Trading Accounting Sample

Excel
Excel Skills
Skills || Accounting
Accounting Template
Template || Trade
Trade Based
Based
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About thisthis template
template
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Excel Skills | Accounting Template | Trade Based
Instructions
www.excel-skills.com
This unique template enables users to record income, expenses, stock purchases, inventory valuations and non-cash On
On this
this sheet:
sheet:
adjustment transactions and automatically produces a trial balance, bank reconciliation, monthly & annual income statement This
& cash flow report and a monthly balance sheet. The innovative functionality that has been incorporated into the template
This sheet
sheet includes
includes detailed
detailed instructions
instructions
on
on setting
setting up
up and
and using
using this
this template.
template.
makes it the ideal accounting solution for small to medium sized businesses. The flexible design of the reports that are
included in the template makes it easy to amend the dates that are included in the monthly income statement, cash flow
report and balance sheet and the template can therefore easily be rolled forward for any subsequent financial periods.
Note: The Trade Based Accounting template has been designed specifically for trade based businesses and is therefore
suitable for any business that requires accounting for inventory, regardless of the type of inventory that needs to be
accounted for. The template enables users to include a monthly inventory valuation in the financial results in order to
measure monthly cost of sales and gross profits. Our Service Based Accounting template should be used if inventory This
This is
is the
the only
only
accounting is not required. protected
protected sheet
sheet inin the
the
full
full version
version ofof the
the
template!
template!
Worksheet Summary
The following sheets are included in the template:
Set-up - the input cells on this sheet enable you to customize the template for your business. The business name is used as
the heading on all of the sheets and the sales tax percentage is used to calculate the sales tax on all income & expense
transactions. The template start date, report start date and year end input cells determine the monthly periods that are
included on the trial balance and financial reports. The bank accounts section can be used to add additional bank accounts
to the template and the error codes are provided for information purposes.
Accounts - this sheet contains the default list of accounts and a trial balance that is automatically calculated from the
transactions that are entered on the Income, Expenses and NonCash sheets. The default accounts can be customized by
editing the existing account numbers and descriptions or by creating additional accounts. The periods that are included in the
Trial Balance can be defined by the user and all calculations are updated automatically based on the period that is specified.
Income - all income and other receipts should be recorded on this sheet.
Expenses - all expenses and other payments should be recorded on this sheet.
NonCash - this sheet facilitates accounting for general ledger journal type entries and other non-cash adjustments. The total
of all the journal entries that are included on this sheet should therefore always be nil. We've added conditional formatting to
the sheet in order to highlight imbalances.
InvValue - this sheet facilitates recording the monthly closing inventory valuations. All inventory purchases should be
recorded on the Expenses sheet and the inventory valuations are used to calculate the monthly cost of sales and gross profit
amounts.
BankRecon - this sheet includes a bank reconciliation that is produced automatically from the transactions that are entered
on the Income and Expenses sheets. User input is limited to selecting the appropriate bank account, entering the appropriate
bank reconciliation date and entering the actual bank statement balance.
CashFlowMonthly - the monthly income statement & cash flow report on this sheet is automatically compiled from the
transactions that are recorded on the Income, Expenses and NonCash sheets. The report includes 12 monthly periods that
are determined based on the Report Start Date that is specified on the Set-up sheet.
CashFlowAnnual - the annual income statement & cash flow report on this sheet is automatically compiled based on the
transactions that are recorded on the Income, Expenses and Non-Cash sheets. The report includes a current and
comparative financial period that is determined based on the Report Start Date and Year End that is specified on the Set-up
sheet. Note that the annual section of the report will always be based on the year end period that is specified. The sheet also
includes a year-to-date and month-to-date income statement & cash flow report which is based on the period that is selected
from the list box in cell H1.
Balance Sheet - this sheet includes a monthly balance sheet that is automatically compiled based on the transactions that
are recorded on the Income, Expenses and Non-Cash sheets. The account groups that are included on the balance sheet
are fixed but you can add as many accounts as required under the main account groups by simply creating the appropriate
accounts on the Accounts sheet.
Page 3 of 36
Instructions
Business Set-up
On
On this
this sheet:
sheet:
The first step in customizing the template for your business is to enter your business details in the input cells from cell C6 to This
This sheet
sheet includes
includes detailed
instructions
C8 on the Set-up sheet. The business name that is entered in cell C6 is included as the heading on all worksheets and the on
on setting
setting up
up and
and using
using this
this template.
template.
sales tax percentage is used to calculate the appropriate sales tax and tax exclusive amounts on the Income and Expenses
sheets.
Note: If the sales tax percentage needs to be amended, you first need to copy the existing sales tax amounts that
have been calculated on the Income and Expenses sheets and paste these cells as values before entering a new
sales tax percentage, otherwise all the sales tax amounts on the Income and Expenses sheets will be calculated
based on the new percentage. By copying the amounts that were previously calculated as values, you will ensure
that only transactions that are recorded after the sales tax percentage is amended are calculated based on the new
sales tax percentage.
Another important point to note regarding the accounting treatment of sales tax is that the template includes two default
sales tax codes: tax code "A" relates to all transactions that are subjected to sales tax and tax code "E" relates to all
transactions that are exempt from sales tax. It is therefore important to select the correct tax code when recording
transactions on the Income and Expenses sheets.
The Template Start Date that is entered in cell C12 on the Set-up sheet is very important because it determines the first
period that will be included in the template calculations. The date that is specified in this input cell also determines the
effective date for which opening balance sheet balances should be entered in column C on the Accounts sheet. We
recommend that you specify the first day of the first financial year that you want to include in the template as the Template
Start Date.
The template does not make provision for entering the opening balances of income and expense accounts. If you are setting
up the template for an existing business, you therefore need to specify the first day of a financial year as the Start Date and
record all transactions for the appropriate financial year on the Income, Expenses and Non-Cash sheets. Note that the
opening balance sheet balances at the end of the previous financial year should be entered on the Accounts sheet before
recording the transactions relating to the current financial year.
The Report Start Date that is entered in cell C14 on the Set-up sheet determines the monthly periods that are included on
the monthly income statement & cash flow report and the monthly balance sheet. The CashFlowMonthly and BalanceSheet
sheets include 12 monthly periods by default - these periods and the calculations that are automatically performed on these
sheets can therefore be amended by simply changing the Report Start Date on the Set-up sheet in order to include a
different 12 month period on these reports.
The next input cell on the Set-up sheet contains a list box that enables users to select the appropriate year end month. The
calendar month that is selected in this cell determines the month part of the financial period that is included on the annual
income statement & cash flow report and therefore the period on which the calculations on this sheet are based. The year
part of the financial period that is included on the CashFlowAnnual sheet is determined by the Report Start Date that is
specified in cell C14 - the financial year that is included in the annual income statement & cash flow report can therefore be
amended by simply changing the Report Start Date.
The bank account codes that are specified in cells A20 to A23 are included in the Bank Code columns on the Income and
Expenses sheets. Each of these codes represents a separate bank or petty cash account. Additional bank codes for
additional bank accounts can be created by simply inserting a new bank code anywhere between the first and last bank
codes, entering a new bank code and entering a description for the new bank account in column B. Note that new bank
account codes also need to be added to the Accounts sheet.
The input error codes at the bottom of the sheet are included for information purposes and provide users with a reason for
the error codes that may be encountered when entering transactions on the Income, Expenses and NonCash sheets. These
error codes are covered in more detail in the Error Codes section of these instructions.
Page 4 of 36
Instructions
Accounts Set-up
On
On this
this sheet:
sheet:
The default accounts list on the Accounts sheet can be customized according to your business requirements. All income This
This sheet
sheet includes
includes detailed
instructions
statement accounts (Profit & Loss accounts) start with "IS", while all balance sheet accounts start with "BS". You can create on
on setting
setting up
up and
and using
using this
this template.
template.
as many accounts as required but it is of utmost importance that all new accounts are created within the main account group
structure.
New accounts can be created on the Accounts sheet by inserting a new row, entering the appropriate account number,
entering an account description and copying the formulas in column E to G from one of the existing rows on the Accounts
sheet. We recommend inserting the new rows in the appropriate position based on the account number - this will negate the
need to sort the account numbers in an ascending order (the list boxes in the Account columns on the Income, Expenses
and NonCash sheets display the account numbers in the same sequence as included on the Accounts sheet).
All new balance sheet accounts must be created under the pre-defined main account groups. The monthly balance sheet is
calculated in accordance with the these account groups and cannot be amended but you can create as many new balance
sheet accounts as required under the pre-defined main account groups. All the transactions that are recorded on the Income,
Expenses and Non-Cash sheets can be filtered based on the Account column and you'll therefore be able to view a complete
list of all the transactions that are included in each individual balance sheet account or balance sheet account group.
Example: If we require separate fixed asset accounts for office furniture and motor vehicles, we can create account BS-101
for office furniture and BS-102 for motor vehicles. Transactions can then be allocated to these accounts and all accounts
under the "BS-100" main account group will be included in the Property, Plant & Equipment row on the monthly balance
sheet report. The transactions that are allocated to each individual account can be reviewed by using the Filter feature on the
Expenses sheet and simply selecting the appropriate account.
The only exception to the main account group rule is the control accounts that are listed at the bottom of the Accounts sheet.
The balances of these control accounts are calculated based on the transactions that are recorded on the Income, Expenses
and NonCash sheets and you will therefore not be able to select these accounts when allocating transactions to accounts.
We have therefore provided separate debtor, creditor and cash account groups that can be used if you need to allocate
transactions to these balance sheet account groups.
Income statement accounts are also grouped into main account groups but are not treated the same as balance sheet
account groups. The template has been designed in order to facilitate reviewing expense accounts (the IS-300 expense
account group) as separate line items on the income statement reports. You can therefore edit the account descriptions of
the default expense accounts and create additional expense accounts (if required) under this main account group in order to
customize the expense accounts that are included as separate line items on the MonthlyCashFlow and AnnualCashFlow
sheets.
Note: If you create additional expense accounts on the Accounts sheet, you will have to insert a new row for each account
that is created on the CashFlowMonthly and CashFlowAnnual sheets. It is imperative that you remember to insert the
appropriate rows because the balance sheet may not be in balance if you allocate transactions to a new expense account
and don't insert the account on the income statement. We have added conditional formatting to the Accounts sheet in order
to highlight accounts that are not included on the income statement reports - if an account number is highlighted in orange, it
means that the account has not been included on the CashFlowMonthly sheet and if an account number is highlighted in
purple, it means that the account has not been included on the CashFlowAnnual sheet.
Note: The descriptions of all the main account groups are fixed - if you change the descriptions of these accounts on the
Accounts sheet, it will have no effect on the descriptions of the main accounts on the income statement and balance sheet.
Only the descriptions of the default expense accounts (IS-300 series) should therefore be amended.
Page 5 of 36
Instructions
When you customize the template for an existing business, you will need to enter the appropriate balance sheet balances as
at the Template Start Date (specified on the Set-up sheet) in column C on the Accounts sheet. As we mentioned before, this On
On this
this sheet:
sheet:
template only accommodates entering opening balances for balance sheet accounts. If you therefore want to start using the This
This sheet
sheet includes
includes detailed
instructions
template during a financial year, you need to specify the first day of the financial year as the Template Start Date, enter the on
on setting
setting up
up and
and using
using this
this template.
template.
balance sheet opening balances as at the Template Start Date on the Accounts sheet and record all the transactions since
the first day of the financial year on the Income, Expenses and NonCash sheets in order to facilitate the calculation of an
accurate income statement for the full financial year.
Example: If the financial year end is February and we want to start using the template in July, we need to specify the
Template Start Date as the 1st of March, enter the balance sheet opening balances as at the 1st of March on the Accounts
sheet and record all the transactions from March to July on the Income, Expenses and NonCash sheets. This approach will
ensure that the annual totals on the income statement are calculated and displayed correctly on the CashFlowAnnual sheet.
If we entered the balance sheet opening balances at the end of June on the Accounts sheet instead, the cash and other
balance sheet balances will be correct but the annual income and expense accounts will not include the income and
expenses for a full financial year.
Note: The opening balances of all asset accounts should be entered as positive values and all liability and equity accounts
should be entered as negative values. The total of all the opening balances that are entered on the Accounts sheet needs to
be nil, otherwise the balance sheet for all subsequent periods will not be in balance.
You'll also notice that the opening balances for the Bank, Trade Debtors and Trade Creditors control accounts cannot be
edited. This is because the subsequent movement in these opening balances will have an effect on the cash flow during the
first financial period that is included in the template. The opening balances of these control accounts should therefore be
entered on the Income or Expenses worksheets and will automatically be included in the opening balances on the Accounts
sheet. The total of all the opening balances should however still equal nil.
The opening balance for each of the bank codes (and the petty cash code) that are included on the Set-up sheet should be
entered on the Income sheet if it is a positive balance and on the Expenses sheet if it is a negative balance (but entered as a
positive value). The month end date of the month that precedes the template start date that is specified on the Set-up sheet
should be entered in the invoice/document date, payment date and statement date columns. This approach will ensure that
the opening bank balances are calculated correctly on the Accounts sheet.
