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YEAR END ADJUSTMENTS TEMPLATE
This
This template
template enables
enables users
users to
to record
record year
year end
end adjusting
adjusting journals
journals against
against any
any trial
trial balance
balance and
and automatically
automatically calculates
calculates all
al
amounts.
amounts. The
The template
template can
can be
be based
based on
on any
any account
account numbering
numbering convention
convention andand can
can contain
contain an
an unlimited
unlimited number
number ofof acco
acc
number
number of journal entries. User input is limited to copying the initial trial balance amounts and entering or copying all
of journal entries. User input is limited to copying the initial trial balance amounts and entering or copying all
journal entries.
journal entries.

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Get the
the full
full version
version of
of the
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template to
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unlock all
all the
the formulas!
formulas!
This
This isis only
only aa sample
sample file
file created
created to
to show
show you
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design of of the
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f
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access toto all
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areas of
of the
the template
template
You
You will also be able to edit and customize the full version just like any of your own Excel
will also be able to edit and customize the full version just like any of your own Excel ff

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ATE
ee and
and automatically
automatically calculates
calculates all
all the
the final
final trial
trial balance
balance
ain an
tain an unlimited
unlimited number
number ofof accounts
accounts and and an
an unlimited
unlimited
unts and entering or copying all the year end
unts and entering or copying all the year end adjusting adjusting

ee formulas!
formulas!
sign
sign of of the
the template.
template. GetGet the
the full
full version
version for
for aa fully
fully
ccess
ccess to to all
all areas
areas of
of the
the template
template including
including all
all formulas.
formulas.
just like any of your own Excel
just like any of your own Excel files.files.

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Excel Skills | Year End Adjustments Template
Instructions
www.excel-skills.com

This template enables users to record year end adjusting journals against any trial balance and automatically calculates all
the final trial balance amounts. The template can be based on any account numbering convention and can contain an
unlimited number of accounts and an unlimited number of journal entries. User input is limited to copying the initial trial
balance amounts and entering or copying all the year end adjusting journal entries. On
Onthis
thissheet:
sheet:
This
This sheet
sheet includes
includes detailed
detailed instructions
instructions
The following sheets are included in the template: on
on setting
setting up
up and
and using
using this
this template.
template.
TB - copy the initial trial balance account numbers, descriptions and amounts into the first three columns and the final trial
balance amounts are calculated based on the journal entries that are recorded on the Journals sheet.
Journals - enter or copy all the year end adjustment journal entries into the first four columns on this sheet. All debit
entries need to be entered as positive values and all credit entries need to be entered as negative values.

Trial Balance

A complete initial trial balance should be copied onto the TB sheet. Only the columns with yellow column headings require
user input. The columns with light blue column headings contain formulas which are automatically copied for all new
accounts that are added to the sheet. The TB sheet contains the following columns:

Acc No - copy the general ledger account numbers into this column. The template accommodates using account numbers
based on any account number convention and the number of accounts that can be added to the sheet is not limited.
Account
TB - copyDescription - copy
the initial trial an account
balance amountdescription for eachinto
of each account account numberThe
this column. into total
this column.
of all the account balances should
equal nil. If the total does not equal nil, it indicates that the trial balance does not balance and the total in cell C4 will be
highlighted in red.
Adjustments - Debit - the total of all the debit journal entries which have been recorded against the appropriate account
on the Journals sheet will be reflected in this column.
Adjustments - Credit - the total of all the credit journal entries which have been recorded against the appropriate account
on the Journals sheet will be reflected in this column.
Final TB - the final account balance after all adjusting journal entries will be reflected in this column.

Note: All the columns on the TB sheet have been included in an Excel table. This feature is useful when entering data in a
table format because the formulas that are included in calculated columns (the columns with light blue column headings)
are automatically copied when new rows are added to the table or when data is entered into the first blank row below the
table. You can therefore add a new account to the table by simply entering or copying an account number in column A -
the table will then automatically be extended to include the new account number.

