👉LEARN CHART OF ACCOUNTS, DOUBLE ENTRY ACCOUNTING, GENERA LEDGER & TRIAL BALANCE IN EXCEL.

A well-designed chart of accounts can impact the accounting cycle that results in the preparation of financial statements.
The accounting cycle starts with making daily entries of your business transactions into the books of accounts using the double-entry accounting principles.
In this training, You will understand the concept of debit and Credit which is the core of double-entry accounting.
You will also learn how to use Excel features and functions to make accounting entries from general journal through to trial balance.
In the second part of this training, you will learn how to prepare Financial Statement from the Trial balance.
To practice, download the workbook here 👇
accountingonex...
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If you are a beginner in Excel, I have a free course that will help you get started here 👇
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How about a template that helps with your bank reconciliation?
Interested, check it out here 👇
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Are you in a business that converts raw materials into finished goods?
Then you will love to check out this template 👇
• 👉RECORD-KEEPING EXCEL ...
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Want to learn how to design simple Excel templates and how to use pre-designed templates, check it out here 👇
• 👉HOW TO EASILY TRACK I...
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[@AccountingOnExcel]

Share your thoughts here in the comment section.

[@danielonyedikachiokwandu6927]

Please can you share a video on using Excel for Inventory account

[@AccountingOnExcel]

kzbin.info/www/bejne/qKS8lJ-bl8epZ68si=xvdR54vfJjogYOkg Check the above link for a tutorial on inventory

[@harjith.d.bubber]

🙌

[@danielkariuki-q3w]

I am Dr. Karani from Nairobi, Kenya. This is wow. You have solved a big problem just simply. I now have additional clarity on simplifying accounting work. Thank you and continue.

[@nikthepupperkiller410]

i think this is the best way to learn accounting by building templates and explaining the rolls of the sheet and account. Thanks i learned so much by watching this..

[@danielonyedikachiokwandu6927]

Heroes don't wear capes Thank you for the video

[@AccountingOnExcel]

Thank you for the kind words 🤗 Deeply appreciate 🙏

[@monirajv]

Very Useful tutorial, and Thanks for sharing your knowledge and the workbook

[@AccountingOnExcel]

Glad you got value. Thank you for the feedback

[@jeromebarns6151]

Thank You! Thank You! Thank You! You are a wonderful generous human. May God bless you and I hope you prosper in everything you do ❤

[@AccountingOnExcel]

Amen 🙏 Thank you for the kind words.

[@freddykashimba1521]

Very educative indeed.....keep it up !

[@JenniferTenney-x3r]

THANK YOU! This was a life saver!

[@AccountingOnExcel]

You are welcome. Glad you got value.

[@IamEffiom]

I'm a Radiographer with a touch of software development This really helped my mental health Thanks, and God bless you 🙏

[@AccountingOnExcel]

Glad it helped

[@ivanthomas6262]

Life saving Wow!

[@kalongokazenene8711]

Thank you for your excellent lessons. By following your instructions am able to do work which am proud of. You have saved my life. I really appreciate. I cant thank you enough

[@AccountingOnExcel]

Thank you for the feedback. Glad you got value ♥️🤗

[@technovaganza7063]

Lucid explanations!!!! Thanks alot

[@AccountingOnExcel]

Thank you for the kind words. Glad you got value.

[@moseschikhala5301]

You have made everything look so simple! Thanks

[@AccountingOnExcel]

Glad you got value. Thank you for the feedback

[@oladean6375]

Thanks for the lecture, Emeka. You did very well.

[@AccountingOnExcel]

Smiles🤗… Its Amaka, not Emeka Glad you got value. Thank you for the feedback

[@ravisanas3110]

You are the are teacher I am waiting for years ❤❤

[@AccountingOnExcel]

Thank you for the feedback and kind words 🤗😊 Glad you got value.

[@nalinfernando5993]

Nice work, really appreciate it

[@olunaija5620]

Awesome and very helpful .. 👏👏 thank you

[@AccountingOnExcel]

You are welcome. Glad you got value

[@somukienibilly1456]

Many thanks for the Video. I am particularly impressed by the moderate steps taken to make the tutorial beneficial to beginners. Speech clarity was top-notch. Thanks again

[@AccountingOnExcel]

Glad you found this helpful. Thank you for the feedback and kind words 🙏

[@asarerebeccaakosuaowusua5339]

Thank you

[@pauldoff5464]

Thank you for the class, indeed I enjoyed the lecture and I really loved the way you simplified the terms.

[@AccountingOnExcel]

Glad you got value. Thank you for the feedback. I really appreciate 🙏

[@understandthewordsfeelthes3036]

Helpful information 👍👌

[@iamonlygirl]

Excellent information. Thanks

[@AccountingOnExcel]

Glad you got value. Thank you for the feedback.

