FOR ACCOUNTANT
MICROSOFT EXCEL VERSION
Description
Excel Accounting Cycle Spreadsheet for Service Company is an Excel spreadsheet specifically designed for Service Companies to record and process all company’s financial transactions from the beginning of the transaction to its representation on the financial statements, to closing the accounts, within one fiscal period, usually one year.
This spreadsheet has accounting cycle diagram as its main menu to help people practicing their accounting skills as well as applying them to process their company’s financial transactions.
FRONT MENU ▶ A clickable accounting cycle diagram
0 | SETUP ▶ Type starting date of your fiscal year (any dates), adjust Chart of Accounts and Subsidiary Accounts
1 | TRANSACTIONS ▶ Identify your financial transactions.
2 | JOURNALS ▶ Entry your your transactions in particular journals. Only a single general journal available for inputting financial transaction.
3 | GENERAL LEDGER ▶ Monitor your transaction by category. You don’t have to summarize those accounts manually.
4 | UNADJUSTED TRIAL BALANCE ▶ Check accounts summary in trial balance.
5 | ADJUSTING ENTRIES ▶ Adjust any transactions that are needed to be adjusted.
6 | ADJUSTED TRIAL BALANCE ▶ Check accounts summary after adjustment.
7 | FINANCIAL STATEMENT ▶ Analyze and print your report. Remember that in Service Company there is no Cost of Sales part. All costs will go to Expenses part.
8 | CLOSING JOURNAL ▶ Close income and withdrawal into owner’s equities
9 | POST CLOSING TRIAL BALANCE ▶ Check accounts summary after closing entries.
10 | REVERSING ENTRIES ▶ Prepare subsequent fiscal year by adjusting some entries (if needed).
You can read more information in journalSHEET | be Accountant info page.