The TB sheet contains totals in the row above the column headings which indicate if the amounts in the appropriate
columns balance. The total of the TB amounts in column C and the final TB amounts in column F should always total a nil
value in order for the trial balance to be in balance. The sum of the total of the debit adjustment and credit adjustment
amounts in columns D and E should also equal a nil value if all the journal entries that have been recorded on the Journals
sheet are in balance. If any of the totals on the TB sheet does not equal a nil value, the appropriate total will be highlighted
in red.

Note: If you apply a filter to the TB sheet, the total calculations will only include the cells that are still visible on the sheet.
The total of the filtered cells may not equal a nil value but will still be highlighted in red. This formatting can therefore be
ignored when a filter has been applied to the sheet.

Journal Entries

All the year end adjusting journal entries need to be recorded on the Journals sheet. Only the columns with yellow column
headings require user input. The columns with light blue column headings contain formulas which should be copied for all
new entries that are added to the sheet. The Journals sheet contains the following columns:
Jnl No - a unique journal number should be entered for each journal entry that is added to the sheet. The journal number
can be in any format but it is imperative that the journal number is repeated for all entries that form part of each journal. We
recommend using a combination of letters and numbers (for example "J1") in order to ensure that the error checking
features function correctly.
Acc No - select the appropriate account number to which the journal should be allocated from the list box in this column.
All the account numbers that have been added to the TB sheet will be included in the list boxes in this column.
Journal Description - enter a description for the journal into this column. The description should enable users to
determine what the purpose of each journal entry is and can be the same for all the rows that form part of the same journal
or you can enter a unique description into each line of the journal entry.
Amount - enter the journal amount in this column. Positive amounts are deemed to be debit entries and negative amounts
are deemed to be credit entries. The total of all the entries that form part of the same journal number should be nil.
Account Description - the formula in this column displays the account description of the account that has been selected
in column B. The account description has been included on the sheet in order to enable users to check whether the correct
account has been selected.
Type - the formula in this column indicates whether the journal entry is a debit or a credit. All positive amounts are deemed
to be debit entries and all negative amounts are deemed to be credit entries.
Error Code - this column will contain an error code if there is a problem with the journal entry which has been entered in
the appropriate row. Refer to the Error Codes section of the instructions for more detail on how to resolve the errors that
may be reflected in this column.

Note: All the columns on the Journals sheet have been included in an Excel table. This feature is useful when entering
data in a table format because the formulas that are included in calculated columns (the columns with light blue column
headings) are automatically copied when new rows are added to the table or when data is entered into the first blank row
below the table. You can therefore add a new journal entry to the table by simply entering a journal number into column A -
the table will then automatically be extended to include the new journal entry.

All individual journal entries should total a nil value and the total of all the journal entries that are added to the Journals
sheet should also total a nil value. If an individual journal entry does not total a nil value, an error code will be displayed
next to all the entries that form part of the appropriate journal number. It is therefore imperative that a unique journal
number is entered for all year end adjustment journals.

If the total of all the journal entries that are added to the Journals sheet does not equal nil, the total will be reflected in cell
D3 and highlighted in red. This formatting will be removed automatically when the problem has been rectified and a nil
value is displayed in this cell.

Page 3 of 7
Excel Skills | Year End Adjustments Template
Instructions
www.excel-skills.com

Note: If you apply a filter to the Journals sheet, the total in cell D3 will only include the cells that are still visible on the
sheet. The total of the filtered cells may not equal a nil value and will therefore be highlighted in red. This formatting can
therefore be ignored when a filter has been applied to the sheet.

