Monthly Management Accounts Template Free Excel Template

Excel Skills | Management Accounts Template
About this template

This template enables users to compile comprehensive monthly management accounts from any trial balance regardle
accounts that are included in the trial balance. The management accounts are compiled by linking each account in the tria
reporting class code and all the amounts that are included in the management accounts are automatically calculated based
The template includes an income statement, cash flow statement and balance sheet and compares the actual results to a f
year-to-date basis. Prior year results are also included on all the financial reports.
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ccounts from any trial balance regardless of the structure of the
mpiled by linking each account in the trial balance to a pre-defined
unts are automatically calculated based on the linked class codes.
et and compares the actual results to a forecast on a monthly and
are solutions than regular Excel templates. Most Excel templates

ports based on limited user input. You also don't need advanced
nput and include comprehensive step by step instructions.
ve created this sample to enable customers to view the layout and

emplate - the full version of the template can only be downloaded
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here click here
Instructions
www.excel-skills.com
This template enables users to compile comprehensive monthly management accounts from any trial balance regardless
of the structure of the accounts that are included in the trial balance. The management accounts are compiled by linking On this sheet:
each account in the trial balance to a pre-defined reporting class code and all the amounts that are included in the This sheet includes detailed instructions
management accounts are automatically calculated based on the linked class codes. The template includes an income on setting up and using this template.
statement, cash flow statement and balance sheet and compares the actual results to a forecast on a monthly and year-
to-date basis. Prior year results are also included on all the financial reports.
The following sheets are included in the template:

Set-up - enter your business name, enter the current reporting year, select the appropriate financial year end period and
select the current reporting period. The business name is used as a heading on all the sheets and the reporting period
selections are used to determine the monthly periods that need to be included on the trial balance & forecast sheets and
the periods on which the monthly and year-to-date calculations on the income statement, cash flow statement and balance
sheet reports need to be based.
This is the only protected
sheet in the full version of
the template!
Classes - this sheet contains all the pre-defined reporting classes that should be used to link the trial balance accounts on
the Key sheet to the calculations on the income statement, cash flow statement and balance sheet. The classes on this
sheet are provided in order to simplify the linking of accounts and are not linked to any of the other sheets. Changes that
are made to the pre-defined classes on this sheet will therefore have no effect on the template calculations.
Key - all the individual accounts that are included on the trial balance needs to be copied or entered onto this sheet and
each account number then needs to be linked to the appropriate reporting class. All the calculations on the income
statement, cash flow statement and balance sheet are automatically updated based on the reporting class that is linked to
each account on this sheet.
TBPY - all the account numbers and appropriate monthly account balances that are included in the trial balance for the
prior year reporting period needs to be included on this sheet. The reporting classes in column A can be added to each
account by simply copying the formula into all the rows that contain an account number. Note that the balance sheet
balances for the year before the prior year reporting period also need to be specified in order to facilitate accurate cash
flow calculations for the prior year financial period.
TBCY - all the account numbers and appropriate monthly account balances that are included in the trial balance for the
current reporting period need to be included on this sheet. The reporting classes in column A can be added to each
account by simply copying the formula into all the rows that contain an account number.
Forecast - a cumulative monthly forecast balance needs to be specified for each account that is included in the current
period trial balance on the TBCY sheet. Note that all the forecasted balances need to be entered on a cumulative basis
(the same basis which is used in order to compile any trial balance) in order for the forecast balances to be included
correctly on the income statement, cash flow statement and balance sheet reports. Income, equity & liability account
balances should be represented by negative values while expenses & asset balances should be represented by positive
values.
IS - this sheet contains an income statement which is automatically calculated based on the reporting classes that have
been linked to the accounts on the Key sheet. No user input is required on this sheet but you can customize the report if
necessary. The monthly & year-to-date periods for which the income statement is compiled is determined based on the
period selections on the Set-up sheet.
CFS - this sheet contains a cash flow statement which is automatically calculated based on the reporting classes that have
been linked to the accounts on the Key sheet. No user input is required on this sheet but you can customize the report if
necessary. The monthly & year-to-date periods for which the cash flow statement is compiled is determined based on the
period selections on the Set-up sheet.
BS - this sheet contains a balance sheet which is automatically calculated based on the reporting classes that have been
linked to the accounts on the Key sheet. No user input is required on this sheet but you can customize the report if
necessary. The monthly & year-to-date periods for which the balance sheet is compiled is determined based on the period
selections on the Set-up sheet.
ISMonth - this sheet contains a monthly income statement which is automatically calculated based on the reporting
classes that have been linked to the accounts on the Key sheet. No user input is required on this sheet but you can
customize the report if necessary. The monthly income statement is based on the actual results that are represented by
the account balances on the TBCY sheet and the monthly periods for which the income statement is compiled is
determined based on the period selections on the Set-up sheet.
TBCheck - when you copy a trial balance from another Excel workbook into this template, it is important to ensure that the
account numbers on the source worksheet are the same as the account numbers on the target trial balance worksheet.
We have therefore included this sheet to enable users to check whether their account number sequence is consistent with
the appropriate trial balance before copying the trial balance data into this template.
Page 3 of 27
Instructions
Set-up
On this sheet:
The input cells that contain a yellow cell background on the Set-up sheet need to be completed in order to include your This sheet includes detailed instructions
business name as a heading on all the appropriate sheets and to specify the appropriate reporting periods for which the on setting up and using this template.
management accounts need to be compiled. The cells with a light blue cell background contain formulas which should not
be replaced!
The appropriate year end period needs to be selected in cell B6. The year end month that is selected in this cell
determines which months are included in the year-to-date calculations and also determines which monthly periods are
included on the trial balance sheets & the monthly income statement on the ISMonth sheet.
The financial year for which the management accounts are compiled needs to be specified in cell B8. The year end date
that is displayed in cell B10 is determined based on the year end period that has been selected in cell B6 and the financial
year that has been entered in cell B8.
