Excel Accounting 4–Enter Data & Track Current Month & YTD
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Learn how to enter accounting data into an accounting system using Excel, generating reports for multiple months
What you’ll learn
How to enter transactions into an accounting system using Excel
How to create reports for the current month and for the year to date
How to enter transactions into a general journal
How to post transactions to a general ledger
How to create a trial balance for the current month and the year to date
How to create subsidiary ledgers for accounts receivable, accounts payable, and inventory
How to create financial statements for one month and for the year to date
This course will enter a month’s worth of data input into an accounting system using Excel, which has already been set up and includes one month of data input.
Learners will learn how to navigate Microsoft Excel and use a well-designed accounting worksheet, complete with a general journal, trial balance, general ledger, subsidiary ledgers for accounts receivable, accounts payable, & inventory, financial statements, and much more.
Excel is an excellent tool to learn accounting because it is much more transparent than a database program, like accounting software. QuickBooks is a typical example of accounting software.
For most new steps in our accounting practice problem, you will have access to a downloadable Excel Workbook containing at least two tabs, one with the answer, the new tasks completed, the other starting where the prior presentation left off.
As we enter the second month of data input, we will analyze the current month’s data and the year-to-date data. We will use Excel to understand how accounting software like QuickBooks generates reports for different periods, including reports for one month, multiple months, and comparative reports.
The course will demonstrate transactions for each accounting cycle, the revenue cycle, the purchases cycle, and the payroll cycle.
We will enter transactions into the general journal, the general ledger, subsidiary ledgers, the trial balance, and the financial statements.
Learners will create financial statements for the current month and the year-to-date data.