[@fortunenwokosi-vp8md]

This is awesome, thank you

[@AccountingOnExcel]

You are welcome. Glad you got value

[@oladean6375]

Amaka, you're my hero, the format is fantastic. Thanks, for sharing your knowledge with us.

[@AccountingOnExcel]

Smiles🤗🤗 Glad you got value. Thank you for the feedback

[@subairvc616]

Awesome ❤

[@AccountingOnExcel]

Glad you got value. Thank you for the feedback

[@giftdubeka8935]

Very helpful information. I need more time to learn from you madam

[@AccountingOnExcel]

Thank you for the feedback. Yeah, just create the time and practice along.

[@WorldCommunity786]

nice work continue your efforts i appreciate you

[@AccountingOnExcel]

You are welcome. Thank you for the feedback

[@sizomabu1036]

Thanks very much

[@AccountingOnExcel]

You are welcome. Glad you got value

[@danielalphonsussumbi1049]

Very impressive. I am hight enlighten by this video...

[@AccountingOnExcel]

I am glad you got value. Thank you for the feedback.🤗

[@e-vatax]

I am from germany watching your videos and I love them. These are help for me to make my own videos for German Accounting videos.

[@AccountingOnExcel]

I am glad you got value. Thank you for the feedback.

[@DONSOLAS]

Thank you very much. The video was helpful. I need an excel video for beginners.

[@AccountingOnExcel]

Glad you got value. Thank you for the feedback. Here is a beginners training playlist 👇 kzbin.info/aero/PL5vOIKGPGFFhhUVuE0jIrYIOSjGc7UkkP&feature=shareb

[@Mr.IsmailAbiodunOni]

This is great...thank you

[@AccountingOnExcel]

You are welcome Glad you got value

[@marksmith4512]

I completed the entire lesson and recreated the spreadsheet it was very exciting and helpful. Thank You!

[@AccountingOnExcel]

Glad you got value and was able to replicate same. Feel free to share 🤗

[@marksmith4512]

I Just wanted to comment that instead of wrapping the cell with if "", ''" you can use the iferror function within google sheets@@AccountingOnExcel

[@PeterNditi]

Thank you very much madam, it has helped me a lot

[@AccountingOnExcel]

You are welcome Glad it helped 🤗

[@abubakarolayiwola3188]

Thank you so much ma for the awesome lecture. I will like to have the dataset for practicing sake. Thanks

[@gracebosco2976]

Thanks a lot its easy to follow the video. I will try to work out that using the download file

[@Khadok360]

I am from Bangladesh i watching your video and i Learn chart of accounts

[@AccountingOnExcel]

I am glad you got value. Thank you for the feedback

[@AdelajaRaphael]

This is helpful for the basics. Thank you In addition, Vat output needs to be considered in your sales.

[@AccountingOnExcel]

You are right. In this training, we focused on the basics. Check out this playlist on Cash book manager. The template handles this aspect 👇 kzbin.info/aero/PL5vOIKGPGFFgQE1rUcmjwGxKJO7sHUZys&feature=shareb Thank you for the feedback. Thanks for engaging.

[@MdAlaUddin-wj3bz]

Thank you mam❤️

[@AccountingOnExcel]

You are welcome

[@marksmith4512]

I love this so much!!! Thank you! IS there anyway to automate the double entries like quickbooks

[@AccountingOnExcel]

Thank you for the kind words. Based on your specificatio, a custom template can be designed.

[@shahriarchowdhury3276]

This is a newly started business for the first year. What about for second year? How could an ongoing business adopt this? Where will be the entry of capital, opening cash balance, opening stocks, opening bank balances, assets, drawings, depreciation, etc., and how those are calculated? Please reply as soon as possible and describe to us elaborately. We anticipate your continued cooperation. Thanks.

[@IkeoluwaOlojede]

Thanks this was helpful please do you have a budget video and format

[@AccountingOnExcel]

Glad you got value. Thank you for the feedback. No video on budget yet. Hope to have one soon. Just keep your eyes on this channel 🤗

[@ademuyiwaadebanjo8201]

Thank you, this such great effort. Ma, how can one run a monthly report with the knowledge from this class. We used May 2023 as case study. what if i have my transactions running from january to june . Thank you

[@AccountingOnExcel]

You are welcome. Glad you got value. You will have to create opening balance for your trial balance then do a little twerk on the formula to capture such balance.

[@ademuyiwaadebanjo8201]

@@AccountingOnExcel wish you could do something on this ma.

[@asarerebeccaakosuaowusua5339]

Please what happens when your data is more than a month and to check the general journal every month

[@AccountingOnExcel]

The slicers will update automatically and you can easily see buttons for each month. Give it a try and see the impact. Ensure you follow through the steps shown in the tutorial

[@marksmith4512]

You can use the iserror function to eliminate the N/a errors

[@akinofe]

Amaka, this is great instruction. I normally have done it from scratch for each of my clients. But there is such wisdom in automating the functions from Chart of Accounts all the way to financial statements. Am going to try to recreate this in prep for my clients. Good work.