The current reporting period needs to be selected from the list box in cell B12. The months that are included in the list box
are determined by the year end and financial year selections in cells B6 and B8. The current reporting period that is
specified determines which monthly and year-to-date periods are included in the income statement, cash flow statement
and balance sheet reports. You can therefore change the period for which the management accounts are compiled by
simply selecting a new period from the list box in this cell.
The reporting period end date and the prior year reporting period which is displayed in cells B14 and B16 are determined
based on the current reporting period that is selected in cell B12. These cells contain formulas which should not be
replaced!
Note: If any of the user input cells on the Set-up sheet are not completed or if the data that is entered is invalid, the cell
background of the appropriate cell will be highlighted in red. A red cell background therefore indicates that you should
replace the data in the appropriate cell with valid input.
Example: If you change the financial year in cell B8 and the current reporting period which has been specified in cell B12
falls outside of the new financial year, the cell background of cell B12 will be highlighted in red in order to indicate that a
new current reporting period needs to be selected. When you select a valid period from the list box, the red highlighting
will be removed automatically.
Default Reporting Classes
The default reporting classes on which the management accounts are based have been included on the Classes sheet.
These reporting class codes and descriptions have been provided for information purposes only and are not linked to any
of the other sheets. We have only included this list of reporting classes in order to make it easier to understand to which
income statement and balance sheet categories the default reporting classes that are used in this template refers to.
Note: The default reporting classes that are used in this template are consistent with the default reporting classes which
are used in the Financial Statements template. This consistency therefore makes it easy to use the Management Accounts
template in conjunction with the Financial Statements template.
When users initially link each trial balance account to a reporting class on the Key sheet, users should therefore refer to
the Classes sheet in order to determine which reporting class code relates to which income statement or balance sheet
category.
Linking Classes to Accounts
All the general ledger accounts that form part of the trial balance should be linked to a reporting class in order to facilitate
compiling automated income statement, cash flow statement and balance sheet reports. The management accounts in
this template include actual results for the current financial period, forecasted results for the current financial period and a
comparison to prior year results which are all automatically calculated based on the account balances that are included on
the TBCY, Forecast and TBPY sheets.
Page 4 of 27
Instructions
The accounts that are included on these three trial balance sheets therefore all have to be linked to the appropriate
reporting classes. It is however essentially the same accounts that need be included on all three sheets and instead of On this sheet:
requiring users to link accounts to reporting classes on all three sheets, we have set up a separate sheet for this purpose This sheet includes detailed instructions
and included a formula in column A on the three trial balance sheets in order to look up the appropriate reporting classes on setting up and using this template.
from this sheet.
All the account numbers that are included in the trial balance as well as the appropriate account descriptions therefore
need to be entered or copied onto the Key sheet in columns A and B. Users then need to link each account to the
appropriate reporting class in column C (refer to the Classes sheet for the appropriate codes and descriptions that can be
used to link an account to an income statement or balance sheet category).
Note: All the entries on the Key sheet must form part of a continuous cell range - you should not add any blank rows
between rows that contain data otherwise the formula in column D will not flag all the invalid reporting class codes that are
included in column C.
Note: We strongly recommend using the default reporting class structure that we have provided on the Classes sheet
because these codes have been included in column A on the income statement, cash flow statement and balance sheet
reports. If you change the reporting codes on the Classes sheet, it will therefore have no effect on the template
calculations.
You can use any trial balance regardless of whether the account format is consistent with our standard template or not.
Our default account numbers have been derived from our accounting templates account format but can be replaced with
the appropriate account format which is used in your own trial balance by simply entering or copying your data over our
default data. Each account should then be linked to our default reporting classes which creates the consistency that is
required in order for the reports to be automatically compiled.
Note: We strongly recommend sticking to the default reporting classes that we have listed on the Classes sheet when
linking accounts otherwise you will also need to enter the new reporting codes in column A on the income statement, cash
flow statement and balance sheet reports.
It is important to note that all the accounts that are included in the trial balance should be linked to a valid reporting class
otherwise the template calculations may not be accurate and the management accounts may therefore not balance. We
have added a formula in column D which should be copied for all the new rows that are added to the Key sheet.
The formula in the Status column displays a nil value if the class code in column C is included on the income statement,
cash flow statement or balance sheet and displays a value of 1 if the class code is not included on any of these reports (in
column A on the IS, CFS or BS sheets). If a reporting code is not included on any of these sheets, it probably means that
the code that has been specified in column C is invalid.
Note: The column heading of the Status column will also be highlighted in red if an invalid status code is present in this
column. All invalid status codes (with values of 1) should be investigated and amended if necessary in order to ensure that
all accounts are linked to valid reporting class codes.
Note: If you create new main or sub reporting codes and you don't include the new codes on either the income statement,
cash flow statement or balance sheet, the new reporting codes will be flagged as invalid on the Key sheet. We therefore
recommend that you only create new reporting codes if a new line item is required on one of these reports.
New Reporting Class Codes
If you require additional lines to be included on the income statement, cash flow statement or balance sheet, you may
need to create additional reporting codes as main income statement or balance sheet categories or as sub codes below
the existing reporting class codes.
Page 5 of 27
Instructions
If the account category that you want to create forms part of the income statement or balance sheet and it is not provided On this sheet:
for on the Classes sheet, you can create a new reporting code and link it to the appropriate accounts on the Key sheet. All This sheet includes detailed instructions
new income statement codes should however start with "I-" and all new balance sheet codes should start with "B-". You on setting up and using this template.
should also ensure that the new code that you create does not clash with any of the existing reporting class codes.
Example: If we want to create a new reporting class code for short term loans, we would assign a code of "B-SLOANS" to
this balance sheet category. The new code does not clash with any of the existing reporting class codes because there is
no shorter class code which contains essentially the same characters. A new code of "B-LOANSH" will however clash with
the long term loans reporting class ("B-LOAN") because the first 6 characters are the same (reporting classes which clash
may lead to inaccuracies in the template calculations). We therefore recommend that you ensure that at least the first four
characters of a new reporting class are unique when compared to the default reporting classes.
