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  • Elosimple excel accounting User Guide

    Elosimple excel accounting User Guide A user friendly MS Excel Accounting Records Template; eases preparation of financial statements

    Peter Elolo Darrah, C.A.(Gh)

    Tax Audit, DTRD, Ghana Revenue Authority

    elodarah@yahoo.com

    +233244592866

    12/19/2012

  • elosimple excel accounting template

    2

    FOREWORD ................................................................................................................................... 3

    GETTING STARTED ...................................................................................................................... 3

    HOW TO OBTAIN A COPY OF THE elosimple excel accounting template ........................... 3

    HOW TO SAVE A COPY OF THE elosimple excel accounting template ................................ 3

    HOW TO OPEN THE elosimple excel accounting template .................................................... 3

    OVERVIEW OF elosimple EXCEL TEMPLATE ........................................................................... 4

    elosimple SHEETS ...................................................................................................................... 4

    Index sheet ............................................................................................................................... 4

    AccountSetup sheet.................................................................................................................. 5

    CashJournal sheet .................................................................................................................... 5

    FinStatement sheet .................................................................................................................. 6

    HOW TO USE elosimple EXCEL TEMPLATE.......................................................................... 6

    INDEXING .............................................................................................................................. 6

    ACCOUNTS SETUP ................................................................................................................ 7

    COMBINED CASHBOOK AND JOURNAL .......................................................................... 7

    Making Entries .................................................................................................................... 8

    Accounting Periods ............................................................................................................. 9

    Ledgers ................................................................................................................................. 9

    Management Accounts ..................................................................................................... 10

    SECURITY ..................................................................................................................................... 13

    SHORTCUT KEYS ........................................................................................................................ 14

    CONCLUSION .............................................................................................................................. 15

    BIBLIOGRAPHY ........................................................................................................................... 15

  • elosimple excel accounting template

    3

    FOREWORD

    elosimple excel accounting template has been designed to ease preparation of accounting

    records as well as relevant financial reports such as Income Statement and Balance Sheet

    (Andrews). The user is not burdened with the drudgery of preparing columns for accounting

    heads (items) on several worksheets involved in the record-keeping. All the user needs to do

    is just to set up the required Chart of Accounts (with Account Codes) under desirable groups

    of accounts just like any conventional accounting application system and begins to record

    transactions in the combined Cash/Journal table.

    However, the eloAccountRecords is only effective and accurate to the extent that the formula

    cells are not inadvertently removed or altered by the user. The user, therefore, is ultimately

    responsible for the accuracy of the records prepared; using this template.

    GETTING STARTED

    HOW TO OBTAIN A COPY OF THE elosimple excel accounting

    template

    The template can be obtained from the address on the Index and CashJournal sheets (i.e.

    +233244592866, +233202441763 or elodarah@yahoo.com).

    HOW TO SAVE A COPY OF THE elosimple excel accounting

    template It is important to have MS Office Application which should be of a version not lower than MS

    Office 2007 before the template can be saved on your system. If there is a lower version like

    MS Office 2003 on your system, then the template must be saved as MS Office Excel 2003

    before copied for transfer (saving).

    HOW TO OPEN THE elosimple excel accounting template

    A password request may be prompted at each time that an attempt is made at opening a

    protected template; which must be supplied by the user.

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    4

    OVERVIEW OF elosimple EXCEL TEMPLATE

    elosimple SHEETS

    We have the following sheets in elosimple excel accounting template Workbook:

    Index sheet

  • elosimple excel accounting template

    5

    AccountSetup sheet

    CashJournal sheet

  • elosimple excel accounting template

    6

    FinStatement sheet

    HOW TO USE elosimple EXCEL TEMPLATE

    INDEXING

    All the resources in elosimple excel accounting template workbook are found in the index

    sheet. Each of these is linked (i.e. hyperlinked) to its location in the workbook. The index

    page is accessible on any resource in the workbook.

    The headings for Account Codes in the CashJournal are linked to the AccountSetUp Sheet.

    This is activated by just a click on the heading: Allocation.

    After getting the code click on the CashJournal link in AccountSetUp to return to the

    CashJournal to complete the record.

    Alternatively, simply click on the sheet tabs:

  • elosimple excel accounting template

    7

    ACCOUNTS SETUP

    This is the most important aspect of the recording process. With reference to the

    AccountSetup sheet in OVERVIEW, type in the Business or Organisation Name, Start Date,

    End Date and Accounting year

    This is best explained in the table below:

    CELL

    NUMBER EXPECTED CONTENT

    C3 Business or organisation name

    C4 Start date; e.g. 01/01

    E4 End date; e.g. 31/12 or 12/31 for US-English system

    G4 Accounting or period year: e.g. 2012

    Proceed to type in the Account codes and respective Account items (heads). Those Account

    Codes with respective Account Groups found on the template are somewhat suggestive. User

    may use or apply own codes, items and group of accounts. You may insert more rows while

    ensuring that you maintain the serial numbering in column A.

    Utmost care need to be taken when preparing the chart of accounts. The grouping of the

    codes determines the outlook of the management reports; Balance Sheet and Income

    Statement. You may employ the services of an accountant to set up the accounts to be

    displayed in the management reports.

    COMBINED CASHBOOK AND JOURNAL

    There is a combined cashbook and journal table in the CashJournal sheet. We need to observe

    this table carefully because this is where all the recording and posting of the transactions are

    done:

  • elosimple excel accounting template

    8

    COLUMN

    USERS REQUIRED

    RESPONSE FUNCTION

    Date Make entry Transaction date

    Details Make entry

    Third party name or brief

    description of transaction

    Reference Make entry

    Voucher/Document serial

    number

    Cash Make entry View the balance in cell D11

    Bank 1 Make entry View the balance in cell E11

    Bank 2 Make entry View the balance in cell F11

    Bank 3 Make entry View the balance in cell G11

    JOURNAL Make entry

    View the balance in cell

    journal_sum which must be

    equal to zero (.00).

    Allocation Amount No entry

    Formulated to post amounts

    in Cash and Bank fields.

    View balance for account

    ledger in cell i11

    Allocation Make entry Posts account names

    Account No entry

    Formulated to post Account

    names

    Making Entries

    The column headings, with specific reference to Banks, can be changed or replaced with real

    bank accounts. Furthermore, more columns can be inserted to accommodate more banks.

    Non cash transactions or opening entries can be made via the Journal. In all cases involving

    amounts all credit entries should be preceded by a minus (-).

    Cash (including bank) transaction amounts involving payments should be preceded by a

    minus (-).

    It is very important to enter the account code. Without the entry of an account code such a

    record can never be complete.

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    9

    Please do not leave empty rows in between the records.

    Accounting Periods

    The user can get accounts for any period by selecting from the date heading any particular

    date as illustrated below:

    The user has selected the period up to October and transactions from January 1 to October 31