Trading Accounting Sample

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ACCOUNTING - TRADE BASED TEMPLATE

Our trade based accounting template enables users to record income & expenses and automatically produces a trial
cash flow statement and balance sheet. The template also includes automated calculations of gross profit amounts &
hand, invoices, customer statements and customer ageing. The default accounts can be customized and an unlimited num
can be added. It also accommodates sales tax calculations and multiple bank accounts.
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utomatically produces a trial balance, income statement,
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Excel Skills | Trade Based Accounting Template
Instructions
www.excel-skills.com
Our trade based accounting template enables users to record income & expenses and automatically produces a trial
balance, income statement, cash flow statement and balance sheet. The template also includes automated calculations of
gross profit amounts & percentages, inventory on hand, invoices, customer statements and customer ageing. The default
accounts can be customized and an unlimited number of additional accounts can be added. It also accommodates sales
tax calculations and multiple bank accounts. After completing the initial template setup, the template can be rolled forward
or back by simply changing the reporting year in a single input cell.
Note: The main difference between this template and our Service Based accounting template is that this template includes
inventory. You can create stock codes and allocate sales & purchases to these stock codes. Sales, cost of sales, gross
profit amounts & percentages, inventory on hand and average costs are automatically calculated.
Note: This template has been designed mainly for relatively simple trade based businesses. Although the template
technically accommodates an unlimited number of stock codes and transactions, the template is not really suitable for
businesses with hundreds of stock codes and thousands of inventory transactions.
The template includes the following sheets:
Setup - enter your business & banking details and customize the sales tax codes and bank codes. The business &
banking details are included on the automated invoice and customer statement. The sales tax codes & percentages are
used to calculate sales tax on all income & expense transactions and bank codes can be used to allocate transactions to
multiple bank accounts. The first financial year, reporting year and year-end input cells determine the monthly periods that
are included on the trial balance, income statement, cash flow statement and balance sheet.
Groups - this sheet contains the default list of account groups that are used in this template. You can customize the
descriptions of the account groups but we do not recommend changing the account group keys. Additional account groups
can be added and inserted in the appropriate location on the income statement, cash flow statement and balance sheet.
TB - this sheet contains a full list of the accounts that are included in the template and a trial balance which is
automatically calculated based on the transactions that are entered on the Income and Expenses sheets. The default
accounts list can be customized by editing the existing accounts or by inserting new rows for additional accounts. The
period for which the trial balance is calculated is determined by the month-end period that is selected at the top of the
sheet in column G.
Customers - create unique customer codes for all customers and enter their billing details. The sheet also includes an
automated calculation of outstanding balances and an ageing of customer account balances which can be calculated
based on any user defined date.
Stock - create stock codes for all products and enter the unit of measure (UOM) and cost of sales account for each stock
item. You can also include the start-up quantities & costs as at the beginning of the first financial year that is included in
the template. The calculated columns contain calculations of the inventory on hand and the inventory movements for the
user defined
Income - all date range
income which
and can
other be specified
receipt at the should
transactions top of the
be sheet.
entered on this sheet. The columns with yellow column
headings require user input and the columns with light blue column headings contain formulas and are therefore
automatically calculated.
Invoice - this sheet contains an automated tax invoice. Simply enter the appropriate invoice number and the rest of the
sheet is automatically
Statement - this sheetpopulated
contains based on the details
an automated recorded
customer on the Select
statement. Setup, the
Income and Customers
customer sheets.
code, enter the statement date
and the rest of the sheet is automatically populated based on the details recorded on the Setup, Income and Customers
sheets.
Expenses - all expense and other payment transactions should be entered on this sheet. The columns with yellow column
headings require user input and the columns with light blue column headings contain formulas and are therefore
automatically calculated. We also recommend entering all journals on this sheet.
IS - the monthly income statement on this sheet is automatically compiled based on the transactions that are recorded on
the Income and Expenses sheets. The 12 monthly periods that are included in the report are determined based on the
reporting year that is specified on the Setup sheet.
CFS - the monthly cash flow statement on this sheet is automatically compiled based on the income statement and
balance sheet calculations.
BS - the monthly balance sheet on this sheet is automatically compiled based on the transactions that are recorded on the
Income and Expenses sheets. All the line items are set to report account group totals but you can include individual
accounts by changing the keys in column A.
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Instructions
Bank - this sheet contains an analysis of bank account movements on a daily basis (for the selected month) and on a
monthly basis for the current financial year. Aside from selecting the bank code and month, no user input is required on
this sheet.
SalesTax - this sheet contains a monthly sales tax analysis. All the calculations are automated. You can select the tax
type and any of the individual sales tax codes at the top of the sheet to view the output and input values for any tax type or
tax
GP code.
- this The template
sheet provides
contains a grossfor two analysis
profit default tax
bytypes
stockfor national
code. Asideor from
federal sales tax
selecting theand state sales
appropriate tax. code, no user
stock
input is required. The calculations on this sheet make it easy to monitor the gross profit percentages & stock quantities for
each stock item.
Setup
The first step in setting up the template for your business is to enter your business details at the top of the Setup sheet.
Your business name is included as a heading on all the other sheets and the other business details are included on the tax
invoice & customer statement. You also need to enter the first financial year & the reporting year, select a year-end month
and maintain your sales tax & bank codes on the Setup sheet.
The first financial year that is entered on the Setup sheet is very important because it determines the first period that will
be included in the template calculations. The year that is specified in this input cell also determines the effective date for
which opening balance sheet balances should be entered in column C on the TB sheet.
Note: Once you have set the first financial year that needs to be included in the template, you need to use a trial balance
as at the end of the previous financial year (as generated in your previous accounting solution) to enter the balance sheet
opening balances in column C on the TB sheet. The total of all the balance sheet opening balances needs to be nil in
order for the balance sheet to balance.
This template can only be used for full financial years. The template does not make provision for entering opening
balances for income statement items and you therefore need to start with data for a full financial year. If you therefore
switch from another accounting solution to our template, you need to recapture all your income & expenses as from the
first day of the first financial year that is included in the template.
The reporting year that is entered on the Setup sheet determines the 12 monthly periods that are included on the income
statement, cash flow statement and balance sheet. The IS, CFS and BS sheets include 12 monthly periods - these periods
and the calculations that are automatically performed on these sheets can therefore be amended by simply changing the
reporting year on the Setup sheet to include a new 12-month financial period in these reports.
Note: The first financial year basically needs to be set once when you start using the template but the reporting year can
be used to roll the 12-month financial period that is included in the template forward or back by simply changing the year in
this cell. The template can be used for multiple financial years and all template calculations are updated automatically
when you change the reporting year.
You also need to select the appropriate year-end month from an input cell on the Setup sheet. This selection is used to
determine the start date and the end date of each financial year and also determines the date on which opening balance
sheet balances need to be included on the TB sheet.
Sales Tax Codes