Note: New reporting classes are essentially created when the appropriate classes are entered in column C on the Key
sheet thereby linking the new code to the appropriate account number. It is not required to add the new reporting class to
the Classes sheet but it may be a good idea to do so if you want other users to be able to easily understand to which
income statement or balance sheet category each reporting class refers to.
An unlimited number of new reporting class sub codes can also be created by simply linking the relevant accounts to the
appropriate sub code. In terms of the standard template design, new sub codes may be required in order to increase the
number of individual expense accounts which are included on the income statement or to add an additional line item to the
cash flow statement.
Example: The standard template provides for 21 individual expense accounts on the income statement which have been
linked to 21 sub reporting classes - 19 accounts which have been linked to the "I-ADM" income statement class, 1 account
which has been linked to the "I-ADV" income statement class and 1 account which has been linked to the "I-OTX" income
statement class. These sub codes have been created by simply adding a two digit number to the main reporting class
code and the individual sub codes have then been included in column A on the IS sheet (which contains the income
statement). We can therefore add 10 additional expense accounts to the income statement by simply linking sub codes "I-
ADM20" to "I-ADM29" to the appropriate accounts on the Key sheet, inserting 10 new rows on the income statement,
entering the new sub codes in column A and copying the formulas in all the other columns from one of the existing
expense account rows.
Example: If we wanted to add an additional line item to the cash flow statement, the same principle would essentially be
followed but the sub code that we would create would not necessarily be included as an individual item on the income
statement. If we wanted to add back a profit on a revaluation which has been included in the "Other income" income
statement category (with a main class code of "I-REVO"), we can simply link the appropriate account on the Key sheet to
a sub class of "I-REVO01", insert the appropriate new row on the cash flow statement, enter the new sub code in column
A and copy the formulas from one of the existing rows for a similar item. The individual account balance will then be
included on the cash flow statement but the account will still form part of the Other Income line on the income statement.
Prior Year Trial Balance
A complete trial balance for the prior year financial period should be copied or entered onto the TBPY sheet. The account
balances that are included on this sheet are used to update the "Prior Year" columns on the income statement, cash flow
statement and balance sheet reports.
Note: All the accounts that are included in your trial balance should be entered in a continuous cell range on the TBPY
sheet - there should not be any blank rows between rows that contain data otherwise all the accounts may not be included
in the management accounts calculations and your balance sheet may therefore not balance!
The reporting class in column A and the account description in column C are automatically looked up based on the entries
on the Key sheet. The formulas which have been included in these columns therefore need to be copied for all the rows
on the TBPY sheet which contain account numbers in column B.
Page 6 of 27
Instructions
Note: If an account number is included in the trial balance but the account number has not been linked to a valid reporting On this sheet:
class on the Key sheet, the appropriate cell in column A will contain a "no key!" message and the column heading in This sheet includes detailed instructions
column A will be highlighted in red. If any of the three trial balance sheets contain accounts that are not linked to valid on setting up and using this template.
reporting classes, your management accounts may not balance. If the "no key!" message is therefore encountered, you
should add the appropriate account number to the Key sheet and link the account number to a valid reporting class. Once
this step has been completed, the red highlighting in the column heading cell will be removed automatically.
The monthly periods that are included in the column heading row are automatically determined based on the financial year
end and reporting year that are specified in cells B6 and B8 on the Set-up sheet. All the appropriate account balances for
these monthly periods need to be entered or copied into the cells in the appropriate columns but you should not edit any of
the column heading cells! If you want to change the dates that are included in the column headings, you should do so by
changing the reporting period selections on the Set-up sheet.
The monthly management accounts can only be as accurate as the trial balance data that is included on the three trial
balance sheets. If your trial balance therefore does not balance, your monthly management accounts will also not balance!
You should therefore always ensure that all the monthly totals that we have included above the column heading row equal
nil - we have also added conditional formatting to these cells which highlights all the monthly totals that are not equal to nil
in red.
Note: You may notice that while you are adding accounts to the trial balance on this sheet (by inserting new rows in the
appropriate location based on the account number sequence), the totals are highlighted in red - this formatting simply
indicates that empty rows have been inserted and will automatically disappear when an account number is entered in
column B for all the blank rows.
Note: If you are setting up management accounts for a new business with no prior financial year, we recommend that you
still add all the trial balance accounts to the TBPY sheet but that you include nil values in all the monthly columns. This will
ensure that all the "Prior Year" columns in the management accounts reflect nil values.
You may notice that the TBPY sheet includes an additional column that has a column heading which has been formatted
with an orange cell background and contains the date of the year end month which precedes the prior financial year. This
column is required in order to produce accurate cash flow statement calculations for the prior financial year.
It is not necessary to include a complete trial balance for this period in column D - you can only include the appropriate
balance sheet account balances as at the end of this period (income statement accounts can be omitted). The trial
balance will however only balance if the retained earnings balance as at the end of this period is included in the account
which is linked to the retained earnings reporting class.
Note: A trial balance usually only includes the retained earnings balance at the beginning of the appropriate financial
period because the profit or loss for the current financial period is in effect included in the individual income statement
account balances but because we are not including the income statement accounts in this column, the retained earnings
account balance needs to be adjusted in order to reflect the retained earnings balance at the end of the financial period.
This adjustment is therefore only required in this column - no adjustments are required for any of the other trial balances
which form part of this template.
Note: You can check the adjusted retained earnings balance by comparing it to the retained earnings account balance for
the subsequent months on the TBPY sheet - the retained earnings balance in column D should be the same as the
retained earnings account balances in columns E to P. This is because these columns include the retained earnings
balance at the beginning of the prior financial year which will be the same balance as at the end of the month in column C.
