Basic Excel Accounting System

I show how to create a very basic accounting or bookkeeping system for a small start-up company or non-profit using Excel. The system works well for tracking financial transactions for very small companies or side-businesses. I have used this system for my own small business ventures that don’t have a lot of transactions like real estate investment projects or rentals. I have also set this up for friends and non-profits that I have worked with to help track cash and expenses. Updated version of this video available https://youtu.be/DPF1PWhUl0g
Excel worksheet available at: https://drive.google.com/file/d/1A__qOa3fT7xyA7Vir47baBjSGVHPaGFD/view?usp=sharing
Note: you cannot directly edit the google file but you should be able to save it and then edit it.

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Wow, thank you so much. This is totally doable. You’ve given me inspiration!

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I as so glad it is helpful, let me know if there are other accounting topic that would interest you.

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Would you please share the final excel sheet?

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Sir we need practical work of accountant how work a accountant

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Thanks

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Followed the accounting but got confused with Excel formulas, learning both for the first time. Late, unfortunately.

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Glad you were able to follow the accounting. I try not to use too complicated of excel formulas but I can see how they could be confusing your first time. Without providing a full tutorial here are some helpful hints to get started: (1) start formulas by entering the equal sign (=), this tells excel that everything after is an equation; (2) I use the SUM() command a lot to add amounts in cells together, by typing =SUM( and then selecting the cells that I want to add together (note: that cells can be selected across worksheets in excel). Good luck!

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Sir can you take test for journal entry…..

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No but good luck.

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How to automate the calculation. Is it not possible for the system to put negative sign automatically based on the transaction.

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Good question and one I had not considered before. Unfortunately, it is not really possible to automate the negative signs because there will end up being positives and negatives for each accounting depending on the type of transaction.

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Thank you for the help and sharing of your knowledge

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My pleasure.

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Thanks for the helpful video

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Happy to help

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I wish u can do details for Gst

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Thanks for the suggestion, unfortunately I am not familiar with the various “goods and services tax” policies and requirements that exist around the world. While I believe that this system is sufficient to provide adequate books and records for many regulatory purposes (I have made it through a regulatory audit with this system) I cannot guarantee it will meet specific requirements by different agencies or taxing jurisdictions.

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@Accounting Outside thank you for ur response. I couldn’t find anywhere to handling gst and hst (sale tax) which we have to report monthly. None mentioned How it works with all other reports, unless double works or double entry. I found my way , but hope someone else better can show to the learner

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Amazing video truly helpful !

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So glad!

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thanks G

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And now we add excel magic to use dynamic arrays and ranges with automated dynamic lists across all the financial statements by month, and one transaction table to handle every historic transaction 😂😂 god i love excel.

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Thank you so much that is very helpful

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