Example: If the opening B1 bank balance is 5,000 and the Template Start Date is 1 March, a transaction needs to be
recorded on the Income sheet with an amount of 5,000, document date, payment date and statement date of 28 February, a
Tax Code of E (no sales tax) and a bank code of B1. This balance will then be automatically included as the opening bank
balance for the B1 bank code on the Accounts sheet. If the opening balance is negative 5,000, then a positive amount of
5,000 should be recorded on the Expenses sheet instead (use the same date principles as we described in the previous
example). The opening B1 bank balance of negative 5,000 will then be included on the Accounts sheet.
The opening Trade Debtors balance should be entered on the Income sheet as a positive amount. You can enter the total in
one row or enter the outstanding invoices individually (we recommend the latter because all outstanding invoices may not be
paid on the same date and the first approach may therefore result in a cash flow discrepancy). The invoice date that is
entered in column B should be before the Template Start Date that is specified on the Set-up sheet and the payment date
that is entered in column I should be the actual payment date (which will obviously be after the Template Start Date because
the invoice is outstanding on the Template Start Date). The statement date that needs to be entered in the Statement Date
column should be the date on which the transaction is reflected on the bank statement (which will also be after the Template
Start Date).
Example: If the opening Trade Debtor balance at 1 March consists of two invoices, enter the actual invoice dates in the
Invoice Date column (the invoices should be dated on or before 28 February). The payment date column can be left blank
until the invoices are paid and the actual date when the payment is received should be entered in the Payment Date column.
The opening Trade Debtor balance will then automatically be calculated and included on the Accounts sheet.
Page 6 of 36
Instructions
The opening Trade Creditors balance should be entered on the Expenses sheet as a positive amount. You can enter the total
in one row or enter the outstanding invoices individually (we recommend the latter because all outstanding invoices may not On
On this
this sheet:
sheet:
be paid on the same date and will probably be paid to different suppliers). The document date that is entered in column A This
This sheet
sheet includes
includes detailed
instructions
should be before the Template Start Date that is specified on the Set-up sheet and the payment date that is entered in on
on setting
setting up
up and
and using
using this
this template.
template.
column I should be the actual payment date (which will obviously be after the Template Start Date because the supplier
invoice is outstanding on the Template Start Date). The statement date that needs to be entered in the Statement Date
column should be the date on which the transaction is reflected on the bank statement (which will also be after the Template
Start Date).
Example: If the opening Trade Creditor balance at 1 March consists of two invoices, enter the actual invoice dates in the
Document Date column (the invoices should be dated on or before 28 February). The payment date column can be left blank
until the invoices are paid and the actual date when the invoices are paid needs to be entered in the Payment Date column.
The opening Trade Creditor balance will then automatically be calculated and included on the Accounts sheet (as a negative
amount because Trade Creditors are liabilities). Note that the statement date that is entered should be the date on which the
payment is reflected on the bank statement.
The opening Inventory valuation should be entered on the InvValue sheet as a positive amount. The month end date that is
used for opening balance purposes should be entered in column A and the appropriate inventory valuation amount should be
entered in column B. The opening balance that is calculated on the Accounts sheet is then automatically looked up on the
InvValue sheet.
You'll notice that the income statement accounts list on the Accounts sheet ends with a "ZZZ" account number. This is not an
actual account, but a row that has been added to the bottom of the account range to indicate the end of a named cell range.
This row should not be deleted and all new accounts should be added above this row. All the accounts above this row are
included in a list box in the Account column on the Income, Expenses and NonCash sheets. By adding all new accounts
above this row, we ensure that all the accounts that are created on the Accounts sheet are included in the Account list boxes.
Note: The accounts that are created on the Accounts sheet are included in the Account list boxes on the Income, Expenses
and NonCash worksheets based on the sequence in which they are included on the Accounts sheet. We therefore
recommend that you sort the accounts in an ascending order after editing any account numbers or creating additional
accounts so that the list boxes include the accounts in the correct sequence. The control accounts at the bottom of the sheet
should be omitted from the sorting operation (only sort up to the ZZZ row). The same principle applies to the data on the
Customers sheet.
Trial Balance
A detailed trial balance per account is included on the Accounts sheet in column E to G. All the account balances that are
included in the trial balance are automatically calculated based on the transactions that are entered on the Income,
Expenses and NonCash sheets and the inventory valuation that is recorded on the InvValue sheet.
The opening balances in column E are calculated based on the Report Start Date that is specified on the Set-up sheet and
the closing balances in column G are calculated based on the month that is selected from the list box in cell G3. This list box
includes a twelve month reporting period starting from the Report Start Date that is specified on the Set-up sheet. Column F
contains a calculation of the movement per account for the date range that is included in the trail balance.
The monthly periods that are included in the list box in cell G3 are the same as the monthly periods that are included on the
monthly income statement, cash flow and balance sheet reports. You are therefore able to view a trial balance for any of the
monthly periods by simply selecting the appropriate month end date from the list box.
A trail balance for previous periods can also be viewed by simply changing the Report Start Date on the Set-up sheet and
then selecting the appropriate period from the list box in cell G3 on the Accounts sheet. Note that when you change the
Report Start Date, the monthly periods that are included on the income statement, cash flow report and balance sheet are
also amended but that you can switch back to the current accounting period by simply changing the Report Start Date back
to the appropriate date.
Page 7 of 36
Instructions
Note: When you roll the trial balance forward to include a subsequent 12 month period by entering a new Report Start Date
on the Set-up sheet, the period in cell G3 on the Accounts sheet may be dated before the new opening balance period. This On
On this
this sheet:
sheet:
date discrepancy can be corrected by simply selecting a new period from the list box in cell G3 - you'll also notice that cell G3 This
This sheet
sheet includes
includes detailed
instructions
will be highlighted in orange if a date discrepancy exists. on
on setting
setting up
up and
and using
using this
this template.
template.
New bank accounts
The template includes 3 default bank accounts (B1 to B3) and a petty cash account (PC). You can add additional bank
accounts by inserting the appropriate number of rows anywhere between the first bank code (B1) and the petty cash code
(PC) on the Set-up sheet, entering a new bank code in column A and entering a description for the bank account in column
B.
After adding the new bank codes to the Set-up sheet, you also need to insert the appropriate number of new rows on the
Accounts sheet anywhere between the first bank account and the petty cash code and copy the formulas in column A to G
from one of the existing rows. This will ensure that the new bank accounts are included in all the trial balance calculations on
the Accounts sheet.
Note: The default bank codes for the three bank accounts can be amended but the petty cash code (PC) must be retained.
We strongly recommend using bank codes that consist of one letter and a number as per the default bank account codes.
Recording Transactions - Income
Note: We have included transaction examples on the Income, Expenses and NonCash sheets in order to illustrate the format
in which transactions should be recorded on these worksheets. You therefore need to replace these sample transactions
before recording your own transactions but be careful: you should only replace the data in the columns with a yellow column
heading. The columns with a light blue column heading contain formulas that should be copied to all the new rows of data
that are entered on each of these sheets. DO NOT replace or delete any of these formulas, otherwise you will have to
download the template again in order to revert back to the formulas that should be included in these cells!
All income and cash receipts that are received into the bank account should be recorded on the Income sheet. This
worksheet functions like the receipt side of a cashbook, but can also be used to perform analytical review of income
transactions by using the Filter feature (this feature is enabled by default).
All the column headings contain a filter selection arrow - this feature indicates that a Filter has been applied to the worksheet.
This Excel feature is very useful when you need to filter the data on the worksheet based on one of the filter criteria that are
available after clicking the selection arrow. The Filter feature can also be used to sort data based on a single column and
includes a "Custom" filter option which enables you to specify a custom filter that needs to be applied to the data on the
worksheet.
Example: If you only want to display the income transactions for a particular month, you can filter the data based on the
Invoice Date or Payment Date column by specifying filter criteria that includes all transaction dates greater than or equal to
the 1st day of the month and less than or equal to the last day of the month. After reviewing the filtered data, simply select
the "All" option in the filtered column in order to remove the filter and to display all the transactions on the worksheet.
As we've mentioned before, some column headings are formatted with a yellow cell background, while other column
headings are formatted with a light blue cell background. The columns with a yellow cell background require user input and
the columns with a light blue cell background contain formulas that should be copied for all new transactions that are entered
on the sheet. This is very important template attribute because the accuracy of all the reports is dependent on recording
transactions correctly. After entering the required data in all the yellow columns, please therefore make absolutely sure that
the formulas in the light blue columns have been copied to all the new transactions that have been added to the sheet.
Page 8 of 36
Instructions
You'll notice that there are totals that are included in the cells above all the amount columns (formatted in italic). These cells
contain a Subtotal function which results in all filtered records being included in the total that is calculated. This means that On
On this
this sheet:
sheet:
after filtering data, only the transactions that are displayed on the worksheet are included in the calculation (column total). If This
This sheet
sheet includes
includes detailed
instructions
you therefore print the sheet while a filter is in effect, the totals above the column headings will be calculated accurately and on
on setting
setting up
up and
and using
using this
this template.
template.
only include the transactions that have been printed.
Note: All the transactions that are recorded on the Income sheet need to be entered in a continuous cell range otherwise
some transactions may not be included in the template calculations. You should therefore not insert any blank rows between
the rows that contain data.
The following section provides detailed guidance on the user input that is required on the Income sheet:
Invoice Number - enter your invoice number or the appropriate transaction reference for cash receipt transactions.
Invoice Date - enter the date of the tax invoice or the bank statement date for cash receipt transactions. We've added data
validation to this column to ensure that only valid dates are entered - you therefore need to ensure that you enter dates in
accordance with the regional date settings that are specified in the System Control Panel.
Customer - enter the customer name or copy the customer code into this column. If the Auto Complete feature is enabled,
you should be able to accept its suggestion of the customer name after entering only a few characters. Note that it is
important to enter customer names accurately if you want to use the Filter feature to display only the transactions for a
particular customer. If you are using the Trade Based Invoice template or one of the Inventory templates, you can copy the
customer code that is used in the other template into this column. An analysis of sales by customer can then be performed
by using the Invoice or Inventory template.
Description - enter a transaction description or copy a stock code into this column. If you are using the Invoice template or
one of the Inventory templates, we recommend that you copy the stock code into this column, otherwise you should enter a
description for the invoice or other receipt into this column.
Tax Inclusive Amount - enter the transaction amount inclusive of sales tax. Income and receipts should be entered as
positive amounts but if you have an expense or payment type transaction that is of an income or receipt nature, the
transaction can be entered as a negative value. For example, entering a credit note that relates to an invoice that has been
recorded previously. In most instances, expenses should however be recorded on the Expenses sheet.
Tax Code - this column contains a list box that enables you to select one of two tax codes. Select the "A" tax code for all
transactions that are subject to sales tax and the "E" tax code for all exempt transactions. If your business is not registered
for sales tax purposes, all transactions should be recorded by using the "E" tax code.
Bank Code - this column contains a list box that includes all the bank codes that have been added to the Set-up sheet.
Select the bank code of the bank account that will be affected by the particular transaction. Note that it is imperative that a
bank code is assigned to each transaction.
Account - the list box in this column contains all the accounts (and their descriptions) that have been created on the
Accounts sheet. You therefore need to create the appropriate account on the Accounts sheet before transactions can be
allocated to the account. Note that you should be careful when deleting accounts from the Accounts sheet because this
could cause an imbalance in the template if transactions have been allocated to an account that has subsequently been
deleted.
Payment Date - enter the actual payment date in this column. The date that should be entered in this column should be the
date on which the payment was received from the customer. The payment date should be left blank if payment has not been
received from the customer - the outstanding amount will then be included in Trade Debtors. Note that the payment date
should always be greater than or equal to the invoice date.
Statement Date - enter the date on which the transaction is reflected on the bank statement in this column. The statement
date should be left blank if the payment has not yet been reflected on the bank statement - the outstanding amount will then
form part of the Outstanding Deposits total on the bank reconciliation. Note that the statement date should always be greater
than or equal to the payment date.
Exclusive Amount - the formula in this column basically deducts the sales tax amount from the inclusive amount in order to
calculate an amount excluding sales tax. For accounting purposes, the exclusive amounts are allocated to the income
statement, the sales tax amounts are allocated to the sales tax control account and the inclusive amounts are allocated to
trade debtors or bank (depending on whether the amounts have been paid or not).
Tax Amount - this column contains a formula which calculates the sales tax amount based on the tax code that has been
selected in column F. Sales tax will only be calculated if the sales tax code in column F is "A". The calculation is based on the
sales tax percentage that is specified on the Set-up sheet. If this percentage needs to be amended, you first have to copy all
the existing sales tax calculations in this column and paste the data as values. This will ensure that all the sales tax amounts
that are dated before the rate amendment are still calculated based on the previous sales tax percentage. When you then
amend the sales tax percentage, all transactions that are subsequently entered are based on the new percentage.
Page 9 of 36
Instructions
Inclusive Amount - the formula in this column rounds the tax inclusive amount that is entered in column E to 2 decimals.
The amounts in both of these columns will therefore appear to be exactly the same. On
On this
this sheet:
sheet:
Error Code - this column will contain an error code if there is a problem with the input in any of the previous columns. All the This