Current Year Trial Balance
A complete trial balance for the current financial period should be copied or entered onto the TBCY sheet. The account
balances that are included on this sheet are used to update the "Actual" columns on the income statement, cash flow
statement and balance sheet.
Page 7 of 27
Instructions
Note: All the accounts that are included in your trial balance should be entered in a continuous cell range on the TBCY
sheet - there should not be any blank rows between rows that contain data otherwise all the accounts may not be included On this sheet:
in the management accounts calculations and your balance sheet may therefore not balance! This sheet includes detailed instructions
on setting up and using this template.
on the TBCY sheet which contain account numbers in column B.
Note: If an account number is included in the trial balance but the account number has not been linked to a valid reporting
class on the Key sheet, the appropriate cell in column A will contain a "no key!" message and the column heading in
column A will be highlighted in red. If any of the three trial balance sheets contain accounts that are not linked to valid
end and reporting year that are specified in cells B6 and B8 on the Set-up sheet. All the appropriate account balances for
these monthly periods need to be entered or copied into the cells in the appropriate columns but you should not edit any of
the column heading cells! If you want to change the dates that are included in the column headings, you should do so by
in red.
Forecast Trial Balance
A complete trial balance for the current financial period forecast or budget should be copied or entered onto the Forecast
sheet. The account balances that are included on this sheet are used to update the "Forecast" columns on the income
statement, cash flow statement and balance sheet.
Note: All the accounts that are included in your trial balance should be entered in a continuous cell range on the Forecast
sheet - there should not be any blank rows between rows that contain data otherwise all the accounts may not be included
in the management accounts calculations and your balance sheet may therefore not balance!
on the Forecast sheet which contain account numbers in column B.
Note: If an account number is included in the trial balance but the account number has not been linked to a valid reporting
class on the Key sheet, the appropriate cell in column A will contain a "no key!" message and the column heading in
column A will be highlighted in red. If any of the three trial balance sheets contain accounts that are not linked to valid
Page 8 of 27
Instructions
end and reporting year that are specified in cells B6 and B8 on the Set-up sheet. All the appropriate account balances for On this sheet:
these monthly periods need to be entered or copied into the cells in the appropriate columns but you should not edit any of This sheet includes detailed instructions
the column heading cells! If you want to change the dates that are included in the column headings, you should do so by on setting up and using this template.
in red.
Important: Trial balances are always compiled on a cumulative basis - this means that the monthly movement in account
balances are added together when calculating the appropriate month end trial balance amounts. Forecasts are however
usually not compiled on a cumulative balance basis which means that you may have to convert your forecast balances to
cumulative balances before copying or entering the appropriate balances on the Forecast sheet otherwise your
management accounts will not be accurate (this conversion is usually only necessary for income statement accounts
because balance sheet account balances are always cumulative).
Income Statement
The income statement on the IS sheet is automatically compiled based on the trial balances that are included on the
TBCY, TBPY and Forecast sheets and the financial reporting periods that have been specified on the Set-up sheet. All the
amounts in the Forecast columns are calculated from the Forecast sheet, all the amounts in the Actual columns are
calculated from the TBCY sheet and all the amounts in the Prior Year columns are calculated from the TBPY sheet.
The income statement is calculated automatically and no user input is required on this sheet. If you want to change the
period for which the monthly and year-to-date balances are calculated, you need to select a new current reporting period
from the list box in cell B12 on the Set-up sheet.
The monthly section is based on the appropriate month which has been selected and the year-to-date section is based on
all the months from the beginning of the financial year up to the selected period. Note that the financial year end month is
also specified on the Set-up sheet.
The calculated amounts for each individual line item on the income statement are based on the reporting classes that
have been entered in column A. Most of these line items are based on main reporting classes but we have provided for
sub classes to be included in the Expenses section in order to include expense items individually on the income
statement.
Expense Accounts
The standard template provides for 21 individual expense accounts to be included on the income statement. All of the
appropriate expense accounts have therefore been linked to 21 sub reporting classes on the Key sheet - 19 accounts
have been linked to the "I-ADM" income statement class, 1 account has been linked to the "I-ADV" income statement
class and 1 account has been linked to the "I-OTX" income statement class.
These sub codes have been created by simply adding a two digit number to the main income statement reporting class
codes (as per the Classes sheet). As with all the other income statement calculations, the line items on the income
statement are calculated based on the reporting class code in column A. The formulas in each line in the expenses section
of the income statement are therefore exactly the same - it is only the code in column A which differs from line to line.
Page 9 of 27
Instructions
When you initially start using the template, you can link the expense accounts that you want to include individually on the
income statement to these pre-defined sub classes or you can create your own expense reporting classes by linking the On this sheet:
appropriate accounts on the Key sheet to your class codes and then entering the appropriate class codes in column A on This sheet includes detailed instructions
the IS sheet. on setting up and using this template.
Note: It should not be too complex to change the format of the reporting classes in the expenses section of the income
statement but we don't recommend changing the default reporting codes for the other income statement and balance
sheet categories because this may result in inaccurate template calculations!
You can add an unlimited number of additional expense accounts to the income statement quite easily - simply insert the
appropriate number of additional rows, enter a new reporting class sub code in column A, link the new reporting class to
the appropriate expense account on the Key sheet and copy the formulas in columns B to M from one of the other rows in
the expenses section. All the income statement calculations will be updated automatically and the description of the
expense will be updated based on the expense account description which has been included on the Key sheet.
Note: If you don't require all 21 expense line items which have been included in the standard template, you can delete the
items that you do not require by simply deleting the appropriate rows on the IS sheet.
Cash Flow Statement
The cash flow statement on the CFS sheet has been designed on the same basis as the income statement on the IS
sheet. The cash flow statement is automatically compiled based on the account balances that are entered on the TBPY,
TBCY and Forecast sheets. No user input is required on this sheet and the reporting period is based on the current
reporting period selection in cell B12 on the Set-up sheet.
