keeping accounts

[BrokenBiker]

at the moment I am using a spreadsheet to keep track of money in and out. I then have another page with details of expenses so when tax time comes around its a case of add up all incoming, add up all expense, minus from income and there you go, taxable profit.

anyway, I am having to input everything manually i.e. calculations, and I feel it isn't as efficient a it could be.

I can do the whole this box plus that box equals this sort of thing, but want to know how others are using excel to keep their books? is there a way of having it automatically calculate for each column as and when it is updated?

 

[cumbriasteve]

I am fairly sure there will be, it's a very clever software package.

Excel for Dummies is the book I used, I learnt a lot from that and then once I stopped using it on a regular basis I promptly forgot most of the tricks.

 

[monkeymark]

at the moment I am using a spreadsheet to keep track of money in and out. I then have another page with details of expenses so when tax time comes around its a case of add up all incoming, add up all expense, minus from income and there you go, taxable profit.

anyway, I am having to input everything manually i.e. calculations, and I feel it isn't as efficient a it could be.

I can do the whole this box plus that box equals this sort of thing, but want to know how others are using excel to keep their books? is there a way of having it automatically calculate for each column as and when it is updated?

What sort of calculations are you wanting it to do exactly?
Do you have a blank copy of the spreadsheet that could be uploaded or a screen shot so we can see exactly what's happening?

 

[BrokenBiker]

right, basically I have 3 columns, labelled reference, in, out. I then have a number of rows depending on how many transactions there are on that day. then below all that I have sub total, and final balance. I use sub total to add up in and out, and final balance is obviously the balance at the end of the day

I then have another page titled expenses, where I have to manually input all details of expenses i.e. reference and amount, then add that all up as total at the bottom.

I want a more efficient way of doing it, so sub totals auto calculate, final balance auto calculates and expense are easily moved over to their own sheet without having to write it all in again.

I am not very experienced with spread sheets, I can do basics but not a lot more

 

[monkeymark]

The thing with excell is its easier to do than explain. If you have a blank copy you could mail me it, I'll make a few changes and send back to see what you think. Otherwise I can try to talk you through most of it in stages.

 

[BrokenBiker]

The thing with excell is its easier to do than explain. If you have a blank copy you could mail me it, I'll make a few changes and send back to see what you think. Otherwise I can try to talk you through most of it in stages.

that would be a help, thanks. pm me your email address and i'll attach a blank. I will admit now it is a total novice attempt at a spread sheet lol

 

[monkeymark]

Pm sent.

 

[octo0072000]

my accountant wanted me to use SAGE program less work for them to check it copy it over seems the tax office use it so less work and less cost to you at the end of the day

 

[monkeymark]

my accountant wanted me to use SAGE program less work for them to check it copy it over seems the tax office use it so less work and less cost to you at the end of the day

Yes some prefer sage. Others don't mind which. The larger the company the more flexible they usually are.
I believe excel can be imported into Sage, ill have to check hot to do that one.

 

[Wendelspanswick]

The problem with Sage is you cannot delete anything, if you put down expenses at £200 when you meant £20 you then have to credit back in £180!
With Excel you might be better off doing expenses, credits and balance all on one sheet, like a bank statement and just use different colours for each.

 

[the snooper]

The problem with Sage is you cannot delete anything, if you put down expenses at £200 when you meant £20 you then have to credit back in £180!
With Excel you might be better off doing expenses, credits and balance all on one sheet, like a bank statement and just use different colours for each.

I use sage for invoicing and so on and you can make corrections, top left hand corner of the screen where there is the option to backup your files there is also the options to correct things can't remember exact wording, could be maintenance or something similar If I mess an invoice up that I have posted to the accounts I go into that and simply delete that transaction then create another invoice

 

[BrokenBiker]

well, massive thanks to mark, he has completely revamped my spreadsheet, improved on it no end and generally made my accounts a much easier job.

i knew it could be done, but had absolutely no idea how to do it, mark on the other hand has done a brilliant job

 

[monkeymark]

well, massive thanks to mark, he has completely revamped my spreadsheet, improved on it no end and generally made my accounts a much easier job.

i knew it could be done, but had absolutely no idea how to do it, mark on the other hand has done a brilliant job

Very kind words indeed. I'm no pro but I did my best. Let me know if there's any problems.

 

[Kent]

Speak to an accountant or marry one (I did the latter) are you missing writing down of assets and such like? I should seriously look at putting a proper system in like sage (though I don't honestly know what she does I just pile it all up in paperwork LOL)

 

[steviec_lj]

No need for big expensive software dedicated to accounts.

I used excel, and still do for the household side of things, for 17 years self employed. Accountant/HMRC were always impressed, never had a fine either.