This sheet
sheet includes
includes detailed
instructions
error codes that are displayed in this column should therefore be corrected in order to ensure that all the template on
on setting
setting up
up and
and using
using this
this template.
template.
calculations remain accurate. Refer to the Error Codes section of these instructions for more information about the reasons
for an error code and how to resolve it.
Note: The list box in the Account column contains both the account number and the account description, but only the
appropriate account number should be selected when allocating transactions. Excel actually does not allow the inclusion of
two columns in a list box, but we have implemented a work around in order to provide the account description together with
the account number. However, because of the implementation of this feature, you will not be able to enter the account
number into the Account column and all account numbers should therefore be selected from the list box or copied from an
existing similar transaction.
The transactions that are entered on the Income sheet are automatically updated to the trial balance, bank reconciliation,
income statement, cash flow report and balance sheet. It is therefore imperative that all transactions are entered according to
the guidance that is outlined in this section of the instructions, otherwise it could result in imbalances in the template. We
also recommend that you make absolutely 100% sure that the formulas in the light blue columns are copied to all the rows
on this sheet that contain data because it is one of the most common causes of an imbalance in the template.
Recording Transactions - Expenses
All expenses, stock purchases and other payments that are processed through any of the bank or petty cash accounts
should be recorded on the Expenses sheet. This worksheet functions like the payment side of a cashbook, but can also be
used to perform an analytical review of expense transactions by using the Filter feature.
This Excel feature is very useful when you need to filter the data on the worksheet based on one of the filter criteria that are
includes a "Custom" filter option which enables you to specify a custom filter that needs to be applied to the data on the
worksheet.
Example: If you only want to display the expense transactions for a particular month, you can filter the data based on the
Document Date or Payment Date column by specifying filter criteria which includes all transaction dates greater than or equal
to the 1st day of the month and less than or equal to the last day of the month. After reviewing the filtered data, simply select
the "All" option in the filtered column in order to remove the filter and to display all the transactions on the worksheet.
the columns with a light blue cell background contain formulas that should be copied for all new rows of data that are entered
on the sheet. This is very important template attribute because the accuracy of all the reports is dependent on recording
transactions correctly. After entering the required data in all the yellow columns, please therefore make absolutely sure that
the formulas in the light blue columns have been copied to all the new rows that have been added to the sheet.
You'll notice that there are totals that are included in the cells above all the amount columns (formatted in italic). These cells
contain a Subtotal function which results in all filtered records being included in the total that is calculated. This means that
after filtering data, only the transactions that are displayed on the worksheet are included in the calculation (column total). If
you therefore print the sheet while a filter is in effect, the totals above the column headings will be calculated accurately and
only include the transactions that have been printed.
Note: All the transactions that are recorded on the Expenses sheet need to be entered in a continuous cell range otherwise
Page 10 of 36
Instructions
The following section provides detailed guidance on the user input that is required on the Expenses sheet:
Document Date - enter the date of the supplier invoice or the bank statement date for cash payment transactions. We've On
On this
this sheet:
sheet:
added data validation to this column to ensure that only valid dates are entered - you therefore need to ensure that you enter This
This sheet
sheet includes
includes detailed
instructions
dates in accordance with the regional date settings that are specified in the System Control Panel. on
on setting
setting up
up and
and using
using this
this template.
template.
Supplier - enter the name of the supplier. If the Auto Complete feature is enabled, you should be able to accept its
suggestion of the supplier name after entering only a few characters. Note that it is important to enter supplier names
accurately if you want to use the Auto Filter feature to display only the transactions for a specific supplier.
Reference - enter a reference for the transaction in this column. For example, this could be the supplier invoice number or a
more general reference like "Debit Order" or "Bank Statement".
Description - enter a transaction description in this column.
Tax Inclusive Amount - enter the transaction amount inclusive of sales tax. Expenses and payments should be entered as
positive amounts but if you have an income or receipt type transaction that is of an expense or payment nature, the
transaction amount can be entered as a negative value. For example, entering a credit that has been received from a
supplier and relates to a supplier invoice that has been recorded previously. In most instances, income should however be
recorded on the Income sheet.
Tax Code - this column contains a list box that enables you to select one of two tax codes. Select the "A" tax code for all
transactions that are subject to sales tax and the "E" tax code for all exempt transactions. If your business is not registered
for sales tax purposes, all transactions should be recorded by using the "E" tax code.
Bank Code - this column contains a list box that includes all the bank codes that have been added to the Set-up sheet.
Select the bank code of the bank account that will be affected by the particular transaction. Note that it is imperative that a
bank code is assigned to each transaction.
deleted.
Payment Date - enter the actual payment date in this column. The date that should be entered in this column should be the
date on which the payment is made to the supplier. The payment date should be left blank if payment has not been made to
the supplier - the outstanding amount will then be included in Trade Creditors. Note that the payment date should always be
greater than or equal to the document date.
Statement Date - enter the date on which the transaction is reflected on the bank statement in this column. The statement
date should be left blank if the payment has not yet been reflected on the bank statement - the outstanding amount will then
form part of the Outstanding Withdrawals total on the bank reconciliation. Note that the statement date should always be
greater than or equal to the payment date.
Exclusive Amount - the formula in this column basically deducts the sales tax amount from the inclusive amount in order to
calculate an amount excluding sales tax. For accounting purposes, the exclusive amounts are allocated to the income
statement, the sales tax amounts are allocated to the sales tax control account and the inclusive amounts are allocated to
trade creditors or bank (depending on whether the amounts have been paid or not).
Tax Amount - this column contains a formula that calculates the sales tax amount based on the tax code that has been
selected in column F. Sales tax is only calculated if the sales tax code in column F is "A". The calculation is based on the
sales tax percentage that is specified on the Set-up sheet. If this percentage needs to be amended, you first have to copy all
the existing sales tax calculations in this column and paste the data as values. This will ensure that all the sales tax amounts
that are dated before the rate amendment are still calculated based on the previous sales tax percentage. When you then
amend the sales tax percentage, all transactions that are subsequently entered are based on the new percentage.
Inclusive Amount - the formula in this column rounds the tax inclusive amount that is entered in column E to 2 decimals.
The amounts in both of these columns will therefore appear to be exactly the same.
Error Code - this column will contain an error code if there is a problem with the input in any of the previous columns. All the
error codes that are displayed in this column should therefore be corrected in order to ensure that all the template
calculations remain accurate. Refer to the Error Codes section of these instructions for more information about the reasons
for an error code and how to resolve it.
Page 11 of 36
Instructions
appropriate account number should be selected when allocating transactions. Excel actually does not allow the inclusion of On
On this
this sheet:
sheet:
two columns in a list box, but we have implemented a work around in order to provide the account description together with This
This sheet
sheet includes
includes detailed
instructions
the account number. However, because of the implementation of this feature, you will not be able to enter the account on
on setting
setting up
up and
and using
using this
this template.
template.
The transactions that are entered on the Expenses sheet are automatically updated to the trial balance, bank reconciliation,
income statement, cash flow report and balance sheet. It is therefore imperative that all transactions are entered according to
the guidance that is outlined in this section of the instructions, otherwise it could result in imbalances in the template. We
also recommend that you make absolutely 100% sure that the formulas in the light blue columns are copied to all the rows
that contain data because it is one of the most common causes of an imbalance in the template.
Recording Non-Cash Transactions
The Income and Expenses sheets facilitate the recording of all transactions of a cash (or bank account) nature. There is
however also a requirement to include non-cash transactions in business accounts and this functionality has been provided
for on the NonCash sheet.
Examples of these types of entries are depreciation, income & expenses funded through a loan account, accruals and
provisions. Most of these entries are usually recorded by processing general ledger journals and this is exactly what the
NonCash sheet facilitates.
This Excel feature is very useful when you need to filter the data on a worksheet based on one of the filter criteria that are
includes a "Custom" filter option which enables you to specify a custom filter that needs to be applied to the data on a
worksheet.
Example: If you only want to display the non-cash transactions for a particular month, you can filter the data based on the
Document Date column by specifying filter criteria which includes all transaction dates greater than or equal to the 1st day of
the particular month and less than or equal to the last day of the month. After reviewing the filtered data, simply select the
"All" option in the filtered column in order to remove the filter and to display all the transactions on the worksheet.
the columns with a light blue cell background contain formulas that should be copied for all new transactions that are entered
on the sheet. The NonCash sheet includes only one column containing a formula and it is therefore the only column that
needs to be copied when entering new transactions.
You'll notice that there is a total that is included in the cell above the Amount column (formatted in italic). This cell contains a
Subtotal function which results in all filtered records being included in the total that is calculated. This means that after
filtering data, only the transactions that are displayed on the worksheet are included in the calculation (column total). If you
therefore print the sheet while a filter is in effect, the total above the column heading will be calculated accurately and only
include the transactions that have been printed.
Note: All the transactions that are recorded on the NonCash sheet need to be entered in a continuous cell range otherwise
The NonCash sheet transactions are not processed through a control account like Bank, Trade Debtors or Trade Creditors.
This sheet should therefore not be treated in the same way as the Income and Expenses sheets. In fact, you are required to
record both the debit and credit journal entries and the total of all the entries in the Amount column on this sheet should
therefore always be nil.
Page 12 of 36
Instructions
In this context, a positive amount refers to a debit entry which results in an increase in expenses or assets and a
decrease in income or liabilities, while a negative amount refers to a credit entry which results in an increase in On
On this
this sheet:
sheet:
revenue or liabilities and a decrease in expenses or assets. The important point to note is that you need to record a This
This sheet
sheet includes
includes detailed
instructions
debit and a credit entry for each non-cash transaction that is recorded on this sheet and that the total of all the on
on setting
setting up
up and
and using
using this
this template.
template.
individual journal entries should therefore always be nil.
Example: If we want to record a non-cash transaction for depreciation, a positive amount of (say) 5,000 needs to be entered
in the Amount column and allocated to the appropriate depreciation expense account, while a negative amount of 5,000
needs to be entered in the next row and allocated to the accumulated depreciation account. The total of the debit and credit
entries in the Amount column is therefore nil. On the income statement, the depreciation expense is increased by 5,000,
while the accumulated depreciation account which is included in the Property, Plant & Equipment account group on the
balance sheet is also increased by the same amount (resulting in a decrease in the Property, Plant & Equipment line item on
the balance sheet).
In order to provide an additional control to ensure that the total of all the entries on this sheet is always nil, we have
included a test formula with conditional formatting in cell F3. This cell displays a green "ok" message if the total of
all the entries on the sheet is nil and displays an orange "error" message if the total of all the entries on the sheet
does not equal nil. You therefore need to ensure that this cell always contains an "ok" text message, otherwise an
imbalance may be encountered on your balance sheet!
The following section provides detailed guidance on the user input that is required on the NonCash sheet:
Document Date - enter the transaction date of the non-cash transaction. The date that is entered in this column determines
in which period the transaction is included in the income statement, cash flow report and balance sheet. We have added data
validation to ensure that only valid dates are accepted. You therefore need to ensure that all dates are entered in accordance
with the regional date settings that are specified in your System Control Panel.
Transaction Reference - enter a reference for the non-cash transaction in this column.
Description - enter a transaction description into this column.
deleted.
Amount - enter the transaction amount. As we mentioned before, a positive amount represents a debit entry and a negative
amount represents a credit entry. The total of all the debit and credit entries that relate to a particular non-cash transaction
should always be nil. A non-cash transaction can consist of multiple debit and credit entries (usually a minimum of two rows
which include at least one debit and one credit amount) but there is no limit on the number of entries that can be included in
one non-cash transaction as long as the total of all the entries equals nil.
Error Code - this column contains a formula that needs to be copied for each new transaction that is added to the sheet. An
error code will be displayed if there is a problem with the input in any of the previous columns. All the error codes that are
displayed in this column should therefore be corrected in order to ensure that all the template calculations remain accurate.
Refer to the Error Codes section of these instructions for more information about the reasons for an error code and how to
resolve it.
appropriate account number should be selected when allocating transactions. Excel actually does not allow the inclusion of
two columns in a list box, but we have implemented a work around in order to provide the account description together with
the account number. However, because of the implementation of this feature, you will not be able to enter the account
The transactions that are entered on the Non-Cash sheet are automatically updated to the income statement, cash flow
report and balance sheet. It is therefore imperative that all transactions are entered according to the guidance that is outlined
in this section of the instructions, otherwise it could result in imbalances in the template.
Note: You also need to ensure that the document date of each entry which forms part of a non-cash transaction is
the same as the document dates of all the other entries. If you enter a debit and a credit entry which totals nil but the
document dates fall into different reporting periods, you may encounter an imbalance on the balance sheet as a
result of the two entries being included in two different reporting periods.
Page 13 of 36
Instructions
Recording Transactions - Transfers between Bank Accounts