If you want to remove a line from the cash flow statement, we strongly recommend that you hide the appropriate line
instead of deleting it. If you delete cells which are used in some of the other cash flow statement calculations, you may
encounter a calculation error in some of the other rows on the report.
You can also add lines to the cash flow statement by simply inserting a new row, entering the appropriate reporting code
on which the calculation should be based in column A and copying the formulas from one of the other similar lines on the
cash flow statement.
Example: If we wanted to add another non-cash expense line to the cash flow statement, we would insert a new row below
the amortisation expense in row 14, enter the reporting class to which the new non-cash expense account has been linked
on the Key sheet in column A, enter a description for the non-cash transaction in column B and copy the formulas in row
14 into the new blank row (for columns C to M).
New cash flow statement items need to be added to the CFS sheet by using a reporting class sub code which is
consistent with the code that has been used to add the appropriate item to the income statement or balance sheet. This
will ensure that the appropriate item is also updated on the income statement or balance sheet. You may also need to the
review the reporting codes of the items which form part of the cash flow statement in the standard template in order to
ensure that the correct reporting class codes have been specified in column A.
Example: If the depreciation account has been linked to a different reporting class sub code on the income statement, the
default reporting class code in the depreciation line of the cash flow statement will need to be amended. If an additional
other income item needs to be added to the cash flow statement, a sub code under the "I-REVO" reporting class needs to
be created for this purpose, for example "I-REVO08". If the sub code which is created is not already included on the
income statement, your balance sheet will probably not balance.
We have included a control total at the bottom of the CFS sheet in order to check whether the cash balance at the end of
the financial period agrees to the cash balance on the balance sheet. If the control total in row 45 does not agree to the
closing balance at the end of the period, the appropriate closing balance will be highlighted in red. The highlighting will
only be removed once the imbalance has been rectified.
Page 10 of 27
Instructions
Balance Sheet
On this sheet:
The balance sheet on the BS sheet has been designed on the same basis as the income statement on the IS sheet. The This sheet includes detailed instructions
balance sheet is automatically compiled based on the account balances that are entered on the TBPY, TBCY and on setting up and using this template.
Forecast sheets. No user input is required on this sheet and the reporting period is based on the current reporting period
selection in cell B12 on the Set-up sheet.
If you want to remove a line from the balance sheet, we strongly recommend that you hide the appropriate line instead of
deleting it. If you delete cells which are used in some of the other balance sheet calculations, you may encounter a
calculation error in some of the other rows or on the cash flow statement.
You can also add additional lines to the balance sheet by simply inserting a new row, entering the appropriate reporting
code on which the calculation should be based in column A and copying the formulas from one of the other similar lines on
the balance sheet.
Example: If we wanted to add another current liability line to the balance sheet, we would insert a new row at the
appropriate location in the current liabilities section of the balance sheet, enter the reporting class to which the new current
liability category has been linked on the Key sheet in column A, enter a description for the current liability in column B and
copy the formulas from one of the other current liability categories into the new blank row (for columns C to M).
Note: It is imperative that the new reporting class that is used for the new line on the balance sheet does not clash with
any of the default reporting classes. Refer to the Linking Classes to Accounts section of these instructions for more
information about the calculation errors that may be encountered when reporting classes clash.
We have added conditional formatting to the rows that contain the total assets and total equity & liabilities calculations in
order to highlight the appropriate cells in red if the balance sheet does not balance. Refer to the Troubleshooting section
of these instructions for information on the cause of balance sheet imbalances. Once all the errors are fixed, the red
highlighting will be removed automatically.
Monthly Income Statement
The monthly income statement on the ISMonth sheet is automatically compiled based on the account balances that are
entered on the TBCY sheet. No user input is required on this sheet and the reporting period is based on the current
reporting period selection in cell B12 on the Set-up sheet.
The calculated amounts for each individual line item on the monthly income statement are based on the reporting classes
that have been entered in column A. Most of these line items are based on main reporting classes but we have provided
for sub classes to be included in the Expenses section in order to include expense items individually on the income
statement.
Note: If you've amended the accounts and reporting class codes which are included in the Expenses section of the income
statement on the IS sheet, the same amendments should also be implemented on the ISMonth sheet in order for both
income statements to be calculated consistently.
Trial Balance Check
If you use a trail balance export file in order to compile management accounts, the trial balance export file will have to be
amended so that the account numbers are in the exact same order as the accounts on the appropriate trial balance sheet
before you will be able to copy the account balances onto the appropriate sheet. This is a necessity in order to ensure that
the correct account balances are included next to the correct account numbers.
New accounts may also have been added during the current financial period which may not be included in the previous
trial balance on the TBCY sheet. These accounts therefore need to be identified and inserted in the correct row position
before the account balances can be copied. This could be quite a time consuming exercise and we have therefore added
the TBCheck sheet to assist users in simplifying this exercise.
Page 11 of 27
Instructions
Note: All the accounts that are included on the TBCheck sheet should form part of a continuous cell range - there should
not be any blank rows between rows that contain data otherwise all the account balances may not be included in the total On this sheet:
calculation above the column heading row. This sheet includes detailed instructions
on setting up and using this template.
The following steps need to be completed in order to ensure that the relevant trial balance is correctly included on the
appropriate trial balance sheet:
■ Select the trial balance that you need to amend from the list box in cell E3. You can select the Current option in order to
check the account sequence on the TBCY sheet, the Prior option to check the account number sequence on the TBPY
sheet or the Forecast option to check the account number sequence on the Forecast sheet.
■ Sort the data on the appropriate trial balance sheet (TBCY, TBPY or Forecast sheet) in an ascending order based on
the account numbers in column B.
■ Sort the data in the trial balance export file in an ascending order based on the account number column.
■ Copy the account number and account balance from the export file and paste the data into column A and B on the
TBCheck sheet (replace the existing data on this sheet).
