Ledgers can be kept in Excel to make accounting with Excel easier. Accounting entries are simple but effective in Excel, and in this video, learn about making these work as an accountant.
- [Instructor] While P&L statements…and cash budgets are important for many accounts,…especially in smaller firms,…a lot of the daily work really comes…in simply keeping track of,…and categorizing revenue and expense sales.…Excel can help with that as we're about to see.…I'm in the 0201 begin excel exercise file.…Now, what we have here is a very basic general ledger…that we've set up in Excel.…And this is for a small company ABC.…
And as you see we've got a significant number of expenses…and income items.…When we put these under separate sheets,…we certainly could keep these in the same area,…for whatever reason this particular firm,…we've decided to separate these out.…And there's a lot of reasons why we might do that,…but, you know, in our case we simply separated out…the expense items on our first tab,…and all of our income items on the second tab.…Now, what we might be interested in doing,…from the point of view of kind of replicating the basic tasks…that an accountant does on a daily basis,…maybe we need to go through and enter certain items.…
- List the most common tasks and approaches faced by accountants in their daily lives.
- Determine whether transactions can be exported from Quickbooks to Excel or not.
- Outline the structure that the SUMIF function uses.
- Explain how to measure EBITDA.
- Identify at what level the General Ledger tracks expenses.
- Break down how to construct a business valuation using a cash flow analysis.