How to automate Accounting Ledger, Trial Balance, Income Statement, Balance Sheet in Excel | English
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- เผยแพร่เมื่อ 15 พ.ค. 2024
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In this video you will learn how to create and automate accounting entries (General Journal), ledger, Trial Balance, Income Statement, Balance Sheet in Microsoft Excel and maintain accounts in more advance way in very detail.
You will also learn the advance features of Table including naming the tables, Pivot Table, slicer and Accounting Concepts and unfold the advance method to do accounting in excel.
After watching this video, you will be able to do following:
How to create accounting General Journal in Excel?
How to do bookkeeping in Microsoft Excel?
How to create automated Ledger in Excel?
How to create Trial Balance in MS Excel?
What are financial statements in accounting?
How to prepare financial statement in excel?
How to prepare Income Statement in Excel?
How to prepare Balance Sheet in Excel?
What is the complete accounting cycle?
Accounting Software in Excel
How to create Table in Excel?
What are advance features of Table in Excel?
how to create customer and party ledger in excel?
How to maintain Income and Expense with PROFIT & LOSS in Excel with accounting ?
How to Create Debit and Credit Account Ledger in Microsoft Excel?
How to create Day Book Report in Excel?
How to post journal entries to general ledger accounts in Microsoft Excel?
What are common accounting question in interview?
How to use Pivot Slicer in excel?
How to use advance formatting in excel?
This Video is essential to watch for every person including students, officers and business person.
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Chapters:
00:00 - Introduction of Excel Accounting
00:50 - Develop Chart of Account and General Journal in Excel
06:07 - Posting Transaction Double Entries in to General Journal in Excel
26:14 - Automate Accounting General Ledger in Excel
33:39 - Automate Trial Balance in Excel Accounting
35:21 - Prepare Income Statement in Excel Accounting
48:29 - Prepare Balance Sheet in Excel Accounting
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#bookkeeping #excel_for_accounting #ledger_in_excel
#book_keeping_&_accountancy #accountant_work_in_office
#accounting_excel #excel_accounting_tutorial
#ledger_account #excel_accounting_software
#journal_entries_accounting #how_to_make_ledger_in_excel
#accounts_in_excel #book_keeping #ledger_accounts #excel_ledger #how_to_use_excel_for_accounting #bookkeeping_in_excel
#accounting_software #trial_balance
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#bookkeeping_excel
#day_book_accounting
#balance_sheet
#how_to_maintain_account_book
#accounting_journal_entries
#how_to_do_bookkeeping
#general_ledger_and_trial_balance
#ledger_book
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#account_in_excel - วิทยาศาสตร์และเทคโนโลยี
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That's a great help thanks
Please help me. My vlookup formula from sales and trial balance gives me errors. And I don't know how to fix this. Please help
Check that all spellings correct and no spaces.
@@ngueukamcharleneaudrey457
@@ngueukamcharleneaudrey457 same problem
pls help me
This guy just taught y''all Accounting in just an HOUR Bravo bro
The video was excellent, presenting the content in a straightforward and uncomplicated manner. I gained a wealth of knowledge from it, and the concepts were made easily understandable.
Thanks bro. I'm a Finance Professional but for some reasons forgot all these things but due to this video i remember the basics plus it is in MS Excel and not any other fancy software. So many thanks.
you are awesome man! You taught accounting to non-account stream people in simplest possible way.
This is a standard video on excel. you have done a great job in showing how to write up a final account with excel.
well done sir
I thought I knew excel but you taught me quite a few things plus a crash course in accounting. Great job!
most welcome
you have performed all the steps in very easy steps. The method of teaching was awesome.
Just what I needed to get the accounting cob webs out. Thank you so much!!!
You are a LEGEND!!! THANK YOU SOOOO MUCH! You have saved me time and energy and added value to my business
You r most welcome.
We can add more value in to business.. contact at exceldoers@gmail.com
IM ADDICTED AT YOUR VIDEOS. IVE LEARNED ALOT. THANK YOU FOR SHARING YOUR TUTORIAL
This is awesome work. Not many presenters show and demonstrate the entire process of accounting acycle work. You also completed with free excel templates. Keep it up.
excel template is not free
The best ever Excel presentation I watched. It made alot of things easier. Thank you. Also do one for complex entries
Thanks for admiring our content. Yes that is in plan for next videos.
I'm an economist but has little knowledge of accounting with excel. This wonderful piece is highly explanatory and easy to understand. This is a free rare gift. Thank you for this great job. Much love from Nigeria❤
Thank u sir. It is an honor having u on our channel. Explore our channel for more such rare gifts.
@@EXCELDOERS Thank you. For restaurant, sales (will it include sales tax?)
and cost of goods sold (will this be a purchased goods for making a sale).
If restaurant makes monthly gross sales $600k in Sep.
When they buy foods, food ingredients, kitchen supplies, do they all include cost of goods sale?
Or kitchen supplies going to expense or equipment?