■ Copy the formula in cell C6 and paste it into all the rows that contain an account number in column A. Note that all the
cells in column C will now contain formulas and formatting which will assist you in identifying the changes that need to be
made to the existing account structure on the TBCheck sheet before the account balances can be copied onto the
appropriate trial balance sheet.
■ Review the contents in column C - a row that contains a green "ok" cell is in the correct sequence but if an "error!" is
displayed in orange, it means that the sequence of accounts on the TBCheck sheet is not the same as the sequence of
accounts on the appropriate trial balance sheet.
■ Check the contents of all the rows that contain errors by comparing the account sequence on the TBCheck sheet to the
account sequence on the appropriate trial balance sheet (TBCY, TBPY or Forecast).
■ Where an account number is included on the TBCheck sheet but not on the trial balance sheet, determine whether the
account number has been included on the Key sheet. If the account number cannot be found on the Key sheet, insert a
new row in the appropriate location on the Key sheet, add the account number and account description to the Key sheet
and link the account to a valid reporting class code.
■ Then also insert a new row on the appropriate trial balance sheet (TBCY, TBPY or Forecast), copy the account number
into column B and enter a nil value into all the columns on the trial balance sheet. After completing these steps, the error
in the particular row will automatically be removed from the TBCheck sheet.
■ Where an account is included on the appropriate trial balance sheet but not on the TBCheck sheet, insert a new row on
the TBCheck sheet, copy the account number from the appropriate TB sheet and paste it into column A, enter a nil value
in column B and copy the formula in column C from one of the existing cells in column C. Column C should now contain a
green "ok" message.
■ Repeat the previous three steps until the TBCheck sheet contains no errors.
■ Ensure that the total of the amounts in column B on the TBCheck sheet is nil - the total calculation is included in the row
above the column headings. If the total of all the account balances on the TBCheck sheet is not nil, the difference will be
reflected in red in the cell above the column headings with an "error!" message next to it (note that blank rows may cause
an inaccurate total calculation).
■ If the total row contains a nil value, the amounts in column B can be copied and pasted as values into the appropriate
column on the relevant trial balance sheet (TBCY, TBPY or Forecast). After completing this step, the appropriate trial
balance has successfully been included in the template.
Roll Forward
The following steps need to be completed in order to roll the management accounts template forward for the next financial
period:
■ Save the workbook under a new file name in order to create an exact copy of the template which can be used for the
next financial period (use the File Save As feature).
■ Open the TBPY sheet and copy the account balances in column P into column C. This step effectively transfers the prior
financial period account balances into the period which precedes the prior financial period.
■ Compare the account number sequence on the TBPY and TBCY sheets and ensure that all the accounts that are
included on the TBCY sheet have also been added to the TBPY sheet. The account number sequence on both of these
sheets should be exactly the same.
■ Open the TBCY sheet and copy all the account balances in columns D to O into columns E to P on the TBPY sheet (but
do not copy the column heading row!). This effectively transfers the current financial period account balances into the prior
year financial period.
■ Open the TBCY sheet and replace all the existing account balances with nil values in order to replace the results for the
previous financial period with nil values.
Page 12 of 27
Instructions
■ Open the Forecast sheet and replace the forecast for the previous financial period with the forecast for the current
financial period (you may have to use the TBCheck sheet for this purpose).
On this sheet:
■ Open the Set-up sheet and change the reporting year in cell B8 to the current reporting year. This sheet includes detailed instructions
■ Select the first monthly period from the list box in cell B12. on setting up and using this template.
■ Check that the Actual columns on the IS sheet now contain nil values. Also check that the Forecast and Prior Year
columns contain values and that all the balance sheets balance. If you encounter any imbalances, refer to the
Troubleshooting section of these instructions.
■ The monthly trial balances for the current financial period can now be added to the TBCY sheet after each month end
and the template has now effectively been rolled forward for the new financial year.
Troubleshooting
The following troubleshooting steps need to be completed if any of the balance sheets that are included on the BS sheet
are not in balance:
■ Check whether the total for the appropriate trial balance is nil (refer to the totals above the column heading row on the
appropriate sheet). If the balance sheet in the Prior column does not balance, refer to the trial balance on the TBPY sheet;
if the balance sheet in the Forecast sheet does not balance, refer to the Forecast sheet and if the balance sheet in the
Actual column does not balance, refer to the TBCY sheet.
■ Open the Key sheet and check whether there are any rows which do not contain a nil value in the Status column. If the
status for any account number is 1, it means that the account has been linked to a reporting class which does not form
part of the income statement, cash flow statement or balance sheet reports. This may therefore mean that the appropriate
account has been linked to an invalid reporting class. All invalid reporting classes need to be amended and there should
be no accounts on the Key sheet which contain a status of 1.
■ Review all three trial balance sheets (TBPY, TBCY and Forecast sheets) and ensure that there are no "no key!" error
messages in column A. If the Code column heading is highlighted in red, it indicates that a "no key!" message is present in
the column. These error messages indicate that the appropriate account has not been included on the Key sheet and is
therefore not linked to a valid reporting class. The errors can be fixed by adding the account to the Key sheet and linking it
to a valid reporting class.
■ Open the IS sheet and check whether all your expense accounts have been added to the Expenses section on the
income statement. If an expense account is omitted, the appropriate balance sheet will not balance. Also make sure that
all the expense accounts on the IS sheet have been added to the ISMonth sheet.
■ If you encounter a #REF! error in the management accounts, it means that you've deleted a row which is used in the
formulas that have been included in another row. As we stated earlier on in these instructions, you should rather hide a
row instead of deleting it in order to remove the appropriate row from the management accounts. If you've deleted a row
which you shouldn't have, you may have to revert back to the downloaded copy of the template or contact our support
function for assistance.
■ If your balance sheets all balance but your cash balance at the end of the period does not agree to the cash balance on
the balance sheet, check that the retained earnings balance in the first column on the TBPY sheet equals the retained
earnings for the other monthly periods on this sheet. If these balances are not equal, you may encounter an imbalance on
the cash flow statement.
