Service Accounting Sample

Excel
Excel Skills
Skills || Accounting
Accounting Template
Template || Service
Service Based
Based
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About thisthis template
template
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record income,
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balance, bank reconciliation, monthly & annual income statement & cash flow report and a monthly balance sheet.
bank reconciliation, monthly & annual income statement & cash flow report and a monthly balance sheet. Th Th
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Excel Skills | Accounting Template | Service Based
Instructions
www.excel-skills.com
This unique Excel template enables users to record income, expenses and non-cash adjustment transactions and
automatically produces a trial balance, bank reconciliation, monthly & annual income statement & cash flow report and a On
Onthis
thissheet:
sheet:
monthly balance sheet. The unique functionality that has been incorporated into this template makes it the ideal accounting This
This sheet
sheet includes
includes detailed
detailed instructions
instructions
solution for small businesses. The flexible design of the reports that are included in the template makes it easy to amend the on
on setting
setting up
up and
and using
using this
this template.
template.
dates that are included in the monthly income statement, cash flow report and balance sheet and the template can therefore
easily be rolled forward for any subsequent financial periods.
Note: The Service Based Accounting template has been designed specifically for service based businesses and is therefore
suitable for any business that provides a service, regardless of the type of service that is provided. The template therefore
does not facilitate accounting for inventory, cost of sales and gross profit. Our Trade Based Accounting template should be
used if inventory accounting is required.
This
This is
is the
the only
only
Worksheet Summary protected
protected sheet
sheet in
in the
the
full
full version of the
version of the
template!
template!
The following sheets are included in the template:
Set-up - the input cells on this sheet enable you to customize the template for your business. The input cells that are
included in the business details and banking details sections are incorporated into the tax invoice, the sales tax percentage
is used to calculate the sales tax on all income & expense transactions and the template start date, report start date and year
end input cells determine the monthly periods that are included on the trial balance and financial reports. The bank accounts
section can be used to add additional bank accounts to the template and the error codes are provided for information
purposes.
Accounts - this sheet contains the default list of accounts and a trial balance that is automatically calculated from the
transactions that are entered on the Income, Expenses and NonCash sheets. The default accounts can be customized by
editing the existing account numbers and descriptions or by creating additional accounts. The periods that are included in the
Trial Balance can be defined by the user and all calculations are updated automatically based on the period that is specified.
Customers - this sheet is used to create a customer code for each customer and to enter the billing information of each
customer. The billing information is automatically included on the tax invoice based on the customer code that is specified
when entering transactions on the Income sheet. All customer codes are also included in a list box in the Customer column
on the Income sheet in order to simplify the recording of transactions.
Income - all income and other receipts should be recorded on this sheet.
Invoice - this sheet includes a tax invoice template. The details of any invoice that is recorded on the Income sheet can be
displayed on the tax invoice by simply entering or copying the appropriate invoice number into cell G11. All the other
information on this sheet is automatically updated.
Expenses - all expenses and other payments should be recorded on this sheet.
NonCash - this sheet facilitates accounting for general ledger journal type entries and other non-cash adjustments. The total
of all the journal entries that are included on this sheet should therefore always be nil. We've added conditional formatting to
the sheet in order to highlight imbalances.
BankRecon - this sheet includes a bank reconciliation that is produced automatically from the transactions that are entered
on the Income and Expenses sheets. User input is limited to selecting the appropriate bank account, entering the appropriate
bank reconciliation date and entering the actual bank statement balance.
CashFlowMonthly - the monthly income statement & cash flow report on this sheet is automatically compiled from the
transactions that are recorded on the Income, Expenses and NonCash sheets. The report includes 12 monthly periods that
are determined based on the Report Start Date that is specified on the Set-up sheet.
CashFlowAnnual - the annual income statement & cash flow report on this sheet is automatically compiled based on the
transactions that are recorded on the Income, Expenses and Non-Cash sheets. The report includes a current and
comparative financial period that is determined based on the Report Start Date and Year End that is specified on the Set-up
sheet. Note that the annual section of the report will always be based on the year end period that is specified. The sheet also
includes a year-to-date and month-to-date income statement & cash flow report which is based on the period that is selected
from the list box in cell H1.
Balance Sheet - this sheet includes a monthly balance sheet that is automatically compiled based on the transactions that
are recorded on the Income, Expenses and Non-Cash sheets. The account groups that are included on the balance sheet
are fixed but you can add as many accounts as required under the main account groups by simply creating the appropriate
accounts on the Accounts sheet.
Page 3 of 38
Instructions
Business Set-up
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The first step in customizing the template for your business is to enter your business details in the input cells from cell C6 to This
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includes detailed
instructions
C24 on the Set-up sheet. The business name that is entered in cell C6 is included as the heading on all worksheets. The on
on setting
setting up
up and
and using
using this
this template.
template.
business address and contact details are included on the tax invoice. The sales tax reference number is also included on the
tax invoice and the sales tax percentage is used to calculate the appropriate sales tax and tax exclusive amounts on the
Income and Expenses sheets.
Note: If the sales tax percentage needs to be amended, you first need to copy the existing sales tax amounts that
have been calculated on the Income and Expenses sheets and paste these cells as values before entering a new
sales tax percentage, otherwise all the sales tax amounts on the Income and Expenses sheets will be calculated
based on the new percentage. By copying the amounts that were previously calculated as values, you will ensure
that only transactions that are recorded after the sales tax percentage is amended are calculated based on the new
sales tax percentage.
Another important point to note regarding the accounting treatment of sales tax is that the template includes two default
sales tax codes: tax code "A" relates to all transactions that are subjected to sales tax and tax code "E" relates to all
transactions that are exempt from sales tax. It is therefore important to select the correct tax code when recording
transactions on the Income and Expenses sheets.
The banking details that are entered in cells C28 to C31 on the Set-up sheet are included in cells C48 to C52 on the tax
invoice. If you don't want to include your banking details on the tax invoice, simply delete the contents of the cell range on
the tax invoice and clear the borders.
The Template Start Date that is entered in cell C35 on the Set-up sheet is very important because it determines the first
period that will be included in the template calculations. The date that is specified in this input cell also determines the
effective date for which opening balance sheet balances should be entered in column C on the Accounts sheet. We
recommend that you specify the first day of the first financial year that you want to include in the template as the Template
Start Date.
The template does not make provision for entering the opening balances of income and expense accounts. If you are setting
up the template for an existing business, you therefore need to specify the first day of a financial year as the Start Date and
record all transactions for the appropriate financial year on the Income, Expenses and Non-Cash sheets. Note that the
opening balance sheet balances at the end of the previous financial year should be entered on the Accounts sheet before
recording the transactions relating to the current financial year.
The Report Start Date that is entered in cell C37 on the Set-up sheet determines the monthly periods that are included on
the monthly income statement & cash flow report and the monthly balance sheet. The CashFlowMonthly and BalanceSheet
sheets include 12 monthly periods by default - these periods and the calculations that are automatically performed on these
sheets can therefore be amended by simply changing the Report Start Date on the Set-up sheet in order to include a
different 12 month period on these reports.
The next input cell on the Set-up sheet contains a list box that enables users to select the appropriate year end month. The
calendar month that is selected in this cell determines the month part of the financial period that is included on the annual
income statement & cash flow report and therefore the period on which the calculations on this sheet are based. The year
part of the financial period that is included on the CashFlowAnnual sheet is determined by the Report Start Date that is
specified in cell C37 - the financial year that is included in the annual income statement & cash flow report can therefore be
amended by simply changing the Report Start Date.
The bank account codes that are specified in cells A43 to A46 are included in the Bank Code columns on the Income and
Expenses sheets. Each of these codes represents a separate bank or petty cash account. Additional bank codes for
additional bank accounts can be created by simply inserting a new bank code anywhere between the first and last bank
codes, entering a new bank code and entering a description for the new bank account in column B. Note that new bank
account codes also need to be added to the Accounts sheet.
Page 4 of 38
Instructions
The input error codes at the bottom of the sheet are included for information purposes and provide users with a reason for
the error codes that may be encountered when entering transactions on the Income, Expenses and NonCash sheets. These On
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error codes are covered in more detail in the Error Codes section of these instructions. This
This sheet
sheet includes
includes detailed
instructions
on
on setting
setting up
up and
and using
using this
this template.
template.
Accounts Set-up
The default accounts list on the Accounts sheet can be customized according to your business requirements. All income
statement accounts (Profit & Loss accounts) start with "IS", while all balance sheet accounts start with "BS". You can create
as many accounts as required but it is of utmost importance that all new accounts are created within the main account group
structure.
New accounts can be created on the Accounts sheet by inserting a new row, entering the appropriate account number,
entering an account description and copying the formulas in column E to G from one of the existing rows on the Accounts
sheet. We recommend inserting the new rows in the appropriate position based on the account number - this will negate the
need to sort the account numbers in an ascending order (the list boxes in the Account columns on the Income, Expenses
and NonCash sheets display the account numbers in the same sequence as included on the Accounts sheet).
All new balance sheet accounts must be created under the pre-defined main account groups. The monthly balance sheet is
calculated in accordance with the these account groups and cannot be amended but you can create as many new balance
sheet accounts as required under the pre-defined main account groups. All the transactions that are recorded on the Income,
Expenses and Non-Cash sheets can be filtered based on the Account column and you'll therefore be able to view a complete
list of all the transactions that are included in each individual balance sheet account or balance sheet account group.
Example: If we require separate fixed asset accounts for office furniture and motor vehicles, we can create account BS-101
for office furniture and BS-102 for motor vehicles. Transactions can then be allocated to these accounts and all accounts
under the "BS-100" main account group will be included in the Property, Plant & Equipment row on the monthly balance
sheet report. The transactions that are allocated to each individual account can be reviewed by using the Filter feature on the
Expenses sheet and simply selecting the appropriate account.
The only exception to the main account group rule is the control accounts that are listed at the bottom of the Accounts sheet.
The balances of these control accounts are calculated based on the transactions that are recorded on the Income, Expenses
and NonCash sheets and you will therefore not be able to select these accounts when allocating transactions to accounts.
We have therefore provided separate debtor, creditor and cash account groups that can be used if you need to allocate
transactions to these balance sheet account groups.
Income statement accounts are also grouped into main account groups but are not treated the same as balance sheet
account groups. The template has been designed in order to facilitate reviewing expense accounts (the IS-300 expense
account group) as separate line items on the income statement reports. You can therefore edit the account descriptions of
the default expense accounts and create additional expense accounts (if required) under this main account group in order to
customize the expense accounts that are included as separate line items on the MonthlyCashFlow and AnnualCashFlow
sheets.
Note: If you create additional expense accounts on the Accounts sheet, you will have to insert a new row for each account
that is created on the CashFlowMonthly and CashFlowAnnual sheets. It is imperative that you remember to insert the
appropriate rows because the balance sheet may not be in balance if you allocate transactions to a new expense account
and don't insert the account on the income statement. We have added conditional formatting to the Accounts sheet in order
to highlight accounts that are not included on the income statement reports - if an account number is highlighted in orange, it
means that the account has not been included on the CashFlowMonthly sheet and if an account number is highlighted in
purple, it means that the account has not been included on the CashFlowAnnual sheet.
Note: The descriptions of all the main account groups are fixed - if you change the descriptions of these accounts on the
Accounts sheet, it will have no effect on the descriptions of the main accounts that are included on the income statement and
balance sheet. Only the descriptions of the default expense accounts (IS-300 series) should therefore be amended.
Page 5 of 38
Instructions
When you customize the template for an existing business, you will need to enter the appropriate balance sheet balances as
at the Template Start Date (specified on the Set-up sheet) in column C on the Accounts sheet. As we mentioned before, this On
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template only accommodates entering opening balances for balance sheet accounts. If you therefore want to start using the This
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sheet includes
includes detailed
instructions
template during a financial year, you need to specify the first day of the financial year as the Template Start Date, enter the on
on setting
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and using
using this
this template.
template.
balance sheet opening balances as at the Template Start Date on the Accounts sheet and record all the transactions since
the first day of the financial year on the Income, Expenses and NonCash sheets in order to facilitate the calculation of an
accurate income statement for the full financial year.
Example: If the financial year end is February and we want to start using the template in July, we need to specify the
Template Start Date as the 1st of March, enter the balance sheet opening balances as at the 1st of March on the Accounts
sheet and record all the transactions from March to July on the Income, Expenses and NonCash sheets. This approach will
ensure that the annual totals on the income statement are calculated and displayed correctly on the CashFlowAnnual sheet.
If we entered the balance sheet opening balances at the end of June on the Accounts sheet instead, the cash and other
balance sheet balances will be correct but the annual income and expense accounts will not include the income and
expenses for a full financial year.
Note: The opening balances of all asset accounts should be entered as positive values and all liability and equity accounts
should be entered as negative values. The total of all the opening balances that are entered on the Accounts sheet needs to
be nil, otherwise the balance sheet for all subsequent periods will not be in balance.
You'll also notice that the opening balances for the Bank, Trade Debtors and Trade Creditors control accounts cannot be
edited. This is because the subsequent movement in these opening balances will have an effect on the cash flow during the
first financial period that is included in the template. The opening balances of these control accounts should therefore be
entered on the Income or Expenses worksheets and will automatically be included in the opening balances on the Accounts
sheet. The total of all the opening balances should however still equal nil.
The opening balance for each of the bank codes (and the petty cash code) that are included on the Set-up sheet should be
entered on the Income sheet if it is a positive balance and on the Expenses sheet if it is a negative balance (but entered as a
positive value). The month end date of the month that precedes the template start date that is specified on the Set-up sheet
should be entered in the invoice/document date, payment date and statement date columns. This approach will ensure that
the opening bank balances are calculated correctly on the Accounts sheet.
Example: If the opening B1 bank balance is 5,000 and the Template Start Date is 1 March, a transaction needs to be
recorded on the Income sheet with an amount of 5,000, document date, payment date and statement date of 28 February, a
Tax Code of E (no sales tax) and a bank code of B1. This balance will then be automatically included as the opening bank
balance for the B1 bank code on the Accounts sheet. If the opening balance is negative 5,000, then a positive amount of
5,000 should be recorded on the Expenses sheet instead (use the same date principles as we described in the previous
example). The opening B1 bank balance of negative 5,000 will then be included on the Accounts sheet.
The opening Trade Debtors balance should be entered on the Income sheet as a positive amount. You can enter the total in
one row or enter the outstanding invoices individually (we recommend the latter because all outstanding invoices may not be
paid on the same date and the first approach may therefore result in a cash flow discrepancy). The invoice date that is
entered in column B should be before the Template Start Date that is specified on the Set-up sheet and the payment date
that is entered in column I should be the actual payment date (which will obviously be after the Template Start Date because
the invoice is outstanding on the Template Start Date). The statement date that needs to be entered in the Statement Date
column should be the date on which the transaction is reflected on the bank statement (which will also be after the Template
Start Date).
Example: If the opening Trade Debtor balance at 1 March consists of two invoices, enter the actual invoice dates in the
Invoice Date column (the invoices should be dated on or before 28 February). The payment date column can be left blank
until the invoices are paid and the actual date when the payment is received should be entered in the Payment Date column.
The opening Trade Debtor balance will then automatically be calculated and included on the Accounts sheet.
Page 6 of 38
Instructions
The opening Trade Creditors balance should be entered on the Expenses sheet as a positive amount. You can enter the total
in one row or enter the outstanding invoices individually (we recommend the latter because all outstanding invoices may not On
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be paid on the same date and will probably be paid to different suppliers). The document date that is entered in column A This
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should be before the Template Start Date that is specified on the Set-up sheet and the payment date that is entered in on
on setting
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column I should be the actual payment date (which will obviously be after the Template Start Date because the supplier
invoice is outstanding on the Template Start Date). The statement date that needs to be entered in the Statement Date
column should be the date on which the transaction is reflected on the bank statement (which will also be after the Template
Start Date).
Example: If the opening Trade Creditor balance at 1 March consists of two invoices, enter the actual invoice dates in the
Document Date column (the invoices should be dated on or before 28 February). The payment date column can be left blank
until the invoices are paid and the actual date when the invoices are paid needs to be entered in the Payment Date column.
The opening Trade Creditor balance will then automatically be calculated and included on the Accounts sheet (as a negative
amount because Trade Creditors are liabilities). Note that the statement date that is entered should be the date on which the
payment is reflected on the bank statement.
You'll notice that the income statement accounts list on the Accounts sheet ends with a "ZZZ" account number. This is not an
actual account, but a row that has been added to the bottom of the account range to indicate the end of a named cell range.
This row should not be deleted and all new accounts should be added above this row. All the accounts above this row are
included in a list box in the Account column on the Income, Expenses and NonCash sheets. By adding all new accounts
above this row, we ensure that all the accounts that are created on the Accounts sheet are included in the Account list boxes.
Note: The accounts that are created on the Accounts sheet are included in the Account list boxes on the Income, Expenses
and NonCash worksheets based on the sequence in which they are included on the Accounts sheet. We therefore
recommend that you sort the accounts in an ascending order after editing any account numbers or creating additional
accounts so that the list boxes include the accounts in the correct sequence. The control accounts at the bottom of the sheet
should be omitted from the sorting operation (only sort up to the ZZZ row). The same principle applies to the data on the
Customers sheet.
Trial Balance
A detailed trial balance per account is included on the Accounts sheet in column E to G. All the account balances that are
included in the trial balance are automatically calculated based on the transactions that are entered on the Income,
Expenses and NonCash sheets.
The opening balances in column E are calculated based on the Report Start Date that is specified on the Set-up sheet and
the closing balances in column G are calculated based on the month that is selected from the list box in cell G3. This list box
includes a twelve month reporting period starting from the Report Start Date that is specified on the Set-up sheet. Column F
contains a calculation of the movement per account for the date range that is included in the trail balance.
The monthly periods that are included in the list box in cell G3 are the same as the monthly periods that are included on the
monthly income statement, cash flow and balance sheet reports. You are therefore able to view a trial balance for any of the
monthly periods by simply selecting the appropriate month end date from the list box.
A trail balance for previous periods can also be viewed by simply changing the Report Start Date on the Set-up sheet and
then selecting the appropriate period from the list box in cell G3 on the Accounts sheet. Note that when you change the
Report Start Date, the monthly periods that are included on the income statement, cash flow report and balance sheet are
also amended but that you can switch back to the current accounting period by simply changing the Report Start Date back
to the appropriate date.
Note: When you roll the trial balance forward to include a subsequent 12 month period by entering a new Report Start Date
on the Set-up sheet, the period in cell G3 on the Accounts sheet may be dated before the new opening balance period. This
date discrepancy can be corrected by simply selecting a new period from the list box in cell G3 - you'll also notice that cell G3
will be highlighted in orange if a date discrepancy exists.
Page 7 of 38
Instructions
New bank accounts

