specific needs or preferences. You can add or remove columns, modify formatting, or incorporate additional features to suit your requirements. Numerous Payment Tracker Excel Templates are available online, and you can find both free and paid options depending on your preference and budget.
Therefore, payment tracker Excel templates are helpful in all types of business. The most commonly used one payment trackers are rent payment tracking template, and bill payment tracking template.
Benefits of Payment Tracker Template:
There are several benefits of using a payment tracking excel template. However, the most obvious ones are;
- It saves a lot of resources, such as labor hours
- It contributes to cost-saving
- It improves the productivity of work
- It eliminates the possibility of errors
- It can be used to keep track of pending payments
- It can be used to filter out the paid customers list
In case developed business. All enterprise resource planning platforms such as ORACLE are used for the documentation of every single activity and transaction of the business.
These businesses can generate a list of pending payments from the ERP system. However, the template of the generated sheet must be developed as per the requirement of the business and payment tracker excel template.
However, the small businesses who can’t afford the expensive ERP systems. The payment tracker excel template is the only hope to manage the digital everlasting record of the pending, in-process and received payments.
Related Article: Bookkeeping Template
Customize Spreadsheet
Our payment tracker is highly professional and developed to fit for all-purpose with little customization. It is built using an excel spreadsheet that requires only beginners’ skills for customization and record keeping.
The most common uses of the payment tracker are;
- Rent Payment Tracking Template
- Bill Payment Tracking Template
- Money Payment Tracking Template
- Sponsored Post Payment Tracking Template
- Debt Payment Tracking Template
- Medical Bill Payment Template
How to create a Payment Tracker Template?
Business-specific payment tracker can be created using an excel spreadsheet or google sheet tool.
However, here we will provide simple guidelines to create an effective payment tracker excel template for general purposes.
- The monthly payment tracker has a large heading sounds as Payment Tracking. Also, the month for the tracking payments is written over the top.
Then, create a multi-column table for the record-keeping and tracking of the customer’s payments. The first column must include the customer number, followed by the customer name, description, contract or invoice number, amount, due date, expected payment date, date of payment, and payment method.
According to the business needs, brand or campaign name, network or contact name, service date, bill number, outstanding payment, the status of the payment can also be included. For managing the daily expense budget reports, you must need these types of templates.
In conclusion, the Payment tracking template is very useful in a number of businesses for keeping track of what payments have been received, what is pending payments, and what is the expected/due date?
It is very helpful. Thank you so much for sharing the quality content.
Thanks Uzair