@@louietoltolvlog9699 no, look if we talk about it from accounting perspective, there are some costs which we call production costs which we include in inventory and ultimately charge them to cost of sales and there are some other costs which we call non production costs which are charged to statement of profit or loss for the period like administration, marketing and selling costs. Coming to your question, kitchen supplies for a restaurant which serves food would be production costs thus charged to cost of sales. In accounting we actually absorbs those costs in the products we produce because of certain financial reporting requirements to value inventory however for simple business like a restaurant you should charge them to cost of sales.
@@louietoltolvlog9699 costs of sales will include all costs including opening inventory, purchases during the month and wages of workers producing and serving food less closing inventory.
Here is the formula
Cost of sales = Opening inventory +
Purchases during the period +
Wages of workers -- closing inventory
And yeah, if restaurant is required to pay income tax on earnings then this will include it if not then you don't need to include income tax.
Thank you so much! I love how you present it. I learned more about Excel and can now use it for my bookkeeping. I wish you include a Statement of cash flows up to closing. Thank you😘😘😘
Video Uploaded for cash flow statement
th-cam.com/video/rwgzbYR8z2Q/w-d-xo.html
I have been looking for this kind of things since 2015. Thank you so much for posting it.
My pleasure. Explore more on our channel and share with friends
Great tutorial and just long enough to be comprehensive so thanks for this.
FANTASTIC!! I was looking for this type of information for months, and finally found it! Thanks!
Really liked the tutorial. Finally I can do my own books. Thank you so much
All the best.
Excellent video + For balance Sheet we can add a little bit of work to automate it combining countif formula making it dynamic count and v lookup fixed assets current assets to make to more automatic and smooth.
I agree it will make the work more complex for beginners to intermediate excel users.
Anyhow Thanks for the efforts.
Love & Peace ❤️
Great video, simple and to the point. Been waiting for something like this. You have most definitely earned a subscriber!
Welcome to the community. More to come ahead.
@@EXCELDOERShello i need your help bro . How can i get next quarter of month income statement
thank you so much for your response. i want to ask about the Dashboard on this system
your effort is really appreciated, thank you so much from Egypt
THANK YOU! Very clear explanation. Well done !
This is awesome. The best Excel TH-cam channel I watched so far.
Thank you for bring part of this community by subscribing to our channel.
If you were my accounting teacher i would have became a CA
Thank you, easy to follow the presentation.
Thank you for the presentation.
Can you please incorporate the Cashflow Statement as well as the Statement of Changes in Equity.
Will be glad.
Thanks. Yes stay tuned. Coming in next video. Share with ur friends. :)
Your skills have the potential to enhance my work significantly.🙂🙏
jazak Allah khair brother,, highly knowledgeble and remarkable video..
Thank You for the great excel lesson. Learned so many things.
So great!. Thank you for this video. 🙏
i had to refresh my excel skills and your video really helped me a lot. great tutorial.. much appreciated.. thanks.. thanks..
Most Welcome
Wow! Quite interesting and well understood. You're a great teacher!
This video was an absolute gift. Thank you so much for teaching such valuable information like this.
You are most welcome. Stay connected and explore our channel for more gifts inside.
Sir do you have this excel sheet available for download on your website.?
I am now a fan of your hard work.
Really great video! Explained very well. Thank you!
Thank you sir for this I am an accounting student. I have learnt from this lesson more I did in the school so far .
Great to hear that. Our schooling system is really far behind.
Thank you brother great job. can you please show how to close entries and set date range. tks again
Wow! bravo you kill it man everything well explained and understood thank God for crossing this video
I learned a lot from this. Thank You so much.❤
Creating my own accounting workbook to play around with. Thanknyou so much!
My dear you are awesome ❤. I was looking for this for my new company and finally I found here. Thank you so much
What a great work Sir, this is such a simple and huge knowledge of accounting process as well
Thank u :)
What a great and precise explanation of full cycle accounting in a clear way and top of that great usage of excel.
Great job sir 🙏👏👏
Thanks. Explore our channel u will find more stunning usage of excel
Very Good Presentation. Thanks
really u did great usefully jobs which is helpful a lot...Many thanks
Great video. Easy to understand and implement. Any tips on entering existing trial balances?
Very good tutorial. Thanks so much.
Great job , very helpful 👏
Maa Shaa Allah
Allah Bless You
Regards from Muscat Oman
Ameen.
WOW, thanks for the tutorial! Love it ❤
That what we call excel ninja 🔥.
If i do like this, can i get P&L and BS for specified period? and how can i enter opening balances?
Thanks to your video. Just have used it to organize my LLC accounting 🙌 The only problem I’m facing is my journal has around 600 entries and Excel is getting slower. Anyway I can handle that.
Great effort Sir thank you so much 👍
hello sir, thanks for this excellent presentation.
do u hv any vdo for any assciation/club/organization such like NPO-Non Profit Organization?
Fantastic; extremely helpful!
That's really great, particularly being able to prepare it in just one hour, whilst explaining as you went along.
