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.
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❤
@@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 $600k in Sep. When they buy foods, food ingredients, kitchen supplies, do they all include cost of goods sale? Or kitchen supplies going to expense or equipment?
@@louietoltolvlog9699 no, look if we talk about it from accounting perspective, there are some costs which we call production costs which we include in inventory and ultimately charge them to cost of sales and there are some other costs which we call non production costs which are charged to statement of profit or loss for the period like administration, marketing and selling costs. Coming to your question, kitchen supplies for a restaurant which serves food would be production costs thus charged to cost of sales. In accounting we actually absorbs those costs in the products we produce because of certain financial reporting requirements to value inventory however for simple business like a restaurant you should charge them to cost of sales.
@@louietoltolvlog9699 costs of sales will include all costs including opening inventory, purchases during the month and wages of workers producing and serving food less closing inventory. Here is the formula Cost of sales = Opening inventory + Purchases during the period + Wages of workers -- closing inventory And yeah, if restaurant is required to pay income tax on earnings then this will include it if not then you don't need to include income tax.
@@EXCELDOERS @38:31 How to do that Freeze thing? while selecting column C to E??? how to freeze them? >>>>>>>>>>>>>>>>"=VLOOKUP(F4,'Chart of Accounts'!$C:$E,3,0)"
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.
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.
Thank you so much for doing this tutorial! I can't buy the template because I'm short on money, but still, thanks for doing this tutorial for people who can't buy your template!
Very nicely elaborated begins from the chart of accounts to till balance sheet , Awsm with single excel sheet .If the father of accounting Luca Pacioli alive still he would be really appreciated you . Thanks sir . helped a lot .This is more than the any accounting software
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 ❤️
Thank you for teaching the basics of accounting. Being a Science student, this is the first time that I'm learning Accounting. Suppose, I'm doing consulting services, will my Account still be written as Sales? Secondly, if my partner is contributing to the business, under which Head should I mention?
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.
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.
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.
I like your video. Thank you so much. Can you please show us how to input Trial Balance-beginning balances from the prior year into the current year Trial balance sheet?
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...
Excellent presentation my question are; 1, can I continue the journal entry and pivot table continue automatically. 2. Can I report income and balance sheet monthly with automate selection when January to December have been posted.
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?
![[MV] A leap of faith...ความเชื่อใจครั้งสุดท้าย (From "Petrichor the series")](http://i.ytimg.com/vi/U1piZH2CNXA/mqdefault.jpg)
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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
and all the required EXCEL knowledge to make it work!!
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.
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 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
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 $600k in Sep.
When they buy foods, food ingredients, kitchen supplies, do they all include cost of goods sale?
Or kitchen supplies going to expense or equipment?
@@louietoltolvlog9699 no, look if we talk about it from accounting perspective, there are some costs which we call production costs which we include in inventory and ultimately charge them to cost of sales and there are some other costs which we call non production costs which are charged to statement of profit or loss for the period like administration, marketing and selling costs. Coming to your question, kitchen supplies for a restaurant which serves food would be production costs thus charged to cost of sales. In accounting we actually absorbs those costs in the products we produce because of certain financial reporting requirements to value inventory however for simple business like a restaurant you should charge them to cost of sales.
@@louietoltolvlog9699 costs of sales will include all costs including opening inventory, purchases during the month and wages of workers producing and serving food less closing inventory.
Here is the formula
Cost of sales = Opening inventory +
Purchases during the period +
Wages of workers -- closing inventory
And yeah, if restaurant is required to pay income tax on earnings then this will include it if not then you don't need to include income tax.
@@EXCELDOERS @38:31 How to do that Freeze thing? while selecting column C to E??? how to freeze them?
>>>>>>>>>>>>>>>>"=VLOOKUP(F4,'Chart of Accounts'!$C:$E,3,0)"
I thought I knew excel but you taught me quite a few things plus a crash course in accounting. Great job!
most welcome
i had to refresh my excel skills and your video really helped me a lot. great tutorial.. much appreciated.. thanks.. thanks..
Most Welcome
Amazing vedio. We all struggle getting along with all these expensive software .your vedio is simplifies all. God bless u
I refresh my accounting knowledge by this video. thanks a lot from my bottom of heart for making such a wonderful, professional Accounting video.
your effort is really appreciated, thank you so much from Egypt
Just Geniuses............Subscribed just in one show. Thanks for well work.
jazak Allah khair brother,, highly knowledgeble and remarkable video..
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.
Bravo Sir. This is a brilliant peace of tutorial. It opened my eyes more. Thanks.
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
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
For a completely ground zero level... I found this content very helpful.
Thank you so much. ❤
Thank you so much for doing this tutorial! I can't buy the template because I'm short on money, but still, thanks for doing this tutorial for people who can't buy your template!
I would like to show the utmost respect and appreciation for these helpful video , thank you so much bro
@user-kh5xo1ne2u you r most welcome
Any other video of analyzing expenses using pivot table as well please@@EXCELDOERS
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.