On
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The template includes 3 default bank accounts (B1 to B3) and a petty cash account (PC). You can add additional bank This
This sheet
sheet includes
includes detailed
instructions
accounts by inserting the appropriate number of rows anywhere between the first bank code (B1) and the petty cash code on
on setting
setting up
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and using
using this
this template.
template.
(PC) on the Set-up sheet, entering a new bank code in column A and entering a description for the bank account in column
B.
After adding the new bank codes to the Set-up sheet, you also need to insert the appropriate number of new rows on the
Accounts sheet anywhere between the first bank account and the petty cash code and copy the formulas in column A to G
from one of the existing rows. This will ensure that the new bank accounts are included in all the trial balance calculations on
the Accounts sheet.
Note: The default bank codes for the three bank accounts can be amended but the petty cash code (PC) must be retained.
We strongly recommend using bank codes that consist of one letter and a number as per the default bank account codes.
Customer Set-up
The Customers sheet can be used to create customer codes and enter the billing information of all customers. The customer
codes that are created on the Customers sheet are included in a list box in the Customer column on the Income sheet. We
therefore recommend using an abbreviated version of the customer name when creating customer codes because you will
not need to refer back to the Customers sheet in order to select the appropriate customer code when recording transactions
on the Income sheet.
The default customer codes list includes 20 customer codes, but you can add as many customers as you require by inserting
a new row above the "ZZZ" line. The customer code is not included on the tax invoice, but it is an important link to the billing
information that is included on the tax invoice.
The billing name, billing address and tax reference number is included on the tax invoice by looking up the information based
on the customer code that is specified on the Income sheet when transactions are recorded. If you do not want to display
any of the before mentioned details on the tax invoice, simply leave the appropriate field for the particular customer blank
when creating the customer code on the Customers sheet.
Note: You are required to specify a customer code when recording all income transactions. If you therefore have a lot of cash
customers, it may be pointless to create individual customer codes for all of these customers. We therefore recommend
setting up a default customer code that can be used when entering any transaction where a customer code is not required.
The customer information that is entered for this code on the Customers sheet will however be included on the tax invoices
for the transactions that are allocated to the default customer code. The customer information should therefore be left blank if
you don't want to include it on the tax invoice or you can include a general description like "Cash" instead.
The Income sheet should be used to account for all amounts that are received into a bank account. You may therefore also
want to create a default customer code that can be used to record all sundry receipts and bank account transfers where an
individual customer code may not be required.
Recording Transactions - Income
Note: We have included transaction examples on the Income, Expenses and NonCash sheets in order to illustrate the format
in which transactions should be recorded on these worksheets. You therefore need to replace these sample transactions
before recording your own transactions but be careful: you should only replace the data in the columns with a yellow column
heading. The columns with a light blue column heading contain formulas that should be copied to all the new rows of data
that are entered on each of these sheets. DO NOT replace or delete any of these formulas, otherwise you will have to
download the template again in order to revert back to the formulas that should be included in these cells!
Page 8 of 38
Instructions
All income and cash receipts that are received into any bank account should be recorded on the Income sheet. This
worksheet functions like the receipt side of a cashbook, but can also be used to record the information that needs to be On
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included on the tax invoice and to perform analytical review of income transactions by using the Filter feature (this feature is This
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instructions
enabled by default). on
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template.
All the column headings contain a filter selection arrow - this feature indicates that the Filter has been applied to the
worksheet. This Excel feature is very useful when you need to filter the data on the worksheet based on one of the filter
criteria that are available after clicking the selection arrow. The Filter feature can also be used to sort data based on a single
column and includes a "Custom" filter option which enables you to specify a custom filter that needs to be applied to the data
on the worksheet.
Example: If you only want to display the income transactions for a particular month, you can filter the data based on the
Invoice Date or Payment Date column by specifying filter criteria that includes all transaction dates greater than or equal to
the 1st day of the month and less than or equal to the last day of the month. After reviewing the filtered data, simply select
the "All" option in the filtered column in order to remove the filter and to display all the transactions on the worksheet.
As we've mentioned before, some column headings are formatted with a yellow cell background, while other column
headings are formatted with a light blue cell background. The columns with a yellow cell background require user input and
the columns with a light blue cell background contain formulas that should be copied for all new transactions that are entered
on the sheet. This is very important template attribute because the accuracy of all the reports is dependent on recording
transactions correctly. After entering the required data in all the yellow columns, please therefore make absolutely sure that
the formulas in the light blue columns have been copied to all the new transactions that have been added to the sheet.
You'll notice that there are totals that are included in the cells above all the amount columns (formatted in italic). These cells
contain a Subtotal function which results in all filtered records being included in the total that is calculated. This means that
after filtering data, only the transactions that are displayed on the worksheet are included in the calculation (column total). If
you therefore print the sheet while a filter is in effect, the totals above the column headings will be calculated accurately and
only include the transactions that have been printed.
Note: All the transactions that are recorded on the Income sheet need to be entered in a continuous cell range otherwise
some transactions may not be included in the template calculations. You should therefore not insert any blank rows between
the rows that contain data.
The following section provides detailed guidance on the user input that is required on the Income sheet:
Invoice Number - enter your invoice number or the appropriate transaction reference for cash receipt transactions. The
invoice number is important because the tax invoice is automatically populated based on the invoice number that is specified
in cell G11 on the Invoice sheet.
Invoice Date - enter the date of the tax invoice or the bank statement date for cash receipt transactions. We've added data
validation to this column to ensure that only valid dates are entered - you therefore need to ensure that you enter dates in
accordance with the regional date settings that are specified in the System Control Panel.
Customer - the list box in this column contains the customer codes that have been created on the Customers sheet. Note
that you have to create the appropriate customer code before you'll be able to allocate transactions to the particular
customer. If you copy transactions onto the Income sheet, you first need to make sure that all the customer codes exist
because the data validation that has been implemented on this sheet will not prevent incorrect customer codes from being
copied.
Description - enter a transaction description in this column.
Tax Inclusive Amount - enter the transaction amount inclusive of sales tax. Income and receipts should be entered as
positive amounts but if you have an expense or payment type transaction that is of an income or receipt nature, the
transaction amount can be entered as a negative value. For example, if you enter a transaction for a credit note that relates
to an invoice that has been recorded previously. In most instances, expenses should however be recorded on the Expenses
sheet.
Tax Code - this column contains a list box that enables you to select one of two tax codes. Select the "A" tax code for all
transactions that are subject to sales tax and the "E" tax code for all exempt transactions. If your business is not registered
for sales tax purposes, all transactions should be recorded by using the "E" tax code.
Page 9 of 38
Instructions
Bank Code - this column contains a list box that includes all the bank codes that have been added to the Set-up sheet.
Select the bank code of the bank account that will be affected by the particular transaction. Note that it is imperative that a On
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bank code is assigned to each transaction. This
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Account - the list box in this column contains all the accounts (and their descriptions) that have been created on the on
on setting
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template.
Accounts sheet. You therefore need to create the appropriate account on the Accounts sheet before transactions can be
allocated to the account. Note that you should be careful when deleting accounts from the Accounts sheet because this
could cause an imbalance in the template if transactions have been allocated to an account that has subsequently been
deleted.
Payment Date - enter the actual payment date in this column. The date that should be entered in this column should be the
date on which the payment was received from the customer. The payment date should be left blank if payment has not been
received from the customer - the outstanding amount will then be included in Trade Debtors. Note that the payment date
should always be greater than or equal to the invoice date.
Statement Date - enter the date on which the transaction is reflected on the bank statement in this column. The statement
date should be left blank if the payment has not yet been reflected on the bank statement - the outstanding amount will then
form part of the Outstanding Deposits total on the bank reconciliation. Note that the statement date should always be greater
than or equal to the payment date.
Exclusive Amount - the formula in this column basically deducts the sales tax amount from the inclusive amount in order to
calculate an amount excluding sales tax. For accounting purposes, the exclusive amounts are allocated to the income
statement, the sales tax amounts are allocated to the sales tax control account and the inclusive amounts are allocated to
trade debtors or bank (depending on whether the amounts have been paid or not).
Tax Amount - this column contains a formula that calculates the sales tax amount based on the tax code that has been
selected in column F. Sales tax will only be calculated if the sales tax code in column F is "A". The calculation is based on the
sales tax percentage that is specified on the Set-up sheet. If this percentage needs to be amended, you first have to copy all
the existing sales tax calculations in this column and paste the data as values. This will ensure that all the sales tax amounts
that are dated before the rate amendment are still calculated based on the previous sales tax percentage. When you then
amend the sales tax percentage, all transactions that are subsequently entered are based on the new percentage.
Inclusive Amount - the formula in this column rounds the tax inclusive amount that is entered in column E to 2 decimals.
The amounts in both of these columns will therefore appear to be exactly the same.
Error Code - this column will contain an error code if there is a problem with the input in any of the previous columns. All the
error codes that are displayed in this column should therefore be corrected in order to ensure that all the template
calculations remain accurate. Refer to the Error Codes section of these instructions for more information about the reasons
for an error code and how to resolve it.
Note: The list box in the Account column contains both the account number and the account description, but only the
appropriate account number should be selected when allocating transactions. Excel actually does not allow the inclusion of
two columns in a list box, but we have implemented a work around in order to provide the account description together with
the account number. However, because of the implementation of this feature, you will not be able to enter the account
number into the Account column and all account numbers should therefore be selected from the list box or copied from an
existing similar transaction.
The transactions that are entered on the Income sheet are automatically updated to the trial balance, bank reconciliation,
income statement, cash flow report and balance sheet. It is therefore imperative that all transactions are entered according to
the guidance that is outlined in this section of the instructions, otherwise it could result in imbalances in the template. We
also recommend that you make absolutely 100% sure that the formulas in the light blue columns are copied to all the rows
on this sheet that contain data because it is one of the most common causes of an imbalance in the template.
Tax Invoice Template
A tax invoice template has been included on the Invoice sheet. You can create, view or print any tax invoice by simply
copying or entering the appropriate invoice number into cell G11 on the Invoice sheet. All the information that is included on
the tax invoice should be entered on the Set-up, Customers and Income sheets respectively and the tax invoice is
automatically updated based on the invoice number that is specified in cell G11.
Page 10 of 38
Instructions
The invoice heading and business details (business name, business address, contact details, tax reference number and
business registration number) are entered on the Set-up sheet. The Customer information is looked up from the Customers On
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sheet based on the customer code that is entered on the Income sheet for the particular invoice. This
This sheet
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includes detailed
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on
on setting
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up and
and using
using this
this template.
template.
As we mentioned before, the invoice number needs to be copied and pasted or entered into cell G11, while the tax invoice
date is looked up from the Income sheet. The invoice date should be the same for all the lines that need to be included on
the invoice. If different dates are entered for the same invoice in the Invoice Date column on the Income sheet, the first
invoice date will be displayed on the tax invoice.
The description and amounts of the invoice are also looked up on the Income sheet based on the invoice number that is
entered in column A. If you need to include multiple items on the same invoice, simply enter the same invoice number in
multiple rows on the Income sheet. All the rows on the Income sheet up to a maximum of 20 rows per invoice will
automatically be added to the invoice.
The banking details that are displayed at the bottom of the tax invoice are looked up on the Set-up sheet. If you don't want to
include the banking details on the tax invoice, simply delete this cell range and the borders around it from the Invoice sheet.
If you want to customize the invoice template to your own requirements (example: changing fonts, colours, etc.), you will be
able to do so but do not replace any of the formulas because it may result in the information that is included on the tax
invoice being inaccurate. Also note that you can insert your own artwork in the heading section of the invoice by deleting the
default image placeholder.
Recording Transactions - Expenses
All expenses and other payments that are processed through any of the bank or petty cash accounts should be recorded on
the Expenses sheet. This worksheet functions like the payment side of a cashbook, but can also be used to perform an
analytical review of expense transactions by using the Filter feature.
All the column headings contain a filter selection arrow - this feature indicates that the Filter feature has been applied to the
worksheet. This Excel feature is very useful when you need to filter data based on one of the filter criteria that are available
after clicking the selection arrow. The Filter feature can also be used to sort data based on a single column and includes a
"Custom" filter option which enables you to specify a custom filter that needs to be applied to the selected data.
Example: If you only want to display the expense transactions for a particular month, you can filter the data based on the
Document Date or Payment Date column by specifying filter criteria which includes all transaction dates greater than or equal
to the 1st day of the month and less than or equal to the last day of the month. After reviewing the filtered data, simply select
the "All" option in the filtered column in order to remove the filter and to display all the transactions on the worksheet.
the columns with a light blue cell background contain formulas that should be copied for all new rows of data that are entered
on the sheet. This is very important template attribute because the accuracy of all the reports is dependent on recording
transactions correctly. After entering the required data in all the yellow columns, please therefore make absolutely sure that
the formulas in the light blue columns have been copied to all the new rows that have been added to the sheet.
You'll notice that there are totals that are included in the cells above all the amount columns (formatted in italic). These cells
contain a Subtotal function which results in all filtered records being included in the total that is calculated. This means that
after filtering data, only the transactions that are displayed on the worksheet are included in the calculation (column total). If
you therefore print the sheet while a filter is in effect, the totals above the column headings will be calculated accurately and
only include the transactions that have been printed.
Page 11 of 38
Instructions
Note: All the transactions that are recorded on the Expenses sheet need to be entered in a continuous cell range otherwise
some transactions may not be included in the template calculations. You should therefore not insert any blank rows between On
Onthis
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sheet:
the rows that contain data. This
This sheet
sheet includes
includes detailed
instructions
on
on setting
setting up
up and
and using
using this
this template.
template.
The following section provides detailed guidance on the user input that is required on the Expenses sheet:
Document Date - enter the supplier invoice date or the bank statement date for cash payment transactions. We've added
data validation to this column to ensure that only valid dates are entered - you therefore need to ensure that you enter dates
in accordance with the regional date settings that are specified in the System Control Panel.
Supplier - enter the name of the supplier. If the Auto Complete feature is enabled, you should be able to accept its
suggestion of the supplier name after entering only a few characters. Note that it is important to enter supplier names
accurately if you want to use the Filter feature to display only the transactions for a particular supplier.
Reference - enter a reference for the transaction in this column. For example, this could be the supplier invoice number or a
more general reference like "Debit Order" or "Bank Statement".
Description - enter a transaction description in this column.
Tax Inclusive Amount - enter the transaction amount inclusive of sales tax. Expenses and payments should be entered as
positive amounts but if you have an income or receipt type transaction that is of an expense or payment nature, the
transaction amount can be entered as a negative value. For example, entering a credit that has been received from a
supplier and relates to a supplier invoice that has been recorded previously. In most instances, income should however be
recorded on the Income sheet.
Tax Code - this column contains a list box that enables you to select one of two tax codes. Select the "A" tax code for all
