By Reynald Greene on October 12 2018 18:28:53
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.
Spreadsheet templates are used for many reasons and each template vary according to the purpose it is used for. Spreadsheets are designed with different calculations depending on various needs. The templates designed to use for saving calculations varies according to the saving calculations made depending on the types of calculations to be made. These spreadsheets make the calculations and the data entry easier than doing it by any other format. The budget spreadsheets are little more advanced than the other as they have to undergo higher and tougher calculations and data entries.
Sales accounting for a small business accounting purposes can be either a manual list of the sales invoices or by using a spreadsheet package a list can be made on a bookkeeping spreadsheet. Using a spreadsheet for the bookkeeping has advantages as simple formula can be used to add up the column totals. The essential information to enter for a sales invoice would be the date of the sale, name of the customer, sales invoice number if applicable and optional a brief description of the item sold. In the next column would be the total sales invoice amount. If items like value added tax are required to be accounted for then an additional column would be required to accommodate the vat or sales tax accounting.
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