Error Codes

The following error codes may result from inaccurate input on the Journals sheet and will be displayed in the Error Code
column. The heading of the affected input column will also be highlighted in red:

■ E1 - this error code means that the account number that has been selected in column B is invalid. All the accounts that
have been added to the TB sheet will be included in the list boxes in column B and the error can therefore be rectified by
simply selecting a valid account number from the list box. New accounts must be added to the TB sheet before being
available for selection.
■ E2 - this error code means that total amount for the appropriate journal number does not equal a nil value. The error
codes will be reflected next to all the entries that form part of the appropriate journal number. The error can be rectified by
editing the journal amounts in column D or adding / deleting entries in order for the journal total to equal a nil value.

Help & Customization

If you experience any difficulty while using this template and you are not able to find the appropriate guidance in these
instructions, please e-mail us at support@excel-skills.com for assistance. This template has been designed with flexibility
in mind to ensure that it can be used in most business environments. If however you need an Excel based template that is
customized specifically for your business requirements, please e-mail our Support function and provide a brief explanation
of your requirements.

© Copyright

This template remains the intellectual property of www.excel-skills.com and is protected by international copyright laws.
Any publication or distribution of this template outside the scope of the permitted use of the template is expressly
prohibited. In terms of the permitted use of this template, only the distribution of the template to persons within the same
organisation as the registered user or persons outside the organisation who can reasonably be expected to require access
to the template as a direct result of the use of the template by the registered user is allowed. Subsequent distribution of the
template by parties outside of the organisation is however expressly prohibited and represents an infringement of
international copyright laws.

Page 4 of 7
Year End Adjustments Template
Trial Balance
1,196,024.00 -1,196,024.00
© www.excel-skills.com - Adjustments -
Acc No Account Description TB Debit Credit Final TB
BS-100 Land & Buildings - Cost 2,000,000.00 - - 2,000,000.00
BS-105 Plant & Equipment - Cost 794,677.00 - - 794,677.00
BS-110 Furniture & Fittings - Cost 160,000.00 - - 160,000.00
BS-150 Land & Buildings - Accum Depreciation -360,000.00 - -50,000.00 -410,000.00
BS-155 Plant & Equipment - Accum Depreciation -182,675.00 - -150,000.00 -332,675.00
BS-160 Furniture & Fittings - Accum Depreciation -26,000.00 - -4,330.00 -30,330.00