On
On this
this sheet:
sheet:
This
This sheet
sheet includes
includes detailed
instructions
When funds are transferred between two bank accounts, both the deposit and withdrawal entries need to be recorded. We on
recommend recording both entries on the Expenses sheet. The deposit entry should be recorded by selecting the bank on setting
setting up
up and
and using
using this
this template.
template.
account into which the funds are transferred and entering the transfer amount as a negative value (use a tax code of "E").
The withdrawal entry should be recorded by selecting the bank account from which the funds are transferred and entering a
positive amount (also use a tax code of "E").
All transfers between bank accounts should be allocated to the Cash Transfer Control account (BS-399). By using this
default account for all bank transfers, you can therefore easily determine when only one of the entries (deposit or withdrawal)
has been recorded.
Note: You can check whether the balance of the Cash Transfer Control account is nil by selecting the appropriate month end
from the list box in cell G3 on the Accounts sheet and checking whether the balance for account BS-399 is nil. If the balance
is not nil, the transactions for the appropriate period should be reviewed in order to determine why the allocations to the
Cash Transfer Control account do not result in a nil balance.
Note: Petty cash transactions should be treated in the same way as transactions that are processed through a bank account.
This means that petty cash reimbursements should also be treated as transfers between bank accounts and allocated to the
Cash Transfer Control account. Both the withdrawal out of the appropriate bank account and the "deposit" of cash into the
petty cash account should therefore be recorded.
Error Codes
The following error codes may result from inaccurate input on the Income, Expenses and NonCash sheets and will be
displayed in the Error Code columns. The heading of the affected input column will also be highlighted in orange:
E1 - this error code means that the payment date that has been entered in column I on the Income or Expenses sheet is
before the invoice or document date. These errors can be rectified by either amending the appropriate invoice or document
date or amending the appropriate payment date.
E2 - this error code means that the statement date that has been entered in column J on the Income or Expenses sheet is
before the payment date or that a statement date has been entered while the payment date has been left blank. These errors
can be rectified by either amending the appropriate payment date or amending the appropriate statement date.
E3 - this error code means that the account number that has been selected in column H on the Income or Expenses sheet
or column D on the NonCash sheet is invalid. All the accounts that have been entered on the Accounts sheet will be included
in the list boxes in the Account columns and the error can therefore be rectified by simply selecting a valid account number
from the appropriate list box. New accounts must be created on the Accounts sheet before being available for selection.
E4 - this error code means that the bank account code that has been selected in column G is invalid. All the bank account
codes that have been created on the Set-up sheet will be included in the list boxes in column G and the error can therefore
be rectified by simply selecting a valid bank account code from the list box. New bank account codes must be created on the
Set-up sheet before being available for selection.
Note: Input errors may result in inaccurate template calculations and it is therefore imperative that all errors are resolved
before reviewing the income statement, cash flow report and balance sheet. These errors may in fact also cause the balance
sheet not to balance.
Inventory Valuation
In order to calculate the monthly cost of sales amounts and gross profits, you need to record an inventory valuation at the
end of each month. Monthly inventory valuations should be recorded on the InvValue sheet by entering the appropriate
month end date in column A and the valuation amount in column B.
Page 14 of 36
Instructions
The inventory valuations that are recorded on the InvValue sheet are automatically updated on the monthly income
On
On this
this sheet:
sheet:
statement, balance sheet and trial balance. The valuation amounts can be calculated by using one of our Inventory
templates or you can perform your own independent calculation of the estimated inventory value at the end of each month.
This
This sheet
sheet includes
includes detailed
instructions
on
on setting
setting up
up and
and using
using this
this template.
template.
Note: The dates that are entered in column A should be month end dates. If you enter any other date, the inventory
valuation will not be included on the monthly income statement, balance sheet and trial balance. We have therefore
added conditional formatting in column A in order to highlight all invalid month end dates in orange.
The first inventory valuation that should be entered on the InvValue sheet should be the inventory valuation at the end of the
month that precedes the Template Start Date that is specified on the Set-up sheet and a valuation amount should be entered
for every month end date that follows this date.
Note: The default date range on the InvValue sheet can simply be replaced by the appropriate inventory valuation dates
when you customize the template for your business. We recommend that you enter the first two month end dates in cells A5
and A6, select both cells and then drag the fill handle in the bottom right corner of the cursor downwards in order to fill the
cells from cell A7 with the subsequent month end dates.
Bank Reconciliation
The bank reconciliation that is included on the BankRecon sheet is automatically calculated based on the transactions that
are entered on the Income and Expenses sheets, the bank account code that is selected from the list box in cell B4 and the
reconciliation date that is specified by the user in cell B6 on the BankRecon sheet. The opening and closing cashbook
balances are calculated based on the payment dates that are entered on the Income and Expenses sheets and the
calculated bank statement balances are determined based on the dates that are entered in the statement date columns.
The only user input that is required on the BankRecon sheet is selecting the appropriate bank code in cell B4, entering the
reconciliation date in cell B6 and entering the actual bank statement balance in cell B26. Note that the bank reconciliation is
performed on an individual bank account basis and you therefore need to select the appropriate bank code in order to review
the bank reconciliation for the selected bank account.
The opening balances on the bank reconciliation are calculated based on the month end date that precedes the
reconciliation date that is specified in cell B6. The cashbook balance includes all the transactions on the Income and
Expenses sheets with payment dates on or before the previous month end date and should agree to the appropriate bank
balance on the trial balance at the end of the month that precedes the reconciliation date. The calculated bank statement
balance includes all transactions on the Income and Expenses sheets with statement dates on or before the previous month
end date.
Note: When comparing bank balances to the balances on the trial balance, you must make sure that the correct month end
date has been selected from the list box in cell G3 on the Accounts sheet otherwise you may be comparing the bank
reconciliation to the bank balance at the end of the wrong period.
The outstanding deposits total includes all transactions on the Income sheet with payment dates that are before the previous
month end date and statement dates that are after this date or blank. Similarly, the outstanding withdrawals total includes all
transactions on the Expenses sheet with payment dates that are before the previous month end date and statement dates
that are after this date or blank. Note that blank statement dates indicate that the transactions have not been reflected on the
bank statement.
The total withdrawals for the current month includes all transactions on the Expenses sheet with payment dates that fall
between the first day of the month and the reconciliation date that is specified in cell B6. Similarly, the total deposits for the
current month includes all transactions on the Income sheet with payment dates that fall between the first day of the month
and the reconciliation date that is specified in cell B6. Note that both of these amounts are calculated regardless of whether a
statement date has been entered for the particular transaction.
Page 15 of 36
Instructions
Also note that transactions dated (in the Payment Date columns on the Income and Expenses sheets) after the reconciliation
date are not included in the calculations on the BankRecon sheet. The Cashbook Closing Balance therefore includes all the On
On this
this sheet:
sheet:
transactions on the Income and Expenses sheets with a payment date that is on or before the reconciliation date that is This
This sheet
sheet includes
includes detailed
instructions
specified in cell B6. If the reconciliation date is a month end date, the cashbook balance should agree to the appropriate on
on setting
setting up
up and
and using
using this
this template.
template.
bank balance on the trial balance for the particular month.
The outstanding deposits total under the Closing Balances section includes all transactions on the Income sheet with
payment dates that are on or before the reconciliation date and statement dates that are after this date or blank. Similarly,
the outstanding withdrawals total includes all transactions on the Expenses sheet with payment dates that are on or before
the reconciliation date and statement dates that are after this date or blank.
The Calculated Bank Statement Balance is arrived at by deducting the outstanding deposits total from the Cashbook Closing
Balance and adding the outstanding withdrawals to this balance. The calculation therefore reflects the cashbook balance
before taking the entries that are not reflected on the bank statement into account. This amount should therefore agree to the
actual bank statement balance on the reconciliation date.
The Actual Bank Statement Balance on the reconciliation date should be entered in cell B26 and cell B28 reflects the
difference between the calculated and actual bank statement balances. Cell C28 will contain a green "ok" message if the two
balances are equal and an orange "error" message if the balances are not equal.
If an error message is displayed, it means that the entries on the actual bank statement and the transactions that
were recorded on the Income and Expenses sheets do not reconcile. There could be a number of explanations for
an error being encountered:
An entry that is included on the Income or Expenses sheet does not appear on the bank statement but a statement date
has been entered for the particular entry.
An entry that is included on the Income or Expenses sheet appears on the bank statement but a statement date has not
been entered for the particular entry.
The statement date that has been entered on the Income or Expenses sheet is incorrect.
An entry that appears on the bank statement has not been recorded on the Income or Expenses sheet.
The transaction amount on the actual bank statement does not agree to the transaction amount that has been entered on
the Income or Expenses sheet.
An incorrect bank code may have been assigned to a transaction on the Income or Expenses sheet.
As you can see, there are a number of reasons why an unexplained difference can be encountered after performing a bank
reconciliation. It is therefore absolutely essential that you take care while entering the transaction amounts, payment dates
and statement dates on the Income and Expenses sheets in order to ensure that all cashbook and bank statement balances
are calculated accurately. It could be quite a time consuming exercise to find the reason for an unexplained difference on a
bank reconciliation.
Fortunately, we have designed this template in such a way that it should be reasonably easy to find an explanation
for any unexplained differences that may be encountered! When you encounter an unexplained difference between
the calculated and actual bank statement balances, we recommend that you complete the following steps in order to
find an explanation for the difference:
Identify the first date on which there is a difference between the calculated and actual bank statement balances - this can
be accomplished by changing the reconciliation date in cell B6 and comparing the calculated bank statement balance to the
actual bank statement balance for each day in the particular month.
We recommend that you start with the first day of the particular month and enter all subsequent dates (and actual bank
statement balances at the end of each day) until you find a difference between the calculated and actual bank statement
balances.
We also recommend that you sort the transactions on the Income and Expenses sheets in ascending order according to
the Statement Date column in order to simplify the completion of this exercise.
Page 16 of 36
Instructions
Review the dates that have been entered in the Statement Date column on the Income and Expenses sheets for all days
where an unexplained difference exists and ensure that the amounts on these sheets and the actual bank statement agree, On
On this
this sheet:
sheet:
the statement dates have been entered accurately in the Statement Date column, all entries on the actual bank statement This
This sheet
sheet includes
includes detailed
instructions
have been included on either the Income or Expenses sheet and a statement date has been entered on the Income or on
on setting
setting up
up and
and using
using this
this template.
template.
Expenses sheet for all the entries on the actual bank statement. Also ensure that all deposits are recorded on the Income
sheet, all withdrawals are recorded on the Expenses sheet and that the correct bank code has been assigned to each
transaction.
This procedure should enable you to correct all the errors that have been made while recording the transactions that form
part of the bank reconciliation.
Monthly Income Statement & Cash Flow Report
The CashFlowMonthly sheet includes a detailed monthly income statement and a monthly cash flow report. The income
statement is automatically calculated based on the exclusive amounts that are recorded on the Income, Expenses and Non-
Cash sheets and allocated to the appropriate income statement accounts. Cost of sales amounts are automatically
calculated from the stock purchases that are entered on the Expenses sheet and the inventory valuations that are entered on
the InvValue sheet. The only user input that is required on the monthly income statement is including additional expense
accounts on the report if additional accounts have been created.
The report is extended beyond the Net Profit line to also include a monthly cash flow analysis which is also based on the
transactions on the same sheets and incorporates the payment period that is specified for each transaction. The balance
sheet account movements are calculated from the monthly balance sheet.
The CashFlowMonthly sheet includes 12 monthly periods that are determined based on the Report Start Date that is entered
on the Set-up sheet. You can therefore change the 12 month period that is included on the income statement by simply
entering a new Report Start Date on the Set-up sheet. Note that this will also change the periods that are included on the
monthly balance sheet because the income statement and balance sheet reports are compiled based on the same date
range.
The monthly income statement has been designed in a pre-defined format but does provide for some user customization.
The expense accounts that are included in the "IS-300" account range are displayed individually on the report to facilitate
performing a monthly analytical review of these expense account line items. By default, 19 individual expense accounts are
included in this account range but additional accounts up to a maximum of 100 expense accounts can be added if required.
All additional expense accounts should be created on the Accounts sheet before manually inserting the appropriate number
of rows in the Expenses section of the income statement. We recommend that you insert individual rows by positioning the
cursor below the row where the account needs to be inserted (based on the existing account number sequence) and then
using the Insert Rows Excel feature to insert an empty row.
After inserting a new row, enter the account number in column A and simply copy all the formulas in the other columns from
one of the existing expense account rows. If you have not inserted the accounts based on the existing account number
sequence, you can select all the cells in the Expense account section (excluding the Total row) and sort the cells based on
the account numbers in column A.
Note: It is absolutely essential that all expense accounts that are added to the Accounts sheet are included in the
monthly income statement, otherwise the expense entries that relate to some transactions may not be included in
the report, the calculated cash balance at the end of the month may therefore be inaccurate and the balance sheet
may reflect errors because of an imbalance. If you are in any doubt as to whether all expense accounts have been
included in the monthly income statement, refer to the Accounts sheet - we have implemented conditional
formatting in the account number column which highlights the accounts that are not included on the monthly
income statement in orange and the accounts that are not included in the annual income statement in purple.
Page 17 of 36
Instructions
All the other lines on the monthly income statement and cash flow report are calculated based on pre-defined line items
(account groups) and can therefore not be customized. You will not be able to insert additional rows on the report in order to On
On this
this sheet:
sheet:
display more detailed information. If you need to analyse individual account balances, we recommend applying the Filter This
This sheet
sheet includes
includes detailed
instructions
feature to the Income, Expenses and Non-Cash sheets. on
on setting
setting up
up and
and using
using this
this template.
template.
Note: The cash balance at the end of each monthly period as calculated in the last row on the CashFlowMonthly sheet
should equal the sum of all the bank account balances (excluding the petty cash account) if all transactions have been
recorded correctly and should agree to the Bank line on the balance sheet. The petty cash account is included separately on
the balance sheet and the monthly cash movement in the petty cash balance is included under the "Changes in Working
Capital" section on the abbreviated cash flow report.
Annual Income Statement & Cash Flow Report
The annual income statement and cash flow report on the CashFlowAnnual sheet provides a summary of the income
statement and cash flow report on an annual, year-to-date and monthly basis based on the Year End that is specified on the
Set-up sheet. The report also includes an income statement and cash flow report for the previous (comparative) year. The
current and comparative year portion of the year end dates are determined based on the Report Start Date that is also
specified on the Set-up sheet.
Example: If the Report Start Date is specified as 2011/03/01 and a Year End month of February is selected, the current
financial year that will be included on the annual income statement will be Feb-2012 and the comparative financial year will
be Feb-2011. If a Year End month of June is however selected and the Report Start Date is the same, the current financial
year will be Jun-2011 and the comparative financial year will be Jun-2010. The financial periods that are included on the
annual income statement are therefore always determined based on the financial year that the Report Start Date falls into.
Note: As discussed under the Monthly Income Statement section, the Expenses section of the report can be
customized to include additional accounts. All additional accounts should also be manually inserted on the annual
income statement by inserting a new row for each individual account, entering the appropriate account number in
column A and copying the formulas in the other columns from one of the existing rows in the Expenses section (for
the Annual, Year-to-Date and Monthly columns of the report).
The periods that are included in the Year-to-Date and Monthly columns are determined based on the calendar month that is
selected from the list box in cell H1. The appropriate financial years that the selected calendar month falls into are
determined based on the Report Start Date that is specified on the Set-up sheet.
Example: If the Report Start Date is specified as 2011/06/01, the Year End is specified as June (on the Set-up sheet) and the
June calendar month is selected from the list box in cell H1, the Year-to-Date and Monthly balances will be calculated for the
Jun-2011 financial period. If the Report Start Date and the Year End is the same and the July calendar month is selected
from the list box in cell H1, the Year-to-Date and Monthly balances will be calculated for the July-2010 financial period. This
is because this month falls into the financial year that ends in June 2011 and the Report Start Date falls into the 2011
financial year.
All the calculations on the annual income statement and cash flow report are automated and calculated based on the periods
that are defined on the Set-up sheet and selected from the list box in cell H1 (for year-to-date and monthly columns). This
functionality enables users to easily view a report for any monthly period of the financial year that the Report Start Date falls
into.
This approach is slightly different from the monthly income statement and cash flow report. The monthly income statement
always includes a 12 month period that starts from the Report Start Date and includes 11 other subsequent periods, while
the annual income statement will always be based on the financial year that the Report Start Date forms part of. The monthly
periods on these two reports may therefore not always be exactly the same - you can however base both reports on the
same monthly periods by specifying the first day of the financial year as the Report Start Date on the Set-up sheet.
Page 18 of 36
Instructions
Balance Sheet
On
On this
this sheet:
sheet:
The monthly balance sheet is automatically calculated from the transactions that are recorded on the Income, Expenses and This
This sheet
sheet includes
includes detailed
instructions
Non-Cash sheets and the inventory valuations that are recorded on the InvValue sheet. No user input is required on this on
on setting
setting up
up and
and using
using this
this template.
template.
sheet. All the account groups that are included on the balance sheet are determined by the default account structure. You will
therefore not be able to change the layout of the balance sheet.
We have also included two rows below the balance sheet that include control totals which indicate whether the accounting
template is in balance. The first row indicates whether the total assets and total equity & liabilities balance and the second
row indicates whether the Bank balance on the balance sheet agrees to the appropriate closing cash balance on the monthly
cash flow report.
Both control totals should always display an "ok" status but if there is a problem with the control total that is
calculated, an orange "error" message will be displayed. This error message means that there is an imbalance in the
template. The following steps need to be completed in order to resolve this error:
Open the Accounts sheet and ensure that the template opening balances (column C) add up to a total of nil. If your
opening balances don't balance, the balance sheet will also not balance.
Open the NonCash sheet and ensure that an "ok" message is displayed in cell F3. If an error message is displayed in this
cell, it means that total of the journal entries that have been entered on the NonCash sheet is not nil. Review all journal
entries and correct the entries that don't add up to a nil value.
Open the Accounts sheet and ensure that there are no expense accounts (IS-300 accounts) that are highlighted in orange
or purple. If an account is highlighted in orange or purple, it means that the account has not been inserted on the monthly or
annual income statement. Insert the account on the appropriate sheet to correct the error.
Review the monthly income statement and ensure that there are no expense accounts that have been duplicated. If a
duplicate account number is found, simply delete the appropriate row.
Review the Income, Expenses and NonCash sheets and ensure that there are no error codes in the Error Code columns.
The Error Code columns on all three sheets should contain no error codes - if an error code is displayed in any transaction
row, refer to the Error Codes section of these instructions for guidance on the reason why an error code is displayed and the
corrective action that needs to be taken.
Review the Income, Expenses and NonCash sheets and ensure that all the formulas in all the columns with light blue
column headings have been copied to all the rows that contain data. We recommend that you copy the formulas in the first
row that contains a transaction to all the other rows that contain data in order to ensure that all the formulas have been
copied correctly.
Review the Income and Expenses sheets and ensure that a bank code has been allocated to all transactions. If there are
any blank cells in the Bank Code column, select the appropriate bank code from the list box.
If there is an imbalance between two monthly periods on the balance sheet, review the NonCash sheet and ensure that all
the individual journal entries contain the same date.
Review the invoice date, document date and statement date columns on the Income, Expenses and NonCash sheets and
ensure that all dates have been entered in accordance with the regional date settings that are specified in the System
Control Panel.
If you've completed all the above steps and still cannot resolve the imbalance on the monthly balance sheet, contact
our Support function for assistance. We'll require your version of the template to be e-mailed to us and we'll assist
you in correcting the imbalance and provide you with an explanation as to why the imbalance occurred.
Template Settings
The functionality that has been included in this accounting template uses data validation and named cell ranges in order to
validate all user input and to produce the reports that form part of this template. Most of the formulas that are used in this
template are based on named cell ranges that include the first 1,000 rows on the Income and Expenses sheets and the first
100 rows on the NonCash sheet. When the number of transactions that you've recorded on the Income, Expenses and Non-
Cash sheets reaches this limit, you will therefore have to extend the default number of rows in order to include all your
recorded transactions in the template calculations.
Page 19 of 36
Instructions
The named cell ranges can be extended by selecting the main Insert menu, selecting the Name menu option and then On
On this
this sheet:
sheet:
selecting the Define menu option in order to open the Define Name dialog box. The calculations that include the transactions This
on the Income and Expenses sheets are all based on the "Records" named range. This named cell range includes a default
This sheet
sheet includes
includes detailed
instructions
on
on setting
setting up
up and
and using
using this
this template.
template.
value of 1,000 - you can therefore extend the number of transactions that are included in the template calculations by simply
entering a new value for this named range and clicking the OK button. Similarly, the calculations that include the transactions
on the NonCash sheet can be extended by simply replacing the default value of 100 for the "RecordsNC" named range.
The data validation features that are used to validate user input on the Income, Expenses and NonCash sheets have been
implemented in the first 1,000 rows on this sheet. Before you reach this limit, you can simply copy one of the blank rows
before row 1,000 and paste the cells in this row to the required number of rows. This action will copy all the data validation
features to the target cell range.
Roll Forward for Subsequent Financial Periods
After specifying an initial Template Start Date and entering the required opening balances, the template does not need to be
rolled forward for subsequent reporting periods. The reporting periods can be adjusted by simply entering a new date into the
Report Start Date input cell on the Set-up sheet as we've explained earlier on in these instructions. No other roll forward
steps need to be completed.
Help & Customization
If you experience any difficulty while using this template and you are not able to find the appropriate guidance in these
instructions, please e-mail us at support@excel-skills.com for assistance. This template has been designed with flexibility in
mind to ensure that it can be used in most business environments. If however you need an Excel based template that is
customized specifically for your business requirements, please e-mail our Support function and provide a brief explanation of
your requirements.
Copyright
This template remains the intellectual property of www.excel-skills.com and is protected by international copyright laws. Any
publication or distribution of this template outside the scope of the permitted use of the template is expressly prohibited. In
terms of the permitted use of this template, only the distribution of the template to persons within the same organisation as
the registered user or persons outside the organisation who can reasonably be expected to require access to the template
as a direct result of the use of the template by the registered user is allowed. Subsequent distribution of the template by
parties outside of the organisation is however expressly prohibited and represents an infringement of international copyright
laws.
Page 20 of 36
Example (Pty) Ltd
Set-up
Business Details
Business Name Example (Pty) Ltd
Sales Tax Percentage 14.0%
On
On this
this sheet:
sheet:
Report Set-up Customize
Customize the the template
template for
for your
your business
business by by entering
entering your
your business
business name,
name,
specifying
specifying thethe appropriate
appropriate sales
sales tax
tax percentage
percentage and and entering
entering thethe appropriate
appropriate
Template Start Date 3/1/2017 template
template start date, report start date and year end. The sales tax percentage is
start date, report start date and year end. The sales tax percentage is
applied
applied toto the
the transactions
transactions that
that are
are entered
entered on on the
the Income
Income and
and Expenses
Expenses sheets.
sheets.
Report Start Date 3/1/2017 The template start date determines the first financial period that is
The template start date determines the first financial period that is included in the included in the
template;
template; thethe report
report start
start date
date determines
determines the the periods
periods that
that are
are included
included onon the
the
Year End February
trial
trial balance,
balance, income
income statement,
statement, cash
cash flow
flow report
report and
and balance
balance sheet
sheet and
and you
you can
can
select any month from the list box in the year end input cell. You
select any month from the list box in the year end input cell. You can also create can also create
additional bank accounts if the 3 default accounts are not
additional bank accounts if the 3 default accounts are not sufficient. sufficient.
Bank Accounts
Code Description
B1 B1 Bank Account
B2 B2 Bank Account
B3 B3 Bank Account
PC Petty Cash
Input Error Codes

