👉PROFIT OR LOSS & BALANCE SHEET STATEMENT IN EXCEL

Рет қаралды 7,942

Күн бұрын

Financial Statement is the final output of an accounting cycle
An accurate accounting entry from the Journal to the Trial balance will produce a seamless profit or loss statement and Balance sheet statement.
This training is a continuation of "How to Design Charts of Accounts, Journal, General Ledger and Trial Balance".
You will also learn how to use Excel features and functions to prepare Financial Statement from the Trial balance.
Watch the first part of this training here 👇
• 👉LEARN CHART OF ACCOUN...
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 👇
• Video
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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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Пікірлер: 32

@AccountingOnExcel Жыл бұрын

You should watch the part one before watching this. Here is the link to the first part of this training👇 kzbin.info/www/bejne/n6GvoYl4g5d5j9E&feature=shareb

@raptorscrest9239 Ай бұрын

Thanks for your training and your Templates!

@AccountingOnExcel Ай бұрын

You are welcome. Glad you got value

@asad_nazir Жыл бұрын

Different and unique Techniques 🤗

@khinmaungtun4810 11 ай бұрын

Thank you very much for this sharing and I feel your professional accounting guiding is a huge helpful to me.

@AccountingOnExcel 11 ай бұрын

You are welcome Glad you got value

@understandthewordsfeelthes3036 10 ай бұрын

Helpful information 👍👌

@nadininikeshala3133 8 ай бұрын

Thank you👌

@slminc Жыл бұрын

Interesting training Amaka! Great Job!

@AccountingOnExcel Жыл бұрын

Thank you for the feedback. Glad you got value

@shahriarchowdhury3276 2 ай бұрын

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.

@AccountingOnExcel 2 ай бұрын

Smiles… Thank you for engaging. This tutorial did not cover the aspect of your concern. However, a little tweak can be done to accommodate existing business and how to capture beginning balances. Hope to cover this in another video as text explanation will not do justice to it.

@hussainsabbier6693 Жыл бұрын

It's helpful for me, thanks.

@AccountingOnExcel Жыл бұрын

You are welcome… Glad you got value

@chukudiNwachuku 15 күн бұрын

Thank you for the lecture, ma. However, why did you use the Charts of Account to prepare your trial balance instead of the Journal Entries sheet? Can't we have our trial balance on the Journal Entry sheet instead?

@AccountingOnExcel 15 күн бұрын

Glad you got value… Looking at the journal entry sheet, you will notice there is a control that ensures every transaction entry balances off. In regards to your question, the trial balance can also be generated from the journal entries. This we did using the chart of account which makes up our general ledger. You can also generate on a different sheet if you so wish. It is not cast on stone. Thank you for engaging.

@chukudiNwachuku 15 күн бұрын

@@AccountingOnExcel Thank you so much

@utube201091 7 ай бұрын

This is very helpful to prepare transaction reports. And, would you, please continue with preparing the cash flow statement and financial ratios analysis, so that it will be complete package of the report?. Thank you!

@AccountingOnExcel 5 ай бұрын

Your request is well noted

@akinofe Жыл бұрын

Good work again Amaka. It is interesting to see how formats are different in the Nigerian system of financial statements and the US System. Here we put Current accounts first and Non Current accounts below in the Balance Sheets. But its all presentation preferences. I enjoyed it. I hope to be able to automate and have the financial statements automatically populate... with minor tweaking as needed. Thanks again. My name is Femi

@AccountingOnExcel Жыл бұрын

Thank you Femi for the feedback. Regarding the structure I believe is same. We start with the current too. Guess I did not take that into consideration when putting up this training. Well noted! Having the financial statement populate automatically is possible with minor tweak as you stated. Hope to share better ways soon 🤗 You are welcome. Thank you once again.