BS-200 Goodwill - Cost 250,000.00 - - 250,000.00
BS-205 Trademarks - Cost 30,000.00 - - 30,000.00
BS-210 Software - Cost 8,500.00 - - 8,500.00
BS-250 Goodwill - Accum Amortization -15,000.00 - -25,000.00 -40,000.00
On
Onthis
thissheet:
sheet:
BS-255 Trademarks - Accum Amortization -5,000.00 - -3,000.00 -8,000.00
Copy
Copy your
your trial
trial balance
balance into
into the
the columns
columns with
with yellow
yellow column
column headings
headings -- the
the formulas
formulas
BS-260 Software - Accum Amortization -4,250.00 - -4,250.00 -8,500.00
in
in the
the columns
columns with
with light
light blue
blue column
column headings
headings automatically
automatically update
update the
the final
final trial
trial
BS-270 Investments balance 107,500.00 - -17,500.00 90,000.00
balance amounts
amounts with
with all
all the
the journal
journal entries
entries recorded
recorded onon the
the "Journals"
"Journals" sheet.
sheet.
BS-300 Petty Cash 3,478.00 - - 3,478.00
BS-305 Bank Overdraft -20,435.00 - - -20,435.00
BS-310 Bank Accounts 15,000.00 210,000.00 -22,500.00 202,500.00
BS-500 Trade Debtors 579,044.00 - - 579,044.00
BS-510 Prepayments 42,190.00 - - 42,190.00
BS-520 Other Debtors - 22,500.00 - 22,500.00
BS-530 Provision for Doubtful Debts - - -35,200.00 -35,200.00
BS-600 Raw Materials 132,892.00 - -22,000.00 110,892.00
BS-605 Work in progress 1,800.00 - - 1,800.00
BS-610 Finished goods 210,358.00 - -15,600.00 194,758.00
BS-700 Trade Creditors -335,190.00 - - -335,190.00
BS-705 Accruals -55,000.00 55,000.00 -70,000.00 -70,000.00
BS-710 Interest Payable - - -5,000.00 -5,000.00
BS-715 Taxation Provision - - -211,309.00 -211,309.00
BS-720 Dividends Payable - - -150,000.00 -150,000.00
BS-730 Provision for Bonuses - - -110,200.00 -110,200.00
BS-740 Other Creditors -3,200.00 - -210,000.00 -213,200.00
BS-800 Long Term Liabilities -250,000.00 - - -250,000.00
BS-810 Finance Leases -82,931.00 - - -82,931.00
BS-900 Deferred Tax 2,155.00 - -35,135.00 -32,980.00
BS-950 Share Capital -30,000.00 - - -30,000.00
BS-990 Retained Earnings - Opening Balance -1,756,159.00 - - -1,756,159.00
IS-100 Sales -5,120,788.00 - - -5,120,788.00
IS-200 Cost of Sales 2,755,262.00 - - 2,755,262.00
IS-210 Stock Write Off 135,200.00 37,600.00 - 172,800.00
IS-305 Accounting Fees 35,000.00 - - 35,000.00
IS-310 Advertising & Marketing 84,000.00 - - 84,000.00
IS-315 Bank Charges 11,200.00 - - 11,200.00
IS-317 Bad Debts 652.00 35,200.00 - 35,852.00
IS-320 Commission 47,000.00 - - 47,000.00
IS-325 Computer Expenses 33,256.00 - - 33,256.00
IS-330 Consumables & Cleaning 15,400.00 - - 15,400.00
IS-335 Entertainment 8,620.00 - - 8,620.00
IS-340 Insurance 25,000.00 - - 25,000.00
IS-345 Office Expenses 13,000.00 - - 13,000.00
IS-350 Office Rent 228,570.00 - - 228,570.00
IS-355 Postage 3,840.00 - - 3,840.00
IS-360 Professional & Legal Fees 52,800.00 - - 52,800.00
IS-365 Salaries & Wages 438,325.00 160,200.00 -30,000.00 568,525.00