The template accommodates an unlimited number of sales tax codes. You can include as many sales tax codes as you
want by editing the default list of sales tax codes on the Setup sheet and adding additional sales tax codes by inserting the
required number of additional rows, entering a sales tax code (use letters between A and Z) and entering the appropriate
sales tax percentage.
Page 4 of 50
Instructions
The sales tax codes included in the list on the Setup sheet are automatically included in the drop-down lists in the Sales
Tax Code columns on the Income and Expenses sheets and the relevant percentages are automatically used to calculate
the sales tax amounts on the same sheets. The template provides for two default sales tax types - national or federal sales
tax and state sales tax and each sales tax type therefore has its own code selection and amount columns.
When recording transactions on the Income sheet, you are required to enter a quantity and selling price for stock related
transactions. Some users may want to enter selling prices which are inclusive of sales tax and others may want to enter
selling prices which are exclusive of sales tax. These different requirements have been accommodated in the template
design by adding a selection field below the sales tax codes which enable users to select the basis for entering selling
prices on the Income sheet. Sales tax, inclusive amounts and exclusive amounts are automatically adjusted based on the
selection on the Setup sheet.
All the sales tax codes are available in both sales tax columns but you can use different sales tax codes and therefore
different percentages for national or federal sales tax and state sales tax by simply selecting the relevant codes in the
appropriate column which automatically results in the appropriate sales tax percentage being applied to the sales tax
calculations. If the sales tax percentages change, you can simply create a new sales tax code for the new percentage and
use it from the effective date for the new sales tax percentage.
If you do not need sales tax to be calculated, you can simply leave the sales tax code columns blank or select any code
with a zero percentage on the Setup sheet which will result in no sales tax being calculated.
If you do not need both sales tax columns, we recommend selecting the appropriate sales tax codes in the first column and
simply leaving the second sales tax code column blank or using a sales tax code with a zero percentage which would
result in no sales tax being calculated in the second sales tax amount column. You can delete the second sales tax code
and amount columns without affecting the sales tax calculations in the first sales tax code and amount columns but it may
result in a data validation warning being displayed in the first sales tax amount column. These warnings just refer to the
missing parts for the second sales tax calculations in the formulas and can safely be ignored.
We have also included a SalesTax sheet which is automatically calculated and requires no user input. This sheet contains
a monthly analysis of sales tax amounts and can be used to populate sales tax returns. The calculations can also be
displayed for a specific sales tax code by simply selecting the appropriate code from the list box at the top of the sheet.
When you then clear the contents of the list box, totals for all sales tax codes are displayed.
Bank Accounts
The template also accommodates an unlimited number of bank accounts. You can include as many bank accounts as you
want by editing the list of bank account codes on the Setup sheet and adding additional bank account codes by inserting
the required number of additional rows, entering a bank account code and entering a description of the bank account. You
also then need to copy the formulas in columns D and E (indicated with light blue cell background) from one of the existing
bank account codes.
Note: When adding bank account codes, we recommend inserting new rows anywhere above the JC bank account code
and using a two character bank code for all new bank accounts. The JC bank account code is reserved for journal entries
and the default code for this bank code should not be changed. Journals do not really have a cash effect but we are using
the JC code to facilitate including general ledger journal type entries in the template.
All the bank codes that are added to the Setup sheet are automatically included in the drop-down list boxes on the Income
and Expenses sheets and are available for selection immediately after being added to the Setup sheet. If the default
number of bank account codes (four including petty cash) is not sufficient for your requirements and you have added
additional bank account codes to the Setup sheet, you also need to add these bank account codes to the TB and BS
sheets.
Note: It is very important that you add the additional bank account codes to the TB and BS sheets otherwise your trial
balance and balance sheet will not balance!
Page 5 of 50
Instructions
The bank accounts on the TB sheet are part of the control accounts section at the bottom of the sheet. If you need to add
additional bank codes, we recommend doing so above the JC bank account (BS-BJC in column A). Adding the additional
bank codes is a simple exercise - insert the required number of additional rows and copy the formulas from one of the
existing bank account rows. The template will automatically display your bank account codes in the same sequence as
they are included on the Setup sheet.
After adding the additional bank account codes to the TB sheet, you also need to add the new codes to the BS sheet. The
procedure to follow is again really simple - insert the required number of additional rows above the JC bank account code
(BS-BJC key in column A) and copy the formulas from one of the existing rows. You can copy the entire row to ensure that
you have included the formulas in all columns. The formulas will automatically pick up the correct bank account codes.
Note: If an additional bank account has been added to the Setup sheet and not included on the TB or BS sheets, the
appropriate row will contain an "add!" status in column D or E. This indicates that the bank account still needs to be added
to the appropriate sheet.
Note: We have also included a Bank sheet in the template which enables users to analyse bank account movements in a
lot more detail especially when preparing bank reconciliations. This sheet enables users to select a bank account code and
month at the top of the sheet in order to display daily and monthly bank account movements. Aside from selecting the bank
code and month, the sheet requires no user input.
Banking Details
The information that is entered in the banking details section is included on the tax invoice. If you clear the default data
from the input field, no banking details will be included in the section at the bottom of the invoice. If you do enter banking
details and you change the description of the input fields, these changes will also be affected on the tax invoice on the
Invoice sheet.
Note: The last input field provides for any text that you want to display at the bottom of the banking details section on the
Invoice sheet.
Input Error Codes
The input error codes at the bottom of the sheet are included for information purposes only and provide users with a
reason for the error codes that may be encountered when entering transactions on the Income and Expenses sheets.
These error codes are covered in more detail in the Error Codes section of these instructions.
Account Groups
The accounts that are included on the income statement, cash flow statement and balance sheet are based on a pre-
defined account structure which consists of pre-defined account groups that are used to populate the appropriate line
items. A detailed list of these account groups is included on the Groups sheet.
Note: Changes to the Groups sheet do not influence any of the calculations on the other sheets and only have an effect on
the account group descriptions that are included on the IS, CFS and BS sheets. If you want to make changes to our
default account groups, we only recommend doing so if absolutely necessary and that you customize existing account
groups before considering adding new account groups. Customizing similar, existing account groups which are not
required is a lot easier than adding new account groups.
Note: If you do not change any of the default account groups, it is not necessary to review the rest of the instructions in the
Account Groups section.
Page 6 of 50
Instructions
The description of line items on the balance sheet can be changed quite easily by changing the description of the
appropriate account group on the Groups sheet and then changing the account descriptions of the appropriate accounts
which are included in the account group on the TB sheet. Account groups can accommodate up to 100 individual accounts
which are linked to the account group by the same first 5 account number characters.
Example: The account group key for property, plant & equipment (cost) is BS-00 and the account group is included as a
group total on the balance sheet (key of BS-00G) which means that all accounts that start with BS-00 will be included in
this account group total on the balance sheet. The default account number for Land & Buildings (cost) is BS-0005 which
starts with BS-00 and therefore forms part of this account group.
The same account integration principle is applied to most balance sheet account groups where the default integration is to
report account group totals (as indicated by the "G" at the end of the account group keys). Although it is not difficult to add
new account group keys to the Groups sheet and to then include the new keys in the balance sheet or income statement,
there is a risk of balance sheet imbalances occurring if the cash flow statement movements are not included correctly. We
therefore recommend completing the following steps if you want to add new account groups to the income statement or
balance sheet:
■ Scan the Groups sheet for similar items which you are not going to use. For an item to be similar, it needs to be of the
same nature as the item that you want to add. For example, current assets can only be replaced by other current assets
and liabilities can only be replaced by other liabilities. If the items differ in nature, you should add a new account group
instead of using an existing one.
■ If no suitable existing item can be found, insert a new row and add a new account group by entering the appropriate
account group key and a description for the account group. When adding keys, you need to stick to the principle of a five
character key which is unique and account numbers that need to be linked to this key, need to also start with the same five
characters followed by a number between 00 and 99.
■ When adding new account groups, we suggest using the next available account group number after the "BS-". The
default balance sheet account groups end after "BS-20" which means that the first available account group is "BS-21". The
default income statement account groups end after "IS-10" which means that the first available account group is "IS-11".
■ After adding the appropriate account group to the Groups sheet, go to the TB sheet and add the required individual
accounts which need to be included in the account group total on the balance sheet. Remember that the appropriate
account numbers all need to start with the same first five characters as the account group and refer to the New Accounts
section of these instructions for guidance on adding new accounts to the TB sheet.
■ Next, you need to add the new account group to the income statement or balance sheet. This is relatively simple - find a
similar income statement or balance sheet item, insert a row above or below it, copy the entire row from the existing item
into the new empty row and then change the account key in column A so that the new account group that you just created
on the Groups sheet will be included in the calculations in the new line. For example, if your new account group has been
created as BS-21, the key in column A on the balance sheet should be "BS-21G". Only similar items with a green key in
column A should be used - the items with orange keys are custom formulas which cannot be copied for similar line items!
■ After adding the new account group to either the income statement or balance sheet, make sure that the total that this
item is included in is correct. For most income statement or balance sheet items, this should automatically be the case but
in some instances especially with regards to the income statement, you may need to edit some of the default formulas to
ensure that the new account group is taken into account in the relevant totals.
■ Next, if you have added a new balance sheet account group, you will also need to make changes to the cash flow
statement. Income statement items are included in a cash flow statement by including a profit or loss from the income
statement and it therefore probably won't be necessary to make changes to the cash flow statement if you have added a
new income statement account group.
■ If necessary, find a similar balance sheet item on the cash flow statement (CFS sheet), insert a new row above or below
it, copy the entire row from the existing, similar line item and enter the new key in column A. Only similar items with a green
key in column A should be used - the items with orange keys are custom formulas which cannot be copied for similar line
items!
■ You also need to ensure that the appropriate total on the cash flow statement includes the new account group which has
been added otherwise your balance sheet may not balance.
As you can see, it becomes relatively complex when needing to add new account groups to the template and it is therefore
much easier to change the descriptions of one of the existing line items in order to accommodate new or renamed account
groups.
Page 7 of 50
Instructions
Note: Refer to the Account Integration section of the instructions for guidance on how to include individual accounts on the
income statement or balance sheet. This section is part of the main Trial Balance section below.
Chart Of Accounts & Trial Balance
The TB sheet has a dual purpose - it contains the chart of accounts which represents a detailed list of the account
numbers which are available for the allocation of transactions & the reporting of transaction totals and it contains a detailed
trial balance which is automatically calculated based on the transactions that are recorded on the Income and Expenses
sheets and allocated to accounts in the Account Number columns.
Chart of Accounts
The default chart of accounts on the TB sheet includes all the individual accounts that have been created in each of the
default account groups. Account groups constitute the first 5 characters of the account number and the individual account
numbers are represented by the next two characters in the account numbers. Each account group can therefore
accommodate up to 100 account numbers (00 to 99).
Note: The template has been designed based on a fixed account number format. All account numbers start with a two
character code which identifies whether an account is an income statement account (IS) or a balance sheet account (BS)
followed by a hyphen, the two-digit account group (as listed on the Groups sheet) and a two-digit account number. This
default account number format should not be deviated from otherwise the template calculations may not be accurate.
The template can be customized for your business by reviewing the accounts that are included for each account group (as
per the Groups sheet), changing the account descriptions in column B (where required) and inserting additional accounts if
the number of accounts that are provided for in the default chart of accounts are not sufficient.
Additional accounts can be created on the TB sheet by inserting a new row, entering the appropriate account number,
entering an account description and copying the formulas in columns E to H from one of the existing rows. We also
recommend inserting the new row in the appropriate location based on the account number sequence (in an ascending
order). The list boxes in the Account Number columns on the Income and Expenses sheets include the accounts in the
same sequence as on the TB sheet - if account numbers are therefore not added in the correct order, it may be confusing
when selecting accounts.
Note: All new accounts need to be created within the existing account group structure (as per the Groups sheet) otherwise
the template calculations may not be accurate and your balance sheet may not balance. New account groups can be
created as per the Account Groups section of the instructions.
Note: You can also delete any of the default accounts that are included in the chart of accounts on the TB sheet if they are
not required for your business. Just be careful when doing so - if you have allocated transactions to an account and you
subsequently delete it, it may cause errors and template imbalances!
Note: The default chart of accounts includes two accounts that should not be deleted because they serve a specific
purpose. The Cash Transfer Control account (BS-0799) should be used when recording transfers between bank accounts
on the Expenses sheet. The Direct Costs Control account (IS-0299) is used when any of the cost of sales accounts which
have been assigned to individual stock codes on the Stock sheet are invalid.
Account Integration
The template provides for including accounts as a group total or as individual accounts on the income statement, cash flow
statement and balance sheet. If an account is integrated on an account group basis on the IS, CFS or BS sheets, the key
in column A should contain the account group number followed by a "G". If an account is integrated on an individual
account basis, the key in column A on the IS, CFS or BS sheets should be the full account number with no additional
characters at the end.
Page 8 of 50
Instructions
Note: If the accounts in an account group are integrated on an individual account number basis, you need to manually add
all the individual accounts to the appropriate sheet in order to ensure that all accounts that are included in the appropriate
account group are included on the appropriate sheet. If an individual account in the appropriate account group is omitted
and transactions are allocated to it, the balance sheet may not balance.
If you stick to the default account numbers and do not add any new accounts, you do not need to be concerned about the
integration because all accounts will be included correctly. If you make changes to the account groups or account
numbers, it is important to ensure that you have added account groups or accounts where necessary otherwise the
template calculations may become inaccurate.
We have therefore added an account status in column H on the TB sheet where it is necessary to check the integration of
an account (not necessary for control accounts). This column can have any of the following statuses:
■ Group - individual account balances will be included as a group total on the income statement or balance sheet.
■ Account - individual account balances will be included on the income statement or balance sheet.
■ Error! - this status means that an account number has been created but no integration could be found for the new
account number. You should check the account number format that you have entered and correct it if necessary. If the
account number is correct, the error is probably the result of the account number not being included on the income
statement or balance sheet.
■ Double! - this status means that an account number integration has been added for the account number on both the
individual account number and account group basis. If the integration for an account group is set up in such a way that
accounts are integrated individually, you cannot also integrate the accounts on a group basis because the affected
account balances will be included twice. The template calculations will be inaccurate if there is double integration. If
individual account integration is applied, all the individual accounts that form part of an account group need to be included
individually on the income statement or balance sheet.
Note: If any row on the TB sheet contains an error or double status, the appropriate cell will be highlighted in red until the
error is fixed. These errors usually result in imbalances on the balance sheet and therefore need to be fixed before the
template calculations will be accurate.
Note: Only the Income and Expenses account groups (excluding interest, taxation, dividends & other income and
expenses) are integrated on an individual account basis by default. If you therefore add additional accounts to these
account groups or change any of the default account numbers in these sections, you will need to manually make the same
changes to the appropriate items on the IS sheet.
Note: If you need to add a line to any section of the income statement or balance sheet, insert a new row in the
appropriate location, copy the formulas in all columns from one of the existing rows and change the key in column A to the
appropriate full account number. The calculations will be updated automatically and the error on the TB sheet in the Status
column should be resolved.
Control Accounts
Control accounts are accounts that have a specific purpose in the context of the template design and can therefore not be
edited or selected for the allocation of transactions. These accounts are automatically calculated based on the transactions
that are recorded on the Income & Expenses sheets and are included individually on the balance sheet and cash flow
statement. This is also why all the control accounts are included in a separate section below the other accounts on the TB
sheet.
Note: Control accounts include all the individual bank accounts, an inventory account, a trade debtors account, trade
creditors account and a retained earnings account. These accounts are integral to the proper functioning of the template
and should not be amended in any way (aside from adding additional bank accounts if required).
Opening Balances
Page 9 of 50
Instructions
If you are using the template for an existing business, you will need to enter the appropriate balance sheet opening
balances as at the end of the year before the first financial year that is included in the template (as specified on the Setup
sheet) in column C on the TB sheet. The template can only be used for full financial years and opening balances can
therefore only be entered for balance sheet accounts.
If you switch to our accounting template during the financial year, you need to enter the balance sheet accounts opening
balances for the previous financial year as the template opening balances in column C on the TB sheet and record all
transactions from the first day of the financial year on the Income and Expenses sheets.
Note: The balance sheet opening balances should be based on a trial balance produced in your previous accounting
solution as at the end of the financial year immediately before the first financial year that is included in the template. After
entering all the opening balances, you also need to make sure that the total at the bottom of the TB sheet is nil otherwise
your balance sheet will not balance.
Note: The opening balances of all asset accounts should be entered as positive values and the opening balances of all
liability & equity accounts should be entered as negative values. This should be exactly as they are reflected on the trial
balance in your previous accounting software.
All the opening balances that need to be entered on the TB sheet contain yellow cell backgrounds. The opening balances
for the individual bank balances, the inventory line, the trade debtors line and the trade creditors line in the Control
Accounts section however contain light blue cell backgrounds. This is because the subsequent movement in these
opening balances will have an effect on the cash flow during the first financial period that is included in the template. These
opening balances should therefore be entered on the Stock, Income or Expenses sheets and will be calculated
automatically on the TB sheet based on the formulas which have been included in column C.
Note: The total of all opening balances in column C on the TB sheet should still be nil and the formulas in the cells with
light blue column headings in the control accounts section should not be amended or replaced by values otherwise the
template calculations will be inaccurate. If the total in column C is not nil, it is not as a result of any formula but as a result
of opening balances not being entered correctly. DO NOT change any of the formulas in the cells with light blue cell
backgrounds!
The opening balance for each of the bank codes that are included on the Setup sheet should be entered on the Income
sheet as positive values. The month-end date of the month that precedes the first financial year which is specified on the
Setup sheet should be entered in the invoice/document date and payment date columns. This approach will ensure that
the opening bank balances are calculated correctly on the TB sheet.
Example: If the opening B1 bank balance is $5,000 and the first day of the financial year is 1 March, an opening bank
balance transaction needs to be recorded on the Income sheet with an inclusive invoice amount of $5,000, a document
date & payment date of 28 February, an exempt sales tax code (with a zero sales tax percentage), a bank code of B1 and
a payment amount of $5,000. This balance will then be included automatically as the opening B1 bank balance in column
C on the TB sheet.
The opening stock quantities and costs should be entered in the Startup columns on the Stock sheet. The opening stock
valuation is automatically calculated based on the quantities and costs that are entered for each individual stock code and
included on the TB sheet as the inventory control account opening balance.
The opening trade debtors balance should also be entered on the Income sheet. You can enter the total in one row or
enter the outstanding invoices individually (we recommend the latter because all outstanding invoices may not be paid on
the same date). The invoice date that is entered in column B should be before the first day of the first financial year that is
specified on the Setup sheet and the payment date should be the actual payment date (which will obviously be after the
first day of the first financial year that is included in the template because the invoice is outstanding at the beginning of the
first financial year).
Page 10 of 50
Instructions
Example: If the year-end is February and the opening trade debtor balance at 28 February of the year before the first
financial year which is included in the template consists of two invoices, enter the actual invoice dates in the Invoice Date
column (invoices should be dated on or before 28 February). The payment date can be left blank until the invoices are paid
and the actual date when the payment is received should be entered in the Payment Date column with the actual payment
amount in the Payment Amount column. The opening trade debtor balance will then automatically be calculated and
included on the TB sheet.
The opening trade creditors balance should be entered on the Expenses sheet (as a positive amount). You can enter the
total in one row or enter the outstanding invoices individually (we recommend the latter because all outstanding invoices
may not be paid on the same date and will also probably be paid to different suppliers). The document date should be
before the first day of the first financial year that is included in the template (as per the Setup sheet) and the payment date
should be left blank until the appropriate supplier has been paid.
Example: If the opening trade creditor balance at 1 March consists of two invoices, enter the actual invoice dates in the
Document Date column (the invoices should be dated on or before 28 February). The payment date column can be left
blank until the invoices are paid and the actual date when the invoices are paid then needs to be entered in the Payment
Date column. The opening trade creditors balance will then be calculated automatically and included on the TB sheet as a
negative amount because trade creditors are liabilities.
Note: If the opening balances for trade debtors or trade creditors relate to stock items, the stock codes need to be left out
because the opening stock quantities on hand are already included on the Stock sheet and including stock quantities with
your trade debtors or trade creditors opening balances would change these start-up quantities.
Note: When recording opening balances for bank accounts, trade debtors and trade creditors on the Income and Expenses
sheets, we recommend assigning these entries to a balance sheet account and using a sales tax code which does not
result in the calculation of sales tax (code E in the standard template). Any balance sheet account can be used but we
recommend using account BS-0799 which is the Cash Transfer Control account.
Trial Balance
The TB sheet effectively combines the chart of accounts and trial balance features. The trial balance consists of the
opening balances at the start of the reporting period (which is specified on the Setup sheet), the account movement for the
appropriate financial year and the closing balance at the end of the selected monthly period during the current financial
year. All of these trial balance calculations are automatically calculated and included in columns E to G on the TB sheet.
Note: The closing balances in column G are calculated based on the monthly period which is selected at the top of the
sheet in the cell with the yellow cell background. If the reporting year on the Setup sheet is amended in such a way that the
selected monthly period does not fall within the current financial year, this cell will be highlighted in red. You then need to
select a valid month in order for the red highlighting to be removed.
The monthly periods that are available for selection are the same as the monthly periods that are included on the monthly
income statement, cash flow statement and balance sheet. You are therefore able to view a trial balance for any of the
monthly periods in the current financial year by simply selecting the appropriate monthly period from the list box at the top
of column G.
A trail balance for any previous financial period which has been included in the template can also be viewed by simply
changing the reporting year on the Setup sheet and then selecting the appropriate monthly period from the list box at the
top of column G on the TB sheet.
Adding new bank accounts
The template includes five default bank codes but you can add an unlimited number of additional bank codes (or accounts)
by adding the appropriate bank account codes & descriptions to the Setup sheet. The new bank codes then also need to
be added manually to the control accounts section on the TB sheet.
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Instructions
This is actually a very simple exercise - simply insert the required number of new rows anywhere between the existing
bank accounts in the control account section and copy the entire row from one of the existing bank account rows. All the
formulas are automatically calculated & updated with the correct bank codes.
Note: Also remember that opening balances for all bank accounts need to be recorded on the Income sheet. If you add
additional bank accounts to the TB sheet, the opening balances also need to be added to the Income sheet.
Customer Accounts
The Customers sheet can be used to create unique customer codes and enter the billing details of all customers. The
customer codes created on the Customers sheet are included in a list box in the Customer column on the Income sheet.
We recommend using an abbreviated version of the customer name when creating customer codes because you will not
need to refer back to the Customers sheet in order to select the appropriate customer code when recording transactions
on the Income sheet.
Note: All the columns on the Customers sheet have been included in an Excel table. This feature is extremely useful when
entering data in a table format because the formulas that are included in the calculated columns (the columns with light
blue column headings) are automatically copied when new rows are inserted into the table or when data is entered into the
first blank row below the table. You can therefore add a new customer code by simply entering a new code in column A -
the table will then automatically extend to include the new customer code.
The other user input columns on the Customers sheet consist of the billing name, billing address and the customer's sales
tax reference number. These details are included on the invoice and customer statement by linking the customer details on
the Customers sheet to the customer code which is selected on the Income sheet.
Note: You are required to select a customer code when recording all income transactions. If you therefore have a lot of
cash customers, it may be pointless to create individual customer codes for all of these customers. We therefore
recommend setting up a default customer code that can be used when entering any transaction where a customer code is
not required. The customer information that is entered for this code on the Customers sheet will however be included on
the tax invoices for the transactions that are allocated to the default customer code. The customer information should
therefore be left blank if you don't want to include it on the tax invoice or you can include a general description like "Cash"
instead.
Note: The Income sheet contains invoices and all other receipt transactions. For some of these transactions there may not
be a specific customer and you may therefore want to create a default customer code that can be used to record all
transactions where an individual customer code may not be applicable.
The Customers sheet also contains a number of calculated columns that contain formulas which are automatically copied
when adding new customer codes to the sheet. These columns contain a calculation of the outstanding balances of
customers which can be calculated for any user defined date by simply entering the appropriate balance date at the top of
the sheet.
The sheet also contains an ageing of the outstanding customer balances. The ageing on this sheet is calculated based on
calendar months and also based on the balance date that is specified. If no balance date is specified, the current system
date is used.
Stock
The Stock sheet can be used to create unique stock codes for all stock items and to enter a description and unit of
measure (UOM) for each stock item. The stock codes that are created on the Stock sheet are included in a list box in the
Stock Code columns on the Income and Expenses sheets. We recommend using alpha numeric stock codes which start
with a letter followed by at least four numbers for all stock codes.
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Instructions
Note: All the columns on the Stock sheet have been included in an Excel table. This feature is extremely useful when
entering data in a table format because the formulas that are included in the calculated columns (the columns with light
blue column headings) are automatically copied when new rows are inserted into the table or when data is entered into the
first blank row below the table. You can therefore add a new stock code by simply entering a new code in column A - the
table will then automatically extend to include the new stock code.
The unit of measure (UOM) column can be used to specify the unit of measure for each stock item. Examples are units,
kilograms, litres, bags, drums, etc. It is important that the quantity and selling price or inclusive invoice value on the Income
and Expenses sheets are entered in the same unit of measure otherwise the cost calculations may not be accurate.
You are also required to specify the cost of sales account for each stock item. The account that is specified in this column
determines into which cost of sales line the stock item will be included on the income statement. Only accounts that are
included in the IS-02 account group for cost of sales should be included in this column. If you include any account which is
not part of this account group, the appropriate cost of sales account entries will be reallocated to the IS-0299 direct costs
account.
Note: The IS-0299 direct costs account is an important default account for inventory entries and should therefore not be
removed from the chart of accounts on the TB sheet even if you do not need to record any direct costs as part of cost of
sales.
If you are using the template for an existing business, you also need to include the opening stock quantities and costs on
for all stock items on the Stock sheet in columns E and F. These quantities and costs are used to calculate the opening
stock valuation in column J which is included on the trial balance as the template opening balance for the inventory control
account.
Note: The opening stock balances which need to be included in the Startup columns on the Stock sheet should be the
quantities and costs as at the end of the financial year before the first financial year that is included in the template. When
you select the first financial year on the Setup sheet, the first day of the appropriate financial year is displayed next to the
year selection - the opening stock quantities and costs should basically be the balances that are on hand at the start of
that day.
Inventory Valuation & Movement
The Stock sheet also includes a number of calculated columns with light blue column headings. The first three calculated
columns reflect the inventory valuation, unit cost and quantity on hand. All three of these columns are based on the "To
Date" which is specified at the top of the sheet. You can therefore determine the inventory valuation at the end of any user
defined date by entering the appropriate date in the "To Date" input cell at the top of the sheet.
All the calculated columns after the Startup Valuation column represent inventory movements for the user defined period
which is defined by entering the appropriate "From Date" and "To Date" at the top of the sheet. These columns are
reflected both in quantity and value terms and also include calculations of gross profit amounts and percentages. You can
therefore display inventory movements for any user defined date range by specifying the appropriate date range at the top
of the Stock sheet.
Note: We have also included a GP sheet in the template which makes it easy to analyse monthly gross profit percentages
and stock quantities on hand for any individual stock code.
Recording Sales & Purchases
All stock sales & purchases should be recorded on the Income and Expenses sheets by selecting the appropriate stock
code from the list boxes in the Stock Code columns. These sheets also accommodate entering non-stock related income
and expenses - the difference between a stock and non-stock entry is simply that a stock code needs to be selected when
entering stock related entries and the stock code needs to be left blank if the transaction does not relate to inventory.
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Instructions
All the stock codes that are added to the Stock sheet will be available for selection. If a stock code that is included in the
Stock Code columns is not a valid stock code, an error will be reflected in the Error Code column. Only valid codes will be
included in the list boxes but invalid codes may be encountered when copying data into the Stock Code columns or
deleting or changing stock codes on the Stock sheet which were previously used for the allocation of transactions on the
Income or Expenses sheets.
All stock sales need to be recorded on the Income sheet by selecting the appropriate stock code and entering a quantity
and selling price per unit. The selling prices can be entered inclusive or exclusive of sales tax depending on the selection
in the Sales Tax section on the Setup sheet. All sales transactions need to be allocated to the appropriate sales account
which forms part of the IS-10 account group. The cost of sales account that will be used for transaction is determined by
the account which is specified for the appropriate stock item on the Stock sheet.
All stock purchases need to be recorded on the Expenses sheet by selecting the appropriate stock code and entering a
quantity and tax inclusive invoice amount. Note that the method of entering purchases therefore differs from the method of
entering sales in that you do not enter a purchase price but the full tax inclusive value on the supplier's invoice. This
method is used to ensure that supplier invoices agree to payment amounts.
Recording Stock Adjustments
Stock adjustments as a result of a stock takes or other reasons need to be entered on the Income sheet by entering the
quantities and entering a zero selling price. This will ensure that the stock adjustments are removed from the stock on
hand and allocated to cost of sales on the income statement which results in the stock effectively being written off. A
general customer code can be used for these transactions and they can be allocated to the appropriate sales accounts
because the sales values will be nil.
Recording Direct Costs
The template also accommodates recording direct costs with the option of including these costs in the inventory valuation
& cost of sales or including them as a separate line item under cost of sales in the income statement. An example of direct
costs which you may want to include in inventory valuations and cost of sales is transport costs.
Direct costs need to be added to the Expenses sheet as separate line items and the treatment of these costs is determined
by whether a stock code is selected or not. If you select a stock code, the costs that are entered will be added to your
inventory costs and included in cost of sales. It is important to note that a zero quantity needs to be entered because the
increase in stock quantities will have been recorded when the initial stock purchase transaction was recorded. If a quantity
is entered, the stock on hand will therefore be inflated. The inclusive amount of the direct costs which are entered is
however added to the stock valuation and will therefore also form part of any subsequent cost of sales transactions.
If direct costs should not be added to stock items, you do not need to select a stock code and the transaction can simply
be allocated to the IS-0299 direct cost control account which is included as a separate line item under cost of sales on the
income statement. The direct costs will therefore not form part of the cost of sales and margin calculations of individual
stock items but will still form part of the overall cost of sales and margin calculations as per the income statement.
Recording of credit notes & supplier claims
Credit notes and supplier claims are recorded in exactly the same way as stock sales or purchases but the values that are
entered in the selling price or tax inclusive amount columns on the Income or Expenses sheets should be negative values.
Stock codes should be selected if the credit note or claim has a stock effect. If the credit note or claim is price related and
therefore does not have a stock effect, no stock code should be selected, the quantity entered should be zero and you
simply need to select the appropriate account for allocation of the transaction. These non-stock entries are therefore
entered in the same way as any non-stock transaction.
Average Costing
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Instructions
The templates automatically calculates the unit costs of all stock on hand and cost of sales values based on an average
costing system. When stock purchases are recorded, the stock items purchased are automatically added to the inventory
valuation based on the actual purchase prices. When stock sales are recorded, the calculation is a bit more complicated.
For stock sales purposes, stock items are valued based on the quantity on hand at the time of the sale and the cost of
sales value of all previous sales. What this effectively comes down to is that the average cost for stock valuation purposes
is not calculated based on all previous stock purchases and sales but based only on the stock quantity on hand at the time
of the next stock purchase. This method of valuation is therefore a much closer reflection of actual costs than valuing stock
on overall average costs would be!
Note: The average cost calculation as described above is the only method of valuation which is practical for the purpose of
this template and cannot be changed to any other basis. We will not be able to customize the template for any other basis
like first-in-first-out (FIFO) or last-in-first-out (LIFO) which requires the use of a database in order to ensure accurate
calculations. You will however find that our average cost approach is a quite accurate approach especially for businesses
which have a reasonably high rate of stock turnover.
Example: You purchase 1,000 units of a stock item at $1 per item, sell 800 units and then purchase another 1,000 units at
$2 per unit. Some users' understanding of average cost would be that stock and cost of sales would be valued at $1.50 per
unit ($3,000 divided by 2,000 units). This is however not the case. The cost of sales of the 800 units sold would be $800
which means that the value of the remaining stock would be $200. When the subsequent purchase of another 1,000 units
occurs, the stock on hand would be 1,200 units at a cost of $2,200 which means that the average cost per unit would be
$1.83. The average cost valuation is therefore only affected by previous purchases to the extent of the stock that is still on
hand.
Inaccuracies
If you enter a sales transaction on the Income sheet and there is not sufficient stock on hand based on the quantity that
you have entered, the cost of sales amount may be inaccurate. This is especially the case where there is no stock on hand
for a particular stock item and a sale is recorded because the cost of sales amount will be nil as a result of zero stock on
hand.
These types of inaccuracies are usually the result of previous transactions that have been recorded incorrectly or not
recorded at all for the affected stock item. There is no quick fix in such circumstances - you need to review all previous
transactions for the particular stock code and fix the entries or omissions which resulted in the inaccurate calculation of
stock on hand.
Note: We have included an error code on the Income sheet which highlights transactions that are recorded with insufficient
stock on hand. If you therefore see error code E6 in the Error Code column, it indicates that your stock on hand is
inaccurate and needs to be investigated.
Recording Transactions - Income
All income and other receipt transactions should be recorded on the Income sheet. User input is only required in the
columns with yellow column headings. All the columns with light blue column headings contain formulas which are
automatically copied when adding new transactions to the sheet.
Note: All the columns on the Income sheet have been included in an Excel table. This feature is extremely 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 inserted into the table or when data is entered into the first
blank row below the table. You can therefore enter a new transaction by simply entering an invoice number in column A -
the table will then automatically extend to include the new transaction.
The Income sheet contains the following user input columns:
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Instructions
Invoice Number - enter your invoice number or the appropriate transaction reference for cash receipt transactions. This
column should always contain a value - if you do not issue document numbers for all your invoices & receipts, any unique
transaction reference can be used.
Invoice Date - enter the date of the tax invoice or the bank statement date for cash receipt transactions. We've added data
validation to this column to ensure that only valid dates are entered - you therefore need to ensure that you enter dates in
accordance with the regional date settings that are specified in the System Control Panel.
Customer - select a customer code from the drop-down list in this column. All customer codes that have been added to
the Customers sheet will be available for selection. A generic customer code can be added to the Customers sheet and
used for all transactions where a customer code is not applicable.
Stock Code - select a stock code from the drop-down list in this column if the transaction that you are recording is stock
related. If the transaction is not stock related, leave the cell blank. All stock codes that have been added to the Stock sheet
will be available for selection.
Description - enter a transaction description in this column.
Quantity - if the transaction is stock related, enter the stock quantity in this column. If the transaction is not stock related,
enter a nil value.
Selling Price - if the transaction is stock related enter the selling price in this column. Stock transactions can be entered
inclusive or exclusive of sales tax depending on your selection in the Sales Tax section of the Setup sheet. If your
transaction is not stock related, enter the inclusive or exclusive invoice amount in this column.
Tax 1 Code - this column contains a drop-down list which enables you to select one of the tax codes on to the Setup sheet
and should be used for national or federal sales tax. The sales tax percentage applied to the transaction is determined
based on the selected sales tax code. If your business is not registered for sales tax purposes, all transactions should be
recorded by using a sales tax code with a zero percentage. If no sales tax code is selected, no sales tax will be calculated.
Tax 2 Code - this column contains a drop-down list which enables you to select one of the tax codes on to the Setup sheet
and should be used for state sales tax. The sales tax percentage applied to the transaction is determined based on the
selected sales tax code. If your business is not registered for sales tax purposes, all transactions should be recorded by
using a sales tax code with a zero percentage. If no sales tax code is selected, no sales tax will be calculated.
Bank Code - this column contains a drop-down list which includes all the bank codes that have been added to the Setup
sheet. Select the bank code of the bank account that will be affected by the particular transaction. Note that it is imperative
that a bank code is assigned to each transaction.
Account Number - the drop-down list in this column contains all the account codes (and descriptions) that have been
created on the TB sheet. You therefore need to create the appropriate account on the TB sheet before transactions can be
allocated to the account. An account number should be selected for every transaction otherwise template imbalances may
be encountered.
Payment Amount - when a customer pays an invoice, the payment amount should be entered into this column.
Payment Date - enter the actual payment date in this column. The date that should be entered in this column should be
the date on which the payment was received from the customer. The payment date and payment amount should be left
blank if payment has not been received from the customer - the outstanding amount will then be included in trade debtors.
Note that the payment date should always be greater than or equal to the invoice date.
The Income sheet contains the following calculated columns:

Inclusive Amount - this column is based on the quantities and selling prices that are entered by the user. The inclusive
amount is calculated based on the selection on the Setup sheet in the Sales Tax section.
Exclusive Amount - the formula in this column deducts the sales tax amount from the inclusive invoice amount in order to
calculate an amount excluding sales tax. For accounting purposes, the exclusive amounts are allocated to the income
statement, the sales tax amounts are allocated to the sales tax control account and the inclusive amounts are allocated to
trade debtors or bank (depending on whether the amounts have been paid or not).
Sales Tax 1 Amount - this column contains a formula which calculates the national or federal sales tax amount based on
the tax code selected in column H. Sales tax will only be calculated if a sales tax code has been selected in column H. The
calculation is based on the sales tax percentages specified on the Setup sheet.
Sales Tax 1 Amount - this column contains a formula which calculates the state sales tax amount based on the tax code
selected in column I. Sales tax will only be calculated if a sales tax code has been selected in column I. The calculation is
based on the sales tax percentages specified on the Setup sheet.
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Instructions
Outstanding Balance - if an invoice has not been paid in full, the outstanding balance will be reflected in this column. The
outstanding balance is determined based on the balance date that is entered in cell R2 at the top of the sheet. If the
balance date contains no value, the current system date will be used to determine which invoices are currently
outstanding. You can therefore use the balance date input cell to calculate the trade debtors balance as at any user
defined date.
Transaction Type - this column will reflect "STOCK" if the transaction is stock related and nothing if the transaction is not
stock related.
Previous Quantity - if the transaction is stock related, the quantity on hand before taking the quantity entered for the
transaction into account will be reflected in this column. Note that if there is no stock on hand and a sale is recorded, the
cost of sales value would be nil because there cannot be cost related to no stock on hand. An insufficient stock error will
then be reflected in the Error Code column.
Previous Cost - if the transaction is stock related, the unit cost before taking the transaction into account will be included
in this column.
Transaction Cost - if the transaction is stock related, the cost of the transaction will be included in this column. The cost is
calculated by multiplying the quantity entered and the previous cost on hand.
Cost of Sales Amount - if the transaction is stock related, the cost of sales amount will be included in this column. The
cost of sales amount will be the same as the transaction cost for all stock related transactions.
Gross Profit Amount - if the transaction is stock related, the gross profit amount is calculated by deducting the cost of
sales amount from the tax exclusive sales amount.
Gross Profit Percentage - the gross profit percentage is calculated by dividing the gross profit amount by the tax
exclusive sales amount. If the transaction is not stock related, a zero percentage will be reflected.
Cost of Sales Account - the cost of sales account is determined based on the account linked to each stock code on the
Stock sheet. If no account has been linked to a particular stock code or an account has been linked which is not part of the
cost of sales (IS-02) account group, the direct costs control account (IS-0299) will be included instead of the user input on
the Stock sheet.
Unique Invoice Date - this column converts the invoice date in column B to a unique invoice date which uses the row
number
Unique as
INVa time
- theofformula
day. in this column is used to determine whether the invoice number is unique. Invoices can be
entered in multiple lines and this formula is used to prevent the duplication of the calculation of outstanding invoice
balances.
ST1 - the formula in this column is used to identify the appropriate list of outstanding invoices which needs to be included
on the customer statement.
Error Code - this column will contain an error code if there is a problem with the input in any of the previous columns. All
the error codes that are displayed in this column should therefore be corrected in order to ensure that all the template
calculations remain accurate. Refer to the Error Codes section of these instructions for more information about the reasons
for an error code and how to resolve it.
Note: The drop-down lists in the Account Number column contains both the account number and description but only the
account number should be selected when allocating transactions. Excel doesn't actually allow the inclusion of two columns
in a drop-down list but we have implemented a work around to provide the account description together with the account
number in the drop-down list. The disadvantage of this work around is that you will not be able to enter account numbers -
you either need to select the account number from the list or copy a similar transaction that you have entered before. The
column will also contain an error indicator which refers to a data validation error - this is to be expected because of the
work around that we implemented and can safely be ignored.
All the transactions that are entered on the Income sheet are automatically updated to the other sheets in this template. It
is therefore imperative that all transactions are entered according to the guidance that is outlined in this section of the
instructions otherwise it could result in imbalances in the template.
Filtering Transactions
All the column headings on this sheet contain a filter selection arrow - this feature indicates that the Filter feature has been
activated for the data on this sheet. This Excel feature is very useful when you need to filter the data that forms part of a
table based on the filter criteria that are available after clicking the selection arrow.
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Instructions
Example: If you only want to display the income transactions for a particular invoice or payment month, you can filter the
data based on the Invoice Date or Payment Date column by selecting the appropriate date filter from the filter menu that is
displayed after clicking the selection arrow. After reviewing the filtered data, simply select the "Clear filter" option in the
filtered column in order to remove the filter and to display all the transactions on the worksheet.
Note that the visible row numbers are typically displayed in blue when a filter has been applied to the sheet. New
transactions should not be entered while a filter is active on the sheet - if you see blue row numbers, all filters need to be
removed before data is entered in the next blank row otherwise the Excel table may not extend automatically to include the
new transaction.
The sheet also contains totals above the column headings for all columns which contain values and which are suitable for
the calculation of transaction totals. The formulas in these cells result in only the transactions that are visible on the
worksheet being included in the calculation of the appropriate totals. If you therefore print the sheet while a filter is in effect,
the totals above the column headings will be calculated accurately and only include the transactions that have been
printed.
Invoices with Multiple Lines

If an invoice consists of multiple lines, the invoice needs to be entered by repeating the invoice number, invoice date and
customer name in all the rows that relate to the invoice. When the invoice is paid in full, the payment dates need to be
repeated in all the lines that relate to the particular invoice and the payment amounts can be copied from the inclusive
invoice values for each line.
If a multiple line invoice is partially paid, the payment date and payment amount of the first payment can be entered in the
first line that relates to the particular invoice and the other lines need to be left blank. This will ensure that the outstanding
invoice balance contains only the part of the invoice which has not been paid. When the next payment is made, the next
payment amount and date needs to be entered and if there is still an unpaid part, it will be included in the outstanding
balance calculation.
Partial Payments
If a partial payment of an invoice occurs, you should only enter the amount that has actually been paid in the Payment
Amount column and the appropriate payment date in the Payment Date column. The unpaid balance will automatically be
reflected as the outstanding balance for the appropriate invoice.
When the remaining outstanding part of the invoice is subsequently paid, there may not be space to enter the next
payment date and amount if the invoice was included in a single line. You therefore need to insert a new row below the
original invoice row, copy all the data from column A to K from the original invoice line, replace the values in the Quantity
and Selling Price columns with zero values and enter the new payment amount & date into the row that has been added.
These steps need to be repeated if more than two payments are made for any invoice and there aren't sufficient lines to
record payment dates & amounts.
Trade Debtors Balances

If you want to view the list of invoices which make up any of the monthly trade debtor balances on the balance sheet,
simply enter the month-end date as the balance date in cell R2 and then use the filter arrow next to the column heading in
the outstanding balance column to deselect all zero values. All the invoices with balances at the month-end date will then
be displayed.
Note: If the total of all the outstanding invoices does not agree to the balance sheet total, make sure that you have entered
a unique invoice number for all invoices in column A and that there are no blank values in column A. If you leave invoice
numbers blank, it may result in inaccurate outstanding balance calculations if any of the blank entries have not been paid
in full.
Sales Tax
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Instructions
The template provides for two sales tax types namely national or federal sales tax and state sales tax. If you only require
one sales tax type and you would like to delete the second sales tax type, you will be able to do so without affecting the
template formulas by simply deleting the columns for Tax 2 Code (column I) and Sales Tax 2 Amount (column P). All the
appropriate sales tax calculations will then only be based on the one sales tax type.
Note: You cannot delete both sales tax types. If you do not require any sales tax calculations, you can leave the sales tax
1 codes in column H blank and delete the sales tax 2 columns indicated above. No sales tax amounts will then be
calculated.
Note: No new columns should be added between the Inclusive Amount and Exclusive Amount columns otherwise it will
influence some of the sales tax calculations in this template. Also, if you delete the columns for the second sales tax type,
the Sales Tax 1 Amount column may display a validation warning but this can safely be ignored as it has no effect on the
template calculations. If you do not want to see these validation warnings, just keep both sales tax types and just don't
select any tax codes in the second sales tax column.
Tax Invoice
An automated tax invoice has been included on the Invoice sheet. You can create, view or print any tax invoice by simply
copying or entering the appropriate invoice number into cell D16 on the Invoice sheet. All the information that is included
on the tax invoice should be entered on the Setup, Stock, Customers and Income sheets and the tax invoice is
automatically updated based on the invoice number that is specified.
The invoice heading and business details (business name, business address, contact details, tax reference number and
business registration number) are entered on the Setup sheet. The billing name, billing address and customer sales tax
number are populated from the Customers sheet based on the customer code that is entered on the Income sheet for the
specified invoice.
The invoice date is populated based on the data that is entered on the Income sheet for the specified invoice number. If
you need to include multiple items on the same invoice, simply enter the same invoice number in multiple rows on the
Income sheet. All the rows on the Income sheet up to a maximum of 20 rows per invoice will automatically be added to the
Invoice sheet.
If the invoice relates to a stock item, the stock codes are included on the invoice are based on the stock codes that are
selected on the Income sheet. The stock descriptions & units of measure are included based on the contents of the Stock
sheet and the quantities, selling prices and amounts are based on the entries on the Income sheet.
If the invoice does not relate to a stock item, the stock code will be indicated as "NONSTOCK" and the description for the
transaction that has been entered on the Income sheet will be included instead of the stock item's description. The unit of
measure will be blank and a quantity of 1 will be included. The tax exclusive amount of the transaction will be included in
both the selling price and amount columns.
The banking details that are displayed at the bottom of the invoice are entered on the Setup sheet. If you don't want to
include your banking details on your invoices, simply delete this section from the Invoice sheet. You can then also delete
the banking details section from the Setup sheet.
Note: We have included an image placeholder at the top of the Invoice sheet which can be deleted and replaced by your
business logo artwork.
Customer Account Statement
An automated account statement has been included on the Statement sheet. You can create, view, print or reprint any
account statement by simply specifying the appropriate customer code and statement date in cells H16 and H17
respectively. All the other information that is included on the account statement is automatically compiled based on the
data that has been entered on the Setup, Customers and Income sheets.
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Instructions
The business details (business name, registration number, business address, contact details and tax reference number)
are entered on the Setup sheet. The customer billing name and billing address are populated based on the information
entered on the Customers sheet for the customer code that is selected from the list box in cell H16.
The outstanding balance, the balances in the ageing section and the list of outstanding invoices are all automatically
calculated based on the invoice details on the Income sheet, the customer code in cell H16 and the statement date in cell
H17.
If the statement date falls on a month-end date, all the ageing calculations are based on calendar months but if the
statement date falls on any other day of the month, the ageing calculations are based on the day component that forms
part of the statement date.
Example: If the statement date is specified as the 20th of January, all invoices dated between the 21st of December and
the 20th of January are included in the "Current" ageing group, all invoices between the 21st of November and the 20th of
December are included in the "30 Days" ageing group, all invoices between the 21st of October and the 20th of November
are included in the "60 Days" ageing group and so forth.
If the statement date is specified as the 31st of January (a month-end date), the ageing is calculated based on calendar
months. For example, all invoices dated between 1 January and 31 January are included in the "Current" ageing group, all
invoices dated between 1 December and 31 December are included in the "30 Days" ageing group, all invoices between 1
November and 30 November are included in the "60 Days" ageing group and so forth.
It is also important to note that only the invoices that are outstanding on the statement date are included on the customer
account statement. Outstanding invoices are invoices that are dated before the statement date with payment dates that
are after the statement date, invoices with blank payment dates which indicate that the invoices have not yet been paid
and invoices which have been partially paid.
Account statements are therefore compiled on an open item basis - this means that only open or outstanding items are
included on account statements and not all the movements on the customer account during a specific period (opening
balances, invoices and payments that are included separately). We believe that this is the most efficient method of
compiling account statements because it negates the need for complicated account reconciliations.
Note: The Statement sheet includes a maximum of 30 invoices but you can add additional invoices to this sheet by simply
copying the formulas from the last row that contains data (row 60) and pasting them into the appropriate number of
additional rows. We recommend that you select the entire row before copying & pasting the formulas.
Note: Invoices are listed on the account statement in the same order in which the invoices appear on the Income sheet. If
you therefore want to change the order in which invoices are listed, you need to sort the data on the Income sheet
accordingly.
Note: We have included an image placeholder at the top of the Statement sheet which can be deleted and replaced by
your business logo artwork.
Recording Transactions - Expenses
All expenses and other payment transactions should be recorded on the Expenses sheet. We also recommend entering all
journal entries on this sheet. User input is only required in the columns with yellow column headings. All the columns with
light blue column headings contain formulas which are automatically copied when adding new transactions to the sheet.
Note: All the columns on the Expenses sheet have been included in an Excel table. This feature is extremely 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 inserted into the table or when data is entered into the first
blank row below the table. You can therefore enter a new transaction by simply entering a document date in column A - the
table will then automatically extend to include the new transaction.
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Instructions
The Expenses sheet contains the following user input columns:

Document Date - enter the supplier invoice date, date of other supporting document or the bank statement date. We've
added data validation to this column to ensure that only valid dates are entered - you therefore need to ensure that you
enter dates in accordance with the regional date settings that are specified in the System Control Panel.
Supplier - enter the name of the supplier. If the Auto Complete feature is enabled, you should be able to accept its
suggestion of the supplier name after entering only a few characters. Note that it is important to enter supplier names
accurately if you want to use the Filter feature to display only the transactions for a specific supplier.
Stock Code - select a stock code from the drop-down list in this column if the transaction that you are recording is stock
related. If the transaction is not stock related, leave the cell blank. All stock codes that have been added to the Stock sheet
will be available for selection.
Reference - enter a reference for the transaction in this column. For example, this could be the supplier invoice number or
a more general reference like "Debit Order" or "Bank Statement".
Description - enter a transaction description in this column.
Quantity - if the transaction is stock related, enter the stock quantity in this column. If the transaction is not stock related,
enter a nil value.
Tax Inclusive Amount - enter the transaction amount inclusive of sales tax. Expenses and payments should be entered
as positive amounts but if you have an income or receipt type transaction that is of an expense or payment nature, the
transaction can be entered as a negative value. For example, entering a supplier claim that relates to a supplier invoice
which has been recorded previously. In most instances, income and receipt transactions should however be recorded on
the Income sheet.
Tax 1 Code - this column contains a drop-down list which enables you to select one of the tax codes added to the Setup
sheet and relates to national or federal sales tax. The sales tax percentage which is applied to the transaction is
determined based on the sales tax code selected. If your business is not registered for sales tax purposes, all transactions
should be recorded by using a sales tax code which has a zero percentage on the Setup sheet. If no sales tax code is
selected, no sales tax will be calculated.
Tax 2 Code - this column contains a drop-down list which enables you to select one of the tax codes added to the Setup
sheet and relates to state sales tax. The sales tax percentage which is applied to the transaction is determined based on
the sales tax code selected. If your business is not registered for sales tax purposes, all transactions should be recorded
by using a sales tax code which has a zero percentage on the Setup sheet. If no sales tax code is selected, no sales tax
will be calculated.
Bank Code - this column contains a drop-down list which includes all the bank codes that have been added to the Setup
sheet. Select the bank code of the bank account that will be affected by the particular transaction. Note that it is imperative
that a bank code is assigned to each transaction.
Account Number - the drop-down list in this column contains all the account codes that have been created on the TB
sheet. You therefore need to create the appropriate account on the TB sheet before transactions can be allocated to the
account. An account number should be selected for every transaction otherwise template imbalances may be
encountered. If the transaction is stock related, the account number which has been selected will be replaced by the
inventory control account (BS-STG) to ensure that all stock purchases are added to the balance sheet control account for
inventory. It therefore does not matter which account is selected for stock related transactions because it will be replaced
anyway but we recommend using the direct costs control account (IS-0299).
Payment Date - enter the actual payment date in this column. The date that should be entered in this column should be
the date on which the payment is made to the supplier. The payment date should be left blank if payment has not been
made to the supplier - the outstanding balance will then be included in trade creditors. Note that the payment date should
always be greater than or equal to the document date.
The Expenses sheet contains the following calculated columns:

Expense Type - if the transaction is stock related and the stock code that has been selected is matched to the stock
codes on the Stock sheet, the column will contain "STOCK". If the transaction is not stock related or if the stock code which
has been selected cannot be matched to the Stock sheet, the column will contain no value.
Outstanding Balance - if an expense has not been paid in full, the outstanding balance will be reflected in this column.
The outstanding balance is determined based on the balance date that is entered in cell N2 at the top of the sheet. If the
balance date contains no value, the current system date will be used to determine which invoices are currently
outstanding. You can therefore use the balance date input cell to calculate the trade creditors balance as at any user
defined date.
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Instructions
Exclusive Amount - the formula in this column deducts the sales tax amount from the tax inclusive amount in order to
calculate an amount excluding sales tax. For accounting purposes, the exclusive amounts are allocated to the income
statement, the sales tax amounts are allocated to the sales tax control accounts and the inclusive amounts are allocated to
trade creditors or bank (depending on whether the amounts have been paid or not).
Sales Tax 1 Amount - this column contains a formula which calculates the national or federal sales tax amounts based on
the tax codes selected in column H. Sales tax will only be calculated if a sales tax code has been selected in column H.
The calculation is based on the sales tax percentages specified on the Setup sheet.
Sales Tax 2 Amount - this column contains a formula which calculates the state sales tax amounts based on the tax
codes selected in column I. Sales tax will only be calculated if a sales tax code has been selected in column I. The
calculation is based on the sales tax percentages specified on the Setup sheet.
Inclusive Amount - this column is based on the tax inclusive amount which the user enters in column G.
Price Per Unit - if the transaction is stock related, the tax exclusive purchase price per unit will be included in this column.
If the transaction is not stock related, a nil value will be displayed.
Final Account - if the transaction is stock related, the account number selected will be replaced by the inventory control
account (BS-STG) to ensure that all stock purchases are added to the balance sheet control account for inventory. It
therefore does not matter which account is selected for stock related transactions because it will be replaced anyway but
we recommend using the direct costs control account (IS-0299). If the transaction is not stock related, the account
selection will be used.
Error Code - this column will contain an error code if there is a problem with the input in any of the previous columns. All
the error codes that are displayed in this column should therefore be corrected in order to ensure that all the template
calculations remain accurate. Refer to the Error Codes section of these instructions for more information about the reasons
for an error code and how to resolve it.
Note: The drop-down lists in the Account Number column contains both the account number and description but only the
account number should be selected when allocating transactions. Excel doesn't actually allow the inclusion of two columns
in a drop-down list but we have implemented a work around to provide the account description together with the account
number in the drop-down list. The disadvantage of this work around is that you will not be able to enter account numbers -
you either need to select the account number from the list or copy a similar transaction that you have entered before. The
column will also contain an error indicator which refers to a data validation error - this is to be expected because of the
work around that we implemented and can safely be ignored.
All the transactions that are entered on the Expenses sheet are automatically updated to the other sheets in this template.
It is therefore imperative that all transactions are entered according to the guidance that is outlined in this section of the
instructions otherwise it could result in imbalances in the template.
Filtering Transactions
All the column headings on this sheet contain a filter selection arrow - this feature indicates that the Filter feature has been
activated for the data on this sheet. This Excel feature is very useful when you need to filter the data that forms part of a
table based on the filter criteria that are available after clicking the selection arrow.
Example: If you only want to display the transactions for a particular invoice or payment month, you can filter the data
based on the Document Date or Payment Date column by selecting the appropriate date filter from the filter menu that is
displayed after clicking the selection arrow. After reviewing the filtered data, simply select the "Clear filter" option in the
filtered column in order to remove the filter and to display all the transactions on the worksheet.
Note that the visible row numbers are typically displayed in blue when a filter has been applied to the sheet. New
transactions should not be entered while a filter is active on the sheet - if you see blue row numbers, all filters need to be
removed before data is entered in the next blank row otherwise the Excel table may not extend automatically to include the
new transaction.
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Instructions
The sheet also contains totals above the column headings for all columns which contain values and which are suitable for
the calculation of transaction totals. The formulas in these cells result in only the transactions that are visible on the
worksheet being included in the calculation of the appropriate totals. If you therefore print the sheet while a filter is in effect,
the totals above the column headings will be calculated accurately and only include the transactions that have been
printed.
Trade Creditors Balances
If you want to view the list of expenses which make up any of the monthly trade creditor balances on the balance sheet,
simply enter the appropriate month-end date as the balance date in cell N2 and then use the filter arrow next to the column
heading in the outstanding balance column to deselect all zero values. All the expenses with balances at the appropriate
month-end date will then be displayed.
Sales Tax
The template provides for two sales tax types namely national or federal sales tax and state sales tax. If you only require
one sales tax type and you would like to delete the second sales tax type, you will be able to do so without affecting the
template formulas by simply deleting the columns for Tax 2 Code (column I) and Sales Tax 2 Amount (column Q). All the
appropriate sales tax calculations will then only be based on the one sales tax type.
1 codes in column H blank and delete the sales tax 2 columns indicated above. No sales tax amounts will then be
calculated.
Note: No new columns should be added between the Inclusive Amount and Exclusive Amount columns otherwise it will
influence some of the sales tax calculations in this template. Also, if you delete the columns for the second sales tax type,
the Sales Tax 1 Amount column may display a validation warning but this can safely be ignored as it has no effect on the
template calculations. If you do not want to see these validation warnings, just keep both sales tax types and just don't
select any tax codes in the second sales tax column.
Recording Transactions - Transfers between Bank Accounts
When funds are transferred between two bank accounts, both the deposit and withdrawal entries need to be recorded. We
recommend recording both entries on the Expenses sheet. The deposit entry should be recorded by selecting the bank
account into which the funds are transferred and entering the transfer amount as a negative value. The withdrawal entry
should be recorded by selecting the bank account from which the funds are transferred and entering a positive amount.
All transfers between bank accounts should be allocated to the Cash Transfer Control account (BS-0799). By using this
default account for all bank transfers, you can easily determine when only one of the entries (deposit or withdrawal) has
been recorded.
Note: You can check whether the balance of the Cash Transfer Control account is nil by selecting the appropriate month
end from the list box in cell G3 on the TB sheet and checking whether the balance for account BS-0799 is nil. If the
balance is not nil, the transactions for the appropriate period should be reviewed in order to determine why the allocations
to the Cash Transfer Control account do not result in a nil balance.
Note: Petty cash transactions should be treated in the same way as transactions that are processed through a bank
account. This means that petty cash reimbursements should also be treated as transfers between bank accounts and
allocated to the Cash Transfer Control account. Both the withdrawal out of the appropriate bank account and the "deposit"
of cash into the petty cash account should therefore be recorded.
Recording Transactions - General Ledger Journal Entries
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Instructions
We recommend that all general ledger journal type entries are also recorded on the Expenses sheet. We have basically
created a specific bank code for the recording of journal entries so that these transactions will not have any cash effect
when recorded incorrectly.
The debit part of the journal entry should be recorded as a positive value and the credit part should be recorded as a
negative value on the Expenses sheet. Both entries should be allocated to the JC bank code.
Note: If the debit and credit parts of all journal entries balance to a total of nil, the JC bank account should always have a
nil balance. If you therefore notice that the JC bank account has a balance, it means that you have made an error in
recording some of your journal entries. You can then filter the Expenses sheet for all transactions with a bank code of JC
and filter the document dates for the appropriate month in order to review all the journal entries for the particular month.
Error Codes
The following error codes may result from inaccurate input on the Income and Expenses sheets and will be displayed in
the Error Code columns. The heading of the affected input column will be highlighted in orange:
■ E1 - this error code means that the payment date on the Income or Expenses sheet is before the invoice or document
date. These errors can be rectified by either amending the appropriate invoice or document date or amending the
appropriate payment date.
■ E2 - this error code means that the account number that has been selected on the Income or Expenses sheet is invalid.
All the accounts that have been entered on the TB sheet will be included in the account number list boxes and the error
can therefore be rectified by simply selecting a valid account number from the list box. New accounts must be created on
the TB sheet before being available for selection.
■ E3 - this error code means that the bank account code that has been selected is invalid. All the bank account codes that
have been created on the Setup sheet will be included in the bank code list boxes and the error can therefore be rectified
by simply selecting a valid bank account code from the list box. New bank account codes must be created on the Setup
sheet before being available for selection.
■ E4 - this error code means that the customer account code that has been selected is invalid. All the customer account
codes that have been created on the Customers sheet will be included in the customer code list boxes and the error can
therefore be rectified by simply selecting a valid customer account code from the list box. New customer account codes
must be created on the Customers sheet before being available for selection.
■ E5 - this error code means that the stock code that has been selected is invalid. All the stock codes that have been
created on the Stock sheet will be included in the stock code list boxes and the error can therefore be rectified by simply
selecting a valid stock code from the list box. New stock codes must be created on the Stock sheet before being available
for selection. Note that stock codes only need to be selected if a stock related transaction is recorded - if a transaction is
not stock related, the Stock Code column should be left blank.
■ E6 - this error code indicates that there is a stock on hand inaccuracy. The error usually occurs when a sale is recorded
and there is insufficient stock on hand in order for the specified quantity to be sold. There is no quick fix for this error - you
need to review all the previous transactions for the affected stock code in order to ascertain why the quantity on hand at
the time of recording the sale is inaccurate. Corrections of previous transactions or additions of omitted transactions should
be made to resolve this error.
Note: Input errors may result in inaccurate template calculations and it is therefore imperative that all errors are resolved
before reviewing the income statement, cash flow statement and balance sheet. These errors may in fact also cause the
balance sheet not to balance.
Income Statement
All the transactions that are recorded on the Income and Expenses sheets are automatically updated to the monthly
income statement which is included on the IS sheet. All of these income statement accounts are reflected exclusive of any
sales tax that may be applicable to the source transactions.
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Instructions
The income statement includes 12 monthly periods, an annual total and a column for comparison to a prior year. The
periods are based on the reporting year which is specified on the Setup sheet. If you want to amend the 12 month
reporting period, you only need to change the reporting year on this sheet in order for the reporting period and all
calculations on the IS sheet to be updated.
The default account integration has been set up in such a way that the turnover, cost of sales, gross profit, operating
expenses, staff costs and depreciation & amortization account groups are the only ones that are integrated on an
individual account basis. All other account groups are integrated on a group basis which means that all the accounts that
are included in the appropriate account groups are included in one total line on the income statement.
Note: You can easily identify a group integration on the income statement, cash flow statement and balance sheet by the
key in column A ending in a "G". If the key does not end in a "G" but includes complete account numbers, it means that the
appropriate lines are integrated on an individual account basis.
When an account group is integrated on an individual account basis and you make changes to the account numbers on
the TB sheet or if you add new accounts to the account group, you basically also need to make the same changes to the
income statement or balance sheet. This means that you either need to update the key in column A if the account numbers
have been changed or that you need to insert additional lines for new accounts, copy the formulas from one of the existing
lines and edit the key in column A to reflect the new account number(s).
The same process can be followed if you want to change the integration of an account group from account group reporting
(with the "G" at the end) to individual account reporting. Additional lines need to be added for all the account numbers that
form part of the appropriate account group, the formulas in all columns on the sheet can be copied from the existing line
and the keys in column A then need to be replaced by the full account numbers. It may also be necessary to update the
appropriate total or profit line which the account groups forms part of.
Note: If you change the reporting of any account group from group to individual reporting and you do not include all
account numbers on the income statement, your balance sheet may not balance. It is therefore imperative that you add all
individual accounts to the appropriate account group if it is set up to report on an individual account basis. Refer to the TB
sheet and more specifically the Status column where all integration errors will be highlighted in red.
Note: If you are not going to use any of the default account groups included on the income statement, we suggest hiding
the rows instead of deleting them. If you do decide to delete the rows containing the affected account groups, you may
have to fix some of the total or profit calculations. After deleting the account groups, you should also delete the individual
accounts on the TB sheet that are linked to the appropriate account groups so that no transactions can be allocated to
these account groups.
Turnover, Cost of Sales & Gross Profit
The default template design includes two turnover, cost of sales, gross profit amount and gross profit percentage lines.
You can add as many additional lines as required by inserting the appropriate number of new rows in each section,
copying one of the existing rows in each section and changing the account numbers in column A.
Note: It is important to insert the new rows in all sections and to insert the new rows in the same place in each section
before copying the formulas because the formulas in the gross profit sections are dependent on the relative positions of
each row and will not be accurate if the new rows are not included in the same relative positions.
Note: The cost of sales and gross profit amount sections include an additional row for the direct costs control account (IS-
0299) which should not be removed. This control account is used as a default account in the cost of sales account
allocation on the Stock sheet and should therefore never be deleted. If you do not use direct costs and you do not want the
account to be visible on the income statement, you can hide the row.
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Instructions
The account numbers in the gross profit sections are only used in order to populate the descriptions on the income
statement. The turnover accounts (IS-01 account group) should therefore be used for all new line items and the cost of
sales account number should be used for the direct costs control account.
The formulas in the turnover section calculate the total of all exclusive values that are allocated to the turnover accounts on
the Income sheet. These calculations are therefore based on the quantities and selling prices that are entered on the
Income sheet and allocated to the appropriate turnover account.
The formulas in the cost of sales section calculate the total of all cost of sales amounts on the Income sheet which are
linked to the appropriate cost of sales account. The cost of sales account links are established on an individual stock code
basis by linking each stock code on the Stock sheet to a cost of sales account. The cost of sales accounts must form part
of the IS-02 account group otherwise the specified account will be replaced by the IS-0299 direct costs control account.
Note: Cost of sales accounts are assigned to stock codes on an individual stock code basis which means that you have
the option of including multiple stock codes in each cost of sales account or linking stock codes to their own cost of sales
account.
The formulas in the gross profit amount and percentage lines are based on the relative position of the line to the same line
in the turnover and cost of sales sections. It is therefore important to include lines consistently if you add more line items to
each of these sections.
Note: The direct costs control account does not have a turnover account and the formula which is based on this account in
the gross profit section should therefore not be copied when inserting new lines. All new lines should also be inserted
above this line in the cost of sales and gross profit amount sections.
Cash Flow Statement
All the transactions that are recorded on the Income and Expenses sheets are also automatically updated to the monthly
cash flow statement which is included on the CFS sheet. No user input is required on this sheet.
Note: The same principles with regards to account group integration as included in the Income Statement section applies
to the cash flow statement. We do not however recommend changing the default account group integration on this sheet.
Most account groups are set to report on an account group total basis and there is no real benefit in switching to individual
account integration on the cash flow statement.
Note: The only changes that may be required are the addition of new lines if you have added any new account groups to
the template. You then basically need to copy a line of a similar nature (which has a green key in column A) and change
the key in column A so that the monthly amounts are calculated based on the new account group.
Note: All the keys in column A which are reflected in orange contain custom calculations relating to specific control
accounts which should not be copied for any new account group lines.
Balance Sheet
All the transactions that are recorded on the Income and Expenses sheets are also automatically updated to the monthly
balance sheet which is included on the BS sheet. No user input is required on this sheet.
The balances sheet account integration is set up to report account group totals for most of the balance sheet items. The
exception is the individual bank accounts in the current assets section which all report individually. If you therefore add
additional bank codes to the Setup sheet, you also need to add additional rows in this section to include the new bank
codes in the balance sheet. You only need to insert the required number of additional rows and copy the formulas from
one of the existing bank account lines to complete this process. The formulas will automatically pick up the correct bank
codes.
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Instructions
If you want to change the account integration for any line on the balance sheet from group reporting to individual reporting,
you again need to insert the required number of additional rows, copy the formulas from the existing line and replace the
account group key in column A with the full account numbers. If you do not add all the accounts that form part of the
appropriate account group, your balance sheet may not balance.
Note: If you convert one or more account groups from account group reporting to individual account reporting, you may
also need to update the appropriate total column on the balance sheet.
Note: Only the balance sheet items with green account keys can be changed to individual account reporting. The items
with orange keys are general ledger control accounts which have unique formulas which cannot be used for any of the
other line items on the balance sheet.
Balance Sheet Imbalances
We have included two rows below the balance sheet that contain control totals which indicate whether the balance sheet is
in balance. The first row indicates whether the balance sheet balances (which means that the total assets equal the total
equity & liabilities) and the second row indicates whether the total of all the bank account balances on the balance sheet
agrees to the monthly closing cash balance on the cash flow statement.
Both control totals should always display an "ok" text string but if there is a problem with the appropriate control total, an
"error" message which is highlighted in orange will be displayed. This error message means that there is an imbalance in
the template and the value of the imbalance will be displayed above the error message for balance sheet errors and below
the error message for cash flow statement errors.
We recommend completing the following steps when encountering errors:

