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How To Set Up an Accounting Spreadsheet

How To Set Up an Accounting Spreadsheet

How To Set Up an Accounting Spreadsheet – Monitoring your bank account is essential in managing your budget and can also help detect suspicious or fraudulent activity. Many people use accounting spreadsheets to monitor transactions in their account, both withdrawals and deposits. The spreadsheet usually includes the date, the reason for the transaction, along with the amount and the current balance of the account. You can create your own accounting spreadsheet to help monitor your transactions using Excel, a spreadsheet that is included with Microsoft Office Suite and is also available stand-alone.

1 Open Excel by double-clicking its icon on the desktop. The program automatically opens a new book entitled “Book1”. Click “Save” in the “File” menu to save the book to your computer in the desired location. Number of the spreadsheet with the current month and year. If you store the transactions of each on a separate worksheet, you can use the naming convention yyyy-mm-dd. This ensured all spreadsheets in a folder, which can sort by order from most recent date to oldest.

2 Click the first cell in the upper-left corner of the worksheet, which is known as cell A1. Each worksheet is a collection of cells organized in a grid. Each cell is known for its location within the grid, specified as its column and row of coordinates. Cell A1 is the cell in column A, row 1 – that is, the first, or top left, cell of a worksheet.

3 Type “date” in the first cell. Click the next cell, which is B1, and type “Transaction”. Type “Quantity” in cell C1 and “balance” in cell D1 to create the headings of the accounting worksheet.

4 Change the font for the headings, highlighting the headings. Click cell A1 and drag the mouse to the last item in row 1 to unlock the cells. Press the “Ctrl” key and hold while pressing the letter “B”, to apply bold to the games. This ensured that your child is distinguished from the rest of the spreadsheet.

5 Enter the amount of your current bank account balance in Row 2 of “balance”, which is cell D2. This is the balance of what you will subtract and add transactions as you appear.

6 Highlight and format all cells in the “Quantity” column. The easiest way to select all the cells in a column and click on the column heading (in this case, “C”). Now, click on the column header and select “Format Cells” from the popup menu to open the “Format Cells” window. You can apply the “currency” style by selecting that option on the left side of the window. By default, Excel formats currency values ​​based on their locale. Optionally, you can select a format to display negative values ​​by the option of an option in the list on the right. Alternatively, you can apply the “accounting” style in the left window. This will automatically align the currency symbols and decimal points within the column, and display negative numbers in parentheses: ($ 1,234.10). This differentiates withdrawals from deposits. Click “OK” to end the procedure.

7 Repeat the previous steps in the balance column, which is column D.

8 Enter the date of the first transaction in the “Date” column in the third row. The purpose of the deposit or withdrawal must appear in the “Transaction” column in the third row. The deposit or withdrawal amount must be in the “Amount” column in the third row. If you are entering a withdrawal, enter the minus sign (a hyphen) before the amount.

9 Click on the “balance” cell at the end of the desired row (for the first transaction, this will be cell D3). On the keyboard, type the “=”, then click on the previous cell, D2, use the shift key to enter a “+” sign, then click on the cell on the left, C3, That contains the amount of the last transaction. Then press the “Enter” key. This introduces a formula “= D2 + C3”, which will calculate a new equilibrium by adding the last transaction to the previous equilibrium value. Although he used a plus sign, Excel correctly calculated the new balance, although the transaction in C3 was a negative value for a withdrawal.

10 Repeat steps 8 and 9 to add more transactions. For each new transaction, the new balance can be calculated in column D by copying the previous cell. For example, if you are entering a new transaction in row 4, you have to calculate cell D4 to

How To Set Up an Accounting Spreadsheet