Page 5 of 7
Year End Adjustments Template
Trial Balance
1,196,024.00 -1,196,024.00
© www.excel-skills.com - Adjustments -
Acc No Account Description TB Debit Credit Final TB
IS-370 Stationery 7,593.00 - - 7,593.00
IS-375 Subscriptions & Memberships 4,360.00 - - 4,360.00
IS-380 Telephone & Internet 28,642.00 - - 28,642.00
IS-385 Training 33,965.00 - - 33,965.00
IS-390 Travelling & Accommodation 27,700.00 20,000.00 -25,000.00 22,700.00
IS-395 Utilities - - - -
IS-400 Depreciation - 204,330.00 - 204,330.00
IS-450 Amortization - 32,250.00 - 32,250.00
IS-500 Interest Paid 45,200.00 5,000.00 - 50,200.00
IS-600 Taxation - 246,444.00 - 246,444.00
IS-700 Other Expenses 4,449.00 17,500.00 - 21,949.00
IS-800 Other Income -130,000.00 - - -130,000.00
IS-900 Dividends - 150,000.00 - 150,000.00

Page 6 of 7
Year End Adjustments Template
Adjusting Journal Entries
© www.excel-skills.com -
Jnl No Acc No Journal Description Amount Account Description Type Error Code
J1 IS-400 Depreciation charges 204,330.00 Depreciation Debit -
J1 BS-150 Depreciation charges -50,000.00 Land & Buildings - Accum Depreciation Credit -
J1 BS-155 Depreciation charges -150,000.00 Plant & Equipment - Accum Depreciation Credit -
J1 BS-160 Depreciation charges -4,330.00 Furniture & Fittings - Accum Depreciation Credit -
J2 IS-450 Amortization charges 32,250.00 Amortization Debit -
J2 BS-250 Amortization charges -25,000.00 Goodwill - Accum Amortization Credit -
J2 BS-255 Amortization charges -3,000.00 Trademarks - Accum Amortization Credit -
J2 BS-260 Amortization charges -4,250.00 Software - Accum Amortization Credit -
J3 IS-700 Impairment of investment 17,500.00 Other Expenses Debit -
J3 BS-270 Impairment of investment -17,500.00 Investments Credit -
J4 BS-310 Reallocate outstanding payments to creditors 210,000.00 Bank Accounts Debit -
On
Onthis
thissheet:
sheet:
J4 BS-740 Reallocate outstanding payments to creditors -210,000.00 Other Creditors Credit -
Enter
Enter all
all year
year end
end adjustment
adjustment journal
journal entries
entries on on this
this sheet.
sheet. Only
Only the
the columns
columns with
with yellow
yellow column
column
J5 BS-520 Reallocate outstanding deposits to debtors 22,500.00 Other Debtors Debit -
headings
headings require
require user
user input.
input. The
The columns
columns with
with light
light blue
blue column
column headings
headings contain
contain formulas
formulas which
which areare
J5 BS-310 Reallocate outstanding deposits to debtors -22,500.00 Bank Accounts Credit -
automatically
automatically copied
copied for
for all
all new
new rows
rows added
added toto the
the table.
table. The
The formulas
formulas in
in these
these columns
columns make
make itit easy
easy to
to
J6 IS-317 Provision for doubtful debts 35,200.00 Bad Debts Debit -
identify
identify the
the appropriate
appropriate account
account and
and to
to check
check whether
whether all all journals
journals balance.
balance. Debit
Debit entries
entries should
should be be
J6 BS-530 Provision
recorded for doubtful debts -35,200.00 negative
Provision for Doubtful Debts Credit -
recorded asas positive
positive values
values and
and credit
credit entries
entries should
should be be recorded
recorded as as negative values.
values.
J7 IS-210 Stock written off on raw materials & finished goods 37,600.00 Stock Write Off Debit -
J7 BS-600 Stock written off on raw materials & finished goods -22,000.00 Raw Materials Credit -
J7 BS-610 Stock written off on raw materials & finished goods -15,600.00 Finished goods Credit -
J8 BS-705 Reverse prior month accruals 55,000.00 Accruals Debit -
J8 IS-365 Reverse prior month accruals -30,000.00 Salaries & Wages Credit -
J8 IS-390 Reverse prior month accruals -25,000.00 Travelling & Accommodation Credit -
J9 BS-705 Year end accruals for unrecorded liabilities -70,000.00 Accruals Credit -
J9 IS-365 Year end accruals for unrecorded liabilities 50,000.00 Salaries & Wages Debit -
J9 IS-390 Year end accruals for unrecorded liabilities 20,000.00 Travelling & Accommodation Debit -
J10 BS-710 Interest provision -5,000.00 Interest Payable Credit -
J10 IS-500 Interest provision 5,000.00 Interest Paid Debit -
J11 BS-730 YE Provision for bonuses -110,200.00 Provision for Bonuses Credit -
J11 IS-365 YE Provision for bonuses 110,200.00 Salaries & Wages Debit -
J12 IS-900 YE Provision for dividend 150,000.00 Dividends Debit -
J12 BS-720 YE Provision for dividend -150,000.00 Dividends Payable Credit -
J13 IS-600 YE Provision for taxation 211,309.00 Taxation Debit -
J13 BS-715 YE Provision for taxation -211,309.00 Taxation Provision Credit -
J14 IS-600 YE Deferred tax adjustment 35,135.00 Taxation Debit -
J14 BS-900 YE Deferred tax adjustment -35,135.00 Deferred Tax Credit -