■ Review the Income and Expenses sheets and ensure that there are no error codes in the Error Code columns. The Error
Code columns on both sheets should contain no error codes - if an error code is displayed in any transaction row, refer to
the Error Codes section of these instructions for guidance on the reason why an error code is displayed and the corrective
action that needs to be taken.
■ Review the Income and Expenses sheets and ensure that a bank code has been allocated to all transactions. If there are
any blank cells in the Bank Code column, select the appropriate bank code from the list box.
■ Review the Income and Expenses sheets and ensure that a valid account number has been selected for all transactions.
If there are any blank cells in the Account Number column, select a valid account number from the drop-down list.
■ Review the invoice date, document date and payment date columns on the Income and Expenses sheets and ensure
that all dates have been entered in accordance with the regional date settings that are specified in the System Control
Panel. A quick way of checking this is to format the appropriate date column as values - all valid dates will then be
displayed as values and invalid date entries will still be displayed as text which looks like a date. After reviewing all dates,
remember to undo the value formatting otherwise the contents of the affected date column will contain values instead of
dates.
■ Open the Setup sheet and ensure that all additional bank accounts have been added to the TB and BS sheets. If a bank
account has not been added to these sheets, the status in column D or E will show as "add!". Refer to the Setup - Bank
Accounts section of the instructions for guidance on how to add bank accounts to the appropriate sheet. Once the bank
account has been added, the status will automatically change to "ok".
■ Open the TB sheet and ensure that the template opening balances (column C) add up to a total of nil. If your opening
balances don't balance, the balance sheet will also not balance.
■ Review the Status column on the TB sheet and ensure that there are no items highlighted in red. If an item is highlighted
in red and contains an error message, it indicates that the appropriate account group has been set to report on an
individual account basis and that the highlighted account has not been added to the income statement or balance sheet. If
an item is highlighted in red and contains a double error, it means that the account group has been integrated on the
individual account number basis but that the group integration (ending in a "G") is also still active on the income statement
or balance sheet. The row with the group integration in the Key column on the income statement or balance sheet
therefore needs to be deleted.
■ Review the income statement, cash flow statement and balance sheet and check that there are no duplicate keys in
column A. If you duplicate an account number or group key, the balance sheet will not balance.
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Instructions
If you've completed all of the above steps and still cannot resolve the imbalance on the balance sheet, contact our Support
function for assistance. You probably need to send us your version of the template so that we can determine what the
cause of the imbalance is.
Bank Account Movement Analysis
We have included the Bank sheet to enable users to analyse bank account movements for any bank account on a daily
and monthly basis. The only user input that is required on this sheet is to select the appropriate bank code and monthly
period from the drop-down lists at the top of the sheet.
Note: If you want to display the bank account movement totals for all bank codes, simply clear the contents of the bank
code input cell. If no monthly period is selected, the calculations will default to the last month of the current financial year.
Note: Negative values that have been included on the Expenses sheet are deemed to be income and therefore included in
the Income columns. Transactions that have been allocated to the JC general journal bank code are not included in the
calculations on this sheet.
Sales Tax Analysis

We have also included an additional sheet which enables users to analyse sales tax movements on a monthly basis. The
SalesTax sheet breaks the movement in the sales tax control accounts (BS-1700 and BS-1710) down into individual
components which makes it easier to calculate sales tax return and paid amounts. If your business is not subject to sales
tax, this sheet can be deleted.
The main components of the sales tax control accounts are output tax, input tax and payments. The output tax totals are
calculated based on the Sales Tax Amount columns on the Income sheet, the input tax totals are calculated based on the
Sales Tax Amount columns on the Expenses sheet and the Payment column includes all transactions on the Income and
Expenses sheets which have been allocated to account BS-1700 or BS-1710.
Note: All sales tax payments should be recorded on the Expenses sheet and allocated to the appropriate sales tax control
account while all sales tax refunds should be recorded on the Income sheet and allocated to the sales tax control accounts
(BS-1700 for national or federal sales tax or BS-1710 for state sales tax).
The Inclusive section provides the monthly totals inclusive of sales tax - as per the Income sheet for the Output column
and as per the Expenses sheet for the Input column. These totals are usually required when completing sales tax returns.
The net monthly column is calculated by deducting the monthly input tax value from the monthly output tax value and
therefore represents the net monthly sales tax liability (or asset if the input exceeds the output). The effective monthly
sales tax percentages are also calculated and included on the sheet.
Note: You can select the tax type from the list box in cell D2 - options include national / federal sales tax, state sales tax or
both. If cell D2 is empty, the both option is assumed and the calculations are reflected for both sales taxes and therefore
both sales tax control accounts.
Note: You can also select individual sales tax codes from the list boxes in cell E2 and F2 at the top of the sheet to display
the calculations based on any of the tax codes which have been included on the Setup sheet. The content of these list box
can then simply be cleared to display the values for all sales tax codes.
Note: The template provides for two sales tax types namely national or federal sales tax and state sales tax. If you only
require one sales tax type and you would like to delete the second sales tax type, you will be able to do so without
affecting the template formulas by simply deleting the columns for Tax 2 Code and Sales Tax 2 Amount on the Income and
Expenses sheets. All the appropriate sales tax calculations will then only be based on the one sales tax type.
Page 28 of 50
Instructions
1 codes blank and delete the sales tax 2 columns as indicated above. No sales tax amounts will then be calculated.
Gross Profit Analysis
The GP sheet includes a monthly analysis of gross profit percentages and inventory movements which has been added to
the template to make it easier to analyse the data for individual stock codes. No user input is required on this sheet - you
only need to select the appropriate stock code from the list box at the top of the sheet.
Note: If you delete the contents of the list box, the values on the sheet will be calculated for all stock codes. Only the first
four columns will however contain data because individual stock items may have different units of measure and calculating
quantity based totals on this basis may therefore be inaccurate.
Roll Forward for Subsequent Financial Periods

After specifying the first financial year on the Setup sheet and including the appropriate opening balances in column C on
the TB sheet, the template can be rolled forward for subsequent financial years quite easily. All you need to do in order to
roll the template forward for subsequent financial years or back for previous financial years is to amend the reporting year
on the Setup sheet.
When you change the reporting year, the monthly reporting periods on all the sheets that are included in the template are
automatically changed and all calculations are automatically updated. You therefore do not need to save a separate
version of the template for each financial year - you simply continue adding transactions to the Income and Expenses
sheets and use the reporting year setting on the Setup sheet to navigate between financial years.
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 29 of 50
Example (Pty) Limited
Setup
© www.excel-skills.com
Business Details
Business Name Example (Pty) Limited
Business Address Building Name, Street Address, Suburb, City, 9999
Contact Number +27 21 999 9999
Fax Number +27 21 999 0000
Website www.example.com On this sheet:
E-mail info@example.com Enter your business & banking details and maintain sales tax percentages & bank codes. You can also add an
Sales Tax Number 9999 999 9999 unlimited number of sales tax codes and bank account codes. Specify the first financial year that you want to
Registration Number 2011 000000 00 include in the template and set your year-end and reporting year. The 12-month reporting period included on
the monthly income statement, cash flow statement and balance sheet is determined by the reporting year
specified which means that the template can be rolled forward or back by simply changing the reporting year.
Report Setup
All the template calculations are then automatically updated.
First Day:
First Financial Year * 2021 3/1/2020 * Should be set once when you start using the template
First Day:
Reporting Year ** 2021 3/1/2020 ** Change annually to roll reporting periods forward or back
Year End Month February
Sales Tax
Code Description Percentage
A Standard Sales Tax 1 15.0%
B Standard Sales Tax 2 0.0%
C Standard Sales Tax 3 10.0%
E Exempt 0.0%
Z Zero Rated 0.0%
End of list
Selling Price Input Exclusive Exclusive
Bank Accounts
Code Description TB Status BS Status
B1 B1 Bank Account ok ok
PC PC Petty Cash ok ok
JC GL Journal Control ok ok
End of list
Banking Details
Bank Name Example Bank
Account Type Current Account
Bank Code 999-999
Account Number 1111 999 888
Text Please use your customer code as your payment reference.
Input Error Codes

Code Reason
E1 Payment date is before the invoice / document date
E2 Account number is invalid
E3 Bank code is invalid
E4 Customer code is invalid
E5 Stock code is invalid
E6 Insufficient stock
January
February
March
April
May
June
July
August
September
October
November
December
Page 30 of 50
Account Group Setup
Group
Group Description
Key
BS-00 Property, Plant & Equipment - Cost
BS-01 Property, Plant & Equipment - Accum Dep
BS-02 Intangible Assets - Cost
BS-03 Intangible Assets - Amortization
BS-04 Investments
BS-05 Loans & Advances
BS-07 Cash On Hand
BS-09 Other Debtors On this sheet:
BS-13 Accruals This sheet contains the default list of account groups that are used in this template. You
BS-14 Dividends Payable can customize the descriptions of the account groups but we do not recommend changing
BS-15 Provision for Taxation the account group keys. Additional account groups can be added as detailed in the
BS-16 Other Provisions template instructions.
BS-17 Sales Tax
BS-18 Long Term Liabilities
BS-19 Reserves
BS-20 Shareholders' Contributions
IS-01 Turnover
IS-02 Cost of Sales
IS-03 Operating Expenses
IS-04 Staff Costs
IS-05 Depreciation & Amortization
IS-06 Interest Paid
IS-07 Taxation Paid
IS-08 Other Expenses
IS-09 Other Income
IS-10 Dividends Paid
Control Accounts
BS-B Bank Accounts
BS-ST Inventory
BS-RC Trade Debtors
BS-PA Trade Creditors
BS-RT Retained Earnings - Opening
BS-IN Retained Earnings - Current
Page 31 of 50
Trial Balance & Chart of Accounts 2/29/2020 2/29/2020
© www.excel-skills.com 29 Feb 2020 29 Feb 2020 28 Feb 2021
Account Template: Trial Balance: Account Trial Balance:
Account Description
Number Opening Balance Opening Balance Movement Closing Balance
BS-0005 Land & Buildings - Cost - - - -
BS-0010 Plant & Equipment - Cost - - - -
BS-0015 Furniture & Fittings - Cost 120,500.00 120,500.00 15,450.00 135,950.00
BS-0020 Office Equipment - Cost 63,250.00 63,250.00 10,200.00 73,450.00
BS-0025 Computer Equipment - Cost - - - -
BS-0030 Other Assets - Cost - - - -
BS-0105 Land & Buildings - Accum Depreciation - - - -
On this sheet:
BS-0110 Plant & Equipment - Accum Depreciation - - - -
The opening balance sheet balances should be entered in column C on this sheet. A trial balance at the end of the year before the first
BS-0115 Furniture & Fittings - Accum Depreciation (22,000.00) (22,000.00) (18,232.00) (40,232.00)
financial year set on the Setup sheet should be used for this purpose. Note that the Bank, Inventory, Trade Debtors and Trade
BS-0120 Office Equipment - Accum Depreciation (12,500.00) (12,500.00) (12,190.00) (24,690.00)
Creditors opening balances are calculated and therefore need to be included on the Stock, Income and Expenses sheets. The default list
BS-0125 Computer Equipment - Accum Depreciation
of accounts can be customized by adding - additional accounts to the- - descriptions of existing
list, changing the - accounts or deleting
BS-0130 Other Assets - Accum Depreciation - trial balance which can- be displayed for any
accounts. The sheet also contains a detailed - of the appropriate
- monthly periods by simply
BS-0205 Goodwill - Cost selecting the appropriate month end at the- top of the sheet. - - -
BS-0210 Trademarks - Cost - - - -
BS-0215 Software - Cost - - - -
BS-0305 Goodwill - Accum Amortization - - - -
BS-0310 Trademarks - Accum Amortization - - - -
BS-0315 Software - Accum Amortization - - - -
BS-0400 Investments 150,000.00 150,000.00 30,750.00 180,750.00
BS-0500 Loans & Advances 12,000.00 12,000.00 (12,000.00) -
BS-0700 Cash On Hand - - - -
BS-0799 Cash Transfer Control - - - -
BS-0900 Other Debtors - - - -
BS-0905 Prepayments 15,000.00 15,000.00 (15,000.00) -
BS-1300 Accruals - - - -
BS-1305 Payroll Accruals - - - -
BS-1310 Interest Payable - - - -
BS-1405 Dividends Payable - - (78,500.00) (78,500.00)
BS-1505 Provision For Taxation - - - -
BS-1610 Provision For Bonuses - - - -
BS-1700 Sales Tax 1 Control - National / Federal (30,240.00) (30,240.00) 6,014.35 (24,225.65)
BS-1710 Sales Tax 2 Control - State - - - -
BS-1805 Long Term Loans (200,000.00) (200,000.00) (16,249.61) (216,249.61)
BS-1900 Reserves - - - -
BS-2000 Shareholders' Contributions (100.00) (100.00) - (100.00)
IS-0105 Sales - Fruit Juice - (2,370,245.00) (2,370,245.00)
IS-0110 Sales - Vegetable Juice - (1,541,377.50) (1,541,377.50)
IS-0205 Cost of Sales - Fruit Juice - 1,123,093.85 1,123,093.85
IS-0210 Cost of Sales - Vegetable Juice - 702,757.83 702,757.83
IS-0299 Cost of Sales - Direct Costs - - -
IS-0305 Accounting Fees - 23,982.61 23,982.61
IS-0310 Advertising & Marketing - 143,643.00 143,643.00
IS-0315 Bank Charges - 1,179.30 1,179.30
IS-0320 Commission - 27,850.00 27,850.00
IS-0325 Computer Expenses - 3,476.52 3,476.52
IS-0330 Consumables & Cleaning - 2,500.00 2,500.00
IS-0335 Entertainment - - -
IS-0340 Insurance - 3,837.22 3,837.22
IS-0345 Office Expenses - 995.65 995.65
IS-0350 Office Rent - 143,895.65 143,895.65
IS-0355 Postage - 520.00 520.00
IS-0360 Professional & Legal Fees - 5,652.17 5,652.17
IS-0365 Stationery - 2,491.30 2,491.30
IS-0370 Subscriptions & Memberships - 5,200.00 5,200.00
IS-0375 Telephone & Internet - 8,860.87 8,860.87
IS-0380 Training - 4,043.48 4,043.48
IS-0385 Travelling & Accommodation - 13,704.35 13,704.35
IS-0390 Utilities - - -
IS-0405 Salaries & Wages - Staff - 548,600.00 548,600.00
IS-0410 Salaries & Wages - Management - 685,720.00 685,720.00
IS-0505 Depreciation - 30,422.00 30,422.00
IS-0510 Amortization - - -
IS-0600 Interest Paid - 19,367.24 19,367.24
IS-0700 Taxation - 122,135.72 122,135.72
IS-0800 Other Expenses - - -
IS-0805 Foreign Exchange Loss - - -
IS-0810 Loss on Disposal of Assets - - -
IS-0900 Other Income - (27,605.85) (27,605.85)
IS-1000 Dividends - 78,500.00 78,500.00
End of list - add accounts above this row
Control Accounts
BS-BB1 B1 Bank Account 45,250.50 45,250.50 214,266.32 259,516.82
BS-BB2 B2 Bank Account 61,500.00 61,500.00 (20,809.35) 40,690.65
BS-BB3 B3 Bank Account - - 9,457.00 9,457.00
BS-BPC PC Petty Cash 1,000.00 1,000.00 (5.00) 995.00
BS-BJC GL Journal Control - - - -
BS-STG Inventory 270,692.00 270,692.00 70,887.62 341,579.62
BS-RCG Trade Debtors 159,160.00 159,160.00 118,977.25 278,137.25
BS-PAG Trade Creditors (88,340.00) (88,340.00) (66,217.00) (154,557.00)
BS-RTG Retained Earnings (545,172.50) (545,172.50) - (545,172.50)
- - - -
Page 32 of 50
Example (Pty) Limited Balance Date 1/31/2021 12/31/2020 11/30/2020 10/31/2020 9/30/2020 8/31/2020
Customers 2/28/2021 2/28/2021 1/31/2021 12/31/2020 11/30/2020 10/31/2020 9/30/2020
© www.excel-skills.com 278,137.25 244,415.25 33,722.00 - - - -
Outstanding
Code Billing Name Billing Address Sales Tax Number Current 30 Days 60 Days 90 Days 120 Days 120+ Days
Balance
ABC01 ABC Bank 52 Adderley Crescent, Rivionia, Johannesburg, 1000 452 079 2090 - - - - - - -
FCT01 Fruit Commodity Traders 20 Strand Street, Cape Town, 7000 - - - - - - -
FRE01 Freshmark 39 Bay Avenue, Waverley, Bloemfontein, 9300 402 899 3000 - - - - - - -
FRV01 Fruit & Veg 20 Cross Street, Gardens, Cape Town, 7005 411 250 4005 171,428.75 137,706.75 33,722.00 - - - -
FTR01 Fresh Trade 112 Elizabeth Avenue, Notting Hill, London, United Kingdom, EC5 3PW - - - - - - -
GGR01 Green Grocer 105 Newmarket Street, City Bowl, Cape Town, 7200 499 888 2000 - - - - - - -
MIM01 Mini Market 55A Broad Street, Umhlanga, Durban, 3250 423 090 3400 - - - - - - -
TPS01 TPS Exports 115 Main Street, Houtbay, Cape Town, 7100 432 998 7273 - - - - - - -
TRF01 TRF Trading 290 York Crescent, Northcliff, Johannesburg, 1020 463 556 2880 47,092.50 47,092.50 - - - - -
WCM01 WC Market 15 Strand Street, Walmer, Port Elizabeth, 4320 412 998 0020 - - - - - - -
WWF01 WW Fresh Produce 22 Upper Boulevard, Fourways, Johannesburg, 1080 59,616.00 59,616.00 - - - - -
XXX01 General Customer Code - - - - - - -
XXX99 No Customer - - - - - - -
On this sheet:
Create customer codes for all customers and enter the billing details for each customer. The
customer codes created on this sheet are included in a list box on the Income sheet and the
billing details are automatically included on the tax invoice and customer statement. The
outstanding balances and ageing of balances are automatically calculated based on a user
defined balance date entered at the top of the sheet.
Page 33 of 50
Example (Pty) Limited From Date To Date 3/1/2020
Stock 3/1/2020 2/28/2021 2/28/2021
© www.excel-skills.com 341,579.62 270,692.00 270,692.00 1,896,739.30 (1,825,851.68) 341,579.62 3,911,622.50 2,085,770.82 53.3%
Cost of Sales Startup Startup Inventory Quantity On Startup Opening Purchase Invoiced Closing Opening Total Purchase Total Cost of Closing Total Sales Gross Profit Gross Profit
Stock Code Description UOM Unit Cost
Account Quantity Cost Valuation Hand Valuation Quantity Quantity Quantity Quantity Valuation Value Sales Value Valuation Value Value %
F0010 Apple Juice Units IS-0205 13,740.00 3.10 36,493.35 3.20 11,390.00 42,594.00 13,740.00 158,600.00 (160,950.00) 11,390.00 42,594.00 508,473.09 (514,573.74) 36,493.35 1,149,290.00 634,716.26 55.2%
F0015 Orange Juice Units IS-0205 7,260.00 5.00 54,797.28 5.82 9,410.00 36,300.00 7,260.00 78,100.00 (75,950.00) 9,410.00 36,300.00 418,217.39 (399,720.11) 54,797.28 685,215.00 285,494.89 41.7%
F0020 Strawberry Juice Units IS-0205 5,270.00 24.00 169,680.00 28.00 6,060.00 126,480.00 5,270.00 9,000.00 (8,210.00) 6,060.00 126,480.00 252,000.00 (208,800.00) 169,680.00 535,740.00 326,940.00 61.0%
V0010 Tomato Juice Units IS-0210 9,220.00 3.20 31,550.96 3.32 9,500.00 29,504.00 9,220.00 80,980.00 (80,700.00) 9,500.00 29,504.00 264,592.13 (262,545.17) 31,550.96 662,850.00 400,304.83 60.4%
V0015 Beetroot Juice Units IS-0210 5,890.00 3.60 31,183.04 3.58 8,710.00 21,204.00 5,890.00 76,570.00 (73,750.00) 8,710.00 21,204.00 270,518.43 (260,539.40) 31,183.04 452,175.00 191,635.60 42.4%
V0020 Carrot Juice Units IS-0210 7,305.00 2.00 17,875.00 2.50 7,150.00 14,610.00 7,305.00 80,650.00 (80,805.00) 7,150.00 14,610.00 182,938.26 (179,673.26) 17,875.00 426,352.50 246,679.24 57.9%
On this sheet:
Create stock codes for all products and enter the unit of measure (UOM) and cost of sales account for each stock
item. You can also include the start-up quantities & costs as at the beginning of the first financial year included
in the template. The stock codes created on this sheet are included in list boxes on the Income & Expenses sheets.
The calculated columns with the light blue column headings contain calculations of the inventory on hand and
the inventory movements for the user defined date range which can be specified at the top of the sheet.
Page 34 of 50
Example (Pty) Limited Balance Date FRV01
Income & Other Receipts 2/28/2021 2/28/2021 ###
© www.excel-skills.com 4,813,011.63 4,846,733.63 611,354.78 - 4,235,378.85 278,137.25 1,825,851.68 2,085,770.82 341.2%
Invoice Tax 1 Tax 2 Bank Account Payment Payment Inclusive Sales Tax 1 Sales Tax 2 Exclusive Outstanding Transaction Previous Previous Transaction Cost of Sales Gross Profit Gross Profit Cost of Sales Unique Unique Error
Number Invoice Date Customer Stock Code Description Quantity Selling Price Code Code Code Number Amount Date Amount Amount Amount Amount Balance Type Quantity Cost Cost Amount Amount Percentage Account Invoice Date INV ST1 Code
IN0051 2/15/2020 FRV01 Sales - Apple Juice 5,800.00 8.50 A E B1 BS-0799 117,760.00 3/15/2020 56,695.00 7,395.00 - 49,300.00 - - - - - - - 0.0% - 2/15/2020 Y 0 -
IN0051 2/15/2020 FRV01 Sales - Orange Juice 5,900.00 9.00 A E B1 BS-0799 - 3/15/2020 61,065.00 7,965.00 - 53,100.00 - - - - - - - 0.0% - 2/15/2020 N 0 -
IN0052 2/25/2020 TRF01 Sales - Beetroot Juice 6,000.00 6.00 A E B1 BS-0799 41,400.00 3/25/2020 41,400.00 5,400.00 - 36,000.00 - - - - - - - 0.0% - 2/25/2020 Y 0 -
OB 2/28/2020 XXX99 Opening Bank Balance - 45,250.50 E E B1 BS-0799 45,250.50 2/28/2020 45,250.50 - - 45,250.50 - - - - - - - 0.0% - 2/28/2020 Y 0 -
OB 2/28/2020 XXX99 Opening Bank Balance - 61,500.00 E E B2 BS-0799 61,500.00 2/28/2020 61,500.00 - - 61,500.00 - - - - - - - 0.0% - 2/28/2020 N 0 -
OB 2/28/2020 XXX99 Opening Bank Balance - - E E B3 BS-0799 - 2/28/2020 - - - - - - - - - - - 0.0% - 2/28/2020 N 0 -
OB 2/28/2020 XXX99 Opening Bank Balance - 1,000.00 E E PC BS-0799 1,000.00 2/28/2020 1,000.00 - - 1,000.00 - - - - - - - 0.0% - 2/28/2020 N 0 -
REC0020 3/1/2020 ABC01 Interest Received - 150.01 E E B2 IS-0900 150.01 3/1/2020 150.01 - - 150.01 - - - - - - - 0.0% - 3/1/2020 Y 0 -
REC0021 3/7/2020 FCT01 Commission Received - 1,710.00 A E B1 IS-0900 1,966.50 3/7/2020 1,966.50 256.50 - 1,710.00 - - - - - - - 0.0% - 3/7/2020 Y 0 -
On this sheet:
IN0053 3/10/2020 WCM01 V0010 Sales - Tomato Juice 6,000.00 7.90 A E B1 IS-0110 54,510.00 3/25/2020 54,510.00 7,110.00 - 47,400.00 - STOCK 15,720.00 3.19 19,130.97 19,130.97 28,269.03 59.6% IS-0210 3/10/2020 Y 0 -
Record all sales transactions and cash receipts in the columns with yellow column headings on this sheet. The columns with light blue column
IN0054 3/10/2020 WWF01 F0010 Sales - Apple Juice 7,000.00 7.00 A E B1 IS-0105 56,350.00 3/30/2020 56,350.00 7,350.00 - 49,000.00 - STOCK 25,740.00 3.13 21,935.53 21,935.53 27,064.47 55.2% IS-0205 3/10/2020 Y 0 -
headings contain formulas which are automatically copied for all new transactions added to the table. All income transactions are included in trade
IN0055 3/15/2020& income
debtors FRV01 based on F0010 Salesentered
the invoice dates - Apple in
Juice
column B. When an6,200.00
invoice is paid by 7.00 A
the customer, E
simply B1 the payment
enter IS-0105amount &112,010.00 4/15/2020 49,910.00 6,510.00 - 43,400.00 - STOCK 18,740.00 3.13 19,428.61 19,428.61 23,971.39 55.2% IS-0205 3/15/2020 Y 0 -
IN0055 3/15/2020 date
payment FRV01 F0015 amountSales
and the transaction - Orange Juice removed from trade
is automatically 6,000.00 9.00
debtors and included inA the appropriate
E B1bank balance.
IS-0105Customer - 4/15/2020 62,100.00 8,100.00 - 54,000.00 - STOCK 13,760.00 4.98 29,876.77 29,876.77 24,123.23 44.7% IS-0205 3/15/2020 N 0 -
IN0056 3/20/2020
codes, MIM01
stock F0020
codes, sales tax codes, bankSales - Strawberry
codes Juice numbers can 600.00
and account be selected from60.00 A
the drop-down Elists in B1 IS-0105 columns. 41,400.00
the appropriate 3/20/2020 41,400.00 5,400.00 - 36,000.00 - STOCK 5,270.00 24.00 14,400.00 14,400.00 21,600.00 60.0% IS-0205 3/20/2020 Y 0 -
IN0057 3/25/2020 GGR01
Outstanding balances can beV0020
displayed by Sales
simply- Carrot Juicethe appropriate balance
entering 7,200.00date at the top
5.00 A
of the sheet. E B1 IS-0110 41,400.00 3/25/2020 41,400.00 5,400.00 - 36,000.00 - STOCK 14,305.00 1.99 14,338.73 14,338.73 21,661.27 60.2% IS-0210 3/25/2020 Y 0 -
IN0058 3/25/2020 TRF01 V0015 Sales - Beetroot Juice 5,800.00 6.00 A E B1 IS-0110 40,020.00 4/25/2020 40,020.00 5,220.00 - 34,800.00 - STOCK 11,690.00 3.58 20,789.92 20,789.92 14,010.08 40.3% IS-0210 3/25/2020 Y 0 -
IN0061 4/15/2020 FRV01 F0010 Sales - Apple Juice 6,200.00 7.10 A E B1 IS-0105 101,223.00 5/15/2020 50,623.00 6,603.00 - 44,020.00 - STOCK 17,240.00 3.17 19,625.41 19,625.41 24,394.59 55.4% IS-0205 4/15/2020 Y 0 -
IN0061 4/15/2020 FRV01 F0015 Sales - Orange Juice 5,000.00 8.80 A E B1 IS-0105 - 5/15/2020 50,600.00 6,600.00 - 44,000.00 - STOCK 13,760.00 4.99 24,942.09 24,942.09 19,057.91 43.3% IS-0205 4/15/2020 N 0 -
IN0062 4/20/2020 MIM01 F0020 Sales - Strawberry Juice 650.00 58.00 A E B1 IS-0105 43,355.00 4/20/2020 43,355.00 5,655.00 - 37,700.00 - STOCK 4,670.00 24.00 15,600.00 15,600.00 22,100.00 58.6% IS-0205 4/20/2020 Y 0 -
IN0063 4/25/2020 GGR01 V0020 Sales - Carrot Juice 7,100.00 5.00 A E B1 IS-0110 40,825.00 4/25/2020 40,825.00 5,325.00 - 35,500.00 - STOCK 13,855.00 2.09 14,860.82 14,860.82 20,639.18 58.1% IS-0210 4/25/2020 Y 0 -
IN0098 10/20/2020 MIM01 F0020 Sales - Strawberry Juice 720.00 65.00 A E B1 IS-0105 53,820.00 10/20/2020 53,820.00 7,020.00 - 46,800.00 - STOCK 720.00 24.00 17,280.00 17,280.00 29,520.00 63.1% IS-0205 10/20/2020 Y 0 -
Page 35 of 50
Example (Pty) Limited Balance Date FRV01
Income & Other Receipts 2/28/2021 2/28/2021 ###
© www.excel-skills.com 4,813,011.63 4,846,733.63 611,354.78 - 4,235,378.85 278,137.25 1,825,851.68 2,085,770.82 341.2%
Invoice Tax 1 Tax 2 Bank Account Payment Payment Inclusive Sales Tax 1 Sales Tax 2 Exclusive Outstanding Transaction Previous Previous Transaction Cost of Sales Gross Profit Gross Profit Cost of Sales Unique Unique Error
Number Invoice Date Customer Stock Code Description Quantity Selling Price Code Code Code Number Amount Date Amount Amount Amount Amount Balance Type Quantity Cost Cost Amount Amount Percentage Account Invoice Date INV ST1 Code
REC0050 1/10/2021 ABC01 Loan Received - 50,000.00 E E B2 BS-1805 50,000.00 1/10/2021 50,000.00 - - 50,000.00 - - - - - - - 0.0% - 1/10/2021 N 0 -
IN0115 1/15/2021 FRV01 F0010 Sales - Apple Juice 7,000.00 7.20 A E B1 IS-0105 100,000.00 2/15/2021 57,960.00 7,560.00 - 50,400.00 33,722.00 STOCK 17,590.00 3.21 22,467.61 22,467.61 27,932.39 55.4% IS-0205 1/15/2021 Y 1 -
IN0117 1/25/2021 GGR01 V0020 Sales - Carrot Juice 255.00 5.50 A E B1 IS-0110 1,612.88 1/25/2021 1,612.88 210.38 - 1,402.50 - STOCK 255.00 2.41 613.94 613.94 788.56 56.2% IS-0210 1/25/2021 Y 0 -
IN0120 2/10/2021 WWF01 F0010 Sales - Apple Juice 7,200.00 7.20 A E B1 IS-0105 59,616.00 3/2/2021 59,616.00 7,776.00 - 51,840.00 59,616.00 STOCK 25,690.00 3.20 23,068.66 23,068.66 28,771.34 55.5% IS-0205 2/10/2021 Y 0 -
IN0121 2/15/2021 FRV01 F0010 Sales - Apple Juice 7,100.00 7.20 A E B1 IS-0105 137,706.75 3/15/2021 58,788.00 7,668.00 - 51,120.00 137,706.75 STOCK 18,490.00 3.20 22,748.27 22,748.27 28,371.73 55.5% IS-0205 2/15/2021 Y 1 -
ADJ011 2/23/2021 XXX99 F0015 Stock Adjustment - Oranges 50.00 - A E JC IS-0105 - 2/23/2021 - - - - - STOCK 9,460.00 5.82 291.17 291.17 (291.17) 0.0% IS-0205 2/23/2021 Y 0 -
IN0124 2/25/2021 TRF01 V0015 Sales - Beetroot Juice 6,500.00 6.30 A E B1 IS-0110 47,092.50 3/25/2021 47,092.50 6,142.50 - 40,950.00 47,092.50 STOCK 15,210.00 3.58 23,270.92 23,270.92 17,679.08 43.2% IS-0210 2/25/2021 Y 0 -
Page 36 of 50
Insert business logo in this section...