transactions that are subject to sales tax and the "E" tax code for all exempt transactions. If your business is not registered
for sales tax purposes, all transactions should be recorded by using the "E" tax code.
Bank Code - this column contains a list box that includes all the bank codes that have been added to the Set-up sheet.
Select the bank code of the bank account that will be affected by the particular transaction. Note that it is imperative that a
bank code is assigned to each transaction.
Account - the list box in this column contains all the accounts (and their descriptions) that have been created on the
deleted.
Payment Date - enter the actual payment date in this column. The date that should be entered in this column should be the
date on which the payment is made to the supplier. The payment date should be left blank if payment has not been made to
the supplier - the outstanding amount will then be included in Trade Creditors. Note that the payment date should always be
greater than or equal to the document date.
Statement Date - enter the date on which the transaction is reflected on the bank statement in this column. The statement
date should be left blank if the payment has not yet been reflected on the bank statement - the outstanding amount will then
form part of the Outstanding Withdrawals total on the bank reconciliation. Note that the statement date should always be
greater than or equal to the payment date.
Exclusive Amount - the formula in this column basically deducts the sales tax amount from the inclusive amount in order to
calculate an amount excluding sales tax. For accounting purposes, the exclusive amounts are allocated to the income
statement, the sales tax amounts are allocated to the sales tax control account and the inclusive amounts are allocated to
trade creditors or bank (depending on whether the amounts have been paid or not).
Tax Amount - this column contains a formula that calculates the sales tax amount based on the tax code that has been
selected in column F. Sales tax is only calculated if the sales tax code in column F is "A". The calculation is based on the
sales tax percentage that is specified on the Set-up sheet. If this percentage needs to be amended, you first have to copy all
the existing sales tax calculations in this column and paste the data as values. This will ensure that all the sales tax amounts
that are dated before the rate amendment are still calculated based on the previous sales tax percentage. When you then
amend the sales tax percentage, all transactions that are subsequently entered are based on the new percentage.
Inclusive Amount - the formula in this column rounds the tax inclusive amount that is entered in column E to 2 decimals.
The amounts in both of these columns will therefore appear to be exactly the same.
Error Code - this column will contain an error code if there is a problem with the input in any of the previous columns. All the
error codes that are displayed in this column should therefore be corrected in order to ensure that all the template
calculations remain accurate. Refer to the Error Codes section of these instructions for more information about the reasons
for an error code and how to resolve it.
Page 12 of 38
Instructions
The transactions that are entered on the Expenses sheet are automatically updated to the trial balance, bank reconciliation, On
Onthis
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sheet:
income statement, cash flow report and balance sheet. It is therefore imperative that all transactions are entered according to
This
This sheet
sheet includes
includes detailed
instructions
the guidance that is outlined in this section of the instructions, otherwise it could result in imbalances in the template. We
also recommend that you make absolutely 100% sure that the formulas in the light blue columns are copied to all the rows on
on setting
setting up
up and
and using
using this
this template.
template.
that contain data because it is one of the most common causes of an imbalance in the template.
Recording Non-Cash Transactions
The Income and Expenses sheets facilitate the recording of all transactions of a cash or bank account nature. There is
however also a requirement to include non-cash transactions in business accounts and this functionality has been provided
for on the NonCash sheet.
Examples of these types of entries are depreciation, income & expenses funded through a loan account, accruals and
provisions. Most of these entries are usually recorded by processing general ledger journals and this is exactly what the
NonCash sheet facilitates.
All the column headings contain a filter selection arrow - this feature indicates that the Filter feature has been applied to the
worksheet. This Excel feature is very useful when you need to filter the data based on one of the filter criteria which are
available after clicking the selection arrow. The Filter feature can also be used to sort data based on a single column and
includes a "Custom" filter option that enables you to specify a custom filter that needs to be applied to the data on a
worksheet.
Example: If you only want to display the non-cash transactions for a particular month, you can filter the data based on the
Document Date column by specifying filter criteria which includes all transaction dates greater than or equal to the 1st day of
the particular month and less than or equal to the last day of the month. After reviewing the filtered data, simply select the
"All" option in the filtered column in order to remove the filter and to display all the transactions on the worksheet.
the columns with a light blue cell background contain formulas that should be copied for all new transactions that are entered
on the sheet. The NonCash sheet includes only one column containing a formula and it is therefore the only column that
needs to be copied when entering new transactions.
You'll notice that there is a total that is included in the cell above the Amount column (formatted in italic). This cell contains a
Subtotal function which results in all filtered records being included in the total that is calculated. This means that after
filtering data, only the transactions that are displayed on the worksheet are included in the calculation (column total). If you
therefore print the sheet while a filter is in effect, the total above the column heading will be calculated accurately and only
include the transactions that have been printed.
Note: All the transactions that are recorded on the NonCash sheet need to be entered in a continuous cell range otherwise
some transactions may not be included in the template calculations. You should therefore not insert any blank rows between
the rows that contain data.
The NonCash sheet transactions are not processed through a control account like Bank, Trade Debtors or Trade Creditors.
This sheet should therefore not be treated in the same way as the Income and Expenses sheets. In fact, you are required to
record both the debit and credit journal entries and the total of all the entries in the Amount column on this sheet should
therefore always be nil.
In this context, a positive amount refers to a debit entry which results in an increase in expenses or assets and a
decrease in income or liabilities, while a negative amount refers to a credit entry which results in an increase in
revenue or liabilities and a decrease in expenses or assets. The important point to note is that you need to record a
debit and a credit entry for each non-cash transaction that is recorded on this sheet and that the total of all the
individual journal entries should therefore always be nil.
Page 13 of 38
Instructions
Example: If we want to record a non-cash transaction for depreciation, a positive amount of (say) 5,000 needs to be entered
in the Amount column and allocated to the appropriate depreciation expense account, while a negative amount of 5,000 On
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needs to be entered in the next row and allocated to the accumulated depreciation account. The total of the debit and credit This
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entries in the Amount column is therefore nil. On the income statement, the depreciation expense is increased by 5,000, on
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template.
while the accumulated depreciation account which is included in the Property, Plant & Equipment account group on the
balance sheet is also increased by the same amount (resulting in a decrease in the Property, Plant & Equipment line item on
the balance sheet).
In order to provide an additional control to ensure that the total of all the entries on this sheet is always nil, we have
included a test formula with conditional formatting in cell F3. This cell displays a green "ok" message if the total of
all the entries on the sheet is nil and displays an orange "error" message if the total of all the entries on the sheet
does not equal nil. You therefore need to ensure that this cell always contains an "ok" text message, otherwise an
imbalance may be encountered on your balance sheet!
The following section provides detailed guidance on the user input that is required on the NonCash sheet:
Document Date - enter the transaction date of the non-cash (journal type) transaction. The date that is entered in this
column determines in which period the transaction is included in the income statement, cash flow report and balance sheet.
We have added data validation to this column in order to ensure that only valid dates are accepted. You therefore need to
ensure that all dates are entered in accordance with the regional date settings that are specified in the System Control
Panel.
Transaction Reference - enter a reference for the non-cash transaction in this column.
Description - enter a transaction description into this column.
Account - the list box in this column contains all the accounts (and their descriptions) that have been created on the
deleted.
Amount - enter the transaction amount. As we mentioned before, a positive amount represents a debit entry and a negative
amount represents a credit entry. The total of all the debit and credit entries that relate to a particular non-cash transaction
should always be nil. A non-cash transaction can consist of multiple debit and credit entries (usually a minimum of two rows
which include at least one debit and one credit amount) but there is no limit on the number of entries that can be included in
one non-cash transaction as long as the total of all the entries equals nil.
Error Code - this column contains a formula that needs to be copied for each new transaction that is added to the sheet. An
error code will be displayed if there is a problem with the input in any of the previous columns. All the error codes that are
displayed in this column should therefore be corrected in order to ensure that all the template calculations remain accurate.
Refer to the Error Codes section of these instructions for more information about the reasons for an error code and how to
resolve it.
The transactions that are entered on the Non-Cash sheet are automatically updated to the income statement, cash flow
report and balance sheet. It is therefore imperative that all transactions are entered according to the guidance that is outlined
in this section of the instructions, otherwise it could result in imbalances in the template.
Note: You also need to ensure that the document date of each entry which forms part of a non-cash transaction is
the same as the document dates of all the other entries. If you enter a debit and a credit entry which totals nil but the
document dates fall into different reporting periods, you may encounter an imbalance on the balance sheet as a
result of the two entries being included in two different reporting periods.
Recording Transactions - Transfers between Bank Accounts
When funds are transferred between two bank accounts, both the deposit and withdrawal entries need to be recorded. We
recommend recording both entries on the Expenses sheet. The deposit entry should be recorded by selecting the bank
account into which the funds are transferred and entering the transfer amount as a negative value (use a tax code of "E").
The withdrawal entry should be recorded by selecting the bank account from which the funds are transferred and entering a
positive amount (also use a tax code of "E").
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Instructions
All transfers between bank accounts should be allocated to the Cash Transfer Control account (BS-399). By using this
default account for all bank transfers, you can therefore easily determine when only one of the entries (deposit or withdrawal) On
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Note: You can check whether the balance of the Cash Transfer Control account is nil by selecting the appropriate month end
from the list box in cell G3 on the Accounts sheet and checking whether the balance for account BS-399 is nil. If the balance
is not nil, the transactions for the appropriate period should be reviewed in order to determine why the allocations to the
Cash Transfer Control account do not result in a nil balance.
Note: Petty cash transactions should be treated in the same way as transactions that are processed through a bank account.
This means that petty cash reimbursements should also be treated as transfers between bank accounts and allocated to the
Cash Transfer Control account. Both the withdrawal out of the appropriate bank account and the "deposit" of cash into the
petty cash account should therefore be recorded.
Error Codes
The following error codes may result from inaccurate input on the Income, Expenses and NonCash sheets and will be
displayed in the Error Code columns. The heading of the affected input column will also be highlighted in orange:
■ E1 - this error code means that the payment date that has been entered in column I on the Income or Expenses sheet is
before the invoice or document date. These errors can be rectified by either amending the appropriate invoice or document
date or amending the appropriate payment date.
■ E2 - this error code means that the statement date that has been entered in column J on the Income or Expenses sheet is
before the payment date or that a statement date has been entered while the payment date has been left blank. These errors
can be rectified by either amending the appropriate payment date or amending the appropriate statement date.
■ E3 - this error code means that the customer code that has been selected in column C on the Income sheet is invalid. All
the customer codes that have been entered on the Customers sheet will be included in the list boxes in column C and the
error can therefore be rectified by simply selecting a valid customer code from the appropriate list box. New customer codes
must be created on the Customers sheet before being available for selection.
■ E4 - this error code means that the account number that has been selected in column H on the Income or Expenses sheet
or column D on the NonCash sheet is invalid. All the accounts that have been entered on the Accounts sheet will be included
in the list boxes in the Account columns and the error can therefore be rectified by simply selecting a valid account number
from the appropriate list box. New accounts must be created on the Accounts sheet before being available for selection.
■ E5 - this error code means that the bank account code that has been selected in column G is invalid. All the bank account
codes that have been created on the Set-up sheet will be included in the list boxes in column G and the error can therefore
be rectified by simply selecting a valid bank account code from the list box. New bank account codes must be created on the
Set-up sheet before being available for selection.
Note: Input errors may result in inaccurate template calculations and it is therefore imperative that all errors are resolved
before reviewing the income statement, cash flow report and balance sheet. These errors may in fact also cause the balance
sheet not to balance.
Bank Reconciliation
The bank reconciliation that is included on the BankRecon sheet is automatically calculated based on the transactions that
are entered on the Income and Expenses sheets, the bank account code that is selected from the list box in cell B4 and the
reconciliation date that is specified by the user in cell B6 on the BankRecon sheet. The opening and closing cashbook
balances are calculated based on the payment dates that are entered on the Income and Expenses sheets and the
calculated bank statement balances are determined based on the dates that are entered in the statement date columns.
The only user input that is required on the BankRecon sheet is selecting the appropriate bank code in cell B4, entering the
reconciliation date in cell B6 and entering the actual bank statement balance in cell B26. Note that the bank reconciliation is
performed on an individual bank account basis and you therefore need to select the appropriate bank code in order to review
the bank reconciliation for the selected bank account.
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Instructions
The opening balances on the bank reconciliation are calculated based on the month end date that preceeds the
reconciliation date that is specified in cell B6. The cashbook balance includes all the transactions on the Income and On
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Expenses sheets with payment dates on or before the previous month end date and should agree to the appropriate bank This
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balance on the trial balance at the end of the month that preceeds the reconciliation date. The calculated bank statement on
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template.
balance includes all transactions on the Income and Expenses sheets with statement dates on or before the previous month
end date.
Note: When comparing bank balances to the balances on the trial balance, you must make sure that the correct month end
date has been selected from the list box in cell G3 on the Accounts sheet otherwise you may be comparing the bank
reconciliation to the bank balance at the end of the wrong period.
The outstanding deposits total includes all transactions on the Income sheet with payment dates that are before the previous
month end date and statement dates that are after this date or blank. Similarly, the outstanding withdrawals total includes all
transactions on the Expenses sheet with payment dates that are before the previous month end date and statement dates
that are after this date or blank. Note that blank statement dates indicate that the transactions have not been reflected on the
bank statement.
The total withdrawals for the current month includes all transactions on the Expenses sheet with payment dates that fall
between the first day of the month and the reconciliation date that is specified in cell B6. Similarly, the total deposits for the
current month includes all transactions on the Income sheet with payment dates that fall between the first day of the month
and the reconciliation date that is specified in cell B6. Note that both of these amounts are calculated regardless of whether a
statement date has been entered for the particular transaction.
Also note that transactions dated (in the Payment Date columns on the Income and Expenses sheets) after the reconciliation
date are not included in the calculations on the BankRecon sheet. The Cashbook Closing Balance therefore includes all the
transactions on the Income and Expenses sheets with a payment date that is on or before the reconciliation date that is
specified in cell B6. If the reconciliation date is a month end date, the cashbook balance should agree to the appropriate
bank balance on the trial balance for the particular month.
The outstanding deposits total under the Closing Balances section includes all transactions on the Income sheet with
payment dates that are on or before the reconciliation date and statement dates that are after this date or blank. Similarly,
the outstanding withdrawals total includes all transactions on the Expenses sheet with payment dates that are on or before
the reconciliation date and statement dates that are after this date or blank.
The Calculated Bank Statement Balance is arrived at by deducting the outstanding deposits total from the Cashbook Closing
Balance and adding the outstanding withdrawals to this balance. The calculation therefore reflects the cashbook balance
before taking the entries that are not reflected on the bank statement into account. This amount should therefore agree to the
actual bank statement balance on the reconciliation date.
The Actual Bank Statement Balance on the reconciliation date should be entered in cell B26 and cell B28 reflects the
difference between the calculated and actual bank statement balances. Cell C28 will contain a green "ok" message if the two
balances are equal and an orange "error" message if the balances are not equal.
If an error message is displayed, it means that the entries on the actual bank statement and the transactions that
were recorded on the Income and Expenses sheets do not reconcile. There could be a number of explanations for
an error being encountered:
■ An entry that is included on the Income or Expenses sheet does not appear on the bank statement but a statement date
has been entered for the particular entry.
■ An entry that is included on the Income or Expenses sheet appears on the bank statement but a statement date has not
been entered for the particular entry.
■ The statement date that has been entered on the Income or Expenses sheet is incorrect.
■ An entry that appears on the bank statement has not been recorded on the Income or Expenses sheet.
■ The transaction amount on the actual bank statement does not agree to the transaction amount that has been entered on
the Income or Expenses sheet.
■ An incorrect bank code may have been assigned to a transaction on the Income or Expenses sheet.
Page 16 of 38
Instructions
As you can see, there are a number of reasons why an unexplained difference can be encountered after performing a bank
reconciliation. It is therefore absolutely essential that you take care while entering the transaction amounts, payment dates On
Onthis
thissheet:
sheet:
and statement dates on the Income and Expenses sheets in order to ensure that all cashbook and bank statement balances This
This sheet
sheet includes
includes detailed
instructions
are calculated accurately. It could be quite a time consuming exercise to find the reason for an unexplained difference on a on
on setting
setting up
up and
and using
using this
this template.
template.
bank reconciliation.
Fortunately, we have designed this template in such a way that it should be reasonably easy to find an explanation
for any unexplained differences that may be encountered! When you encounter an unexplained difference between
the calculated and actual bank statement balances, we recommend that you complete the following steps in order to
find an explanation for the difference:
■ Identify the first date on which there is a difference between the calculated and actual bank statement balances - this can
be accomplished by changing the reconciliation date in cell B6 and comparing the calculated bank statement balance to the
actual bank statement balance for each day in the particular month.
■ We recommend that you start with the first day of the particular month and enter all subsequent dates (and actual bank
statement balances at the end of each day) until you find a difference between the calculated and actual bank statement
balances.
■ We also recommend that you sort the transactions on the Income and Expenses sheets in ascending order according to
the Statement Date column in order to simplify the completion of this exercise.
■ Review the dates that have been entered in the Statement Date column on the Income and Expenses sheets for all days
where an unexplained difference exists and ensure that the amounts on these sheets and the actual bank statement agree,
the statement dates have been entered accurately in the Statement Date column, all entries on the actual bank statement
have been included on either the Income or Expenses sheet and a statement date has been entered on the Income or
Expenses sheet for all the entries on the actual bank statement. Also ensure that all deposits are recorded on the Income
sheet, all withdrawals are recorded on the Expenses sheet and that the correct bank code has been assigned to each
transaction.
This procedure should enable you to correct all the errors that have been made while recording the transactions that form
part of the bank reconciliation.
Monthly Income Statement & Cash Flow Report
The CashFlowMonthly sheet includes a detailed monthly income statement and a monthly cash flow report. The income
statement is automatically calculated based on the tax exclusive amounts that are recorded on the Income, Expenses and
Non-Cash sheets and allocated to the appropriate income statement accounts. The only user input that is required on this
sheet is to include additional expense accounts on the report if additional accounts have been created on the Accounts
sheet.
The report is extended beyond the Net Profit line to also include a monthly cash flow analysis which is also based on the
transactions on the same sheets and incorporates the payment period that is specified for each transaction. The balance
sheet account movements are calculated from the monthly balance sheet.
The CashFlowMonthly sheet includes 12 monthly periods that are determined based on the Report Start Date that is entered
on the Set-up sheet. You can therefore change the 12 month period that is included on the income statement by simply
entering a new Report Start Date on the Set-up sheet. Note that this will also change the periods that are included on the
monthly balance sheet because the income statement and balance sheet reports are compiled based on the same date
range.
The monthly income statement has been designed in a pre-defined format but does provide for some user customization.
The expense accounts that are included in the "IS-300" account range are displayed individually on the report to facilitate
performing a monthly analytical review of these expense account line items. By default, 19 individual expense accounts are
included in this account range but additional accounts up to a maximum of 100 expense accounts can be added if required.
All additional expense accounts should be created on the Accounts sheet before manually inserting the appropriate number
of rows in the Expenses section of the income statement. We recommend that you insert individual rows by positioning the
cursor below the row where the account needs to be inserted (based on the existing account number sequence) and then
using the Insert Rows Excel feature to insert an empty row.
Page 17 of 38
Instructions
After inserting a new row, enter the account number in column A and simply copy all the formulas in the other columns from
one of the existing expense account rows. If you have not inserted the accounts based on the existing account number On
Onthis
thissheet:
sheet:
sequence, you can select all the cells in the Expense account section (excluding the Total row) and sort the cells based on This
This sheet
sheet includes
includes detailed
instructions
the account numbers in column A. on
on setting
setting up
up and
and using
using this
this template.
template.
Note: It is absolutely essential that all expense accounts that are added to the Accounts sheet are included in the
monthly income statement, otherwise the expense entries that relate to some transactions may not be included in
the report, the calculated cash balance at the end of the month may therefore be inaccurate and the balance sheet
may reflect errors because of an imbalance. If you are in any doubt as to whether all expense accounts have been
included in the monthly income statement, refer to the Accounts sheet - we have implemented conditional
formatting in the account number column which highlights the accounts that are not included on the monthly
income statement in orange and the accounts that are not included in the annual income statement in purple.
All the other lines on the monthly income statement and cash flow report are calculated based on pre-defined line items
(account groups) and can therefore not be customized. You will not be able to insert additional rows on the report in order to
display more detailed information. If you need to analyse individual account balances, we recommend applying the Filter
feature to the Income, Expenses and Non-Cash sheets.
Note: The cash balance at the end of each monthly period as calculated in the last row on the CashFlowMonthly sheet
should equal the sum of all the bank account balances (excluding the petty cash account) if all transactions have been
recorded correctly and should agree to the Bank line on the balance sheet. The petty cash account is included separately on
the balance sheet and the monthly cash movement in the petty cash balance is included under the "Changes in Working
Capital" section on the abbreviated cash flow report.
Annual Income Statement & Cash Flow Report
The annual income statement and cash flow report on the CashFlowAnnual sheet provides a summary of the income
statement and cash flow report on an annual, year-to-date and monthly basis based on the Year End that is specified on the
Set-up sheet. The report also includes an income statement and cash flow report for the previous (comparative) year. The
current and comparative year portion of the year end dates are determined based on the Report Start Date that is also
specified on the Set-up sheet.
Example: If the Report Start Date is specified as 2011/03/01 and a Year End month of February is selected, the current
financial year that will be included on the annual income statement will be Feb-2012 and the comparative financial year will
be Feb-2011. If a Year End month of June is however selected and the Report Start Date is the same, the current financial
year end will be Jun-2011 and the comparative financial year end will be Jun-2010. The financial periods that are included on
the annual income statement are therefore always determined based on the financial year that the Report Start Date falls
into.
Note: As discussed under the Monthly Income Statement section, the Expenses section of the report can be
customized to include additional accounts. All additional accounts should also be manually inserted on the annual
income statement by inserting a new row for each individual account, entering the appropriate account number in
column A and copying the formulas in the other columns from one of the existing rows in the Expenses section (for
the Annual, Year-to-Date and Monthly columns of the report).
The periods that are included in the Year-to-Date and Monthly columns are determined based on the calendar month that is
selected from the list box in cell H1. The appropriate financial years that the selected calendar month falls into are
determined based on the Report Start Date that is specified on the Set-up sheet.
Example: If the Report Start Date is specified as 2011/06/01, the Year End is specified as June (on the Set-up sheet) and the
June calendar month is selected from the list box in cell H1, the Year-to-Date and Monthly balances will be calculated for the
Jun-2011 financial period. If the Report Start Date and the Year End is the same and the July calendar month is selected
from the list box in cell H1, the Year-to-Date and Monthly balances will be calculated for the July-2010 financial period. This
is because this month falls into the financial year that ends in June 2011 and the Report Start Date falls into the 2011
financial year.
Page 18 of 38
Instructions
All the calculations on the annual income statement and cash flow report are automated and calculated based on the periods
that are defined on the Set-up sheet and selected from the list box in cell H1 (for year-to-date and monthly columns). This On
Onthis
thissheet:
sheet:
functionality enables users to easily view a report for any monthly period of the financial year that the Report Start Date falls This
This sheet
sheet includes
includes detailed
instructions
into. on
on setting
setting up
up and
and using
using this
this template.
template.
This approach is slightly different from the monthly income statement and cash flow report. The monthly income statement
always includes a 12 month period that starts from the Report Start Date and includes 11 other subsequent periods, while
the annual income statement will always be based on the financial year that the Report Start Date forms part of. The monthly
periods on these two reports may therefore not always be exactly the same - you can however base both reports on the
same monthly periods by specifying the first day of the financial year as the Report Start Date on the Set-up sheet.
Balance Sheet
The entire monthly balance sheet is automatically calculated from the transactions that are recorded on the Income,
Expenses and Non-Cash sheets and the account groups that are included on the balance sheet are determined by the
default account structure as per the Accounts sheet. You will therefore not be able to change the layout of the balance sheet.
We have also included two rows below the balance sheet that include control totals which indicate whether the accounting
template is in balance. The first row indicates whether the total assets and total equity & liabilities balance and the second
row indicates whether the Bank balance on the balance sheet agrees to the appropriate closing cash balance on the monthly
cash flow report.
Both control totals should always display an "ok" status but if there is a problem with the control total that is
calculated, an orange "error" message will be displayed. This error message means that there is an imbalance in the
template. The following steps need to be completed in order to resolve this error:
■ Open the Accounts sheet and ensure that the template opening balances (column C) add up to a total of nil. If your
opening balances don't balance, the balance sheet will also not balance.
■ Open the NonCash sheet and ensure that an "ok" message is displayed in cell F3. If an error message is displayed in this
cell, it means that total of the journal entries that have been entered on the NonCash sheet is not nil. Review all journal
entries and correct the entries that don't add up to a nil value.
■ Open the Accounts sheet and ensure that there are no expense accounts (IS-300 accounts) that are highlighted in orange
or purple. If an account is highlighted in orange or purple, it means that the account has not been inserted on the monthly or
annual income statement. Insert the account on the appropriate sheet to correct the error.
■ Review the monthly income statement and ensure that there are no expense accounts that have been duplicated. If a
duplicate account number is found, simply delete the appropriate row.
■ Review the Income, Expenses and NonCash sheets and ensure that there are no error codes in the Error Code columns.
The Error Code columns on all three sheets should contain no error codes - if an error code is displayed in any transaction
row, refer to the Error Codes section of these instructions for guidance on the reason why an error code is displayed and the
corrective action that needs to be taken.
■ Review the Income, Expenses and NonCash sheets and ensure that all the formulas in all the columns with light blue
column headings have been copied to all the rows that contain data. We recommend that you copy the formulas in the first
row that contains a transaction to all the other rows that contain data in order to ensure that all the formulas have been
copied correctly.
■ Review the Income and Expenses sheets and ensure that a bank code has been allocated to all transactions. If there are
any blank cells in the Bank Code column, select the appropriate bank code from the list box.
■ If there is an imbalance between two monthly periods on the balance sheet, review the NonCash sheet and ensure that all
the individual journal entries contain the same date.
■ Review the invoice date, document date and statement date columns on the Income, Expenses and NonCash sheets and
ensure that all dates have been entered in accordance with the regional date settings that are specified in the System
Control Panel.
If you've completed all the above steps and still cannot resolve the imbalance on the monthly balance sheet, contact
our Support function for assistance. We'll require your version of the template to be e-mailed to us and we'll assist
you in correcting the imbalance and provide you with an explanation as to why the imbalance occurred.
Page 19 of 38
Instructions
Template Settings
On
Onthis
thissheet:
sheet:
This
This sheet
sheet includes
includes detailed
instructions
The functionality that has been included in this accounting template uses data validation and named cell ranges in order to
validate all user input and to produce the reports that form part of this template. Most of the formulas that are used in this on
on setting
setting up
up and
and using
using this
this template.
template.
template are based on named cell ranges that include the first 1,000 rows on the Income and Expenses sheets and the first
100 rows on the NonCash sheet. When the number of transactions that you've recorded on the Income, Expenses and Non-
Cash sheets reaches this limit, you will therefore have to extend the default number of rows in order to include all your
recorded transactions in the template calculations.
The named cell ranges can be extended by selecting the main Insert menu, selecting the Name menu option and then
selecting the Define menu option in order to open the Define Name dialog box. The calculations that include the transactions
on the Income and Expenses sheets are all based on the "Records" named range. This named cell range includes a default
value of 1,000 - you can therefore extend the number of transactions that are included in the template calculations by simply
entering a new value for this named range and clicking the OK button. Similarly, the calculations that include the transactions
on the NonCash sheet can be extended by simply replacing the default value of 100 for the "RecordsNC" named range.
The data validation features that are used to validate user input on the Income, Expenses and NonCash sheets have been
implemented in the first 1,000 rows on this sheet. Before you reach this limit, you can simply copy one of the blank rows
before row 1,000 and paste the cells in this row to the required number of rows. This action will copy all the data validation
features to the target cell range.
Roll Forward for Subsequent Financial Periods
After specifying an initial Template Start Date and entering the required opening balances, the template does not need to be
rolled forward for subsequent reporting periods. The reporting periods can be adjusted by simply entering a new date into the
Report Start Date input cell on the Set-up sheet as we've explained earlier on in these instructions. No other roll forward
steps need to be completed.
Help & Customization
If you experience any difficulty while using this template and you are not able to find the appropriate guidance in these
instructions, please e-mail us at support@excel-skills.com for assistance. This template has been designed with flexibility in
mind to ensure that it can be used in most business environments. If however you need an Excel based template that is
customized specifically for your business requirements, please e-mail our Support function and provide a brief explanation of
your requirements.
© Copyright
This template remains the intellectual property of www.excel-skills.com and is protected by international copyright laws. Any
publication or distribution of this template outside the scope of the permitted use of the template is expressly prohibited. In
terms of the permitted use of this template, only the distribution of the template to persons within the same organisation as
the registered user or persons outside the organisation who can reasonably be expected to require access to the template
as a direct result of the use of the template by the registered user is allowed. Subsequent distribution of the template by
parties outside of the organisation is however expressly prohibited and represents an infringement of international copyright
laws.
Page 20 of 38
Example (Pty) Ltd
Set-up
Business Details
Business Name Example (Pty) Ltd
Business Address
Line 1 Building Name On
On this
this sheet:
sheet:
Line 2 Street Address Customize
Customize the the template
template for for your
your business
business by by entering
entering your
your business
business details
details into
into
Line 3 Suburb the
the input
input cells
cells on on this
this sheet.
sheet. The
The information
information in in the
the business
business details
details section
section is is
Line 4 Town included on the tax invoice, the sales tax percentage is applied
included on the tax invoice, the sales tax percentage is applied to the transactions to the transactions
that are entered on the Income and Expenses sheets, the
that are entered on the Income and Expenses sheets, the banking details are banking details are
Line 5 9999
included
included on on the
the tax
tax invoice
invoice andand the
the report
report dates
dates determine
determine thethe periods
periods thatthat are
are
included
included on on allall the
the reports.
reports. The
The template
template start
start date
date determines
determines the the first
first financial
financial
Contact Number +27 21 999 9999 period
period thatthat is
is included
included in in the
the template,
template, thethe report
report start
start date
date determines
determines the the periods
periods
Fax Number +27 21 999 0000 that
that are
are included
included on on the
the trial
trial balance,
balance, income
income statement,
statement, cashcash flow
flow report
report and
and
Web Site www.example.com balance
balance sheetsheet andand youyou can
can select
select any
any month
month from
from the
the list
list box
box in
in the
the year
year endend input
input
Contact E-mail info@example.com cell.
cell. You
You can
can also
also create
create additional
additional bank
bank accounts
accounts ifif the
the 33 default
default accounts
accounts are are not
not
sufficient.
sufficient.
Sales Tax Reference Number 9999 999 9999
Business Registration Number 2011 000000 00
Sales Tax Percentage 14.0%
Banking Details:
Account Type Current Account

