Turbid phantoms play a crucial role in evaluating optical systems and estimating optical properties. Liquid phantoms offer precise tuning of optical properties, but accurately determining their scattering properties is challenging. By using aqueous suspensions of standardized polystyrene microspheres, their optical properties can be theoretically derived using Mie theory. The parameters involved in calculating the scattering coefficient and phase function of microspheres in a liquid medium include the refractive index, density, size probability distribution and solid content of the microspheres and refractive index of the medium. The accuracy of these parameters directly affects the accuracy of calculated optical properties. A lack of clear protocols for phantom preparation and conflicting data in the literature may lead to easily avoidable inaccuracies. We introduce an open-source software that offers a detailed mixing protocol and subsequent optical property calculations for turbid phantoms. The software allows users to input details of the microsphere suspension, target optical property values, and choose between individual or sequentially diluted phantom mixing. It also accommodates the introduction of non-scattering molecular dyes to achieve specific absorption coefficients. The software facilitates recalculations of optical properties based on the actual quantities used during phantom preparation, offering flexibility and increased accuracy. Error estimates are provided using Monte Carlo sampling and error propagation. The open-source software is established as a comprehensive tool for preparing liquid turbid phantoms using microsphere suspensions, accessible to non-experts with basic familiarity of pipetting and use of analytical scales.