[Udemy] Excel Accounting Problem
What you’ll learn
The right way to navigate Microsoft Excel or different computerized spreadsheet like Google Sheets
The right way to create an accounting system in Excel from a clean worksheet together with a common journal, trial steadiness, common ledger, subsidiary ledgers and extra
The right way to enter journal entries associated to widespread transactions and checklist the info enter types typically used to enter them into accounting software program like QuickBooks
The right way to enter two months price of knowledge enter into our accounting system
The right way to do two month of financial institution reconciliations, evaluating the method to how accounting software program like QuickBooks would accomplish the duty
The right way to enter interval finish adjusting journal entries
This course will stroll via a complete accounting downside utilizing Microsoft Excel in a step-by-step course of. You might also use one other spreadsheet software program like Google Sheets.
Learners will discover ways to navigate Microsoft Excel in addition to how you can create a well-designed accounting worksheet, full with a common journal, trial steadiness, common ledger, subsidiary ledgers for accounts receivable, accounts payable, & stock, monetary statements and rather more.
Excel is an excellent software to be taught accounting as a result of it’s rather more clear than a database program, like accounting software program, QuickBooks being a standard instance of accounting software program.
As we enter transactions into our Microsoft Excel worksheet, we’ll talk about how the info enter would generally be entered into accounting software program like QuickBooks and what information enter types would usually drive the transactions.
The course will begin out from a clean Excel Worksheet. We’ll construct the define for our accounting system from the clean spreadsheet.
For every new step within the course of, you should have entry to a downloadable Excel Workbook, containing a minimum of two tabs, one with the reply, the brand new steps being accomplished, the opposite beginning out the place the prior presentation left off.
Due to this fact, you possibly can full the complete downside ranging from one clean spreadsheet, or you possibly can soar ahead in the issue and rework any element of the issue by downloading the associated worksheet at that time within the course of.
After setting up the define of our accounting worksheet, the primary part will talk about the commonest accounting transactions and the info enter type typically utilized in accounting software program, like QuickBooks, to enter them, widespread information enter types together with bill, invoice, deposit. . .
We’ll then begin our complete downside, setting up a brand new Excel worksheet and getting into starting balances into it, imagining that we had a previous accounting system which we are actually changing to our new accounting system in Excel.
We’ll then enter two-months price of knowledge enter. When getting into the accounting information we’ll create the journal entry, put up it to the trial steadiness, giving us a great have a look at which accounts are impacted, put up to the overall ledger, and make changes to any subsidiary ledgers wanted.
We may even replace the monetary statements periodically.
For the second month of operations, we create a bit extra complicated trial steadiness, permitting us to calculate each the year-to-date numbers, together with each months of knowledge enter, and the present interval numbers, displaying earnings assertion accounts for simply the second month of operations.
After getting into two months of knowledge enter, we’ll course of two financial institution reconciliations, utilizing mock financial institution statements. As we assemble our financial institution reconciliations, we’ll talk about how accounting software program typically accomplishes this job.
Subsequent, we’ll regulate our worksheet to enter interval finish adjusting journal entries in addition to reversing entries. For every adjusting entry we’ll take into account the explanations for it and how you can arrange the accounting system in order that our adjusting entries don’t mess up the info enter course of within the accounting division.
After getting into the adjusting entries we’ll assemble our monetary statements.
Who this course is for:
- Anybody who desires to be taught Excel, actual world follow issues being one of the best software
- Anyone studying accounting or bookkeeping
- Anyone who makes use of accounting software program like QuickBooks and desires to grasp what the software program is doing