Learn how to set up an accounting system in Excel and add beginning balances from a Certified Public Accountant (CPA)
Platform: Udemy
Status: Available
Duration: 2.5 Hours
Price: $84.99 $0.00
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What you'll learn
- How to create an accounting system in Excel
- How to enter beginning account balances into a new accounting system
- How to navigate Microsoft Excel
- How to enter beginning balances for inventory and create an accompanying subsidiary ledger
- How to enter beginning balances for accounts receivable and create an accompanying subsidiary ledger
- How to enter beginning balances for accounts payable and create an accompanying subsidiary ledger
- None - If you do not have access to Microsoft Excel you can use Google Sheets or another electronic spreadsheet program
Learners will learn how to navigate Microsoft Excel as well as how to create a well-designed accounting worksheet, complete with a general journal, trial balance, general ledger, and subsidiary ledgers for accounts receivable, accounts payable, & inventory.
Excel is a very good tool to learn accounting because it is much more transparent than a database program, like accounting software, QuickBooks being a common example of accounting software.
For most new steps in the process, you will have access to a downloadable Excel Workbook, containing at least two tabs, one with the answer, the new steps being completed, the other starting out where the prior presentation left off.
Once our accounting system using an Excel worksheet is set up, we will add journal entries to enter beginning balances to our accounts, imagining we are moving from a prior accounting system to our new Excel worksheet system.
When adding the beginning inventory balance to the chart of accounts, we will also add an inventory subsidiary ledger, reporting inventory by item and unit, as well as by cost.
As we add the beginning accounts receivable balance to the chart of accounts, we will also add the accounts receivable subsidiary ledger, showing the money owed to the company by customer.
And when we add the accounts payable balance to the chart of accounts, we will add the accounts payable subsidiary ledger, reporting the money owed by the company to vendors.
Who this course is for:
- Anybody who wants to learn accounting
- Anybody who wants to learn Microsoft Excel
- Accounting and business students