Code Reason
E1 Payment date is before the invoice / document date
E2 Statement date is before the payment date
E3 Account number is invalid
E4 Bank code is invalid
January
February
March
April
May
June
July
August
September
October
November
December
Page 21 of 36
Example (Pty) Ltd
Account Set-up 2/28/2017 2/28/2017
28 Feb 2017 28 Feb 2017 28 Feb 2018
Template: Opening Trial Balance: Trial Balance:
Account Number Description Account Movement
Balances Opening Balances Closing Balances
BS-100 Property, Plant & Equipment 45,100.00 45,100.00 5,000.00 50,100.00 Opening Balance Guidance
BS-150 Accumulated Depreciation (30,000.00) (30,000.00) (3,800.00) (33,800.00) Assets = debit = positive value
BS-200 Investments 8,000.00 8,000.00 - 8,000.00 Liabilities = credit = negative value
BS-300 Cash - Other - - - - Equity = credit = negative value
BS-399 Cash Transfer Control - - - -
BS-400 Debtors - Other - - - -
BS-500 Creditors - Other - - (3,900.00) (3,900.00)
BS-600 Sales Tax Control (1,746.00) (1,746.00) (3,419.43) (5,165.43)
BS-700 Long Term Liabilities (50,000.00) (50,000.00) 7,440.00 (42,560.00)
BS-800 Share Capital (100.00) (100.00) - (100.00)
BS-900 Reserves - - - -
IS-100 Turnover - (773,332.09) (773,332.09)
IS-200 Stock Purchases - 412,542.63 412,542.63
IS-305 Accounting Fees - 8,421.00 8,421.00
IS-310 Advertising & Marketing -On
On this
this sheet:
sheet: 13,684.20 13,684.20
IS-315 Bank Charges The
The opening
opening balance
balance sheet
sheet balances
balances as - at
as at the
the template
template start
start date
526.32 date should
should be
be entered
526.32 entered on
on
IS-320 Commission
this
this sheet.
sheet. Note
Note that
that the
the Bank,
Bank, Trade
Trade Debtors, Trade Creditors
-Debtors, Trade Creditors -
and
and Inventory
Inventory-
opening
opening
balances
balances are are calculated
calculated and
and therefore
therefore need
need to
to be
be included
included on
on the
the Income,
Income, Expenses
Expenses and
and
IS-325 Computer Expenses - 1,245.14 1,245.14
InvValue
InvValue sheets.
sheets. The
The default
default list
list of
of accounts
accounts can can bebe customized
customized by by adding
adding new new accounts
accounts
IS-330 Consumables & Cleaning to - 336.82 336.82
to the
the list,
list, changing
changing the the descriptions
descriptions of of existing
existing accounts
accounts andand deleting
deleting accounts.
accounts. A
A
IS-335 Entertainment detailed -on this - - any
detailed trialtrial balance
balance isis also
also included
included on this sheet
sheet andand can
can be
be compiled
compiled for for any month
month
IS-340 Insurance end
end period
period by by changing
changing the the report
report start - date
start date on on the Set-up
Set-up sheet
the3,403.50 sheet and
and selecting
selecting aa month
3,403.50 month
IS-345 Office Expenses end
end period
period from - the
from the list
list box
box in
in cell
cell G3.
1,401.75 G3. 1,401.75
IS-350 Office Rent - 84,210.48 84,210.48
IS-355 Postage - - -
IS-360 Professional & Legal Fees - - -
IS-365 Salaries & Wages - 170,000.00 170,000.00
IS-370 Stationery - 1,292.10 1,292.10
IS-375 Subscriptions & Memberships - 1,450.22 1,450.22
IS-380 Telephone & Internet - 12,204.40 12,204.40
IS-385 Training - 592.11 592.11
IS-390 Travelling & Accommodation - 3,750.34 3,750.34
IS-395 Utilities - - -
IS-400 Depreciation - 3,800.00 3,800.00
IS-500 Interest Paid - 5,280.00 5,280.00
IS-600 Taxation - 19,132.00 19,132.00
IS-700 Other Expenses - - -
IS-800 Other Income - (10,877.19) (10,877.19)
ZZZ Add accounts above this row
Control Accounts
BS-BANKB1 B1 Bank Account 17,320.00 17,320.00 22,967.16 40,287.16 B1
BS-BANKB2 B2 Bank Account 1,800.00 1,800.00 - 1,800.00 B2
BS-BANKB3 B3 Bank Account 600.00 600.00 12,400.00 13,000.00 B3
BS-PCASHPC Petty Cash 1,100.00 1,100.00 (100.00) 1,000.00 PC
BS-DEBTORS Trade Debtors 15,200.00 15,200.00 72,315.00 87,515.00
BS-CREDITORS Trade Creditors (982.00) (982.00) (67,966.46) (68,948.46)
BS-INVENTORY Inventory 22,310.00 22,310.00 2,990.00 25,300.00
IS-INV MOVEMENT Inventory Movement - - (2,990.00) (2,990.00)
BS-RETAINED Retained Earnings (28,602.00) (28,602.00) - (28,602.00)
- - - -
Page 22 of 36
Example (Pty) Ltd
Income & Other Receipts
921,025.00 820,229.28 100,795.72 921,025.00
Invoice Tax Inclusive Bank Statement Exclusive Inclusive Error
Number Invoice Date Customer Description Amount Tax Code Code Account Payment Date Date Amount Tax Amount Amount Code
INV0001 2/15/2017 Energy Incorporated Stock Sales 15,200.00 E B1 IS-100 3/12/2017 3/12/2017 15,200.00 - 15,200.00
OB 2/28/2017 OB Opening Bank Balance 17,320.00 E B1 BS-399 2/28/2017 2/28/2017 17,320.00 - 17,320.00
OB 2/28/2017 OB Opening Bank Balance 1,800.00 E B2 BS-399 2/28/2017 2/28/2017 1,800.00 - 1,800.00
OB 2/28/2017 OB Opening Bank Balance 600.00 E B3 BS-399 2/28/2017 2/28/2017 600.00 - 600.00
OB 2/28/2017 OB Opening Bank Balance 1,100.00 E PC BS-399 2/28/2017 2/28/2017 1,100.00 - 1,100.00
INV0002 3/14/2017 The Paint Shop Stock Sales 29,000.00 A B1 IS-100 4/6/2017 4/6/2017 25,438.60 3,561.40 29,000.00
INV0003 3/31/2017 The Paint Shop Stock Sales 25,200.00 A B1 IS-100 4/23/2017 4/23/2017 22,105.26 3,094.74 25,200.00
INV0004 4/20/2017 ABC Limited Stock Sales 28,760.00 A B1 IS-100 5/5/2017 5/5/2017 25,228.07 3,531.93 28,760.00
On
Onthis
thissheet:
sheet:
Record all sales transactions and cash receipts in the columns with a yellow column heading on this
Record all sales transactions and cash receipts in the columns with a yellow column heading on this sheet. The columns with a light sheet. The columns with a light
INV0006 5/13/2017 DF Manufacturing Stock Sales 31,000.00 A B1 IS-100 6/12/2017 6/12/2017
blue
blue column
column heading
heading contain
contain formulas
formulas that
that should
should be be copied
copied for
for all
all new
new transactions
transactions that
that are
are entered.
entered. Sales
Sales tax
tax is
is calculated based 27,192.98
calculated based 3,807.02 31,000.00
INV0007 on the sales tax code that is selected in column F and the sales tax percentage that is specified on the Set-up sheet. All income 28,245.61
5/31/2017
on the sales DF Manufacturing
tax code that is Stock Sales
selected in column F and the 32,200.00
sales tax A
percentage B1
that is IS-100
specified on the 6/30/2017
Set-up sheet. 6/30/2017
All income 3,954.39 32,200.00
INV0008 transactions
6/22/2017 CCare
transactions included
included in
Supplies
are in Trade Debtors
Debtors and
Stock Sales
Trade and Income
Income based on
on the
35,000.00
based the invoice
A
invoice dateB1 that
date that is
is entered
IS-100 in
entered in column B.
B. When
7/17/2017
column When the
the invoice
7/17/2017invoice 30,701.75 4,298.25 35,000.00
INV0009 amount
6/30/2017is
amount is paid
paid by
by the
the customer,
CC Supplies customer, simply
Sales enter
simply
Stock enter thethe payment
payment date
date in
in the
38,200.00 the Payment
Payment
A Date
Date column
B1 column and
and the
IS-100 the transaction
7/25/2017 is
transaction is automatically
automatically 33,508.77
7/25/2017 4,691.23 38,200.00
INV0010 removed
removed from
7/19/2017 Trade
fromPTY
Trade Debtors
Debtors and
Consultants and included
Sales in
included
Stock in the
the Bank
Bank balance.
balance. All
All outstanding
32,000.00outstanding
A invoices
invoices
B1 can therefore
therefore be
canIS-100 identified
identified by
be8/11/2017 by aa blank
blank cell
8/11/2017 cell in
in28,070.18 3,929.82 32,000.00
INV0011 the
the Payment
PaymentPTY
7/31/2017 Date
Date column.
column. The
Consultants date
The Stock on
on which
date Saleswhich the the transaction is
is reflected
reflectedAon
transaction31,210.00 on the
the bank
B1 statement
bank IS-100should
statement should be be entered
entered in
8/23/2017 the
the Statement
in8/23/2017
Statement 27,377.19 3,832.81 31,210.00
INV0012 8/7/2017 WY Services Stock Sales
Date
Date column.
column. A
40,000.00 B1 IS-100 8/22/2017 8/22/2017 35,087.72 4,912.28 40,000.00
INV0013 8/31/2017 WY Services Stock Sales 23,450.00 A B1 IS-100 9/15/2017 9/15/2017 20,570.18 2,879.82 23,450.00
INV0014 9/11/2017 CC Supplies Stock Sales 50,000.00 A B1 IS-100 10/31/2017 10/31/2017 43,859.65 6,140.35 50,000.00
INV0015 9/30/2017 CC Supplies Stock Sales 48,230.00 A B1 IS-100 10/30/2017 10/30/2017 42,307.02 5,922.98 48,230.00
INV0016 10/15/2017 TRF Solutions Stock Sales 43,000.00 A B1 IS-100 11/30/2017 11/30/2017 37,719.30 5,280.70 43,000.00
INV0017 10/31/2017 TRF Solutions Stock Sales 48,200.00 A B1 IS-100 11/25/2017 11/25/2017 42,280.70 5,919.30 48,200.00
Receipt 11/13/2017 PQ Traders Commission 12,400.00 A B3 IS-800 11/30/2017 11/30/2017 10,877.19 1,522.81 12,400.00
INV0022 1/23/2018 PTY Consultants Stock Sales 35,500.00 A B1 IS-100 2/15/2018 2/15/2018 31,140.35 4,359.65 35,500.00
INV0023 1/31/2018 PTY Consultants Stock Sales 38,300.00 A B1 IS-100 33,596.49 4,703.51 38,300.00
INV0025 2/28/2018 ABC Limited Stock Sales 49,215.00 A B1 IS-100 43,171.05 6,043.95 49,215.00
Page 23 of 36
Example (Pty) Ltd
Expenses & Other Payments
846,371.30 769,804.41 76,566.89 846,371.30
Document Tax Inclusive Bank Statement Exclusive Inclusive Error
Date Supplier Reference Description Amount Tax Code Code Account Payment Date Date Amount Tax Amount Amount Code
2/27/2017 Telecoms International Invoice Telephone 982.00 A B1 BS-500 3/15/2017 3/15/2017 861.40 120.60 982.00
3/1/2017 IT Data Cables Debit Order Internet Access 145.00 A B1 IS-380 3/1/2017 3/1/2017 127.19 17.81 145.00
3/5/2017 Insurance Incorporated Debit Order Insurance 320.00 A B1 IS-340 3/5/2017 3/5/2017 280.70 39.30 320.00
3/5/2017 Waltons Cash Stationery 103.00 A PC IS-370 3/5/2017 3/5/2017 90.35 12.65 103.00
3/10/2017 ABC Suppliers A87898 Stock Purchases 11,022.86 A B1 IS-200 4/9/2017 4/9/2017 9,669.18 1,353.68 11,022.86
3/11/2017 Paper One Debit Order Paper 200.00 A PC IS-325 3/18/2017 3/18/2017 175.44 24.56 200.00
3/15/2017 ABC Bank Bank Statement Service Charges 50.00 A B1 IS-315 3/15/2017 3/15/2017 43.86 6.14 50.00
3/15/2017 AC Accountants Invoice Bookkeeping 800.00 A B1 IS-305 3/18/2017 3/18/2017 701.75 98.25 800.00
On
On this
this sheet:
sheet:
3/15/2017 BXJ Promotions Invoice Advertising 1,200.00 A B1 IS-310 4/14/2017 4/14/2017 1,052.63 147.37 1,200.00
Record
Record all
all expense
expense transactions
transactions and
and cash
cash payments
payments in
in the
the columns
columns with
with aa yellow
yellow column
column heading
heading on
on this
this sheet.
sheet. The
The
3/20/2017 Example (Pty) Ltd a light Transfer
columns Inter Account Transfer 10,000.00 copied
E B1 BS-399 3/20/2017 3/20/2017 10,000.00 - 10,000.00
columns withwith a light blue
blue column
column heading
heading contain
contain formulas
formulas that
that should
should bebe copied for
for all
all new
new transactions
transactions that
that are
are
3/20/2017 Example (Pty)
entered. Ltd tax is calculated
Sales Transfer basedInter
on Account Transfer
the sales (10,000.00)in column
tax code that is selected E F B2 BS-399
and the sales 3/20/2017
tax percentage 3/20/2017 (10,000.00) - (10,000.00)
entered. Sales tax is calculated based on the sales tax code that is selected in column F and the sales tax percentage
3/25/2017 that
that is
Paper is specified
One specified on on the Set-up
theDebit sheet.
sheet. All
Order
Set-up expense
expense transactions
Paper
All transactions areare included
200.00in
included in Trade
A Creditors
Trade PC
Creditors and
and Expenses
IS-325
Expenses based on
4/1/2017
based on 4/1/2017 175.44 24.56 200.00
3/26/2017 the
the document
Example (Pty) Ltd
document date
date that is
is entered
Payroll
that entered in column
column A.
inSalary A. When
When thethe expense amount
amount is
expense10,000.00 is paid
E to
paid to theB2supplier,
the simply
simply enter
supplier,IS-365 the
enter3/26/2017
the 3/26/2017 10,000.00 - 10,000.00
3/26/2017 payment
Lettingdate
payment
Property date in
in the
the Payment
Order Date
Payment
Debit Date column
column
Rent and
and the
the transaction
transaction isis automatically
automatically
8,000.00 Aremoved
removed B1from
from Trade
Trade Creditors
IS-350 and
Creditors3/26/2017
and 3/26/2017 7,017.54 982.46 8,000.00
3/27/2017 deducted
deducted
Telecoms from
from the
Internationalthe Bank
Bank balance.
balance. All
Invoice outstanding
outstanding invoices
AllTelephone invoices can
can therefore
therefore be
be identified
960.00 identified
A by
byB1aa blank
blank cell
cell in
in the
IS-380 the Payment
Payment
3/27/2017 3/27/2017 842.11 117.89 960.00
3/28/2017 Date
Date
VF column.
column. The
Finance The date on
on which
dateDebit Order the
which the transaction
transaction is
is reflected
Capital repayment reflected onon the
the bank
bank statement
statement
620.00 E should
should B1bebe entered
entered in
in the
BS-700 the Statement
Statement
3/28/2017 3/28/2017 620.00 - 620.00
Date
Date column.
column.
3/28/2017 VF Finance Debit Order Loan interest 440.00 E B1 IS-500 3/28/2017 3/28/2017 440.00 - 440.00
3/31/2017 Example (Pty) Ltd Transfer Petty Cash Reimbursement (303.00) E PC BS-399 3/31/2017 3/31/2017 (303.00) - (303.00)
3/31/2017 Example (Pty) Ltd Transfer Petty Cash Reimbursement 303.00 E B1 BS-399 3/31/2017 3/31/2017 303.00 - 303.00
4/13/2017 ABC Suppliers 6786879 Stock Purchases 13,085.71 A B1 IS-200 5/13/2017 5/13/2017 11,478.69 1,607.02 13,085.71
4/20/2017 Example (Pty) Ltd Transfer Inter Account Transfer 10,000.00 E B1 BS-399 4/20/2017 4/20/2017 10,000.00 - 10,000.00
4/20/2017 Example (Pty) Ltd Transfer Inter Account Transfer (10,000.00) E B2 BS-399 4/20/2017 4/20/2017 (10,000.00) - (10,000.00)
4/25/2017 Inland Revenue Return Sales tax payment 3,900.00 E B1 BS-600 4/25/2017 4/25/2017 3,900.00 - 3,900.00
4/26/2017 Example (Pty) Ltd Payroll Salary 10,000.00 E B2 IS-365 4/26/2017 4/26/2017 10,000.00 - 10,000.00
4/26/2017 Property Letting Debit Order Rent 8,000.00 A B1 IS-350 4/26/2017 4/26/2017 7,017.54 982.46 8,000.00
4/27/2017 Telecoms International Invoice Telephone 980.00 A B1 IS-380 4/27/2017 4/27/2017 859.65 120.35 980.00
4/28/2017 VF Finance Debit Order Capital repayment 620.00 E B1 BS-700 4/28/2017 4/28/2017 620.00 - 620.00
Page 24 of 36
Example (Pty) Ltd
846,371.30 769,804.41 76,566.89 846,371.30
5/16/2017 Magazine 123 Bank Statement Annual Subscription 1,200.00 A B1 IS-375 5/16/2017 5/16/2017 1,052.63 147.37 1,200.00
5/22/2017 ABC Suppliers Invoice 3 Stock Purchases 15,942.86 A B1 IS-200 6/21/2017 6/21/2017 13,984.96 1,957.90 15,942.86
5/22/2017 Secure Parking Int Credit Card Parking 563.00 A B1 IS-390 5/22/2017 5/22/2017 493.86 69.14 563.00
5/26/2017 AC Equipment Invoice Computer Equipment 5,700.00 A B1 BS-100 6/25/2017 6/25/2017 5,000.00 700.00 5,700.00
6/17/2017 ZD Supplies Debit Order Consumables 98.00 A PC IS-330 6/17/2017 6/17/2017 85.96 12.04 98.00
6/21/2017 ABC Suppliers IN566890 Stock Purchases 17,904.29 A B1 IS-200 7/21/2017 7/21/2017 15,705.52 2,198.77 17,904.29
Page 25 of 36
Example (Pty) Ltd
846,371.30 769,804.41 76,566.89 846,371.30
7/12/2017 ABC Suppliers INV 2305 Stock Purchases 17,480.00 A B1 IS-200 8/11/2017 8/11/2017 15,333.33 2,146.67 17,480.00
7/27/2017 Telecoms International Invoice Telephone 1,020.00 A B1 IS-380 7/27/2017 7/27/2017 894.74 125.26 1,020.00
8/7/2017 MM Supplies X2518536 Office chair 1,598.00 A B1 IS-345 8/7/2017 8/7/2017 1,401.75 196.25 1,598.00
8/31/2017 Inland Revenue Return Provisional Tax 8,282.00 E B1 IS-600 8/31/2017 8/31/2017 8,282.00 - 8,282.00
Page 26 of 36
Example (Pty) Ltd
846,371.30 769,804.41 76,566.89 846,371.30
10/3/2017 Training Unlimited Debit Order Course 675.00 A B1 IS-385 10/3/2017 10/3/2017 592.11 82.89 675.00
10/8/2017 News Incorporated NC628054 Subscription 453.25 A B1 IS-375 10/8/2017 10/8/2017 397.59 55.66 453.25
10/19/2017 British Airways Credit Card Travel 3,000.00 A B1 IS-390 10/19/2017 10/19/2017 2,631.58 368.42 3,000.00
Page 27 of 36
Example (Pty) Ltd
846,371.30 769,804.41 76,566.89 846,371.30
12/25/2017 Inland Revenue Return Sales tax payment (900.00) E B1 BS-600 12/25/2017 12/25/2017 (900.00) - (900.00)
1/27/2018 Airport Taxes Credit Card Travel 117.00 E B1 IS-390 1/27/2018 1/27/2018 117.00 - 117.00
Page 28 of 36
Example (Pty) Ltd
846,371.30 769,804.41 76,566.89 846,371.30
2/28/2018 Inland Revenue Return Provisional Tax 10,850.00 E B1 IS-600 2/28/2018 2/28/2018 10,850.00 - 10,850.00
Page 29 of 36
Example (Pty) Ltd Positive Amount = Debit Entry = Increase Expense / Asset, Decrease Income / Liability
Non-Cash Journal Entries Negative Amount = Credit Entry = Decrease Expense / Asset, Increase Income / Liability
- ok
Document Transaction Error
Date Reference Description Account Amount Code
2/28/2018 Journal Depreciation IS-400 3,000.00
2/28/2018 Journal Accumulated Depreciation BS-150 (3,000.00)
2/28/2018 Journal Depreciation IS-400 800.00
2/28/2018 Journal Accumulated Depreciation BS-150 (800.00)
2/28/2018 Accrual February Expenses IS-200 3,900.00
2/28/2018 Accrual February Expenses BS-500 (3,900.00)
On
On this
this sheet:
sheet:
Record
Record allall non-cash
non-cash transactions
transactions inin the
the columns
columns withwith aa yellow
yellow column
column heading
heading onon this
this
sheet.
sheet. All transactions should be entered in a general ledger journal format you
All transactions should be entered in a general ledger journal format you
therefore
therefore have
have to
to enter
enter both
both the
the debit
debit and
and the
the credit
credit entries
entries onon this
this sheet
sheet and
and the
the total
total of
of
all the amounts in column E should always be nil. Cell F3 contains
all the amounts in column E should always be nil. Cell F3 contains conditional conditional
formatting
formatting that
that will
will display
display an
an error
error message
message ifif the
the sum
sum of of the
the journal
journal entries
entries on
on this
this
sheet does not equal
sheet does not equal nil. nil.
Page 30 of 36
Example (Pty) Ltd
Inventory Valuation
Month Valuation
2/28/2017 22,310.00
3/31/2017 23,210.00
4/30/2017 25,690.00
On
On this
this sheet:
sheet:
5/31/2017 25,430.00 Record
Record monthly
monthly inventory
valuations onon this
this sheet.
sheet. The
The dates
dates that
that are
are entered
entered
6/30/2017 30,870.00 in
in column
column AA should
should allall be
be month
month end
end dates
dates -- we
we have
have applied
applied conditional
conditional
7/31/2017 31,003.00 formatting
formatting to
to this
this column
column to to highlight
highlight invalid
invalid dates.
dates. A
A monthly
monthly inventory
inventory
8/31/2017 35,200.00 valuation
valuation can
can be
be calculated
calculated independently
independently or or copied
copied from
from one
one ofof our
our Inventory
Inventory
9/30/2017 34,800.00 templates.
templates. Inventory
Inventory valuations
valuations are
are automatically
automatically included
included onon the
the trial
trial balance,
balance,
10/31/2017 31,200.00 monthly
monthly && annual
annual income
income statements
statements andand the
the monthly
monthly balance
balance sheet.
sheet.
11/30/2017 29,730.00
12/31/2017 26,300.00
1/31/2018 27,650.00
2/28/2018 25,300.00
Page 31 of 36
Example (Pty) Ltd
Bank Reconciliation
Bank Code B1
Reconciliation Date 2/28/2018

