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  • Reading time:5 mins read


What you will learn

How to create an accounting system using Excel, starting from a blank worksheet

How to navigate and format Excel worksheets

How to create a general journal

How to create a general ledger

How to create a trial balance

How to create subsidiary ledgers

How to create financial statements, including a balance sheet and income statement

How to enter transactions related to the vendor cycle, including the impact on subsidiary ledgers and financial statements

How to enter transactions related to the customer cycle, including the impact on subsidiary ledgers and financial statements

How to enter transactions related to the employee cycle, including the impact on subsidiary ledgers and financial statements

Description

In this course we will build an accounting system starting with a blank Excel worksheet, creating a general journal, a general ledger, a trial balance, subledgers, and financial statements.

For each new step in the process, you will have access to a downloadable Excel Workbook, containing at least two tabs, one with the answer, the new steps having been completed, the other starting out where the prior presentation left off.

Once we have created our accounting system worksheet, we will use it to record common transactions, entering the journal entries into the general journal, posting to the general ledger, creating the trial balance, adjusting the subsidiary ledgers, and constructing the financial statements.

As we enter each transaction, we will consider the data input often used in accounting software like QuickBooks. Accounting software will use data input forms like bills, invoices, credit memos, checks, sales receipts, and more, to simplify the data input process, allowing users with little accounting experience to learn data input.

Accountants are generally more valuable when they understand both the accounting theory, the impact on financial statements of each transaction, as well as how an accounting database program like QuickBooks works, including the data input forms used to enter normal financial transactions.


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Because spreadsheets are so transparent, they are the perfect tool to gain and understanding of both, accounting theory and accounting software.

Conversely, building an accounting system in Excel is a great way, one of the best ways, to improve your Excel skills.

English
language

Content

Create Excel Worksheet

1025 Create Accounting Worksheet Part 1
1028 Create Accounting Worksheet Part 2
1031 Create Accounting Worksheet Part 3
1034 Create Accounting Worksheet Part 4
1037 Create Accounting Worksheet Part 5
1040 Create Accounting Worksheet Part 6
1043 Create Accounting Worksheet Part 7
1046 Create Accounting Worksheet Part 8
1049 Create Accounting Worksheet Part 9
1052 Create Accounting Worksheet Part 10
1055 Create Accounting Worksheet Part 11

Vendor Cycle, Purchases Cycle, or Accounts Payable Cycle Transactions

1180 Bill Form
1200 Pay Bills Form Check
1260 Check Form
1280 Void Check Prior Period Adjustment

Customer Cycle, Sales Cycle, or Accounts Receivable Cycle Transactions

1340 Invoice Form
1360 Receive Payment Form
1380 Deposit Form
1400 Sales Receipts Form
1420 Credit Memo Refund Form & Bad Debt Expense Service Item
1488 Credit Memo with Inventory

Employee Cycle – Payroll Cycle Transactions

1520 Pay Employees Form
1522 Pay Employees Form Part 2