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Apache Openoffice Calc Online Spreadsheet Freewar Maker Editor Open Source Creator Free

Apache Openoffice Calc Online Spreadsheet Freewar

By Thurstun Beasley on October 08 2018 21:52:29

Less financial control is often required from small business accounting software as the bookkeeper is often the owner manager who already has an intimate knowledge of each transaction. Books are still required for tax purposes and a solid requirement of preparing a set of financial books for tax purposes is that each entry is supported by third party evidence. Examples of third party evidence would be sales invoices, purchases invoices and bank statements. Financial transactions where no receipt exists can still be entered in the business books although all transactions not carrying third party evidence could subsequently be disallowed for tax purposes and certainly would be if the amounts entered indicated unusual income or expenditure.

A directory of office templates is the place you can easily find a free budgeting spreadsheet for your small scale or personal use. This budget calculator will work well with excel hence its good if you can have them combined. You can create a budget for the whole year with the great help of this software. This will go a long way in ensuring that you make the right predictions that will guide you on your future spending. Especially when you will be having many things to handle that will cost you a lot of money, planning well in advance will help a lot. You can also budget on month basis hence enabling you monitor and control your expenses from time to time.

Usually tax returns are the main purpose of producing small business accounts and invariably some analysis is required to show what the expenses have been spent on. That is not difficult to achieve and as with the sales accounting the owner manager can add additional standard columns to the bookkeeping spreadsheet. The expenditure analysis columns do not need to be a different column for each type of expenditure. It is better to set up and group the analysis columns in general headings which can accommodate all the expenses. Such columns may include stock, other direct costs, premises costs, general administrative costs, transport and delivery costs, repairs and maintenance, travelling and hotel costs, motor costs, bank and legal costs and other expenses. It is better not to enter too many items under a general heading of other expenses as this is more likely to be investigated as the type of expense has not been precisely identified.

Producing an income and expenditure statement using single entry bookkeeping is little more than making two lists of financial transactions. Those lists being one of sales income received from sales invoices or receipts issued to customers and the other of purchase expenditure being from purchase invoices received from suppliers. To record sales income it would not normally be sufficient to simply add up the total of the invoices as such a summation does not leave an audit trail of the items which have been included. A written list of sales invoices does provide an audit trail.

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