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Sample Spreadsheet For Small Business

Excel Spreadsheets Small Business For Sample Spread Spreadsheet Balance Sheet Accounting

By Kayley Sparks on October 10 2018 02:29:44

Many people would love to simplify their budgeting process. However, since many cannot use the Excel worksheet, there has been a desire to have an easily available and user friendly budgeting spreadsheet that would enable you budget with ease. Many versions of these spreadsheets are available and can easily be used with Microsoft Office such as Excel hence making it easy for many people.

An accountant needs to not only ensure the financial records are accurate but also retrieve any part of the accounting records to answer accounting questions on the accounts, provide a legal basis for the transactions and report the financial statements at regular periodic intervals. The small business has different accounting needs which are better described as bookkeeping than accounting. For non limited companies that do not need to produce a balance sheet then a simple income and expenditure account can be produced much simpler using single entry bookkeeping principles.

One important column to also include is for asset purchases as fixed assets usually have different tax rules applying to the claim of the expense against tax and should be separated from other expenditure. Having set up two bookkeeping spreadsheets the task is then to produce the income and expenditure account by collecting the totals of each of the analysis columns. The sales total is the sales turnover from which is deducted the totals of each of the expenditure classification totals with the result being the net profit and loss of the business.

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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