■ If you've added new reporting classes to the template, check whether all of your new reporting classes have been
included on the income statement, cash flow statement and balance sheet reports. All reporting classes that have been
linked to accounts on the Key sheet should form part of the management accounts.
■ Once you have completed the above steps and you still have an imbalance on any of your balance sheets, contact our
Support function for assistance.
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.
Page 13 of 27
Instructions
© Copyright
On this sheet:
This sheet includes detailed instructions
This template remains the intellectual property of www.excel-skills.com and is protected by international copyright laws. on setting up and using this template.
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 14 of 27
Management Accounts Template
Set-up
© www.excel-skills.com
Business Name ABC Trading (Pty) Limited
Year End Period February

On this sheet:
Reporting Year 2016 Enter your business name and select the appropriate year end period,
reporting year and current reporting period. The periods that are selected on
this sheet determine which monthly periods are included on the trial balances
Year End Date 29 February 2016 and forecast and also determine the current month and year-to-date periods
that are included on the income statement, cash flow statement and balance
Current Reporting Period Feb-2016 sheet reports.
Reporting Period End Date 29 February 2016
Prior Year Reporting Period Feb-2015
January
February
March
April
May
June
July
August
September
October
November
December
Page 15 of 27
Default Reporting Classes
Class Description
Income Statement
I-REVS Sale of goods
I-REVO Other revenue
I-COS Cost of sales
On this sheet:
I-DIS Distribution costs
This sheet contains all the default financial statement reporting classes that should be used in
I-ADV Advertising & marketing costs order to link the accounts on the Key sheet to the calculations on the income statement, cash
I-ADM Administrative expenses flow statement and balance sheet reports. The default classes are provided in order to simplify
I-OTX Other expenses the linking of accounts and are consistent with the classes that are used in the Financial
I-FIN Finance costs Statements template which therefore makes it easy to use this template in conjunction with the
Financial Statements template. The cells in column A are not linked to the class codes on the
I-TAX Income tax expense
report sheets - changing the default classes on this sheet will therefore have no effect on the
I-DIV Dividends template calculations.
Balance Sheet - Assets
B-PPE Property, plant & equipment
B-IPA Intangible assets
B-VEST Investments
B-DTAX Deferred tax
B-INV Inventory
B-DEBT Trade debtors
B-CASH Cash on hand
B-BANK Cash at bank
Balance Sheet - Equity
B-SCAP Share capital
B-RET Retained earnings at start of year
Balance Sheet - Liabilities
B-LOAN Long term loans
B-FLEASE Finance leases
B-CREDT Trade payables
B-PROV Provisions
B-INT Interest payable
B-DIV Dividends payable
B-TAX Current tax liability
Page 16 of 27
ABC Trading (Pty) Limited
Report Key
Acc No Account Description Class Status
BS-100 Property, Plant & Equipment B-PPE 0
BS-150 Accumulated Depreciation B-PPE 0
BS-200 Investments B-VEST 0
BS-300 Cash - Other B-CASH 0
BS-399 Cash Transfer Control B-BANK 0 On this sheet:
BS-400 Debtors - Other B-DEBT 0 This sheet enables users to link each account in the trial balance to the
appropriate reporting class. All account balance are automatically included on
BS-500 Creditors - Other B-CREDT 0
the income statement, cash flow statement and balance sheet reports based on
BS-510 Interest Payable B-INT 0 the reporting class that is specified for the appropriate account on this sheet.
BS-520 Dividends Payable B-DIV 0 Note that the account numbers that are included in the trial balances can be in
BS-530 Provision for Taxation B-TAX 0 any format because the accounts are linked to our pre-defined reporting
BS-550 Provisions B-PROV 0 classes for reporting purposes.
BS-600 Sales Tax Control B-CREDT 0
BS-700 Long Term Liabilities B-LOAN 0
BS-800 Share Capital B-SCAP 0
BS-900 Reserves B-RET 0
IS-100 Turnover I-REVS 0
IS-200 Stock Purchases I-COS 0
IS-305 Accounting Fees I-ADM01 0
IS-310 Advertising & Marketing I-ADV01 0
IS-315 Bank Charges I-ADM02 0
IS-320 Commission I-ADM03 0
IS-325 Computer Expenses I-ADM04 0
IS-330 Consumables & Cleaning I-ADM05 0
IS-335 Entertainment I-ADM07 0
IS-340 Insurance I-ADM08 0
IS-345 Office Expenses I-ADM09 0
IS-350 Office Rent I-ADM10 0
IS-355 Postage I-ADM11 0
IS-360 Professional & Legal Fees I-ADM12 0
IS-365 Salaries & Wages I-ADM13 0
IS-370 Stationery I-ADM14 0
IS-375 Subscriptions & Memberships I-ADM15 0
IS-380 Telephone & Internet I-ADM16 0
IS-385 Training I-ADM17 0
IS-390 Travelling & Accommodation I-ADM18 0