On
On this
this sheet:
sheet:
Opening Balances This
This sheet
sheet contains
contains aa bank
bank reconciliation
reconciliation that
that is
is automatically
automatically compiled
compiled
Calculated Bank Statement Balance (10,869.84) from
from the
the payment
payment dates
dates and
and statement
statement dates
dates that
that are
are entered
entered onon the
the Income
Income
Outstanding Items:
and
and Expenses
Expenses sheets.
sheets. The
The only
only user
user input
input that
that is
is required
required isis selecting
selecting thethe
bank
bank code
code in
in cell
cell B4,
B4, entering
entering aa reconciliation
reconciliation date
date inin cell
cell B6
B6 and
and entering
entering
Withdrawals (1,030.00)
the
the actual
actual bank
bank statement
statement balance
balance inin cell
cell B26.
B26. You
You can
can therefore
therefore view
view aa bank
bank
Deposits 32,900.00 reconciliation
reconciliation for
for any
any date
date by
by simply
simply entering
entering the
the appropriate
appropriate date
date in
in cell
cell B6.
B6.
Cashbook Balance 21,000.16
Current Month Transactions

Deposits 87,800.00
Closing Balances
Cashbook Balance 40,287.16
Outstanding Items:
Deposits -
Calculated Bank Statement Balance 41,307.16
Actual Bank Statement Balance 41,307.16
Unreconciled Difference - ok
Page 32 of 36
Example (Pty) Ltd
Report ID Description Mar-2017 Apr-2017 May-2017 Jun-2017 Jul-2017 Aug-2017 Sep-2017 Oct-2017 Nov-2017 Dec-2017 Jan-2018 Feb-2018
IS-100 Turnover 47,543.86 48,649.12 55,438.59 64,210.52 55,447.37 55,657.90 86,166.67 80,000.00 64,240.00 62,192.98 64,736.84 89,048.24
Opening Stock 22,310.00 23,210.00 25,690.00 25,430.00 30,870.00 31,003.00 35,200.00 34,800.00 31,200.00 29,730.00 26,300.00 27,650.00
IS-200 Stock Purchases 21,643.22 23,132.82 28,145.36 31,586.48 30,842.10 39,182.96 47,684.21 42,455.14 30,505.26 37,001.51 34,771.93 45,591.64
Closing Stock 23,210.00 25,690.00 25,430.00 30,870.00 31,003.00 35,200.00 34,800.00 31,200.00 29,730.00 26,300.00 27,650.00 25,300.00
Cost of Sales 20,743.22 20,652.82 28,405.36 26,146.48 30,709.10 34,985.96 48,084.21 46,055.14 31,975.26 40,431.51 33,421.93 47,941.64
Gross Profit 26,800.64 27,996.30 27,033.23 38,064.04 24,738.27 20,671.94 38,082.46 33,944.86 32,264.74 21,761.47 31,314.91 41,106.60
Gross Profit % 56.4% 57.5% 48.8% 59.3% 44.6% 37.1% 44.2% 42.4% 50.2% 35.0% 48.4% 46.2%
Expenses
IS-305 Accounting Fees 701.75 701.75 701.75 701.75 701.75 701.75 701.75 701.75 701.75 701.75 701.75 701.75
IS-310 Advertising & Marketing 1,052.63 1,052.63 1,052.63 1,052.63 1,052.63 1,052.63 1,052.63 1,052.63 1,315.79 1,315.79 1,315.79 1,315.79
IS-315 Bank Charges 43.86 43.86 43.86 43.86 43.86 43.86 43.86 43.86 43.86 43.86 43.86 43.86
On
Onthis
thissheet:
sheet:
IS-320 Commission - - - - - - - - - - - -
This
This monthly
monthly income
income statement
statement and and cash
cash flow
flow report
report is is automatically
automatically compiled
compiled based
based onon the
the
IS-325 Computer Expenses 350.88
transactions 350.88 350.88 192.50 - - - - - - - -
transactions that that are
are entered
entered on on the
the Income,
Income, Expenses
Expenses and and NonCash
NonCash sheets
sheets andand thethe inventory
inventory
IS-330 Consumables & Cleaning valuations - - - 85.96 - - 45.61 - 45.61 - 85.96 73.68
valuations thatthat are
are entered
entered on on the
the InvValue
InvValue sheet.
sheet. No
No user
user input
input isis required
required on on this
this sheet.
sheet. The
The
IS-335 Entertainment monthly
monthly - reporting
reporting periods
-
periods are
are determined
-
determined based
based on - the
on the report
report start- date
start date that
that is
is-specified
specified on
on - - - - - -
IS-340 Insurance the Set-up
Set-up sheet
the280.70 sheet and
and includes
280.70 includes 12 monthly
monthly periods.
280.70
12 280.70You
periods. You can
can therefore
280.70
therefore change the
the reporting
280.70
change reporting280.70 280.70 280.70 280.70 298.25 298.25
IS-345 Office Expenses periods
periods by -by simply
simply changing
changing
- the
the date
date in
-in aa single
single cell.
cell.- Note
Note that
that you
you- can
can add additional
additional expense
add1,401.75 expense- - - - - -
IS-350 Office Rent accounts
7,017.54 by
accounts by creating
creating the
7,017.54the accounts
accounts on
on the
7,017.54 the Accounts
7,017.54 sheet,
Accounts sheet, inserting
7,017.54 the
inserting the account
7,017.54 number
account on
number7,017.54
on 7,017.54 7,017.54 7,017.54 7,017.54 7,017.54
IS-355 Postage this sheet
this sheet and copying the formulas in the other
- and copying- the formulas -in the other columns columns
- from one
from one of the existing
- of the existing - rows in
rows in the
the - - - - - -
Expenses section.
IS-360 Professional & Legal Fees - - - Expenses section.- - - - - - - - -
IS-365 Salaries & Wages 10,000.00 10,000.00 10,000.00 10,000.00 15,000.00 15,000.00 15,000.00 15,000.00 15,000.00 15,000.00 20,000.00 20,000.00
IS-370 Stationery 90.35 84.21 84.21 89.47 171.93 77.19 128.07 166.67 63.16 159.65 80.70 96.49
IS-375 Subscriptions & Memberships - - 1,052.63 - - - - 397.59 - - - -
IS-380 Telephone & Internet 969.30 986.84 978.07 960.52 1,021.93 1,021.06 1,007.90 1,025.44 1,042.98 1,078.07 1,060.53 1,051.76
IS-385 Training - - - - - - - 592.11 - - - -
IS-390 Travelling & Accommodation - - 493.86 - 176.32 156.14 - 2,631.58 - 175.44 117.00 -
IS-395 Utilities - - - - - - - - - - - -
Total Expenses 20,507.01 20,518.41 22,056.13 20,424.93 25,466.66 26,752.62 25,278.06 28,909.87 25,511.39 25,772.80 30,721.38 30,599.12
IS-400 Depreciation - - - - - - - - - - - 3,800.00