Awesome! Many thanks for this video. Perfect for small business, no need to spend money on pricey software.
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
Wonderful Job. This was my Dream but I was not expert in Pivot table. Thank you very much. Fantastic Job Great Sir.
you are awesome man! You taught accounting to non-account stream people in simplest possible way.
My dear you are awesome ❤. I was looking for this for my new company and finally I found here. Thank you so much
Very nicely elaborated begins from the chart of accounts to till balance sheet , Awsm with single excel sheet .If the father of accounting Luca Pacioli alive still he would be really appreciated you .
Thanks sir . helped a lot .This is more than the any accounting software
This is good for beginners understanding well. Thank you.
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
you have performed all the steps in very easy steps. The method of teaching was awesome.
well done sir. Step by step explanation . Clearly understood. Perfect.
Maa Shaa Allah
Allah Bless You
Regards from Muscat Oman
Ameen.
Thank you sir
I really love this tutorial
May Allah reward you abundantly
@@abdulkabia-kf2tw Ameen
IM ADDICTED AT YOUR VIDEOS. IVE LEARNED ALOT. THANK YOU FOR SHARING YOUR TUTORIAL
Thanks a lot sir, your way of presentation was really nice and easy to follow
Creating my own accounting workbook to play around with. Thanknyou so much!
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.
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 ❤️
Excellent Presentation! Users should save this for reference. Thank you.
Wow! Quite interesting and well understood. You're a great teacher!
Your skills have the potential to enhance my work significantly.🙂🙏
better to watch and do using another pc to follow. very useful. thank you
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.
FANTASTIC!! I was looking for this type of information for months, and finally found it! Thanks!
Thank so much
I have learned a lot from this video we need more sir
Thank you for teaching the basics of accounting. Being a Science student, this is the first time that I'm learning Accounting. Suppose, I'm doing consulting services, will my Account still be written as Sales? Secondly, if my partner is contributing to the business, under which Head should I mention?
Really liked the tutorial. Finally I can do my own books. Thank you so much
All the best.
I am now a fan of your hard work.
Thanks man for the insight
It really worth the data and time spent.
My knowledge have greatly increased 😊❤
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.
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.
Good job Sir, your work is really amazing ❤
Truely impressive, thank you sir! ❤❤❤❤
What a great work Sir, this is such a simple and huge knowledge of accounting process as well
Thank u :)
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.
Great tips easily learn ever what i had seen another youtube ! Thank you so much
Wow! bravo you kill it man everything well explained and understood thank God for crossing this video
Great tutorial and just long enough to be comprehensive so thanks for this.
Quality Work that we benefied all
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.
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.
Just what I needed to get the accounting cob webs out. Thank you so much!!!
Very nice video, thank you for sharing your expertise in accounting with excel!
Thank you so much for this massive tutorial.
If you were my accounting teacher i would have became a CA
Sablog inko dekh k CA bane hain aajtak? 😅
Thank You for the great excel lesson. Learned so many things.
That what we call excel ninja 🔥.
Ty, I got new job because learn from this
It s great to hear that. Congratz
really u did great usefully jobs which is helpful a lot...Many thanks
100% helful tutorial and many thanks for sharing : )
This has been very very helpful thank you
Youve earned my sub and like. This is awesome
Because of this video!❤I do subscribe you sir.Salute!
Thanks for the work done I have learnt some topics in Accounts.
good job.learning in 2024 may
Thank you are a work of art, from heaven. I love you.
I like your video. Thank you so much. Can you please show us how to input Trial Balance-beginning balances from the prior year into the current year Trial balance sheet?
Thank you for this excellent video. I want to learn more to find a job in account payable.
Really Helpful. Thanks a lot!😍
Hello very great videos. Im new to excel and i notived youre very fast when doing data validation. My excel didnt do it like yours. Carr to help
Thanks so much for sharing your expertise here. Great job
very informative. hope there are more videos like this. Thank you!
This video is awesome. Thanks for sharing
I learned a lot from this. Thank You so much.❤
Nice one man. Best video I ever watched
THANK YOU! Very clear explanation. Well done !
This is really helpful. How do I add a row(project name )on my worksheet?? Since am handling more than one project components ??
That's a great help. Please make the cash flow statement regarding this topic.
It is already there in seperate video
You are the best teacher, it helps me a lot. But can you make video about car rental business accounting 🙏🙏
Great job , very helpful 👏
Wow what a way to present Thank you so much
You are most welcome
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...
Excellent job done ❤
WOW, thanks for the tutorial! Love it ❤
Thank you so much for the video sir. This is very much informative and useful
your most welcome
Excellent presentation my question are;
1, can I continue the journal entry and pivot table continue automatically.
2. Can I report income and balance sheet monthly with automate selection when January to December have been posted.
very good teaching, thank you very much
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?
Awesome presentation.
Thanks
Great explanation. Thank you sir👍