Building Name, Street Address, Suburb, City, 9999
Contact Number: +27 21 999 9999 | Fax Number: +27 21 999 0000
Website: www.example.com | E-mail: info@example.com
Sales Tax Number: 9999 999 9999 | Registration Number: 2011 000000 00
Tax Invoice
Invoice Number IN0059 Customer Code

Invoice Date 4/10/2020 WCM01
Invoiced To:
WC Market
15 Strand Street, Walmer, Port Elizabeth, 4320
Customer Tax No: 412 998 0020
Stock Code Description Unit Quantity Price Amount

V0010 Tomato Juice Units 6,200.00 8.00 49,600.00
Subtotal 49,600.00
Sales Tax 1 7,440.00
Sales Tax 2 -
Invoice Total 57,040.00
Banking Details:
Bank Name: Example Bank
Account Type: Current Account
Bank Code: 999-999
Account Number: 1111 999 888
Please use your customer code as your payment reference.
Insert business logo in this section...

Building Name, Street Address, Suburb, City, 9999
Contact Number: +27 21 999 9999 | Fax Number: +27 21 999 0000
Website: www.example.com | E-mail: info@example.com
Sales Tax Number: 9999 999 9999 | Registration Number: 2011 000000 00
Account Statement
Customer Code FRV01

Statement Date 2/28/2021
Customer Details
Fruit & Veg
20 Cross Street, Gardens, Cape Town, 7005
Outstanding Balance: 171,428.75
Current 30 Days 60 Days 90 Days 120 Days 120+ Days

137,706.75 33,722.00 0.00 0.00 0.00 0.00
Invoice Number Invoice Date Document Amount Balance