[@pumpkin_mustard4886]

I think this is amazing! Great Job. One problem I cant seem to get a trial Balance I keep on getting a #Ref I dont think I did anything wrong .. Maybe you can help me figure it out THANKS!

[@AccountingOnExcel]

Thank you for the feedback. A #Ref error shows a cell that a formula reference was deleted. Kindly do a second check carefully.

[@pumpkin_mustard4886]

@@AccountingOnExcel it would be great if you put a template together for a nonprofit in excel

[@sandyy9765]

I can’t download the file, could you please share again ❤

[@BashirAhmad-o2x]

Please Ma'am, can i have the tamplate to download please

[@samvargo7124]

Thanks so much for the great information on accounting in excel. I have a trial balance I need to enter to get started. Do I enter it in the column ‘Trial Balance’ on the Account Set-Up & Trial Balance spreadsheet or on the Journal Entry General Ledger spreadsheet? Thanks so much.

[@AccountingOnExcel]

I am glad you got value. For the opening balances I will advice you use the General Ledger to capture it.

[@marcelkalonji6866]

Amaka, I thank you for your tutorial. I am Marcel from the DRC. Could you end that lesson by establisshing the Cash-flow statement ? Many thanks, Marcel

[@ronaldopascua8221]

Are Non Current Assets/Liabilities the same as Fixed Current/Liabilities?

[@AccountingOnExcel]

They are not the same but are all Assests and Liabilities as the case may be.

[@technovaganza7063]

Thanks mam for the video but unfortunately link for the workbook is not working.

[@AccountingOnExcel]

I will check it out and revert. Apology on that

[@akinofe]

Amaka, I wonder if you can make a video of data validation with multiple or dependent drop down list. For instance if my account name is Other Expense, Can I select another list of accounts (or sub account names) that are related to Other Expenses. For instance if one selects Other Expense, can they have a choice of selecting in another column some accounts (Telephone, Supplies, Bank Fees, etc) that are related to Other Expense. I don't know if am making sense?

[@AccountingOnExcel]

Here is a video that answers the concerns raised👇 kzbin.info/www/bejne/fn29h3yVnLKYfbM&si=0kGO-uGmYBQDEV42 Hope it helps

[@NaalleeyeExplains]

When you sold 5 units of Perfumes with total of 50,000, and the cost of goods sold of 5 units is 30,000! Then why? The COGS is a part of 50,000 so if 1 unit's cost 10,000 then its 5 units will be 50,000? So what is the COGS? 27:55

[@AccountingOnExcel]

The cost of one unit is 6,000 and the selling price is 10,000. For the sales of 5 units, the cost of sales will then be (6,000*5) which is 30,000 When you deduct the sales from cost of sales, you are left with Gross profit. Hope this answers your question?

[@iamonlygirl]

Is line 15 supposed to be 100,000?

[@gamingwithangrybirds8257]

Where can i get this file? Could you please provide file for practice

[@AccountingOnExcel]

Check the comment section for the link. Glad you got value

[@prasadbhaste9067]

website not open

[@AccountingOnExcel]

Apology on that… Will get it back soon Working on it

[@qaziqaisir2344]

Please share sheet

[@AccountingOnExcel]

Kindly check out here 👇 www.accountingonexcel.ng/blog

[@DONSOLAS]

i cant see insert slicers on my excel

[@AccountingOnExcel]

First, you need to be certain your data is in an Excel table, then select any cell within the database, notice the table option on the menu bar, click on the design tab, you will see the “Insert Slicer” option in the tools section. There you go. Thank you for engaging.

[@SamuelMegan-k4f]

Smith Donna Johnson Donald Allen Gary

[@SomeName787]

I have no clue about accounting. Whatsoever! I just found this video interesting and started watching. Of course, for a novice like me it was kinda confusing, but I was able to follow fairly well. However, I don't understand the entry done in the portion of the clip from approx 29:00- 30:40. It is about "Part Payment to ABC Ltd". If general rule is that Assets are debited and Liabilities credited, why did you switch those two in this example? (for easier following, those are rows 20 and 21 in your Journal sheet) Why did you credited Current Liabilities and credited Current Assets? I thought it should be other way round, following your initial explanations (at 2:30), but after this entry I lost it completely...

[@AccountingOnExcel]

Your concern is well understood. Thank you for taking time to go through the tutorial. As stated earlier in the training. Default entry for assets is debit - this means whenever there is an increase in assets you debut the account. When there is a decrease in assets you credit the same assets account to recognize the decrease. Same applies to Liabilities which has a default credit balance - meaning any transaction that will increase liability should be credited while any transaction that will reduce liabilities should be debited.