IS-500 Interest Paid 440.00 440.00 440.00 440.00 440.00 440.00 440.00 440.00 440.00 440.00 440.00 440.00
IS-600 Taxation - - - - - 8,282.00 - - - - - 10,850.00
IS-700 Other Expenses - - - - - - - - - - - -
IS-800 Other Income - - - - - - - - (10,877.19) - - -
Net Profit 5,853.63 7,037.89 4,537.10 17,199.11 (1,168.39) (14,802.68) 12,364.40 4,594.99 17,190.54 (4,451.33) 153.53 (4,582.52)
Page 33 of 36
Example (Pty) Ltd
Report ID Description Mar-2017 Apr-2017 May-2017 Jun-2017 Jul-2017 Aug-2017 Sep-2017 Oct-2017 Nov-2017 Dec-2017 Jan-2018 Feb-2018
Non-Cash Adjustments:
BS-150 Depreciation - - - - - - - - - - - 3,800.00
BS-900 Movement in Reserves - - - - - - - - - - - -
Working Capital Changes

BS-300 Other Cash Balances - - - 0.45 (1.00) - 0.55 100.00 (100.00) 100.00 100.00 (100.00)
Inventory (900.00) (2,480.00) 260.00 (5,440.00) (133.00) (4,197.00) 400.00 3,600.00 1,470.00 3,430.00 (1,350.00) 2,350.00
BS-400 Debtors (39,000.00) (1,260.00) (7,740.00) (10,000.00) 9,990.00 39,760.00 (74,780.00) 7,030.00 26,960.00 (6,660.00) (2,900.00) (13,715.00)
BS-500 Creditors 25,091.26 1,498.16 11,414.30 (1,777.14) (848.58) 9,508.58 9,691.42 (5,961.14) (13,322.86) 7,405.72 (2,541.72) 31,708.46
BS-600 Sales Tax Control 2,155.11 (1,800.31) 1,433.18 (392.14) 1,979.39 (4,458.90) 3,948.60 (1,301.10) (4,219.54) 2,918.61 2,710.47 446.06
(12,653.63) (4,042.15) 5,367.48 (17,608.83) 10,986.81 40,612.68 (60,739.43) 3,467.76 10,787.60 7,194.33 (3,981.25) 20,689.52
Cash Flow from Operations (6,800.00) 2,995.74 9,904.58 (409.72) 9,818.42 25,810.00 (48,375.03) 8,062.75 27,978.14 2,743.00 (3,827.72) 19,907.00
Cash Flow from Investing Activities