IN0115 1/15/2021 Invoice 33,722.00 33,722.00
IN0121 2/15/2021 Invoice 137,706.75 171,428.75
Example (Pty) Limited Balance Date
Expenses & Other Payments 2/28/2021 2/28/2021
© www.excel-skills.com 4,412,493.91 154,557.00 4,077,539.32 334,954.59 - 4,412,493.91
Document Tax Inclusive Tax 1 Tax 2 Bank Account Payment Expense Outstanding Exclusive Sales Tax 1 Sales Tax 2 Inclusive Price Per Final Error
Date Supplier Stock Code Reference Description Quantity Amount Code Code Code Number Date Type Balance Amount Amount Amount Amount Unit Account Code
2/7/2020 SA Fruit Farms SAF9154 Apple Juice 10,000.00 34,200.00 A E B1 BS-0799 3/7/2020 - - 29,739.13 4,460.87 - 34,200.00 - BS-0799 -
2/7/2020 SA Fruit Farms SAF9154 Orange Juice 6,000.00 32,832.00 A E B1 BS-0799 3/7/2020 - - 28,549.57 4,282.43 - 32,832.00 - BS-0799 -
2/17/2020 XY Traders Invoice 13432 Commission - 4,788.00 A E B1 BS-0799 3/20/2020 - - 4,163.48 624.52 - 4,788.00 - BS-0799 -
2/26/2020 Example (Pty) Ltd Payroll Deductions - Staff - 7,200.00 E E B2 BS-0799 3/6/2020 - - 7,200.00 - - 7,200.00 - BS-0799 -
2/26/2020 Example (Pty) Ltd Payroll Deductions - Management - 9,320.00 E E B2 BS-0799 3/6/2020 - - 9,320.00 - - 9,320.00 - BS-0799 -
3/1/2020 IS Communications Invoice EXP22 Internet Service Provider - 840.00 A E B1 IS-0375 3/31/2020 - - 730.43 109.57 - 840.00 - IS-0375 -
3/2/2020 Newscorp I381119 Subscriptions - 478.00 A E B1 IS-0355 4/1/2020 - - 415.65 62.35 - 478.00 - IS-0355 -
3/2/2020 Northern Veg Produce V0010 NVP100678 Tomato Juice 6,500.00 23,712.00 A E B1 IS-0299 3/25/2020 STOCK - 20,619.13 3,092.87 - 23,712.00 3.17 BS-STG -
3/2/2020 Northern Veg Produce V0015 NVP100678 Beetroot Juice 5,800.00 23,803.20 A E B1 IS-0299 3/25/2020 STOCK - 20,698.43 3,104.77 - 23,803.20 3.57 BS-STG -
3/2/2020 Northern Veg Produce V0020 NVP100678 Carrot Juice 7,000.00 15,960.00 A E B1 IS-0299 3/25/2020 STOCK - 13,878.26 2,081.74 - 15,960.00 1.98 BS-STG -
On this sheet:
3/5/2020 EAG Brokers Debit Order Insurance - 364.80 A E B1 IS-0340 3/5/2020 - - 317.22 47.58 - 364.80 - IS-0340 -
Record all expense transactions and cash payments in the columns with yellow column headings on this sheet. The
3/7/2020 SA Fruit Farms F0010 SAF9110 Apple Juice 12,000.00 43,776.00 A E B1 IS-0299 4/7/2020 STOCK - 38,066.09 5,709.91 - 43,776.00 3.17 BS-STG -
columns with light blue column headings contain formulas which are automatically copied for all new transactions added
3/7/2020 SAtoFruit
the Farms F0015
sheet. All expense transactionsSAF9110 Orangecreditors
are included in trade Juice & expenses based on 6,500.00
the document37,050.00 A in
dates entered E B1 IS-0299 4/7/2020 STOCK - 32,217.39 4,832.61 - 37,050.00 4.96 BS-STG -
3/15/2020 Capital
columnBank Bank Statement
A. When an expense is paid, simply Service Fees
enter the payment date and the transaction amount- is automatically
57.00 removed
A E B1 IS-0315 3/15/2020 - - 49.57 7.43 - 57.00 - IS-0315 -
3/15/2020 Capital
fromBank Bank Statement
trade creditors and deducted from Servicebank
the appropriate Fees balance. Stock codes, sales tax
- codes, bank
34.20codesAand E B2 IS-0315 3/15/2020 - - 29.74 4.46 - 34.20 - IS-0315 -
3/15/2020 IAS Accountants
account numbers can be selected from Invoice
the drop-down Monthly
lists Accounting -
in the appropriate columns. Outstanding 2,280.00
balances canA be E B1 IS-0305 4/2/2020 - - 1,982.61 297.39 - 2,280.00 - IS-0305 -
3/15/2020 displayed by simply entering the appropriate
Interflora Cash balance date at the top of the sheet.
Flowers - 90.00 A E PC IS-0345 3/15/2020 - - 78.26 11.74 - 90.00 - IS-0345 -
3/18/2020 QQ International TR6998 Parking - 120.00 A E B1 IS-0385 3/18/2020 - - 104.35 15.65 - 120.00 - IS-0385 -
3/20/2020 Example (Pty) Ltd Transfer Inter Account Transfer - (60,000.00) E E B2 BS-0799 3/20/2020 - - (60,000.00) - - (60,000.00) - BS-0799 -
3/20/2020 Example (Pty) Ltd Transfer Inter Account Transfer - 60,000.00 E E B1 BS-0799 3/20/2020 - - 60,000.00 - - 60,000.00 - BS-0799 -
3/26/2020 Example (Pty) Ltd Payroll Salaries - 45,000.00 E E B2 IS-0410 3/26/2020 - - 45,000.00 - - 45,000.00 - IS-0410 -
3/26/2020 HP Finance Debit Order Capital repayment - 2,582.74 E E B1 BS-1805 3/26/2020 - - 2,582.74 - - 2,582.74 - BS-1805 -
3/26/2020 HP Finance Debit Order Interest paid - 1,666.67 E E B1 IS-0600 3/26/2020 - - 1,666.67 - - 1,666.67 - IS-0600 -
3/26/2020 PR Properties Debit Order Rent - 13,680.00 A E B1 IS-0350 3/26/2020 - - 11,895.65 1,784.35 - 13,680.00 - IS-0350 -
3/26/2020 Example (Pty) Ltd Payroll Net Pay - Staff - 35,000.00 E E B2 IS-0405 3/26/2020 - - 35,000.00 - - 35,000.00 - IS-0405 -
3/26/2020 Example (Pty) Ltd Payroll Deductions - Staff - 7,200.00 E E B2 IS-0405 4/6/2020 - - 7,200.00 - - 7,200.00 - IS-0405 -
3/26/2020 Example (Pty) Ltd Payroll Deductions - Management - 9,320.00 E E B2 IS-0410 4/6/2020 - - 9,320.00 - - 9,320.00 - IS-0410 -
3/26/2020 Example (Pty) Ltd Payroll Staff Loan Deduction - (12,000.00) E E B2 BS-0500 3/26/2020 - - (12,000.00) - - (12,000.00) - BS-0500 -
3/31/2020 Example (Pty) Ltd Bank Statement Petty Cash Reimbursement - 90.00 E E B1 BS-0799 3/31/2020 - - 90.00 - - 90.00 - BS-0799 -
3/31/2020 Example (Pty) Ltd Bank Statement Petty Cash Reimbursement - (90.00) E E PC BS-0799 3/31/2020 - - (90.00) - - (90.00) - BS-0799 -
3/31/2020 Google Card Online Marketing - 10,000.00 E E B3 IS-0310 4/7/2020 - - 10,000.00 - - 10,000.00 - IS-0310 -
4/7/2020 SA Fruit Farms F0015 SAF9154 Orange Juice 6,000.00 34,500.00 A E B1 IS-0299 5/7/2020 STOCK - 30,000.00 4,500.00 - 34,500.00 5.00 BS-STG -
4/12/2020 Interflora Cash Flowers - 87.00 A E PC IS-0345 4/12/2020 - - 75.65 11.35 - 87.00 - IS-0345 -
4/15/2020 Capital Bank Bank Statement Service Fees - 80.00 A E B1 IS-0315 4/15/2020 - - 69.57 10.43 - 80.00 - IS-0315 -
4/15/2020 IAS Accountants Invoice Monthly Accounting - 2,300.00 A E B1 IS-0305 5/3/2020 - - 2,000.00 300.00 - 2,300.00 - IS-0305 -
4/25/2020 Inland Revenue Return Sales Tax - 54,424.08 E E B1 BS-1700 4/25/2020 - - 54,424.08 - - 54,424.08 - BS-1700 -
4/26/2020 Furniture City Invoice Furniture - 17,767.50 A E B1 BS-0015 5/26/2020 - - 15,450.00 2,317.50 - 17,767.50 - BS-0015 -
4/29/2020 GF Supplies IN1179 Consumables - 2,500.00 A E PC IS-0325 4/29/2020 - - 2,173.91 326.09 - 2,500.00 - IS-0325 -
4/30/2020 Example (Pty) Ltd Bank Statement Petty Cash Reimbursement - 2,587.00 E E B1 BS-0799 4/30/2020 - - 2,587.00 - - 2,587.00 - BS-0799 -
4/30/2020 Example (Pty) Ltd Bank Statement Petty Cash Reimbursement - (2,587.00) E E PC BS-0799 4/30/2020 - - (2,587.00) - - (2,587.00) - BS-0799 -
Page 39 of 50
4/30/2020 None Journal Release Prepayment - 15,000.00 E E JC IS-0310 4/30/2020 - - 15,000.00 - - 15,000.00 - IS-0310 -
4/30/2020 None Journal Release Prepayment - (15,000.00) E E JC BS-0905 4/30/2020 - - (15,000.00) - - (15,000.00) - BS-0905 -
5/1/2020 Training Inc Invoice Course - 1,250.00 A E B1 IS-0380 5/31/2020 - - 1,086.96 163.04 - 1,250.00 - IS-0380 -
5/7/2020 City Lodge S50037 Accommodation - 990.00 A E B1 IS-0385 5/7/2020 - - 860.87 129.13 - 990.00 - IS-0385 -
5/7/2020 Waltons Invoice Stationery - 982.00 A E B1 IS-0365 6/6/2020 - - 853.91 128.09 - 982.00 - IS-0365 -
5/13/2020 XY Traders Invoice 9987 Commission - 5,750.00 A E B1 IS-0320 6/12/2020 - - 5,000.00 750.00 - 5,750.00 - IS-0320 -
6/26/2020 SA Airlines SA11235 Travel - 2,100.00 A E B1 IS-0385 6/26/2020 - - 1,826.09 273.91 - 2,100.00 - IS-0385 -
Page 40 of 50
7/17/2020 GF Supplies IN1181 Consumables - 2,875.00 A E B1 IS-0330 8/16/2020 - - 2,500.00 375.00 - 2,875.00 - IS-0330 -
7/25/2020 ACC Institute M00321037 Annual Membership - 5,980.00 A E B1 IS-0370 8/24/2020 - - 5,200.00 780.00 - 5,980.00 - IS-0370 -
8/21/2020 JSE Brokers Remittance Share investment - 30,750.00 E E B1 BS-0400 8/21/2020 - - 30,750.00 - - 30,750.00 - BS-0400 -
8/24/2020 XY Traders Invoice11203 Commission - 4,600.00 A E B1 IS-0320 9/24/2020 - - 4,000.00 600.00 - 4,600.00 - IS-0320 -
8/31/2020 Inland Revenue Return Provisional Tax - 59,975.72 E E B1 IS-0700 8/31/2020 - - 59,975.72 - - 59,975.72 - IS-0700 -
Page 41 of 50
9/13/2020 Training Inc Invoice Course - 1,300.00 A E B1 IS-0380 10/13/2020 - - 1,130.43 169.57 - 1,300.00 - IS-0380 -
9/18/2020 QA Attorneys Invoice Legal advice - 6,500.00 A E B1 IS-0360 9/18/2020 - - 5,652.17 847.83 - 6,500.00 - IS-0360 -
10/4/2020 GF Supplies IN1185 Consumables - 850.00 A E PC IS-0325 10/4/2020 - - 739.13 110.87 - 850.00 - IS-0325 -
10/31/2020 Example (Pty) Ltd Bank Statement Petty Cash Reimbursement - 1,068.00 E E B1 BS-0799 10/31/2020 - - 1,068.00 - - 1,068.00 - BS-0799 -
10/31/2020 Example (Pty) Ltd Bank Statement Petty Cash Reimbursement - (1,068.00) E E PC BS-0799 10/31/2020 - - (1,068.00) - - (1,068.00) - BS-0799 -
Page 42 of 50
11/5/2020 XY Traders Invoice 12987 Commission - 4,427.50 A E B1 IS-0320 12/5/2020 - - 3,850.00 577.50 - 4,427.50 - IS-0320 -
11/7/2020 SA Fruit Farms F0020 SAF9400 Strawberry Juice 4,500.00 144,900.00 A E B1 IS-0299 12/7/2020 STOCK - 126,000.00 18,900.00 - 144,900.00 28.00 BS-STG -
12/17/2020 Newscorp M00353051 Subscriptions - 120.00 A E B1 IS-0355 1/16/2021 - - 104.35 15.65 - 120.00 - IS-0355 -
12/22/2020 GF Supplies IN1192 Consumables - 648.00 A E PC IS-0325 12/22/2020 - - 563.48 84.52 - 648.00 - IS-0325 -
Page 43 of 50
1/26/2021 Training Inc Invoice Training - 2,100.00 A E B1 IS-0380 1/31/2021 - - 1,826.09 273.91 - 2,100.00 - IS-0380 -
2/1/2021 IS Communications Invoice EXP33 Internet Service Provider - 850.00 A E B1 IS-0375 - 850.00 739.13 110.87 - 850.00 - IS-0375 -
2/7/2021 SA Fruit Farms F0010 SAF9500 Apple Juice 15,100.00 55,568.00 A E B1 IS-0299 3/7/2021 STOCK 55,568.00 48,320.00 7,248.00 - 55,568.00 3.20 BS-STG -
2/7/2021 SA Fruit Farms F0015 SAF9500 Orange Juice 5,500.00 37,950.00 A E B1 IS-0299 3/7/2021 STOCK 37,950.00 33,000.00 4,950.00 - 37,950.00 6.00 BS-STG -
2/11/2021 Waltons Invoice Stationery - 289.00 A E B1 IS-0365 - 289.00 251.30 37.70 - 289.00 - IS-0365 -
2/15/2021 IAS Accountants Invoice Monthly Accounting - 2,300.00 A E B1 IS-0305 - 2,300.00 2,000.00 300.00 - 2,300.00 - IS-0305 -
2/26/2021 DF Equipment Invoice Office equipment - 11,730.00 A E B1 BS-0020 - 11,730.00 10,200.00 1,530.00 - 11,730.00 - BS-0020 -
2/26/2021 Example (Pty) Ltd Payroll Deductions - Staff - 7,200.00 E E B2 IS-0405 - 7,200.00 7,200.00 - - 7,200.00 - IS-0405 -
2/26/2021 Example (Pty) Ltd Payroll Deductions - Management - 9,320.00 E E B2 IS-0410 - 9,320.00 9,320.00 - - 9,320.00 - IS-0410 -
2/28/2021 XY Traders Invoice 14278 Commission - 17,250.00 A E B1 IS-0320 - 17,250.00 15,000.00 2,250.00 - 17,250.00 - IS-0320 -
2/28/2021 Inland Revenue Return Provisional Tax - 62,160.00 E E B1 IS-0700 2/28/2021 - - 62,160.00 - - 62,160.00 - IS-0700 -
2/28/2021 None Journal Depreciation - 18,232.00 E E JC IS-0505 2/28/2021 - - 18,232.00 - - 18,232.00 - IS-0505 -
2/28/2021 None Journal Depreciation - 12,190.00 E E JC IS-0505 2/28/2021 - - 12,190.00 - - 12,190.00 - IS-0505 -
2/28/2021 None Journal Depreciation - (18,232.00) E E JC BS-0115 2/28/2021 - - (18,232.00) - - (18,232.00) - BS-0115 -
2/28/2021 None Journal Depreciation - (12,190.00) E E JC BS-0120 2/28/2021 - - (12,190.00) - - (12,190.00) - BS-0120 -
2/28/2021 None Journal Dividend Declared - 78,500.00 E E JC IS-1000 2/28/2021 - - 78,500.00 - - 78,500.00 - IS-1000 -
2/28/2021 None Journal Dividend Declared - (78,500.00) E E JC BS-1405 2/28/2021 - - (78,500.00) - - (78,500.00) - BS-1405 -
2/28/2021 Google Card Online Marketing - 12,100.00 E E B3 IS-0310 - 12,100.00 12,100.00 - - 12,100.00 - IS-0310 -
Page 44 of 50
Income Statement 3/1/2019
© www.excel-skills.com 2/29/2020
Description Mar-2020 Apr-2020 May-2020 Jun-2020 Jul-2020 Aug-2020 Sep-2020 Oct-2020 Nov-2020 Dec-2020 Jan-2021 Feb-2021 Total 2021 Total 2020
Sales - Fruit Juice 182,400.00 174,000.00 186,190.00 186,420.00 185,680.00 198,755.00 190,250.00 199,800.00 217,860.00 204,825.00 220,680.00 223,385.00 2,370,245.00 -
Sales - Vegetable Juice 118,200.00 119,600.00 120,000.00 122,300.00 124,350.00 128,900.00 133,350.00 140,430.00 145,290.00 141,875.00 100,907.50 146,175.00 1,541,377.50 -
Total Turnover 300,600.00 293,600.00 306,190.00 308,720.00 310,030.00 327,655.00 323,600.00 340,230.00 363,150.00 346,700.00 321,587.50 369,560.00 3,911,622.50 -
Cost of Sales - Fruit Juice 85,640.92 81,692.14 86,375.02 87,181.52 88,152.43 90,843.88 89,370.53 91,881.54 105,880.39 97,555.36 108,017.25 110,502.87 1,123,093.85 -
Cost of Sales - Vegetable Juice 54,259.61 55,022.31 55,157.41 56,845.66 57,972.57 58,681.10 60,957.44 61,466.12 64,927.55 64,018.54 46,309.16 67,140.34 702,757.83 -
Cost of Sales - Direct Costs - - - - - - - - - - - - - -
Total Cost of Sales 139,900.52 136,714.45 141,532.44 144,027.19 146,125.00 149,524.98 150,327.97 153,347.66 170,807.94 161,573.91 154,326.41 177,643.21 1,825,851.68 -
Sales - Fruit Juice 96,759.08 92,307.86 99,814.98 99,238.48 97,527.57 107,911.12 100,879.47 107,918.46 111,979.61 107,269.64 112,662.75 112,882.13 1,247,151.15 -
Sales - Vegetable Juice 63,940.39 64,577.69 64,842.59 65,454.34 66,377.43 70,218.90 72,392.56 78,963.88 80,362.45 77,856.46 54,598.34 79,034.66 838,619.67 -
On this sheet:
Cost of Sales - Direct Costs - - - - - - - - - - - - - -
This monthly income statement is automatically compiled based on the transactions entered on
Total Gross Profit 160,699.48 156,885.55 164,657.56 164,692.81 163,905.00 178,130.02 173,272.03 186,882.34 192,342.06 185,126.09 167,261.09 191,916.79 2,085,770.82 -
the Income and Expenses sheets. No user input is required on this sheet. The monthly reporting
Sales - Fruit Juice 53.0% 53.1% 53.6% 53.2% 52.5% 54.3% 53.0% 54.0% 51.4% 52.4% 51.1% 50.5% 52.6% 0.0%
periods are determined based on the reporting year specified on the Setup sheet and includes 12
Sales - Vegetable Juice 54.1% 54.0% 54.0% 53.5%
monthly periods. Additional accounts can be added and the key53.4%in column A54.5%
determines 54.3% 56.2% 55.3% 54.9% 54.1% 54.1% 54.4% 0.0%
Total Gross Profit % 53.5%
whether 53.4% balances53.8%
individual account 53.3%
or account group 52.9%
totals are displayed. 54.4% 53.5% 54.9% 53.0% 53.4% 52.0% 51.9% 53.3% 0.0%
Other Income 1,860.01 1,500.65 1,770.23 2,010.21 2,580.23 2,351.24 2,234.21 2,695.89 2,927.25 1,937.45 2,466.23 3,272.25 27,605.85 -
Operating Expenses
Accounting Fees 1,982.61 2,000.00 2,000.00 2,000.00 2,000.00 2,000.00 2,000.00 2,000.00 2,000.00 2,000.00 2,000.00 2,000.00 23,982.61 -
Advertising & Marketing 10,000.00 24,800.00 11,020.00 10,500.00 10,850.00 11,400.00 10,600.00 10,350.00 10,240.00 10,580.00 11,203.00 12,100.00 143,643.00 -
Bank Charges 79.30 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 1,179.30 -
Commission - - 5,000.00 - - 4,000.00 - - 3,850.00 - - 15,000.00 27,850.00 -
Computer Expenses - 2,173.91 - - - - - 739.13 - 563.48 - - 3,476.52 -
Consumables & Cleaning - - - - 2,500.00 - - - - - - - 2,500.00 -
Entertainment - - - - - - - - - - - - - -
Insurance 317.22 320.00 320.00 320.00 320.00 320.00 320.00 320.00 320.00 320.00 320.00 320.00 3,837.22 -
Office Expenses 78.26 75.65 56.52 95.65 25.22 67.83 78.26 189.57 88.70 83.48 91.30 65.22 995.65 -
Office Rent 11,895.65 12,000.00 12,000.00 12,000.00 12,000.00 12,000.00 12,000.00 12,000.00 12,000.00 12,000.00 12,000.00 12,000.00 143,895.65 -
Postage 415.65 - - - - - - - - 104.35 - - 520.00 -
Professional & Legal Fees - - - - - - 5,652.17 - - - - - 5,652.17 -
Stationery - - 853.91 - 661.74 203.48 - 251.30 - 269.57 - 251.30 2,491.30 -
Subscriptions & Memberships - - - - 5,200.00 - - - - - - - 5,200.00 -
Telephone & Internet 730.43 739.13 739.13 739.13 739.13 739.13 739.13 739.13 739.13 739.13 739.13 739.13 8,860.87 -
Training - - 1,086.96 - - - 1,130.43 - - - 1,826.09 - 4,043.48 -
Travelling & Accommodation 104.35 - 860.87 1,826.09 - 2,191.30 4,886.96 3,834.78 - - - - 13,704.35 -
Utilities - - - - - - - - - - - - - -
Total Operating Expenses 25,603.48 42,208.70 34,037.39 27,580.87 34,396.09 33,021.74 37,506.96 30,523.91 29,337.83 26,760.00 28,279.52 42,575.65 391,832.13 -
Staff Costs
Salaries & Wages - Staff 42,200.00 42,200.00 42,200.00 42,200.00 42,200.00 42,200.00 42,200.00 42,200.00 42,200.00 84,400.00 42,200.00 42,200.00 548,600.00 -
Salaries & Wages - Management 54,320.00 54,320.00 54,320.00 54,320.00 54,320.00 54,320.00 54,320.00 54,320.00 54,320.00 88,200.00 54,320.00 54,320.00 685,720.00 -
Total Staff Costs 96,520.00 96,520.00 96,520.00 96,520.00 96,520.00 96,520.00 96,520.00 96,520.00 96,520.00 172,600.00 96,520.00 96,520.00 1,234,320.00 -
Other Expenses - - - - - - - - - - - - - -
Depreciation & Amortization
Depreciation - - - - - - - - - - - 30,422.00 30,422.00 -
Amortization - - - - - - - - - - - - - -
Total Depreciation & Amortization - - - - - - - - - - - 30,422.00 30,422.00 -
Profit / (Loss) before Interest & Tax 40,436.01 19,657.50 35,870.40 42,602.15 35,569.14 50,939.52 41,479.28 62,534.32 69,411.49 (12,296.46) 44,927.80 25,671.38 456,802.54 -
Interest Paid 1,666.67 1,645.14 1,623.44 1,601.56 1,579.49 1,557.24 1,534.81 1,512.19 1,489.38 1,466.38 1,859.85 1,831.09 19,367.24 -
Profit / (Loss) before tax 38,769.34 18,012.36 34,246.96 41,000.59 33,989.65 49,382.28 39,944.47 61,022.13 67,922.11 (13,762.84) 43,067.95 23,840.29 437,435.30 -
Taxation Paid - - - - - 59,975.72 - - - - - 62,160.00 122,135.72 -
Profit / (Loss) for the year 38,769.34 18,012.36 34,246.96 41,000.59 33,989.65 (10,593.44) 39,944.47 61,022.13 67,922.11 (13,762.84) 43,067.95 (38,319.71) 315,299.58 -
Dividends Paid - - - - - - - - - - - 78,500.00 78,500.00 -
Retained earnings for the year 38,769.34 18,012.36 34,246.96 41,000.59 33,989.65 (10,593.44) 39,944.47 61,022.13 67,922.11 (13,762.84) 43,067.95 (116,819.71) 236,799.58 -
Page 45 of 50
Cash Flow Statement
Description Mar-2020 Apr-2020 May-2020 Jun-2020 Jul-2020 Aug-2020 Sep-2020 Oct-2020 Nov-2020 Dec-2020 Jan-2021 Feb-2021 Total 2021
Cash flows from operating activities
Profit / (Loss) for the year 38,769.34 18,012.36 34,246.96 41,000.59 33,989.65 (10,593.44) 39,944.47 61,022.13 67,922.11 (13,762.84) 43,067.95 (38,319.71) 315,299.58
Interest Paid 1,666.67 1,645.14 1,623.44 1,601.56 1,579.49 1,557.24 1,534.81 1,512.19 1,489.38 1,466.38 1,859.85 1,831.09 19,367.24
Taxation Paid - - - - - 59,975.72 - - - - - 62,160.00 122,135.72
Adjustment for non-cash expenses:
Depreciation - - - - - - - - - - - 30,422.00 30,422.00
Amortization - - - - - - - - - - - - -
Reserves - - - - - - - - - - - - -
Changes in operating assets & liabilities On this sheet:
Inventory 14,421.22
This monthly cash 14,864.45
flow statement9,293.44 13,187.19
is automatically 1,105.00
compiled based on the 13,002.98 17,769.97 12,107.66 (104,567.06) (56,603.09) (12,627.59) 7,158.21 (70,887.62)
Trade Debtors automated
7,130.00 income11,132.00
statement and(6,520.50)
balance sheet (5,968.50)
balances. No user input is
(138.00) (6,894.25) 2,581.75 (3,519.00) (13,558.50) 14,403.75 (19,216.50) (98,409.50) (118,977.25)
Loans & Advances required on this sheet. -
12,000.00 - - - - - - - - - - 12,000.00
Other Debtors - 15,000.00 - - - - - - - - - - 15,000.00
Cash On Hand - - - - - - - - - - - - -
Trade Creditors 21,764.00 13,953.50 (2,265.90) (3,991.60) 11,899.00 (14,743.00) 6,314.00 3,570.00 151,539.15 (44,118.35) (59,545.80) (18,158.00) 66,217.00
Sales Tax 24,184.08 (33,383.38) 22,881.54 (19,526.37) 21,581.84 (20,223.26) 24,930.76 (23,483.29) 10,715.58 (20,800.39) 20,978.55 (13,870.00) (6,014.35)
Accruals - - - - - - - - - - - - -
Other Provisions - - - - - - - - - - - - -
Cash generated from operations 119,935.31 41,224.07 59,258.98 26,302.87 70,016.98 22,081.99 93,075.76 51,209.69 113,540.65 (119,414.54) (25,483.55) (67,185.90) 384,562.32
Interest Paid (1,666.67) (1,645.14) (1,623.44) (1,601.56) (1,579.49) (1,557.24) (1,534.81) (1,512.19) (1,489.38) (1,466.38) (1,859.85) (1,831.09) (19,367.24)
Taxation Paid - - - - - (59,975.72) - - - - - (62,160.00) (122,135.72)
Net cash from operating activities 118,268.64 39,578.93 57,635.54 24,701.31 68,437.49 (39,450.97) 91,540.95 49,697.50 112,051.27 (120,880.92) (27,343.40) (131,176.99) 243,059.36
Cash flows from investing activities
Property, Plant & Equipment - Cost - (15,450.00) - - - - - - - - - (10,200.00) (25,650.00)
Intangible Assets - Cost - - - - - - - - - - - - -
Investments - - - - - (30,750.00) - - - - - - (30,750.00)
Net cash used in investing activities - (15,450.00) - - - (30,750.00) - - - - - (10,200.00) (56,400.00)
Cash flows from financing activities
Shareholders' Contributions - - - - - - - - - - - - -
Dividends Paid - - - - - - - - - - - - -
Long Term Liabilities - Proceeds - - - - - - - - - - 50,000.00 - 50,000.00
Long Term Liabilities - Repayments (2,582.74) (2,604.27) (2,625.97) (2,647.85) (2,669.92) (2,692.17) (2,714.60) (2,737.22) (2,760.03) (2,783.03) (3,451.91) (3,480.68) (33,750.39)
Net cash from financing activities (2,582.74) (2,604.27) (2,625.97) (2,647.85) (2,669.92) (2,692.17) (2,714.60) (2,737.22) (2,760.03) (2,783.03) 46,548.09 (3,480.68) 16,249.61
Increase / (Decrease) in cash equivalents 115,685.90 21,524.66 55,009.57 22,053.46 65,767.57 (72,893.14) 88,826.35 46,960.28 109,291.24 (123,663.95) 19,204.70 (144,857.67) 202,908.97
Cash & cash equivalents at beginning of year 107,750.50 223,436.40 244,961.06 299,970.63 322,024.09 387,791.66 314,898.52 403,724.87 450,685.15 559,976.39 436,312.44 455,517.14 107,750.50
Cash & cash equivalents at end of year 223,436.40 244,961.06 299,970.63 322,024.09 387,791.66 314,898.52 403,724.87 450,685.15 559,976.39 436,312.44 455,517.14 310,659.47 310,659.47
Page 46 of 50
Balance Sheet
Description Feb-2020 Mar-2020 Apr-2020 May-2020 Jun-2020 Jul-2020 Aug-2020 Sep-2020 Oct-2020 Nov-2020 Dec-2020 Jan-2021 Feb-2021 Total 2021
ASSETS
Non-Current Assets
Property, Plant & Equipment - Cost 183,750.00 183,750.00 199,200.00 199,200.00 199,200.00 199,200.00 199,200.00 199,200.00 199,200.00 199,200.00 199,200.00 199,200.00 209,400.00 209,400.00
Property, Plant & Equipment - Accum Dep (34,500.00) (34,500.00) (34,500.00) (34,500.00) (34,500.00) (34,500.00) (34,500.00) (34,500.00) (34,500.00) (34,500.00) (34,500.00) (34,500.00) (64,922.00) (64,922.00)
Intangible Assets - Cost - - - - - - - - - - - - - -
Intangible Assets - Amortization - - - - - - - - - - - - - -
Investments 150,000.00 150,000.00 150,000.00 150,000.00 150,000.00 150,000.00 180,750.00 180,750.00 180,750.00 180,750.00 180,750.00 180,750.00 180,750.00 180,750.00
299,250.00 299,250.00 314,700.00 314,700.00 314,700.00 314,700.00 345,450.00 345,450.00 345,450.00 345,450.00 345,450.00 345,450.00 325,228.00 325,228.00
Current Assets
Inventory 270,692.00 256,270.78 241,406.33 232,112.89 218,925.70 217,820.70 204,817.73 187,047.76 174,940.09 279,507.16 336,110.25 348,737.84 341,579.62 341,579.62
On this sheet:
Trade Debtors 159,160.00
This 152,030.00
monthly balance 140,898.00 calculated
sheet is automatically 147,418.50
based on153,387.00 153,525.00
the transactions 160,419.25
entered on the 157,837.50 161,356.50 174,915.00 160,511.25 179,727.75 278,137.25 278,137.25
Loans & Advances 12,000.00
Income -
and Expenses sheets. -
No user input is required -on this sheet. Balance
- -
sheet balances are - - - - - - - -
Other Debtors 15,000.00based on
calculated 15,000.00 -
account groups by default -
but can also be included-individually by- changing - - - - - - - -
B1 Bank Account the45,250.50
key in column185,340.59
A. 203,299.60 249,503.94 268,972.19 331,629.53 255,975.15 352,582.29 410,531.68 516,560.67 384,525.27 411,783.74 259,516.82 259,516.82
B2 Bank Account 61,500.00 37,095.81 40,661.46 44,266.69 47,881.90 51,492.13 55,103.37 48,712.58 32,323.47 35,935.72 44,547.17 37,078.40 40,690.65 40,690.65
B3 Bank Account - - - 5,200.00 4,180.00 3,680.00 2,830.00 1,430.00 6,830.00 6,480.00 6,240.00 5,660.00 9,457.00 9,457.00
PC Petty Cash 1,000.00 1,000.00 1,000.00 1,000.00 990.00 990.00 990.00 1,000.00 1,000.00 1,000.00 1,000.00 995.00 995.00 995.00
GL Journal Control - - - - - - - - - - - - - -
Cash On Hand - - - - - - - - - - - - - -
564,602.50 646,737.18 627,265.39 679,502.02 694,336.79 759,137.36 680,135.50 748,610.13 786,981.74 1,014,398.55 932,933.94 983,982.72 930,376.34 930,376.34
Total Assets 863,852.50 945,987.18 941,965.39 994,202.02 1,009,036.79 1,073,837.36 1,025,585.50 1,094,060.13 1,132,431.74 1,359,848.55 1,278,383.94 1,329,432.72 1,255,604.34 1,255,604.34
EQUITY & LIABILITIES
Equity
Shareholders' Contributions 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
Reserves - - - - - - - - - - - - - -
Retained Earnings - Opening 545,172.50 545,172.50 545,172.50 545,172.50 545,172.50 545,172.50 545,172.50 545,172.50 545,172.50 545,172.50 545,172.50 545,172.50 545,172.50 545,172.50
Retained Earnings - Current - 38,769.34 56,781.70 91,028.66 132,029.25 166,018.91 155,425.47 195,369.94 256,392.07 324,314.17 310,551.34 353,619.29 236,799.58 236,799.58
545,272.50 584,041.84 602,054.20 636,301.16 677,301.75 711,291.41 700,697.97 740,642.44 801,664.57 869,586.67 855,823.84 898,891.79 782,072.08 782,072.08
Non-Current Liabilities
Long Term Liabilities 200,000.00 197,417.26 194,812.99 192,187.02 189,539.17 186,869.25 184,177.08 181,462.48 178,725.26 175,965.23 173,182.20 219,730.29 216,249.61 216,249.61
200,000.00 197,417.26 194,812.99 192,187.02 189,539.17 186,869.25 184,177.08 181,462.48 178,725.26 175,965.23 173,182.20 219,730.29 216,249.61 216,249.61
Current Liabilities
Trade Creditors 88,340.00 110,104.00 124,057.50 121,791.60 117,800.00 129,699.00 114,956.00 121,270.00 124,840.00 276,379.15 232,260.80 172,715.00 154,557.00 154,557.00
Accruals - - - - - - - - - - - - - -
Sales Tax 1 Control - National / Federal 30,240.00 54,424.08 21,040.70 43,922.24 24,395.87 45,977.71 25,754.45 50,685.20 27,201.91 37,917.49 17,117.10 38,095.65 24,225.65 24,225.65
Sales Tax 2 Control - State - - - - - - - - - - - - - -
Provision for Taxation - - - - - - - - - - - - - -
Dividends Payable - - - - - - - - - - - - 78,500.00 78,500.00
Other Provisions - - - - - - - - - - - - - -
118,580.00 164,528.08 145,098.20 165,713.84 142,195.87 175,676.71 140,710.45 171,955.20 152,041.91 314,296.64 249,377.90 210,810.65 257,282.65 257,282.65
Total Equity & Liabilities 863,852.50 945,987.18 941,965.39 994,202.02 1,009,036.79 1,073,837.36 1,025,585.50 1,094,060.13 1,132,431.74 1,359,848.55 1,278,383.94 1,329,432.72 1,255,604.34 1,255,604.34
Page 47 of 50
Bank Accounts
Bank Code B1 B1
Month Feb/2021 2/28/2021
Daily For Selected Month Monthly For Financial Year