Bank Example Bank
Bank Code 999-999
Account Number 1111 999 888
Report Set-up
Template Start Date 3/1/2017
Report Start Date 3/1/2017
Year End February
Bank Accounts
Code Description
B1 B1 Bank Account
B2 B2 Bank Account
B3 B3 Bank Account
PC Petty Cash
Input Error Codes

Code Reason
E1 Payment date is before the invoice / document date
E2 Statement date is before the payment date
E3 Customer code is invalid
E4 Account number is invalid
E5 Bank code is invalid
January
February
March
April
May
June
July
August
September
October
November
December
Page 21 of 38
Example (Pty) Ltd
Account Set-up 2/28/2017 2/28/2017
28 Feb 2017 28 Feb 2017 28 Feb 2018
Template: Opening Trial Balance: Account Trial Balance:
Account Number Description
Balance Opening Balances Movement Closing Balances
BS-100 Fixed Assets 9,445.00 9,445.00 11,403.51 20,848.51
BS-150 Accumulated Depreciation - - (5,730.00) (5,730.00)
BS-200 Investments 6,000.00 6,000.00 3,750.00 9,750.00
BS-300 Cash - Other - - - -
BS-399 Cash Transfer Control - - - -
BS-400 Debtors - Other - - - -
BS-500 Creditors - Other - - (600.00) (600.00)
BS-600 Sales Tax Control (1,160.00) (1,160.00) (2,003.37) (3,163.37)
BS-700 Long Term Liabilities (15,200.00) (15,200.00) (2,360.00) (17,560.00)
BS-800 Share Capital (100.00) (100.00) - (100.00)
BS-900 Reserves - - - -
IS-100 Income from Services - (359,294.74) (359,294.74)
IS-200 Other Income - (20,192.98) (20,192.98)
IS-305 Accounting Fees - On
10,526.28 10,526.28
On this
this sheet:
sheet:
IS-310 Advertising & Marketing The
The opening
opening balance
balance sheet
sheet balances
balances as as -at
at the
the template -
template start
start date
date should
should be be-entered
entered on
on this
this ss
IS-315 Bank Charges that
that the
the Bank,
Bank, Trade
Trade Debtors
Debtors and and Trade
Trade-Creditors
Creditors opening
1,184.24 balances
opening balances are calculated
calculated and
1,184.24
are and there
there
IS-320 Commission to
to be
be included
included on on the
the Income
Income and and Expenses
Expenses
- sheets. The
The default
sheets.6,532.45 default list
list of accounts
accounts can
of6,532.45 can be
be custo
custo
IS-325 Computer Expenses adding
adding newnew accounts
accounts to to the
the list,
list, changing
changing- the
the descriptions
965.79 of
descriptions of existing
existing accounts
accounts
965.79 and
and deleting
deleting
IS-330 Consumables & Cleaning A
A detailed
detailed trial
trial balance
balance is is also
also included
included on-on this
this sheet
sheet and
and-can
can be
be compiled
compiled for - any
for any month
month end
end
IS-335 Entertainment
changing
changing the the report
report start
start date
date onon the
the Set-up
Set-up
-
sheet
sheet and
and selecting
selecting
-
aa month
month end end period from the
- period from the
cell
cell G3.
G3.
IS-340 Insurance - 3,579.00 3,579.00
IS-345 Office Expenses - 1,004.40 1,004.40
IS-350 Office Rent - 67,368.48 67,368.48
IS-355 Postage - - -
IS-360 Professional & Legal Fees - 10,964.91 10,964.91
IS-365 Salaries & Wages - 233,000.00 233,000.00
IS-370 Stationery - 2,513.15 2,513.15
IS-375 Subscriptions & Memberships - 2,878.95 2,878.95
IS-380 Telephone & Internet - 1,884.24 1,884.24
IS-385 Training - 777.83 777.83
IS-390 Travelling & Accommodation - 5,008.77 5,008.77
IS-395 Utilities - 4,929.82 4,929.82
IS-400 Depreciation - 5,730.00 5,730.00
IS-500 Interest Paid - 1,200.00 1,200.00
IS-600 Taxation - 6,300.00 6,300.00
IS-700 Other Expenses - - -
ZZZ Add accounts above this row
Control Accounts
BS-BANKB1 B1 Bank Account 3,400.00 3,400.00 14,466.27 17,866.27
BS-BANKB2 B2 Bank Account 900.00 900.00 1,580.00 2,480.00
BS-BANKB3 B3 Bank Account 100.00 100.00 - 100.00
BS-PCASHPC Petty Cash 200.00 200.00 1.00 201.00
BS-DEBTORS Trade Debtors 23,000.00 23,000.00 (11,000.00) 12,000.00
BS-CREDITORS Trade Creditors (5,100.00) (5,100.00) 3,632.00 (1,468.00)
BS-RETAINED Retained Earnings (21,485.00) (21,485.00) - (21,485.00)
- - - -
Page 22 of 38
Example (Pty) Ltd
Customer Set-up
Billing Address
Code Billing Name Line 1 Line 2 Line 3 Line 4 Line 5 Tax Number
ABC01 ABC Limited 22 Long Street Orange County Los Angeles United States 15120 N/A
CCS01 CC Supplies 105 Newmarket Street City Bowl Cape Town 7200 499 888 2000
DFM01 DF Manufacturing DF House 110 Mandela Avenue Westville Durban 3200 452 765 2303
DIG01 Digicom 52 Adderley Cresent Rivionia Johannesburg 1000 452 079 2090
ECE01 EC Estate Agents 20 Cross Street Gardens Cape Town 7005 N/A
ENE01 Energy Incorporated 39 Bay Avenue Waverley Bloemfontein 9300 402 899 3000
FSF01 FS Financial Services 55A Broad Street Umhlanga Durban 3250 423 090 3400
GPA01 GP Accountants 30 Chancery Lane Camps Bay On this sheet: Cape Town 7002 451 678 5230
On this sheet:
ITS01 IT Solutions 112Create customer
Elizabeth
Create Avenue
customer codes for
for all
codesNotting customers
customers and
Hill
all and enter the
London
enter the billing
billing details
details for
for each
United
each Kingdom EC5 3PW N/A
KZB01 KZN Bonds customer
10 in
in the
Delhi Cresent
customer the other
other columns on
on this
City Center
columns this sheet.
sheet. The
The customer
East Londoncodes
customer codes that
that are
are created
created 4200 432 000 7650
PTY01 PTY Consultants PTYon
on this
this sheet
Place sheet areare included
included in
in aa list
24 Tobago list box
box in
Street in the
the Customer
Fourwayscolumn
Customer column onon the
the Income
Income
Johannesburg 1008 465 000 8970
SAB01 SA Bonds sheet
sheet and
90 Melbourneand the
Roadthe customer
customer information
information is
Centurion is also
also automatically
automatically
Pretoria included
included on
on the
the tax
tax 2005 N/A
TPS01 The Paint Shop invoice.
invoice.
115 We
We recommend
Main Street recommend using using
Houtbay an
an abbreviated
abbreviated versionCapeof
version of the
Townthe customer
customer name
name as as the
the 7100 432 998 7273
customer
customer code.
code.
TRF01 TRF Solutions 290 York Cresent Northcliff Johannesburg 1020 463 556 2880
WCA01 WC Financial Advisors 15 Strand Street Walmer Port Elizabeth 4320 412 998 0020
WWR01 WW Retail 22 Upper Boulevard Fourways Johannesburg 1080 N/A
VXB01 VX Building Supplies 80 Ocean Avenue Constantia Cape Town 7500 499 662 1200
WYS01 WY Services 113 Market Avenue Sandton Johannesburg 1005 423 996 0020
XXX01 General Customer Code 9999 N/A
XXX99 None 9999 N/A
ZZZ Add customers above this row
Page 23 of 38
Example (Pty) Ltd
Income & Other Receipts
462,920.00 409,263.15 53,656.85 462,920.00
Invoice Tax Inclusive Bank Statement Exclusive Inclusive Error
Number Invoice Date Customer Description Amount Tax Code Code Account Payment Date Date Amount Tax Amount Amount Code
INV0051 1/23/2017 DFM01 Consulting Services 8,000.00 A B1 IS-100 3/1/2017 3/1/2017 7,017.54 982.46 8,000.00
INV0052 2/18/2017 CCS01 Consulting Services 15,000.00 A B1 IS-100 3/10/2017 3/10/2017 13,157.89 1,842.11 15,000.00
O/B 2/28/2017 XXX99 Opening Bank Balance 3,400.00 E B1 BS-300 2/28/2017 2/28/2017 3,400.00 - 3,400.00
O/B 2/28/2017 XXX99 Opening Bank Balance 900.00 E B2 BS-300 2/28/2017 2/28/2017 900.00 - 900.00
O/B 2/28/2017 XXX99 Opening Bank Balance 100.00 E B3 BS-300 2/28/2017 2/28/2017 100.00 - 100.00
O/B 2/28/2017 XXX99 Opening Bank Balance 200.00 E PC BS-300 2/28/2017 2/28/2017 200.00 - 200.00
INV0053 3/14/2017 ITS01 Consulting Services 11,200.00 E B1 IS-100 4/13/2017 4/13/2017 11,200.00 - 11,200.00
INV0054 3/19/2017 KZB01 Consulting Services 10,200.00 A B1 IS-100 4/10/2017 4/10/2017 8,947.37 1,252.63 10,200.00
INV0055 4/9/2017 WCA01 Consulting Services 17,000.00
On
Onthis sheet:A
this sheet: B1 IS-100 5/9/2017 5/9/2017 14,912.28 2,087.72 17,000.00
Receipt23 Record
Record all
all income
4/10/2017 KZB01 and
income and cash
cash receipts
receipts in
Commission in the
the columns with
with aa yellow
columns 4,300.00 yellowA column
column B1 heading on
on this
heading IS-200 this sheet. The
The columns
sheet.4/10/2017 columns with
with aa
4/10/2017 3,771.93 528.07 4,300.00
INV0056 light
light blue
blue column
4/22/2017 column
DFM01heading contain
headingConsulting formulas
formulas that
containServices that should
should be
be copied
17,420.00 copiedA for
for all new
allB1new transactions
IS-100 that
transactions that are
are entered.
entered. Sales
5/9/2017 Sales tax
tax
5/9/2017 15,280.70 2,139.30 17,420.00
INV0057
is
is calculated
calculated
5/5/2017
based
based on the sales
sales tax
GPA01 on theAccounting
code
code that
taxServices that is
is selected
selected in
in column
3,000.00 column F andB1the
A F and the sales tax
tax percentage
salesIS-100 percentage that
that is
5/10/2017 is specified
specified on
5/10/2017on 2,631.58 368.42 3,000.00
the Set-up
Set-up sheet.
the5/7/2017 sheet. All
All income
income transactions
transactions are
are included
included in
in Trade
Trade Debtors
Debtors and
and Income
Income based
based on
on the
the invoice
invoice date
date that is
INV0058 ENE01 Taxation Services 8,230.00 A B1 IS-100 6/6/2017 6/6/2017is
that 7,219.30 1,010.70 8,230.00
entered
entered in in column
column B. B. When
When thethe invoice
invoice amount
amount is is paid
paid byby thethe customer,
customer, simply
simply enter
enter the
the payment
payment date date inin the
the Payment
Payment
INV0059 5/10/2017 ENE01
Date Consulting Services 22,800.00 from A B1 IS-100 6/9/2017 6/9/2017 20,000.00 2,800.00 22,800.00
Date column
column and and the
the transaction
transaction is is automatically
automatically removed
removed from Trade Trade Debtors
Debtors and
and included
included in in the
the bank
bank account
account
INV0060 5/31/2017
balance. CCS01 Consulting Services 19,050.00 A B1 IS-100 6/30/2017 6/30/2017 16,710.53 2,339.47 19,050.00
balance. All All outstanding
outstanding invoices
invoices can can therefore
therefore be be identified
identified by by aa blank
blank cell
cell in
in the
the Payment
Payment Date Date column.
column. The The date
date on
on
CN00017 which
which the
6/26/2017 transaction
TRF01
the transaction is
is reflected
Discountreflected onon the
the bank
bank statement
statement should
(4,200.00) A
should be
beB1entered
entered in the
the Statement
inIS-100Statement Date
Date column.
7/18/2017 7/18/2017
column. (3,684.21) (515.79) (4,200.00)
INV0061 6/26/2017 DFM01 Consulting Services 34,000.00 A B1 IS-100 7/26/2017 7/26/2017 29,824.56 4,175.44 34,000.00
INV0062 6/29/2017 WCA01 Consulting Services 12,540.00 A B1 IS-100 7/16/2017 7/16/2017 11,000.00 1,540.00 12,540.00
INV0063 7/11/2017 PTY01 Consulting Services 18,000.00 A B1 IS-100 7/16/2017 7/16/2017 15,789.47 2,210.53 18,000.00
INV0064 7/22/2017 WWR01 Consulting Services 15,200.00 A B1 IS-100 8/21/2017 8/21/2017 13,333.33 1,866.67 15,200.00
INV0065 8/13/2017 ECE01 Consulting Services 14,000.00 A B1 IS-100 9/12/2017 9/12/2017 12,280.70 1,719.30 14,000.00
INV0066 8/17/2017 TPS01 Consulting Services 12,970.00 A B1 IS-100 9/16/2017 9/16/2017 11,377.19 1,592.81 12,970.00
CN00018 9/5/2017 ITS01 Discount (3,100.00) E B1 IS-100 9/27/2017 9/27/2017 (3,100.00) - (3,100.00)
INV0067 9/12/2017 ENE01 Consulting Services 28,000.00 A B1 IS-100 9/30/2017 9/30/2017 24,561.40 3,438.60 28,000.00
INV0068 9/17/2017 TRF01 Consulting Services 13,200.00 A B1 IS-100 10/4/2017 10/4/2017 11,578.95 1,621.05 13,200.00
INV0069 10/8/2017 ECE01 Taxation Services 2,230.00 A B1 IS-100 10/13/2017 10/13/2017 1,956.14 273.86 2,230.00
INV0070 10/8/2017 GPA01 Consulting Services 28,800.00 A B1 IS-100 10/13/2017 10/13/2017 25,263.16 3,536.84 28,800.00
INV0071 10/31/2017 TPS01 Consulting Services 25,500.00 A B1 IS-100 11/30/2017 11/30/2017 22,368.42 3,131.58 25,500.00
INV0072 11/3/2017 PTY01 Consulting Services 3,120.00 A B1 IS-100 12/3/2017 12/3/2017 2,736.84 383.16 3,120.00
INV0073 11/29/2017 CCS01 Consulting Services 13,200.00 A B1 IS-100 12/21/2017 12/21/2017 11,578.95 1,621.05 13,200.00
INV0074 11/29/2017 VXB01 Consulting Services 15,400.00 A B1 IS-100 12/29/2017 12/29/2017 13,508.77 1,891.23 15,400.00
Receipt24 12/10/2017 KZB01 Commission 18,720.00 A B1 IS-200 12/10/2017 12/10/2017 16,421.05 2,298.95 18,720.00
INV0075 12/25/2017 ITS01 Consulting Services 8,300.00 E B1 IS-100 1/31/2018 2/1/2018 8,300.00 - 8,300.00
Receipt25 12/25/2017 ABC01 Loan Deposit 3,000.00 E B1 BS-700 12/30/2017 12/30/2017 3,000.00 - 3,000.00
INV0076 1/19/2018 PTY01 Accounting Services 14,440.00 A B1 IS-100 1/31/2018 1/31/2018 12,666.67 1,773.33 14,440.00
INV0076 1/19/2018 PTY01 Taxation Services 5,200.00 A B1 IS-100 1/31/2018 1/31/2018 4,561.40 638.60 5,200.00
INV0076 1/19/2018 PTY01 Consulting Services 6,100.00 A B1 IS-100 1/31/2018 1/31/2018 5,350.88 749.12 6,100.00
Page 24 of 38
Example (Pty) Ltd
Income & Other Receipts
462,920.00 409,263.15 53,656.85 462,920.00
Invoice Tax Inclusive Bank Statement Exclusive Inclusive Error
Number Invoice Date Customer Description Amount Tax Code Code Account Payment Date Date Amount Tax Amount Amount Code
INV0077 1/20/2018 GPA01 Taxation Services 3,400.00 A B1 IS-100 2/28/2018 3/1/2018 2,982.46 417.54 3,400.00
Receipt26 2/5/2018 ABC01 Loan Deposit 2,000.00 E B1 BS-700 2/5/2018 2/5/2018 2,000.00 - 2,000.00
INV0078 2/15/2018 WCA01 Consulting Services 20,100.00 A B1 IS-100 2/28/2018 2/28/2018 17,631.58 2,468.42 20,100.00
INV0079 2/28/2018 VXB01 Consulting Services 12,000.00 A B1 IS-100 10,526.32 1,473.68 12,000.00
Page 25 of 38
Insert
Insert business
business logo
logo in
in this
this section...
section...
Tax Invoice
Example (Pty) Ltd
Building Name Invoice Number INV0076
Street Address Invoice Date 1/19/2018
Suburb
Town Invoiced To:
9999 PTY Consultants
Telephone: +27 21 999 9999 PTY Place
Fax: +27 21 999 0000 24 Tobago Street
E-mail: info@example.com Fourways
Website: www.example.com Johannesburg
Tax No.: 9999 999 9999 1008
Reg No.: 2011 000000 00 Customer Tax No: 465 000 8970
Description Amount Tax Total
Accounting Services 12,666.67 1,773.33 14,440.00