BS-100 Property, Plant & Equipment Acquisitions - - (5,000.00) - - - - - - - - -
BS-200 Investments Acquired - - - - - - - - - - - -
- - (5,000.00) - - - - - - - - -
Cash Flow from Financing Activities
BS-700 Long Term Liabilities (620.00) (620.00) (620.00) (620.00) (620.00) (620.00) (620.00) (620.00) (620.00) (620.00) (620.00) (620.00)
BS-800 Share Capital - - - - - - - - - - - -
(620.00) (620.00) (620.00) (620.00) (620.00) (620.00) (620.00) (620.00) (620.00) (620.00) (620.00) (620.00)
Net Cash Movement (7,420.00) 2,375.74 4,284.58 (1,029.72) 9,198.42 25,190.00 (48,995.03) 7,442.75 27,358.14 2,123.00 (4,447.72) 19,287.00
Cash at beginning of period 19,720.00 12,300.00 14,675.74 18,960.32 17,930.60 27,129.02 52,319.02 3,323.99 10,766.74 38,124.88 40,247.88 35,800.16
Cash at end of period 12,300.00 14,675.74 18,960.32 17,930.60 27,129.02 52,319.02 3,323.99 10,766.74 38,124.88 40,247.88 35,800.16 55,087.16
Page 34 of 36
Example (Pty) Ltd Month: February
Annual Income Statement & Cash Flow Report 2/1/2018 2/1/2017
Annual Year To Date Monthly
Report ID Description Feb-2018 Feb-2017 Feb-2018 Feb-2017 Feb-2018 Feb-2017
IS-100 Turnover 773,332.09 15,200.00 773,332.09 15,200.00 89,048.24 15,200.00
Opening Stock 22,310.00 - 22,310.00 - 27,650.00 -

IS-200 Stock Purchases 412,542.63 - 412,542.63 - 45,591.64 -
Closing Stock 25,300.00 22,310.00 25,300.00 22,310.00 25,300.00 22,310.00
Cost of Sales 409,552.63 (22,310.00) 409,552.63 (22,310.00) 47,941.64 (22,310.00)
Gross Profit 363,779.46 37,510.00 363,779.46 37,510.00 41,106.60 37,510.00

Gross Profit % 47.0% 246.8% 47.0% 246.8% 46.2% 246.8%
Expenses
IS-305 Accounting Fees 8,421.00 - 8,421.00 - 701.75 -
IS-310 Advertising & Marketing 13,684.20 - 13,684.20 - 1,315.79 -
IS-315 Bank Charges 526.32 - 526.32 - 43.86 -
On
Onthis
thissheet:
sheet:
IS-320 Commission This - - - - - -
This annual
annual income
income statement
statement and
and cash
cash flow
flow report
report isis automatically
automatically calculated
calculated based
based onon the
the
IS-325 Computer Expenses 1,245.14that
transactions
transactions that are entered- on
are entered on the
the Income,1,245.14
Income, Expenses
Expenses and -
and NonCash
NonCash sheets
sheets and
and the - inventory
the inventory -
IS-330 Consumables & Cleaning valuations that
336.82 are entered on
- the InvValue sheet.
336.82 No user input - is required
valuations that are entered on the InvValue sheet. No user input is required on this sheet. Theon this
73.68 sheet. The -
IS-335 Entertainment annual
annual reporting
reporting
- periods
periods are
are-determined
determined based
based on-on the
the report
report start
- date
start date and
and year
year end
end- date
date input
input -
IS-340 Insurance cells on
on the
the Set-up
cells3,403.50 Set-up sheet.
sheet. The
-The report
report includes
3,403.50an
includes an annual,
annual, year
year-toto date
date and
and monthly
298.25 income
monthly income -
IS-345 Office Expenses statement
statement and cash flow report.
1,401.75and cash flow report.
- The year
The year to date
1,401.75 and monthly reports can be
to date and monthly- reports can be amended amended
- by
by -
IS-350 Office Rent
simply
simply selecting
selecting the
84,210.48 the appropriate
appropriate
-
month
month from
from the
84,210.48 the list
list box
box in
in cell
cell
-
H1.
H1. Additional
Additional expense
expense
7,017.54 -
accounts
accounts can also be added on this
can also be- added on this sheet.sheet.
IS-355 Postage - - - - -
IS-360 Professional & Legal Fees - - - - - -
IS-365 Salaries & Wages 170,000.00 - 170,000.00 - 20,000.00 -
IS-370 Stationery 1,292.10 - 1,292.10 - 96.49 -
IS-375 Subscriptions & Memberships 1,450.22 - 1,450.22 - - -
IS-380 Telephone & Internet 12,204.40 - 12,204.40 - 1,051.76 -
IS-385 Training 592.11 - 592.11 - - -
IS-390 Travelling & Accommodation 3,750.34 - 3,750.34 - - -
IS-395 Utilities - - - - - -
Total Expenses 302,518.38 - 302,518.38 - 30,599.12 -
IS-400 Depreciation 3,800.00 - 3,800.00 - 3,800.00 -

IS-500 Interest Paid 5,280.00 - 5,280.00 - 440.00 -
IS-600 Taxation 19,132.00 - 19,132.00 - 10,850.00 -
IS-700 Other Expenses - - - - - -
IS-800 Other Income (10,877.19) - (10,877.19) - - -
Net Profit 43,926.27 37,510.00 43,926.27 37,510.00 (4,582.52) 37,510.00
Non-Cash Adjustment:
BS-150 Depreciation 3,800.00 - 3,800.00 - 3,800.00 -
BS-900 Movement in Reserves - - - - - -
Working Capital Changes

BS-300 Other Cash Balances 100.00 19,720.00 100.00 19,720.00 (100.00) 19,720.00
Inventory (2,990.00) (22,310.00) (2,990.00) (22,310.00) 2,350.00 (22,310.00)
BS-400 Debtors (72,315.00) (15,200.00) (72,315.00) (15,200.00) (13,715.00) (15,200.00)
BS-500 Creditors 71,866.46 120.60 71,866.46 120.60 31,708.46 120.60
BS-600 Sales Tax Control 3,419.43 (120.60) 3,419.43 (120.60) 446.06 (120.60)
80.89 (17,790.00) 80.89 (17,790.00) 20,689.52 (17,790.00)
Cash Flow from Operations 47,807.16 19,720.00 47,807.16 19,720.00 19,907.00 19,720.00
Cash Flow from Investing Activities

BS-100 Property, Plant & Equipment Acquisitions (5,000.00) - (5,000.00) - - -
BS-200 Investments Acquired - - - - - -
(5,000.00) - (5,000.00) - - -
Cash Flow from Financing Activities
BS-700 Long Term Liabilities (7,440.00) - (7,440.00) - (620.00) -
BS-800 Share Capital - - - - - -
(7,440.00) - (7,440.00) - (620.00) -
Net Cash Movement 35,367.16 19,720.00 35,367.16 19,720.00 19,287.00 19,720.00
Cash at beginning of period 19,720.00 - 19,720.00 - 35,800.16 -
Cash at end of period 55,087.16 19,720.00 55,087.16 19,720.00 55,087.16 19,720.00
Page 35 of 36
Example (Pty) Ltd
Monthly Balance Sheet
Account Description Feb-2017 Mar-2017 Apr-2017 May-2017 Jun-2017 Jul-2017 Aug-2017 Sep-2017 Oct-2017 Nov-2017 Dec-2017 Jan-2018 Feb-2018
Assets
BS-100 Property, Plant & Equipment 15,100.00 15,100.00 15,100.00 20,100.00 20,100.00 20,100.00 20,100.00 20,100.00 20,100.00 20,100.00 20,100.00 20,100.00 16,300.00
BS-200 Investments 8,000.00 8,000.00 8,000.00 8,000.00 8,000.00 8,000.00 8,000.00 8,000.00 8,000.00 8,000.00 8,000.00 8,000.00 8,000.00
BS-INVENTORY Inventory 22,310.00 23,210.00 25,690.00 25,430.00 30,870.00 31,003.00 35,200.00 34,800.00 31,200.00 29,730.00 26,300.00 27,650.00 25,300.00
BS-DEBTORS Trade Debtors 15,200.00 54,200.00 55,460.00 63,200.00 73,200.00 63,210.00 23,450.00 98,230.00 91,200.00 64,240.00 70,900.00 73,800.00 87,515.00
BS-400 Other Debtors - - - - - - - - - - - - -
BS-BANK Bank 19,720.00 12,300.00 14,675.74 18,960.32 17,930.60 27,129.02 52,319.02 3,323.99 10,766.74 38,124.88 40,247.88 35,800.16 55,087.16
BS-PCASH Petty Cash 1,100.00 1,100.00 1,100.00 1,100.00 1,099.55 1,100.55 1,100.55 1,100.00 1,000.00 1,100.00 1,000.00 900.00 1,000.00
BS-300 Other Cash Accounts - - - - - - - - - - - - -
Total Assets 81,430.00 113,910.00 120,025.74 136,790.32 151,200.15 150,542.57 140,169.57 165,553.99 162,266.74 161,294.88 166,547.88 166,250.16 193,202.16
On
On this
this sheet:
sheet:
This
This monthly
monthly balance
balance sheet
sheet isis automatically
automatically calculated
calculated based
based on
on the
the transactions
transactions that
that are
are
Equity & Liabilities entered
entered on on the
the Income,
Income, Expenses
Expenses and and NonCash
NonCash sheets
sheets and
and the
the inventory
valuations that
that
BS-800 Share Capital are
100.00 entered on the
100.00 InvValue sheet.
100.00 No user input
100.00 is required on
100.00
are entered on the InvValue sheet. No user input is required on this sheet. Allthis sheet. All
100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
BS-RETAINED Retained Earnings - Previous Period transactions
transactions
28,602.00 are allocated
allocated according
are28,602.00 28,602.00to
according to the
the default
default balance sheet
sheet report
balance28,602.00
28,602.00 report categories.
categories.
28,602.00 The
The28,602.00 28,602.00 28,602.00 28,602.00 28,602.00 28,602.00 28,602.00
BS-PROFIT Retained Earnings - Current Period monthly
monthly-reporting periods
periods are
reporting5,853.63 are determined
determined
12,891.52 based
based on
on the
17,428.62the report
report start
start date
34,627.73 date input
input cell
cell on
33,459.34 on the
the18,656.66 31,021.06 35,616.05 52,806.59 48,355.26 48,508.79 43,926.27
BS-900 Reserves - - -Set-up
Set-up sheet.
sheet. - - - - - - - - - -
BS-700 Long Term Liabilities 50,000.00 49,380.00 48,760.00 48,140.00 47,520.00 46,900.00 46,280.00 45,660.00 45,040.00 44,420.00 43,800.00 43,180.00 42,560.00
BS-CREDITORS Trade Creditors 982.00 26,073.26 27,571.42 38,985.72 37,208.58 36,360.00 45,868.58 55,560.00 49,598.86 36,276.00 43,681.72 41,140.00 68,948.46
BS-500 Other Creditors - - - - - - - - - - - - 3,900.00
BS-600 Sales Tax Control 1,746.00 3,901.11 2,100.80 3,533.98 3,141.84 5,121.23 662.33 4,610.93 3,309.83 (909.71) 2,008.90 4,719.37 5,165.43
Total Equity & Liabilities 81,430.00 113,910.00 120,025.74 136,790.32 151,200.15 150,542.57 140,169.57 165,553.99 162,266.74 161,294.88 166,547.88 166,250.16 193,202.16
Page 36 of 36

Trading Accounting Sample

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Trading Accounting Sample

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The following sheets are included in the template:

New bank accounts

Recording Transactions - Income

Recording Transactions - Expenses

Recording Non-Cash Transactions

Recording Transactions - Transfers between Bank Accounts

Monthly Income Statement & Cash Flow Report

Annual Income Statement & Cash Flow Report

Roll Forward for Subsequent Financial Periods

Help & Customization

Business Name Example (Pty) Ltd

Sales Tax Percentage 14.0%

Input Error Codes

Reconciliation Date 2/28/2018

Current Month Transactions

Actual Bank Statement Balance 41,307.16

IS-400 Depreciation - - - - - - - - - - - 3,800.00

Working Capital Changes

Cash Flow from Investing Activities

Opening Stock 22,310.00 - 22,310.00 - 27,650.00 -

Gross Profit 363,779.46 37,510.00 363,779.46 37,510.00 41,106.60 37,510.00

IS-400 Depreciation 3,800.00 - 3,800.00 - 3,800.00 -

Net Profit 43,926.27 37,510.00 43,926.27 37,510.00 (4,582.52) 37,510.00

Working Capital Changes

Cash Flow from Investing Activities

Net Cash Movement 35,367.16 19,720.00 35,367.16 19,720.00 19,287.00 19,720.00

Cash at beginning of period 19,720.00 - 19,720.00 - 35,800.16 -

Cash at end of period 55,087.16 19,720.00 55,087.16 19,720.00 55,087.16 19,720.00

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