This is a Double Entry Bookkeeping Accounting System spreadsheet in Microsoft Excel for any Trading/Retail companies. In accounting, double-entry bookkeeping means every financial entry to an account (mostly in journals) requires a corresponding and opposite effects in at least two different accounts. It is used to satisfy the equation Assets = Liabilities + Equity, in which each entry is recorded to maintain the relationship. With this method, all required financial reports will get balance values. It needs accounting knowledge to entry all information to correct accounts, though. It will confuse people if they don’t know its basic terms since debit and credit classification could be different in each journal types.
There are many accounting software you can use for these accounting entry and report purposes. But, only a few that use Microsoft Excel as its foundation. Also, most of them requires Macro to be activated which make it uncomfortable if people plan to move spreadsheet between different Operating System and Excel version. This accounting system spreadsheet is not using Macro or any VBA codes. But, still, it requires you to understand basic knowledge of Accounting to use it properly as well as to do minor modification to fit in your company financial situation.
This accounting spreadsheet is intended for recording data of Trading/Retail companies. If your business or your job is related with this type of companies, you may find this spreadsheet is suitable for you. Companies that can be classified in this category are stores or distributors that purchase and sell items with particular prices where they basically just hand over items by getting profit from their price differences. That’s why they will see Cost of Sales part in respective financial reports.
This spreadsheet is suitable for :
– Students who want to practice their accounting skills. They can find accounting cases and map it into this template.
– Accounting Managers and Staffs who want to record and track their company financial activities by using Microsoft Excel where the data can be processed and transferred easily between Excel and other Office Suites (Word, Power Point, Access)
– Small Business Owners who want to track their company financial situation using any type of devices without worrying about their incompatibilities.
There are plenty of accounting models adopted by many companies to generate their accounting reports. This spreadsheet represents a general model of accounting report that you can customize to meet your company’s report model. You may add more journals, modify report formulas, add more financial forms etc. Since this spreadsheet is created in Microsoft Excel, you won’t have any difficulties on modifying it as long as you have Excel and Accounting basic knowledge.
Accounting System Spreadsheet Features
It requires basic knowledge of accounting, especially double entry book keeping knowledge, to use this spreadsheet properly. Even though all data entries will be processed automatically, inputting transaction data in incorrect places could yield incorrect calculation that could make balance sheet become unbalance and give you incorrect financial reports.
1. Home Panel
All tables are linked in this home panel. It should ease you accessing all tables by clicking respective buttons. All buttons are arranged like a flow chart that should remind you on the next task to do.
2. Integrated data entry and report
This spreadsheet is equipped with formulas where all entries will be processed and calculated to yield financial reports that should be useful to analyze your company’s performance.
3. Simple Journal Entry System
There are one general journal and four special journals that will help you recording all transaction activities daily. They are all have similar formats. You just need to entry data in respective journals and make them balance (remember that this accounting spreadsheet is using a double entry bookkeeping method).
4. Customized Balance Sheet Report
You can set which company account you want to be shown in Balance Sheet report. And respective values will be calculated and shown automatically. All data will be calculated from Journal entries.
You can design your own balance sheet report as well. There is one worksheet where you can create your own report manually.
5. Customized Profit and Loss Report
Similar to balance sheet, you can set which company account you want to see in Profit and Loss report. And respective values will be calculated and shown automatically based on Journal entries.
6. Customized Cash Flow Report
You can choose which method you want to use on presenting Cash Flow report. There are two methods, Direct and Indirect Method. Set the accounts you want to see in both methods and respective values will be shown.
7. Automatic General Ledger
You don’t have to type anything in this General Ledger worksheet. You can monitor debit and credit of respective accounts by selecting its Chart of Accounts number and see its summary.
8. Automatic Depreciation Calculator
There is a formula to calculate depreciation of your company assets automatically. You can put all of your assets that have different purchasing dates and usage period within one table. It should ease you on getting the values to be put on respective journals and reports. It uses a common Straight Line method to depreciate all of your assets.
9. Automatic CoGS Calculator
There is a formula to calculate CoGS of all of your products per unit within one single table. It uses AVERAGE method. It should ease you on getting the values to be put on respective journals and reports.
10. Fully Unprotected
Different company requires different accounting report format. You can tweak the formulas, add more worksheets, add charts and modify all layouts to suit your company’s financial report policy and style.
- Microsoft Excel 2007 and above for Windows
- Microsoft Excel 2008 and above for Mac
There are individual worksheets that you can download below. The Pro version combine all of those individual worksheets into one integrated workbook where you just entry data to journal worksheets and other entry data worksheets and see financial reports calculated automatically.
> General Journal
> Special Journal
> Adjusting Journal
> Petty Cash
> Balance Sheet Report
> Income/Profit and Loss Statement Report
> Cash Flow Report – Direct Method
> Cash Flow Report – Indirect Method
> Equity Report
You may need additional features that are not available in this accounting system spreadsheet. We can customize this spreadsheet based on your requests. Email us for further discussion. Our rate is USD 25 per hour.
You will get two files in this package. One file with dummy accounting data that should ease you understanding how this accounting system works and one file with blank tables that you should fill with your company and financial information.