Taxation Services 4,561.40 638.60 5,200.00
Consulting Services 5,350.88 749.12 6,100.00
Total 22,578.95 3,161.05 25,740.00
Banking Details:
Bank: Example Bank
Account Type: Current Account
Bank Code: 999-999
Account Number: 1111 999 888
Example (Pty) Ltd
Expenses & Other Payments
431,740.73 412,785.50 18,955.23 431,740.73
Document Tax Inclusive Bank Statement Exclusive Inclusive Error
Date Supplier Reference Description Amount Tax Code Code Account Payment Date Date Amount Tax Amount Amount Code
2/14/2017 XY Solutions S77782 Opening Balance 5,100.00 A B1 BS-500 3/2/2017 3/2/2017 4,473.68 626.32 5,100.00
3/1/2017 IS Communications Invoice EXP22 Internet Service Provider 179.00 A B1 IS-380 3/31/2017 3/31/2017 157.02 21.98 179.00
3/2/2017 Newscorp I381119 Subscriptions 478.00 A B1 IS-375 4/1/2017 4/1/2017 419.30 58.70 478.00
3/5/2017 EAG Brokers Debit Order Insurance 340.00 A B1 IS-340 3/5/2017 3/5/2017 298.25 41.75 340.00
3/15/2017 Capital Bank Bank Statement Service Fees 50.00 A B1 IS-315 3/15/2017 3/15/2017 43.86 6.14 50.00
3/15/2017 IAS Accountants Invoice Bookkeeping 1,000.00 A B1 IS-305 4/2/2017 4/2/2017 877.19 122.81 1,000.00
3/15/2017 Interflora Cash Flowers 90.00 A PC IS-345 3/15/2017 3/15/2017 78.95 11.05 90.00
On
On this
this sheet:
sheet:
3/18/2017 QQ International TR6998 Parking 200.00 A B1 IS-390 3/18/2017 3/18/2017 175.44 24.56 200.00
Record
Record allall expenses
expenses and
and cash
cash payments
payments in in the
the columns
columns with
with aa yellow
yellow column
column heading
heading onon this
this sheet.
sheet. The
The columns
columns
3/20/2017 Example
with a(Pty) Ltdblue column
light Transferheading contain
Inter Account Transfer
formulas that should be (15,000.00)
copied for E B2 BS-399
all new transactions that are3/20/2017
entered. 3/20/2017 (15,000.00) - (15,000.00)
with a light blue column heading contain formulas that should be copied for all new transactions that are entered.
3/20/2017 Example
Sales (Pty)
Sales tax
tax isLtd
is Transfer
calculated
calculated based
based on theInter
on the Account
sales
sales tax Transfer
tax code
code that
that is
is selected15,000.00
selected in columnEFF and
in column and the B1 sales
the BS-399
sales tax 3/20/2017
tax percentage
percentage that
that is is 3/20/2017 15,000.00 - 15,000.00
3/26/2017 specified
Example (Pty)on
specified Ltdthe
on the Set-up
Payrollsheet.
Set-up sheet. All
All expense
Salaries transactions
expense transactions are are included in
in Trade
13,000.00
included Trade ECreditors
Creditors B2and
and Expenses
IS-365
Expenses based on
on the
3/26/2017
based the 3/26/2017 13,000.00 - 13,000.00
3/26/2017 document
document date
HP Finance date that
Debitis
that entered
entered in
isOrder column
in Capital
column A.
A. When
When the
repayment the expense
expense amount220.00 is
amount is paid
E to
paid to theB1supplier,
the supplier, simply
simply enter
BS-700 enter the
the
3/26/2017 3/26/2017 220.00 - 220.00
3/26/2017 HPpayment
Finance date
payment date in
in the
the Payment
Order Date
Payment
Debit Date column
column
Interest and
and the
paid the transaction
transaction is is automatically
automatically
100.00 E removed
removedB1 from Trade
Trade Creditors
fromIS-500 Creditors
3/26/2017and
and 3/26/2017 100.00 - 100.00
3/26/2017 deducted
PR Properties from
deducted from the bank
the Debit
bankOrderaccount
account balance.
balance.
Rent All
All outstanding
outstanding invoices
invoices can
can therefore
6,400.00 therefore
A be
be identified
identified
B1 by
by aa blank
IS-350 blank cell
cell in
in the
3/26/2017 the 3/26/2017 5,614.04 785.96 6,400.00
3/31/2017
Payment
Payment
Example
Date
Date
(Pty)
column.
Ltd column.
The
BankThe
date
date on
Statement on which
which the transaction
transaction is
theReimbursement
Petty Cash is reflected
reflected on
on the
100.00 the bank
bank
E
statement
statement
B1
should
should be entered
BS-399be entered
in
3/31/2017in the
the 3/31/2017 100.00 - 100.00
Statement
Statement DateDate column.
column.
3/31/2017 Example (Pty) Ltd Bank Statement Petty Cash Reimbursement (100.00) E PC BS-399 3/31/2017 3/31/2017 (100.00) - (100.00)
4/20/2017 Example (Pty) Ltd Transfer Inter Account Transfer (20,000.00) E B2 BS-399 4/20/2017 4/20/2017 (20,000.00) - (20,000.00)
4/20/2017 Example (Pty) Ltd Transfer Inter Account Transfer 20,000.00 E B1 BS-399 4/20/2017 4/20/2017 20,000.00 - 20,000.00
4/25/2017 Inland Revenue Return Sales Tax 1,300.00 E B1 BS-600 4/25/2017 4/25/2017 1,300.00 - 1,300.00
4/26/2017 Example (Pty) Ltd Payroll Salaries 20,000.00 E B2 IS-365 4/26/2017 4/26/2017 20,000.00 - 20,000.00
4/26/2017 Furniture City Invoice Furniture 3,000.00 A B1 BS-100 5/26/2017 5/26/2017 2,631.58 368.42 3,000.00
4/26/2017 HP Finance Debit Order Capital repayment 220.00 E B1 BS-700 4/26/2017 4/26/2017 220.00 - 220.00
4/26/2017 HP Finance Debit Order Interest paid 100.00 E B1 IS-500 4/26/2017 4/26/2017 100.00 - 100.00
4/26/2017 PR Properties Debit Order Rent 6,400.00 A B1 IS-350 4/26/2017 4/26/2017 5,614.04 785.96 6,400.00
4/29/2017 GF Supplies IN1179 Consumables 41.00 A PC IS-325 5/29/2017 5/29/2017 35.96 5.04 41.00
4/30/2017 Example (Pty) Ltd Bank Statement Petty Cash Reimbursement 100.00 E B1 BS-399 4/30/2017 4/30/2017 100.00 - 100.00
5/1/2017 Training Inc Invoice Course 220.00 A B1 IS-385 5/31/2017 5/31/2017 192.98 27.02 220.00
5/7/2017 City Lodge S50037 Accommodation 563.00 A B1 IS-390 5/7/2017 5/7/2017 493.86 69.14 563.00
5/7/2017 Waltons Invoice Stationery 982.00 A B1 IS-370 6/6/2017 6/6/2017 861.40 120.60 982.00
Page 27 of 38
Example (Pty) Ltd
431,740.73 412,785.50 18,955.23 431,740.73
6/26/2017 SA Airlines SA11235 Travel 1,782.00 A B1 IS-390 6/26/2017 6/26/2017 1,563.16 218.84 1,782.00
7/17/2017 GF Supplies IN1181 Consumables 937.00 A B1 IS-325 8/16/2017 8/16/2017 821.93 115.07 937.00
7/25/2017 ACC Institute M00321037 Annual Membership 2,000.00 A B1 IS-375 8/24/2017 8/24/2017 1,754.39 245.61 2,000.00
Page 28 of 38
Example (Pty) Ltd
431,740.73 412,785.50 18,955.23 431,740.73
8/13/2017 XY Traders Invoice 9987 Commission 747.00 A B1 IS-320 9/12/2017 9/12/2017 655.26 91.74 747.00
8/21/2017 JSE Brokers Remittance Share investment 3,750.00 E B1 BS-200 8/21/2017 8/21/2017 3,750.00 - 3,750.00
8/31/2017 Inland Revenue Return Provisional Tax 2,600.00 E B1 IS-600 8/31/2017 8/31/2017 2,600.00 - 2,600.00
9/13/2017 Training Inc Invoice Course 277.48 A B1 IS-385 10/13/2017 10/13/2017 243.40 34.08 277.48
9/18/2017 Municipality Statement Rates 5,620.00 A B1 IS-395 9/18/2017 9/18/2017 4,929.82 690.18 5,620.00
9/18/2017 QA Attorneys Invoice Legal advice 12,500.00 A B1 IS-360 9/18/2017 9/18/2017 10,964.91 1,535.09 12,500.00
9/24/2017 XY Traders Invoice11203 Commission 4,242.00 A B1 IS-320 10/24/2017 10/24/2017 3,721.05 520.95 4,242.00
Page 29 of 38
Example (Pty) Ltd
431,740.73 412,785.50 18,955.23 431,740.73
12/17/2017 Newscorp M00353051 Subscriptions 120.00 A B1 IS-375 1/16/2018 1/16/2018 105.26 14.74 120.00
Page 30 of 38
Example (Pty) Ltd
431,740.73 412,785.50 18,955.23 431,740.73
1/26/2018 Training Inc Invoice Training 389.25 A B1 IS-385 1/31/2018 2/1/2018 341.45 47.80 389.25
2/1/2018 IS Communications Invoice EXP33 Internet Service Provider 179.00 A B1 IS-380 157.02 21.98 179.00
2/11/2018 Waltons Invoice Stationery 289.00 A B1 IS-370 253.51 35.49 289.00
2/15/2018 IAS Accountants Invoice Bookkeeping 1,000.00 A B1 IS-305 877.19 122.81 1,000.00
2/26/2018 DF Equipment Invoice Office equipment 10,000.00 A B1 BS-100 2/28/2018 3/1/2018 8,771.93 1,228.07 10,000.00
Page 31 of 38
Example (Pty) Ltd
431,740.73 412,785.50 18,955.23 431,740.73
2/28/2018 Inland Revenue Return Provisional Tax 3,700.00 E B1 IS-600 2/28/2018 2/28/2018 3,700.00 - 3,700.00
Page 32 of 38
Example (Pty) Ltd Positive Amount = Debit Entry = Increase Expense / Asset, Decrease Income / Liability
Non-Cash Journal Entries Negative Amount = Credit Entry = Decrease Expense / Asset, Increase Income / Liability
- ok
Document Transaction Error
Date Reference Description Account Amount Code
2/28/2018 Journal Depreciation IS-400 4,200.00
2/28/2018 Journal Depreciation IS-400 1,530.00
2/28/2018 Journal Accumulated Depreciation BS-150 (4,200.00)
2/28/2018 Journal Accumulated Depreciation BS-150 (1,530.00)
2/28/2018 Accrual Accrual - March Expenses BS-500 (600.00)
2/28/2018 Accrual Accrual - March Expenses IS-375 600.00
On
On this
this sheet:
sheet:
Record
Record all
all non-cash
non-cash transactions
transactions in in the
the columns
columns with
with aa yellow
yellow column
column heading
heading on on this
this
sheet.
sheet. All
All transactions
transactions should
should be
be entered
entered in in aa general
general ledger
ledger journal
journal format
format –– you
you therefore
therefore
have
have to
to enter
enter both
both the
the debit
debit and
and the
the credit
credit entries
entries on
on this
this sheet
sheet and
and the
the total
total of
of all
all the
the
amounts
amounts in in column
column EE should
should always
always bebe nil.
nil. Cell
Cell F3
F3 contains
contains conditional
conditional formatting
formatting that
that will
will
display
display an
an error
error message
message ifif the
the sum
sum ofof the
the journal
journal entries
entries onon this
this sheet
sheet does
does not
not equal
equal nil.
nil.
Page 33 of 38
Example (Pty) Ltd
Bank Reconciliation
Bank Code B1
Reconciliation Date 2/28/2018
Opening Balances
Calculated Bank Statement Balance 29,079.52
On
On this
thissheet:
sheet:
Outstanding Items: This
This sheet
sheet contains
contains aa bank
bank reconciliation
reconciliation that
that is
is automatically
automatically compiled
compiled
Withdrawals (389.25) based
based onon the
the payment
payment dates
dates and
and statement
statement dates
dates that
that are
are entered
entered onon the
the
Deposits 8,300.00 Income
Income and Expenses sheets. The only user input that is required is
and Expenses sheets. The only user input that is required is
Cashbook Balance 36,990.27 selecting
selecting a bank code in cell B4, entering the reconciliation date in cell B6
a bank code in cell B4, entering the reconciliation date in cell B6
and
and entering
entering the
the actual
actual bank
bank statement
statement balance
balance inin cell
cell B26.
B26. You
You can
can therefore
therefore
Current Month Transactions view a bank reconciliation for any date by simply entering the
view a bank reconciliation for any date by simply entering the appropriateappropriate
Withdrawals (44,624.00)
date
date in
in cell
cell B6.
B6.
Deposits 25,500.00
Closing Balances
Cashbook Balance 17,866.27
Outstanding Items:
Withdrawals (10,000.00)
Deposits 3,400.00
Calculated Bank Statement Balance 24,466.27
Actual Bank Statement Balance 24,466.27
Unreconciled Difference - ok
Page 34 of 38
Example (Pty) Ltd
Report ID Description Mar-2017 Apr-2017 May-2017 Jun-2017 Jul-2017 Aug-2017 Sep-2017 Oct-2017 Nov-2017 Dec-2017 Jan-2018 Feb-2018
IS-100 Income from Services 20,147.37 30,192.98 46,561.41 37,140.35 29,122.80 23,657.89 33,040.35 49,587.72 27,824.56 8,300.00 25,561.41 28,157.90
IS-200 Other Income - 3,771.93 - - - - - - - 16,421.05 - -
Total Income 20,147.37 33,964.91 46,561.41 37,140.35 29,122.80 23,657.89 33,040.35 49,587.72 27,824.56 24,721.05 25,561.41 28,157.90
Expenses
IS-305 Accounting Fees 877.19 877.19 877.19 877.19 877.19 877.19 877.19 877.19 877.19 877.19 877.19 877.19
IS-310 Advertising & Marketing - - - - - - - - - - - -
IS-315 Bank Charges 74.56 100.88 100.88 100.88 100.88 100.88 100.88 100.88 100.88 100.88 100.88 100.88
On
On this
this sheet:
sheet:
IS-320 Commission - - - - - 655.26 3,721.05 - 861.40 843.86 450.88 -
This
This monthly
monthly income
income statement
statement and
and cash
cash flow
flow report
report is
is automatically
automatically compiled
compiled basedbased on
on the
the
IS-325 Computer Expenses -
transactions that 35.96entered on the- Income, Expenses - 821.93 - user input is- 54.39 - 53.51 - -
transactions that are
are entered on the Income, Expenses and
and NonCash
NonCash sheets.
sheets. NoNo user input is
IS-330 Consumables & Cleaning required - on this -
sheet. The monthly -reporting -
periods are -
determined based
required on this sheet. The monthly reporting periods are determined based on the report start on- the report -
start - - - - -
IS-335 Entertainment date
date that
- is
that is specified
specified- on
on the
the Set-up
Set-up-sheet
sheet and
and includes
-
includes 12
12 monthly
monthly- periods.
periods. You - can
You can therefore
therefore - - - - - -
IS-340 Insurance change
change the
298.25the reporting
reporting periods
periods by
298.25 simply
simply changing
by298.25 changing the
the date
298.25 date in
in a298.25
a single
single cell.
cell. Note
Note that
that you
298.25 you can
can add
add
298.25 298.25 298.25 298.25 298.25 298.25
IS-345 Office Expenses additional
additional
78.95 expense
expense accounts
accounts by
76.32 by creating
creating the
57.02 the accounts
accounts
96.49 on
on the
the Accounts
Accounts sheet,
25.44 68.42inserting
sheet, inserting the
the
78.95 191.23 89.47 84.21 92.11 65.79
IS-350 Office Rent account
5,614.04 number
account number on
on this
this sheet
5,614.04 and
and copying
sheet5,614.04copying the
the formulas
formulas in
5,614.04 the
the other
other columns
in5,614.04 columns from
from one
5,614.04 of
of the
one5,614.04
the 5,614.04 5,614.04 5,614.04 5,614.04 5,614.04
IS-355 Postage - -
existing
existing- rows
rows in
in the
the Expenses
Expenses
-
section.
section.
- - - - - - - -
IS-360 Professional & Legal Fees - - - - - - 10,964.91 - - - - -
IS-365 Salaries & Wages 13,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00
IS-370 Stationery - - 861.40 - 667.54 205.26 - 253.51 - 271.93 - 253.51
IS-375 Subscriptions & Memberships 419.30 - - - 1,754.39 - - - - 105.26 - 600.00
IS-380 Telephone & Internet 157.02 157.02 157.02 157.02 157.02 157.02 157.02 157.02 157.02 157.02 157.02 157.02
IS-385 Training - - 192.98 - - - 243.40 - - - 341.45 -
IS-390 Travelling & Accommodation 175.44 - 493.86 1,563.16 - 1,121.05 - 1,655.26 - - - -
IS-395 Utilities - - - - - - 4,929.82 - - - - -
Total Expenses 20,694.75 27,159.66 28,652.64 28,707.03 30,316.68 29,097.37 46,985.51 29,201.77 27,998.25 28,406.15 27,931.82 27,966.68
IS-400 Depreciation - - - - - - - - - - - 5,730.00

