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] Most firms don't start out using Excel…for their accounting or for bookkeeping purposes.…Instead, many firms…whether they use their bookkeeping through internal staff…or whether it's done through external staff,…many firms rely on a customized package like QuickBooks…which is specifically purpose built…for accounting and bookkeeping.…I'm in the QuickBooks file right now.…Now, there's a variety of versions of QuickBooks.…
Yours will probably look somewhat similar to this.…We've got over here on the left…a variety of tasks we can do.…We could for example, create new invoices,…create a record of customers,…we can keep track of our expenses, our workers,…create various reports, et cetera.…For our purposes,…I wanted to start with something very basic.…I want to go through and create a sales receipt.…So perhaps we've sold some sort of product…to a customer and they've paid us.…I'm going to come up here to the plus sign…and click Sales Receipt.…
Now once I do that, I'm ready to go through…and create a sales receipt for the company in question.…
- 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.