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Management Accounts Template

Use our unique monthly management accounts template to create comprehensive monthly management accounts in Excel consisting of an income statement, cash flow statement and balance sheet. Link your accounts to our financial reporting classes on the Key sheet and add monthly trial balances for the current year, prior year and a forecast to map your accounts to the automated monthly financial reports.

  • Comprehensive automated management accounts in Excel
  • Includes income statement, cash flow statement and balance sheet
  • Compares actual results with forecast and prior year results
  • Includes monthly & year-to-date analysis
  • Includes monthly income statement for analysis of income & expenses
  • Accommodates any account structure and trial balance format
  • Link account codes to pre-defined financial statement reporting classes
  • Easy to roll forward for subsequent years and to update monthly
  • About the Author
  • I’m Wilhelm, a Chartered Accountant and the founder of Excel Skills International. Since founding the business in 2009, I’ve poured years of hands‑on Excel expertise and accounting know-how into developing 100% unique, intelligent templates — solutions that feel more like software than spreadsheets.
  • What sets our templates apart?
  • Fully automated insights from minimal input — most Excel templates are little more than forms. Mine use powerful formulas and built-in logic to produce complex, dynamic reports without requiring advanced Excel skills.
  • Built for real-world use, not novelty — everything is designed for practicality, reliability, and accuracy, backed by professional accounting experience.
  • Trusted by a global audience — serving customers in over 100 countries across six continents.
  • One-time purchase & download, lifetime use — no recurring fees, downloaded files never expire. You pay once and keep using your templates indefinitely.
  • Every template you see on this site carries my commitment to clarity, efficiency and automation. I don’t just create Excel files — I engineer trusted tools that streamline accounting tasks and empower small businesses and professionals worldwide.

How to Create Monthly Management Accounts in Excel (Using Our Template)

Management accounts are the monthly “cockpit instruments” of a business — clear, timely numbers that help owners and managers steer with confidence. With our management accounts template in Excel, you can generate a professional set of reports every month — fast — while comparing actual results to a forecast and to the prior year. No more copy-paste gymnastics!

What are management accounts?

Management accounts are a structured set of financial reports — typically an income statement, cash flow statement and balance sheet — prepared monthly for internal decision-making. They focus on timeliness, comparability and trend analysis (month-on-month and year-to-date), so managers can spot issues early, double-down on what’s working, and keep plans aligned with reality.

Why monthly management accounts matter for small businesses

  • Speed over perfection: You need reliable numbers quickly, not a forensic audit. Monthly reports keep decisions moving.
  • Compare plan vs. reality: See how actuals track against your forecast and last year so you can adjust tactics early.
  • Cash discipline: Cash flow visibility prevents surprises—especially important for growing small businesses.
  • Investor- and bank-friendly: Clean, consistent monthly packs signal maturity and control.

What’s inside the template (Excel / xls)

Our management accounts template in Excel automates a complete monthly pack:

  • Automated reports: Income Statement, Cash Flow Statement and Balance Sheet, updated from your monthly trial balances.
  • Comparatives built-in: Actual vs Forecast and Prior Year, for both monthly and year-to-date views.
  • Monthly analysis: A dedicated monthly income statement for income and expense analysis.
  • Flexible mapping: Link your account codes to pre-defined financial reporting classes on the Key sheet — works with any chart of accounts or TB layout.
  • Roll-forward ready: Designed to update monthly and carry forward into new financial years with minimal effort.

How to set up your management accounts (step-by-step)

  1. Download the file. Use the Sample (xlsx) or Trial (xlsm) to explore, then buy the full version when you’re ready.
  2. Open the Key sheet. Map each of your general ledger account codes to the provided financial statement reporting classes (e.g., Revenue, COGS, Operating Expenses, Assets, Liabilities, Equity). This tells the template where each account belongs in the automated reports.
  3. Load your trial balances. Paste cumulative monthly TB figures for:
    • Current year actuals (month by month)
    • Prior year (for comparatives)
    • Forecast (your plan for each month)
    The template is TB-format agnostic; once accounts are mapped on the Key sheet, the reports will line up automatically.
  4. Set your reporting period. Confirm the financial year and month selections (as applicable) to drive the monthly and YTD views.
  5. Review your pack. Open the Income Statement, Cash Flow and Balance Sheet tabs to confirm totals, headings and comparatives. Use the monthly income statement to scan variances and trend lines.
  6. Save, share, repeat. You now have a clean, consistent monthly pack—ready for management meetings, investors or lenders.

Reading the reports: actual vs forecast vs prior year

The template highlights variances and trends so you can act fast:

  • Actual vs Forecast (Plan): Confirms whether you’re tracking to plan; outliers flag where to investigate pricing, volume, or cost overruns.
  • Actual vs Prior Year: Separates growth effects from seasonality; ideal for small businesses with cyclical sales.
  • Monthly & YTD: Month-specific variances show acute issues; YTD smooths noise to reveal direction.

Your monthly update routine

  1. Export the TB: From your accounting system (same accounts each month).
  2. Paste values: Into the current month’s columns in the template.
  3. Scan variances: On the monthly income statement; add brief commentary if sharing with stakeholders.
  4. Quarterly tune-up: Refresh the forecast if assumptions have shifted.
  5. Year-end roll-forward: Use the built-in structure to roll into the next financial year and keep your history intact.

Frequently Asked Questions

Will this work with my chart of accounts?
Yes. Map your account codes to the pre-defined reporting classes on the Key sheet and the template will route numbers into the correct statements.
Can I use it even if my TB layout changes?
As long as you map all active accounts, the template accommodates different TB formats — just keep the mapping current.
Do I need advanced Excel skills?
No. Paste your monthly TB, confirm the period, and the template automates the rest. It’s built for practical, repeatable monthly reporting.
management accounts template sheet 1
Management Accounts Template - Sheet 1
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Management Accounts Template - Sheet 2
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Management Accounts Template - Sheet 3
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Management Accounts Template - Sheet 4
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Management Accounts Template - Sheet 5
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Management Accounts Template - Sheet 6
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Management Accounts Template - Sheet 7
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Management Accounts Template - Sheet 8
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Management Accounts Template - Sheet 9
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Management Accounts Template - Sheet 10
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Management Accounts Template - Sheet 11
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Management Accounts Template - Sheet 12