IS-500 Interest Paid 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
IS-600 Taxation - - - - - 2,600.00 - - - - - 3,700.00
IS-700 Other Expenses - - - - - - - - - - - -
Net Profit (647.38) 6,705.25 17,808.77 8,333.32 (1,293.88) (8,139.48) (14,045.16) 20,285.95 (273.69) (3,785.10) (2,470.41) (9,338.78)
Page 35 of 38
Example (Pty) Ltd
Report ID Description Mar-2017 Apr-2017 May-2017 Jun-2017 Jul-2017 Aug-2017 Sep-2017 Oct-2017 Nov-2017 Dec-2017 Jan-2018 Feb-2018
Non-Cash Adjustments:
BS-150 Depreciation - - - - - - - - - - - 5,730.00
BS-900 Movement in Reserves - - - - - - - - - - - -
Working Capital Changes

BS-300 Other Cash Balances (10.00) (13.00) 6.00 10.00 (21.00) 28.00 (10.00) 18.00 (6.00) (4.00) (4.00) 5.00
BS-400 Debtors 1,600.00 (13,020.00) (15,660.00) 7,740.00 27,140.00 (11,770.00) 13,770.00 (12,300.00) (6,220.00) 23,420.00 4,900.00 (8,600.00)
BS-500 Creditors (3,622.00) 2,742.00 (2,238.00) (803.00) 3,519.00 (2,717.00) 3,717.48 (4,347.48) 810.00 292.00 (939.00) 554.00
BS-600 Sales Tax Control 175.38 2,084.33 5,307.23 (4,719.32) 2,632.88 (4,561.52) 1,281.68 2,354.05 2,775.69 (7,277.90) 2,468.16 (517.29)
(1,856.62) (8,206.67) (12,584.77) 2,227.68 33,270.88 (19,020.52) 18,759.16 (14,275.43) (2,640.31) 16,430.10 6,425.16 (8,558.29)
Cash Flow from Operations (2,504.00) (1,501.42) 5,224.00 10,561.00 31,977.00 (27,160.00) 4,714.00 6,010.52 (2,914.00) 12,645.00 3,954.75 (12,167.07)
Cash Flow from Investing Activities