If I were to carry on from here, I'd add a user form, to make data entry much quicker and easier. I could write code to make it impossible to input data that didn't balance.
If you used pivot tables for the income statement and balance sheet, I guess you could make it more dynamic, and with some code, you could get the user to enter the date range.
I was looking for an easy way to build a ledger and link to TB. This is by far the BEST tutorial for that! Thank you!
Thank u
Great work brother ❤
You created best video thanks alot
But I have a doubt can we add inventory items
what an excellent presentation - amazing
Thank you.
better to watch and do using another pc to follow. very useful. thank you
Thanks for the work done I have learnt some topics in Accounts.
Because of this video!❤I do subscribe you sir.Salute!
Thanks for sharing such a valuable information and easy accounting with us. I have a question with respect to sales refund. What would be the Journal general entries for sales refund i.e. a customer bought a product but after some time returned the product unopened and 100% refund was issued to the customer?
This is called contra revenue account
Entry
Sales Return 100,000 DR
Cash 100,000 CR
Description: refund cash to xyz against sales returns
In PNL:
Sales xxxx
- sales return xxxxx
= Net Sales
Whaoo. This is great indeed. I would have love you to add Fixed Asset with Drepreciation, so that Accumulated Depreciation Expenses can be seen in the Income Statement and Net Book value can be seen in the Balance Sheet.
Do you have a complete course all use of excel for accounting professionals... like financial reporting etc....
Thanks for this insightful content
Our pleasure!
Excellent Trial balance and GL prep in excel. Pl include with multiple cash and bank book entries
Many thanks
Great explanation. Thank you sir👍
Thank you for this wonderful video.
Thank you so much! I love how you teach
U r most welcome
Thanks for this great video, I have a request from you can you please make same video with opening balances as well because I tried myself but was not able to make it professionally. Thanks in advance
Yes I'm having the same concern, as how to handle the Op. Balances for accounts in coming years / months. If you got any solution withing this template pls let me know. Thanks.
very constructive Video love it Thanks 😍
Thanks
Thank you so much!!! Can I apply this to keep track of rental income?
very good teaching, thank you very much
Helpful thank a lot , Jazak Allah Khair
Wow what a way to present Thank you so much
You are most welcome
good day to you bro! I love your teaching so much. ln fact I have learnt a lot and mostly how better to use an excel sheet for accounting but I have a question, hw will the new month transaction be separated from the old month transaction if i need to prepare a month end income statement.
Thank you for this, it help me alot on starting it. I do have a question.
If we are receiving money from clients it goes to Sales category right? Then how do we transfer it to cash or bank?
Excellent lecture. Please how can we add Opening balance in the General journal?
Simply enter ur opening Trial Balance in ur Journal
Thank you dear for very informative Video. Please guide in next video that how can we get Trial Balance, Income Statement and Balance sheet on the basis of Period. For example, next quarter started , and we want only current quarter calculations and neglect the previous one.
Yes that are in my plan
Thx you very useful
Only thing missing is cashflow statement would have been very helpful if cashflow statements was also added into the tutorial to close the loop end to end
Cashflow will soon come in next videos
Pls notify me when it does. Thank you. God bless you
Great work. Wouldl like to see next videos for Cash Flow Statement and Statement of Changes in Equity. Thank you.
Youve earned my sub and like. This is awesome
Awesome presentation.
Thanks
That's a great help. Please make the cash flow statement regarding this topic.
It is already there in seperate video
Awesome video and I'm very excited after watching it. But I'm little bit confused that what would be the Journal entries of opening balances of all accounts if we switch to this method. I mean how we can add all old values....
I hope you will understand,
If you make a video on this topic it will be a great favour to me.
Thanks.
You should have TB of old balances. Simply input the whole TB on 1st Day of Year.
@@EXCELDOERS Okay, You may explain it in a video.
I've watched many videos on your channel but didn't found any about this topic.
Kind regards,
Yes I'm having the same concern, as how to handle the Op. Balances for accounts in coming years / months. If you got any solution withing this template pls let me know. Thanks.
@@wsaeed97Simply Just paste the Trail Balance in Journal Entries Table, Dr values on Dr side and Cr values on Cr side
Hi. Whaf if therr is an adjusting entry? The ledger has to be adjusted,right? How do you automate it?
Really Usefull. Thanks a lot
Best Video brother. What about the next financial year? would we continue on with the steps you have shown or is there some additional Excel settings we need to put in for the next financial years...
thank you !!! how can post numerical and word data from excel sheet to differnt credit account ?
❤❤❤❤ Thank you for your surprising Video.
Love to surprise my audience with great content.
very nice, you have taught in very good way" Sumander ko Kozay main band karny wali baat hai. yeh sub accounts parhany waly student ko dekhna chahye.
This is awesome. Thanks for sharing, I learnt a lot from this
Most Welcome
You are the best teacher, it helps me a lot. But can you make video about car rental business accounting 🙏🙏
Thank you so much for the video sir. This is very much informative and useful
your most welcome
Quality Work that we benefied all