![]() ![]() This is because each expense is money that you pay out to run your business. When it comes to entering expenses you will enter them using negative values. That is, unless, you're a flower shop and want to analyse the most popular flowers. Plus you don't need the extra words like "Went to do" or even the the type of flowers you were working with. The chances of the bad example being consistent are extremely low. No matter how frequently or infrequently you mow Mr Henderson's lawn or any other job for Mr Henderson, entering consistent data makes it straightforward to see how much he's spending with you.Įntering Accounts Description - Good Example Coupled with the date you entered earlier you'll also be able to see how Mr Henderson has paid you each month. If you wrote "Henderson - Lawn" consistently every time you mowed Mr Henderson's lawn it will be so much easier to work out how much money you've earned from Mr Henderson. So you want to see how much money each one of your clients is worth to you. Your Gardening business has really taken off and you are maxd out and you need to drop a client or two so you can have time to work on your business. Why would you want to analyse your accounts? Well consider the following situation: The more consistent you are, the easier it is to analyse your accounts. This would be preferable to writing: "Mowed Mr Henderson's lawn in the morning". So, for example, if you spent time mowing Mr Henderson's lawn you could enter something like "Henderson - Lawn". You also don't need to type in too much detail. ![]() In entering the description of the expense or receipt you should be consistent. Quick Tip: Hold Ctrl & to the current date. For example: "" would be the way you would enter the 1st of January 2021. When it comes to entering dates you should enter them using the forward slash. Dates How to Enter Dates the Correct Way in Excel? - 4:21 Now that you have your column headers, it's time to start entering your accounts. This will allow you to see how much money you have at any one time. In this column you will enter a formula that will calculate the running total. ![]() This is because it is an expense you will be reducing your money.Īny money received from work, you will enter under this column. If your entry is an expense then you will enter the number here in minus or negative numbers. You will learn more about the importance of this later on. Try to be as consistent as possible when typing in repeated receipts and expenses so that the match the previous one. Under this heading you will type the description of the transaction. Meaning every time you buy or sell something you will enter in the date. Under this heading you will enter the date of the transaction. These headings will determine the information you will enter into your accounts spreadsheet. The first thing you need to do, after opening a blank spreadsheet, is to enter in the column headings. Column Headings for your Bookkeeping Spreadsheet Create Column Headers - 2:18 Also, you will learn many everyday Excel hints and tips. As a result you will learn everything from creating a basic accounts worksheet to a Pivot Table. This tutorial is one of a series of Accounts Tutorials that you are encouraged to follow. If you simply want to download the template you can find it at the bottom of this page. Then, looking back, you can see when you had the most money and when you had almost nothing. That way you can see how your finances are at any point in time. Then add up all your expenses and see how much you have left.Īlso, a running total might be handy. You simply need the ability to total up all of the money you've received. You see that's all that you need as a one person band. Or it could be worse, it could be that you're looking at an accounts package or complicated spreadsheet template seeming more designed for a large organisation's tax return than simply being a record of expenses and money received. You then look at the blank spreadsheet on your screen. Then at the end of the month, or longer, you sit down and look at all the receipts that have piled up. So if why should you do your accounts when there's another painting job to be done, car to be repaired or wall that needs plastering. The trouble is, you're too busy actually running your business. The trouble is that that time rarely, if ever, comes. Keeping the books on all of your accounts can be something that you put off until you have time to it. Bookkeeping! The word is enough to drive anyone who is currently running a business into a panic. ![]()
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