BS-100 Property, Plant & Equipment Acquisitions - (2,631.58) - - - - - - - - - (8,771.93)
BS-200 Investments Acquired - - - - - (3,750.00) - - - - - -
- (2,631.58) - - - (3,750.00) - - - - - (8,771.93)
Cash Flow from Financing Activities
BS-700 Long Term Liabilities (220.00) (220.00) (220.00) (220.00) (220.00) (220.00) (220.00) (220.00) (220.00) 2,780.00 (220.00) 1,780.00
BS-800 Share Capital - - - - - - - - - - - -
(220.00) (220.00) (220.00) (220.00) (220.00) (220.00) (220.00) (220.00) (220.00) 2,780.00 (220.00) 1,780.00
Net Cash Movement (2,724.00) (4,353.00) 5,004.00 10,341.00 31,757.00 (31,130.00) 4,494.00 5,790.52 (3,134.00) 15,425.00 3,734.75 (19,159.00)
Cash at beginning of period 4,400.00 1,676.00 (2,677.00) 2,327.00 12,668.00 44,425.00 13,295.00 17,789.00 23,579.52 20,445.52 35,870.52 39,605.27
Cash at end of period 1,676.00 (2,677.00) 2,327.00 12,668.00 44,425.00 13,295.00 17,789.00 23,579.52 20,445.52 35,870.52 39,605.27 20,446.27
Page 36 of 38
Example (Pty) Ltd Month: February
Annual Cash Flow Report 2/1/2018 2/1/2017
Annual Year To Date Monthly
Report ID Description Feb-2018 Feb-2017 Feb-2018 Feb-2017 Feb-2018 Feb-2017
IS-100 Income from Services 359,294.74 20,175.43 359,294.74 20,175.43 28,157.90 13,157.89
IS-200 Other Income 20,192.98 - 20,192.98 - - -
Total Income 379,487.72 20,175.43 379,487.72 20,175.43 28,157.90 13,157.89
Expenses
IS-305 Accounting Fees 10,526.28 - 10,526.28 - 877.19 -
IS-310 Advertising & Marketing - - - - - -
IS-315 Bank Charges 1,184.24 - 1,184.24 - 100.88 -
IS-320 Commission 6,532.45 - On
On this sheet:
6,532.45
this sheet: - - -
IS-325 Computer Expenses This
This annual
annual income
income statement
965.79 statement -and
and cash
cash flow
flow report
965.79 is
report is automatically
- calculated
automatically calculated based
based- onon the
the -
IS-330 Consumables & Cleaning
transactions
transactions thatthat are entered on- the
- are entered on the Income,
Income, Expenses
Expenses
-
and
and NonCash
NonCash-
sheets.
sheets. No
No user
user-input
input isis -
therefore required
therefore required on this sheet.
on this sheet. The annual reporting
The annual reporting periods are determined based on
periods are- determined based- on the the
IS-335 Entertainment - - - -
report start date and year end date input cells on the Set-up sheet. The report
report start date and year end date input cells on the Set-up sheet. The report includes an includes an
IS-340 Insurance annual, 3,579.00 - 3,579.00 - 298.25 date -
annual, year
year to to date
date and
and monthly
monthly income
income statement
statement andand cash
cash flow
flow report.
report. The
The year
year to
to date
IS-345 Office Expenses and
and monthly1,004.40
monthly reports
reports can
can be -
be amended
amended by 1,004.40
by simply
simply selecting
selecting the -
the appropriate
appropriate month
month from65.79the
from the list
list -
IS-350 Office Rent box
box in
in cell
67,368.48 cell H1.
H1. Additional
- expense
Additional expense accounts
67,368.48 can
accounts can also
also be
be added
-
added on
on this
this sheet.
5,614.04
sheet. -
IS-355 Postage - - - - - -
IS-360 Professional & Legal Fees 10,964.91 - 10,964.91 - - -
IS-365 Salaries & Wages 233,000.00 - 233,000.00 - 20,000.00 -
IS-370 Stationery 2,513.15 - 2,513.15 - 253.51 -
IS-375 Subscriptions & Memberships 2,878.95 - 2,878.95 - 600.00 -
IS-380 Telephone & Internet 1,884.24 - 1,884.24 - 157.02 -
IS-385 Training 777.83 - 777.83 - - -
IS-390 Travelling & Accommodation 5,008.77 - 5,008.77 - - -
IS-395 Utilities 4,929.82 - 4,929.82 - - -
Total Expenses 353,118.31 - 353,118.31 - 27,966.68 -
IS-400 Depreciation 5,730.00 - 5,730.00 - 5,730.00 -

IS-500 Interest Paid 1,200.00 - 1,200.00 - 100.00 -
IS-600 Taxation 6,300.00 - 6,300.00 - 3,700.00 -
IS-700 Other Expenses - - - - - -
Net Profit 13,139.41 20,175.43 13,139.41 20,175.43 (9,338.78) 13,157.89
Non-Cash Adjustments:
BS-150 Depreciation 5,730.00 - 5,730.00 - 5,730.00 -
BS-900 Movement in Reserves - - - - - -
Working Capital Changes

BS-300 Other Cash Balances (1.00) 4,400.00 (1.00) 4,400.00 5.00 4,400.00
BS-400 Debtors 11,000.00 (23,000.00) 11,000.00 (23,000.00) (8,600.00) (15,000.00)
BS-500 Creditors (3,032.00) 626.32 (3,032.00) 626.32 554.00 626.32
BS-600 Sales Tax Control 2,003.37 2,198.25 2,003.37 2,198.25 (517.29) 1,215.79
9,970.37 (15,775.43) 9,970.37 (15,775.43) (8,558.29) (8,757.89)
Cash Flow from Operations 28,839.78 4,400.00 28,839.78 4,400.00 (12,167.07) 4,400.00
Cash Flow from Investing Activities

BS-100 Property, Plant & Equipment Acquisitions (11,403.51) - (11,403.51) - (8,771.93) -
BS-200 Investments Acquired (3,750.00) - (3,750.00) - - -
(15,153.51) - (15,153.51) - (8,771.93) -
Cash Flow from Financing Activities

BS-700 Long Term Liabilities 2,360.00 - 2,360.00 - 1,780.00 -
BS-800 Share Capital - - - - - -
2,360.00 - 2,360.00 - 1,780.00 -
Net Cash Movement 16,046.27 4,400.00 16,046.27 4,400.00 (19,159.00) 4,400.00
Cash at beginning of period 4,400.00 - 4,400.00 - 39,605.27 -
Cash at end of period 20,446.27 4,400.00 20,446.27 4,400.00 20,446.27 4,400.00
Page 37 of 38
Example (Pty) Ltd
Balance Sheet
Account Description Feb-2017 Mar-2017 Apr-2017 May-2017 Jun-2017 Jul-2017 Aug-2017 Sep-2017 Oct-2017 Nov-2017 Dec-2017 Jan-2018 Feb-2018
Assets
BS-100 Property, Plant & Equipment 9,445.00 9,445.00 12,076.58 12,076.58 12,076.58 12,076.58 12,076.58 12,076.58 12,076.58 12,076.58 12,076.58 12,076.58 15,118.51
BS-200 Investments 6,000.00 6,000.00 6,000.00 6,000.00 6,000.00 6,000.00 9,750.00 9,750.00 9,750.00 9,750.00 9,750.00 9,750.00 9,750.00
BS-DEBTORS Trade Debtors 23,000.00 21,400.00 34,420.00 50,080.00 42,340.00 15,200.00 26,970.00 13,200.00 25,500.00 31,720.00 8,300.00 3,400.00 12,000.00
BS-400 Other Debtors - - - - - - - - - - - - -
BS-BANK Bank 4,400.00 1,676.00 (2,677.00) 2,327.00 12,668.00 44,425.00 13,295.00 17,789.00 23,579.52 20,445.52 35,870.52 39,605.27 20,446.27
BS-PCASH Petty Cash 200.00 210.00 223.00 217.00 207.00 228.00 200.00 210.00 192.00 198.00 202.00 206.00 201.00
BS-300 Other Cash Accounts - - - - - - - - - - - - -
Total Assets 43,045.00 38,731.00 50,042.58
On this sheet: 70,700.58 73,291.58 77,929.58 62,291.58 53,025.58 71,098.10 74,190.10 66,199.10 65,037.85 57,515.78
On this sheet:
This
This monthly
monthly balance
balance sheet
sheet isis automatically
automatically calculated
calculated based
based on
on the
the transactions
transactions that
that
Equity & Liabilities are
are entered
entered onon the
the Income,
Income, Expenses
Expenses andand NonCash
NonCash sheets.
sheets. No
No user
user input
input is
is required
required onon
BS-800 Share Capital this
this sheet.
100.00 All
sheet. All transactions
100.00 are
transactions are allocated
100.00according
allocated to
to the
according100.00 the default
default balance
100.00 sheet
balance sheet report
report
100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
BS-RETAINED Retained Earnings - Previous Period categories.
categories.
21,485.00 The monthly
The monthly reporting
21,485.00 reporting periods
21,485.00 are determined
periods are determined
21,485.00 based
based on the report start
on the report21,485.00
21,485.00 start 21,485.00 21,485.00 21,485.00 21,485.00 21,485.00 21,485.00 21,485.00
BS-PROFIT Retained Earnings - Current Period -
date input6,057.87
(647.38)date input
cell
cell on
on the
the Set-up
Set-up sheet.
sheet.
23,866.64 32,199.96 30,906.08 22,766.60 8,721.44 29,007.39 28,733.70 24,948.60 22,478.19 13,139.41
BS-900 Reserves - - - - - - - - - - - - -
BS-700 Long Term Liabilities 15,200.00 14,980.00 14,760.00 14,540.00 14,320.00 14,100.00 13,880.00 13,660.00 13,440.00 13,220.00 16,000.00 15,780.00 17,560.00
BS-CREDITORS Trade Creditors 5,100.00 1,478.00 4,220.00 1,982.00 1,179.00 4,698.00 1,981.00 5,698.48 1,351.00 2,161.00 2,453.00 1,514.00 1,468.00
BS-500 Other Creditors - - - - - - - - - - - - 600.00
BS-600 Sales Tax Control 1,160.00 1,335.38 3,419.71 8,726.94 4,007.62 6,640.50 2,078.98 3,360.66 5,714.71 8,490.40 1,212.50 3,680.66 3,163.37
Total Equity & Liabilities 43,045.00 38,731.00 50,042.58 70,700.58 73,291.58 77,929.58 62,291.58 53,025.58 71,098.10 74,190.10 66,199.10 65,037.85 57,515.78
Page 38 of 38

Service Accounting Sample

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Recording Transactions - Income

Tax Invoice Template

Recording Transactions - Expenses

Recording Non-Cash Transactions

Recording Transactions - Transfers between Bank Accounts

Monthly Income Statement & Cash Flow Report

Annual Income Statement & Cash Flow Report

Roll Forward for Subsequent Financial Periods

Help & Customization

Business Name Example (Pty) Ltd

Business Registration Number 2011 000000 00

Sales Tax Percentage 14.0%

Account Type Current Account

Template Start Date 3/1/2017

Report Start Date 3/1/2017

Year End February

Input Error Codes

Description Amount Tax Total

Accounting Services 12,666.67 1,773.33 14,440.00

Total 22,578.95 3,161.05 25,740.00

Reconciliation Date 2/28/2018

Actual Bank Statement Balance 24,466.27

IS-400 Depreciation - - - - - - - - - - - 5,730.00

Working Capital Changes

Cash Flow from Investing Activities

IS-400 Depreciation 5,730.00 - 5,730.00 - 5,730.00 -

Net Profit 13,139.41 20,175.43 13,139.41 20,175.43 (9,338.78) 13,157.89

Working Capital Changes

Cash Flow from Investing Activities

Cash Flow from Financing Activities

Net Cash Movement 16,046.27 4,400.00 16,046.27 4,400.00 (19,159.00) 4,400.00

Cash at beginning of period 4,400.00 - 4,400.00 - 39,605.27 -

Cash at end of period 20,446.27 4,400.00 20,446.27 4,400.00 20,446.27 4,400.00

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