Day Opening Income Expenses Closing Month Opening Income Expenses Closing
2/1/2021 411,783.74 - - 411,783.74 Mar/2020 45,250.50 354,786.50 (214,696.41) 185,340.59
2/2/2021 411,783.74 - (2,300.00) 409,483.74 Apr/2020 185,340.59 350,359.00 (332,399.99) 203,299.60
2/3/2021 409,483.74 - - 409,483.74 May/2020 203,299.60 347,449.50 (301,245.16) 249,503.94
2/4/2021 409,483.74 - - 409,483.74 Jun/2020 249,503.94 351,175.50 (331,707.25) 268,972.19
2/5/2021 409,483.74 - (15,368.00) 394,115.74 Jul/2020 268,972.19 359,173.75 (296,516.41) 331,629.53
2/6/2021 394,115.74 - - 394,115.74 Aug/2020 331,629.53 372,421.75 (448,076.13) 255,975.15
2/7/2021 394,115.74 3,570.75 (142,692.00) 254,994.49 Sep/2020 255,975.15 377,102.25 (280,495.11) 352,582.29
2/8/2021 254,994.49 - - 254,994.49 Oct/2020 352,582.29 390,655.00 (332,705.61) 410,531.68
2/9/2021 254,994.49 - - On this 254,994.49
sheet: Nov/2020 410,531.68 407,238.00 (301,209.01) 516,560.67
2/10/2021 254,994.49 This sheet
- contains an analysis
- of bank account movements
254,994.49 Dec/2020on a daily 516,560.67 415,145.40 (547,180.80) 384,525.27
2/11/2021 254,994.49 & monthly- basis. The appropriate
- bank account
254,994.49 and month can be
Jan/2021 384,525.27 353,254.13 (325,995.66) 411,783.74
2/12/2021 254,994.49 selected - at the top of the
- sheet 254,994.49
and all other Feb/2021
calculations are 411,783.74 330,155.25 (482,422.17) 259,516.82
2/13/2021 254,994.49 automated.
- - 254,994.49
2/14/2021 254,994.49 - - 254,994.49
2/15/2021 254,994.49 100,000.00 (80.00) 354,914.49
2/16/2021 354,914.49 - - 354,914.49
2/17/2021 354,914.49 - - 354,914.49
2/18/2021 354,914.49 - - 354,914.49
2/19/2021 354,914.49 - - 354,914.49
2/20/2021 354,914.49 59,570.00 (100,000.00) 314,484.49
2/21/2021 314,484.49 - - 314,484.49
2/22/2021 314,484.49 - - 314,484.49
2/23/2021 314,484.49 - - 314,484.49
2/24/2021 314,484.49 - - 314,484.49
2/25/2021 314,484.49 167,014.50 (140,635.40) 340,863.59
2/26/2021 340,863.59 - (19,111.77) 321,751.82
2/27/2021 321,751.82 - - 321,751.82
2/28/2021 321,751.82 - (62,235.00) 259,516.82
Page 48 of 50
Example (Pty) Limited Tax Type Tax Code 1 Tax Code 2
Sales Tax 0 * *
Sales Tax Inclusive Monthly Effective %
Month Opening Output Input Payment Closing Output Input Net Output Input
3/31/2020 30,240.00 45,346.50 (21,162.42) - 54,424.08 347,806.51 (261,014.61) 24,184.08 15.0% 8.8%
4/30/2020 54,424.08 44,247.00 (23,206.30) (54,424.08) 21,040.70 339,347.65 (342,908.49) 21,040.70 15.0% 7.3%
5/31/2020 21,040.70 46,170.00 (23,288.46) - 43,922.24 354,130.23 (290,334.26) 22,881.54 15.0% 8.7%
6/30/2020 43,922.24 46,584.00 (22,188.13) (43,922.24) 24,395.87 357,314.21 (325,300.65) 24,395.87 15.0% 7.3%
7/31/2020 24,395.87 46,866.75 (25,284.91) - 45,977.71 359,476.98 (305,470.41) 21,581.84 15.0% 9.0%
8/31/2020 45,977.71 49,476.00 (23,721.56) (45,977.70) 25,754.45 379,482.24 (430,738.13) 25,754.44 15.0% 5.8%
9/30/2020 25,754.45 48,850.50 (23,919.74) - 50,685.20 374,684.71 (294,754.11) 24,930.76 15.0% 8.8%
10/31/2020 50,685.20 51,414.00 (24,212.09) (50,685.20) 27,201.91 394,339.89 (347,430.61) 27,201.91 15.0% 7.5%
11/30/2020 27,201.91 54,886.50 (44,170.92) - 37,917.49 420,963.75 (449,653.16) 10,715.58 15.0% 10.9%
12/31/2020 37,917.49 52,270.65 (35,153.55) (37,917.49) 17,117.10 400,908.10 (494,857.45) 17,117.10 15.0% 7.6%
1/31/2021 17,117.10 48,583.13 (27,604.58) - 38,095.65 422,636.86 (324,669.86) 20,978.55 13.0% 9.3%
2/28/2021 38,095.65 55,899.75 (31,674.10) (38,095.65) 24,225.65 428,732.00 (457,022.17) 24,225.65 15.0% 7.4%
On this sheet:
This sheet contains a monthly sales tax analysis. All the calculations are automated. You can select the tax type and
any of the individual sales tax codes at the top of the sheet to view the output and input values for any tax type or
tax code. The template provides for two default tax types for national or federal sales tax and state sales tax.
Page 49 of 50
Gross Profit Analysis
Stock Code F0010 F0010
Description Apple Juice
Month Sales Cost of Sales Gross Profit Gross Profit % SP per Unit Cost per Unit Opening Qty Purchased Qty Sold Qty Closing Qty
Mar/2020 92,400.00 41,364.15 51,035.85 55.2% 7.00 3.13 13,740.00 12,000.00 13,200.00 12,540.00
Apr/2020 92,300.00 41,150.05 51,149.95 55.4% 7.10 3.17 12,540.00 11,500.00 13,000.00 11,040.00
May/2020 87,590.00 40,113.01 47,476.99 54.2% 6.95 3.18 11,040.00 12,220.00 12,600.00 10,660.00
Jun/2020 94,320.00 41,825.05 52,494.95 55.7% 7.20 3.19 10,660.00 13,500.00 13,100.00 11,060.00
Jul/2020 91,000.00 41,556.41 49,443.59 54.3%
On this sheet: 7.00 3.20 11,060.00 12,850.00 13,000.00 10,910.00
Aug/2020 97,680.00 This 42,218.36
sheet contains a 55,461.64
monthly gross profit 56.8%
analysis by stock 7.40
code. Aside from 3.20 10,910.00 11,400.00 13,200.00 9,110.00
Sep/2020 88,200.00 selecting the appropriate
40,312.19 stock code, no user54.3%
47,887.81 input is required.7.00
The calculations 3.20 9,110.00 15,000.00 12,600.00 11,510.00
Oct/2020 97,200.00 on this sheet make it54,003.74
43,196.26 easy to monitor the55.6%
gross profit percentages
7.20 & stock 3.20 11,510.00 14,200.00 13,500.00 12,210.00
Nov/2020 102,960.00 quantities for each stock
46,491.88 item.
56,468.12 54.8% 7.20 3.25 12,210.00 12,870.00 14,300.00 10,780.00
Dec/2020 98,280.00 43,989.41 54,290.59 55.2% 7.20 3.22 10,780.00 13,560.00 13,650.00 10,690.00
Jan/2021 104,400.00 46,540.04 57,859.96 55.4% 7.20 3.21 10,690.00 14,400.00 14,500.00 10,590.00
Feb/2021 102,960.00 45,816.93 57,143.07 55.5% 7.20 3.20 10,590.00 15,100.00 14,300.00 11,390.00
Page 50 of 50

Trading Accounting Sample

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EXCEL-SKILLS.

ACCOUNTING - TRADE BASED TEMPLATE

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enable editing to activate the link

The template includes the following sheets:

Sales Tax Codes

Input Error Codes

Chart Of Accounts & Trial Balance

Adding new bank accounts

Inventory Valuation & Movement

Recording Sales & Purchases

Recording Stock Adjustments

Recording Direct Costs

Recording of credit notes & supplier claims

Recording Transactions - Income

The Income sheet contains the following user input columns:

The Income sheet contains the following calculated columns:

Invoices with Multiple Lines

Trade Debtors Balances

Customer Account Statement

Recording Transactions - Expenses

The Expenses sheet contains the following user input columns:

The Expenses sheet contains the following calculated columns:

Trade Creditors Balances

Recording Transactions - Transfers between Bank Accounts

Recording Transactions - General Ledger Journal Entries

Turnover, Cost of Sales & Gross Profit

Cash Flow Statement

Balance Sheet Imbalances

We recommend completing the following steps when encountering errors:

Bank Account Movement Analysis

Sales Tax Analysis

Gross Profit Analysis

Roll Forward for Subsequent Financial Periods

Help & Customization

Year End Month February

Selling Price Input Exclusive Exclusive

Input Error Codes

Example (Pty) Limited

Invoice Number IN0059 Customer Code

Stock Code Description Unit Quantity Price Amount

Example (Pty) Limited

Customer Code FRV01

Outstanding Balance: 171,428.75

Current 30 Days 60 Days 90 Days 120 Days 120+ Days

Invoice Number Invoice Date Document Amount Balance

Daily For Selected Month Monthly For Financial Year

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