IS-395 Utilities I-ADM19 0
IS-400 Depreciation I-ADM06 0
IS-500 Interest Paid I-FIN 0
IS-600 Taxation I-TAX 0
IS-650 Dividends Paid I-DIV 0
IS-700 Other Expenses I-OTX01 0
IS-800 Other Income I-REVO 0
IS-810 Dividends Received I-REVO02 0
IS-820 Interest Received I-REVO03 0
IS-830 Profit on Disposal of Asset I-REVO04 0
BS-BANKB1 B1 Bank Account B-BANK 0
BS-PCASHPC Petty Cash B-CASH 0
BS-DEBTORS Trade Debtors B-DEBT 0
BS-CREDITORS Trade Creditors B-CREDT 0
BS-INVENTORY Inventory B-INV 0
IS-INV MOVEMENT Inventory Movement I-COS 0
BS-RETAINED Retained Earnings B-RET 0
Page 17 of 27
Monthly Trial Balance - Prior Year
© www.excel-skills.com - - - - - - - - - - - - -
Class Acc No Account Description Feb-2014 Mar-2014 Apr-2014 May-2014 Jun-2014 Jul-2014 Aug-2014 Sep-2014 Oct-2014 Nov-2014 Dec-2014 Jan-2015 Feb-2015
B-PPE BS-100 Property, Plant & Equipment 30,100.00 30,100.00 30,100.00 30,100.00 30,100.00 45,100.00 45,100.00 45,100.00 45,100.00 45,100.00 45,100.00 45,100.00 45,100.00
B-PPE BS-150 Accumulated Depreciation -22,600.00 -23,100.00 -23,600.00 -24,100.00 -24,600.00 -25,100.00 -25,800.00 -26,500.00 -27,200.00 -27,900.00 -28,600.00 -29,300.00 -30,000.00
B-VEST BS-200 Investments - - - - - - 5,000.00 5,000.00 5,000.00 5,000.00 5,000.00 8,000.00 8,000.00
B-CASH BS-300 Cash - Other - - - - - - - - - - - - -
On this sheet:
B-BANK BS-399 Cash Transfer Control - - - - - - - - - - - - -
A complete trial balance for the prior year reporting period should be copied or entered
B-DEBT BS-400 Debtors - Other onto this- sheet. The balance
- -
sheet balances at the end -of the year before
- the prior year- - - - - - - -
B-CREDT BS-500 Creditors - Other - period also need
reporting - -
to be included -
in the first column (for cash- flow statement- - - - - - - -2,700.00
B-INT BS-510 Interest Payable calculation- purposes). The- formula in column
- A needs to -be copied for all- the new accounts- - - - - - - -
B-DIV BS-520 Dividends Payable that are-added to this sheet
- and determines
- the reporting
- class which is - linked to each- - - - - - - -5,000.00
account on the Key sheet. All the account balances on this sheet are automatically updated
B-TAX BS-530 Provision for Taxation - -1,440.00 -3,230.00 -4,250.00 -8,890.00 -9,690.00 - -4,465.00 -6,765.00 -8,865.00 -9,395.00 -6,125.00 -
to the income statement, cash flow statement and balance sheet reports in the "Prior Year"
B-PROV BS-550 Provisions -3,000.00 -3,000.00 -3,000.00
columns. -3,000.00 -3,000.00 -3,000.00 -3,000.00 -4,200.00 -4,200.00 -4,200.00 -4,200.00 -3,380.00 -4,200.00
B-CREDT BS-600 Sales Tax Control -2,863.45 -3,706.05 -1,995.76 -3,357.28 -2,984.75 -4,865.17 -629.21 -4,380.38 -3,144.34 864.22 -1,908.46 -4,483.40 -4,907.16
B-LOAN BS-700 Long Term Liabilities -48,780.00 -48,160.00 -47,540.00 -46,920.00 -46,300.00 -45,680.00 -45,060.00 -44,440.00 -43,820.00 -43,200.00 -42,580.00 -50,200.00 -49,380.00
B-SCAP BS-800 Share Capital -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
B-RET BS-900 Reserves - - - - - - - - - - - - -
I-REVS IS-100 Turnover - -44,215.79 -89,959.47 -142,017.36 -202,233.14 -254,299.20 -306,561.04 -387,396.05 -462,496.05 -522,939.25 -581,478.72 -642,383.98 -725,898.84
I-COS IS-200 Stock Purchases - 20,561.06 42,537.24 69,275.33 99,282.49 128,582.48 165,806.29 211,106.29 251,438.68 280,418.67 315,570.11 348,603.44 391,915.50
I-ADM01 IS-305 Accounting Fees - 631.58 1,263.15 1,894.73 2,526.30 3,157.88 3,789.45 4,421.03 5,052.60 5,684.18 6,315.75 6,947.33 7,578.90
I-ADV01 IS-310 Advertising & Marketing - 947.37 1,894.73 2,842.10 3,789.47 4,736.84 5,684.20 6,631.57 7,578.94 8,763.15 9,947.36 11,131.57 12,315.78
I-ADM02 IS-315 Bank Charges - 39.47 78.95 118.42 157.90 197.37 236.84 276.32 315.79 355.27 394.74 434.21 473.69
I-ADM03 IS-320 Commission - - - - - - - - - - - - -
I-ADM04 IS-325 Computer Expenses - 315.79 631.58 947.38 1,120.63 1,120.63 1,120.63 1,120.63 1,120.63 1,120.63 1,120.63 1,120.63 1,120.63
I-ADM05 IS-330 Consumables & Cleaning - - - - 77.36 77.36 77.36 118.41 118.41 159.46 159.46 236.83 303.14
I-ADM07 IS-335 Entertainment - - - - - - - - - - - - -
I-ADM08 IS-340 Insurance - 252.63 505.26 757.89 1,010.52 1,263.15 1,515.78 1,768.41 2,021.04 2,273.67 2,526.30 2,794.73 3,063.15
I-ADM09 IS-345 Office Expenses - - - - - - 1,261.58 1,261.58 1,261.58 1,261.58 1,261.58 1,261.58 1,261.58
I-ADM10 IS-350 Office Rent - 6,315.79 12,631.57 18,947.36 25,263.14 31,578.93 37,894.72 44,210.50 50,526.29 56,842.07 63,157.86 69,473.65 75,789.43
I-ADM11 IS-355 Postage - - - - - - - - - - - - -
I-ADM12 IS-360 Professional & Legal Fees - - - - - - - - - - - - -
I-ADM13 IS-365 Salaries & Wages - 10,000.00 20,000.00 30,000.00 40,000.00 50,000.00 60,000.00 70,000.00 80,000.00 90,000.00 100,000.00 130,000.00 150,000.00
I-ADM14 IS-370 Stationery - 81.32 157.10 232.89 313.42 468.15 537.62 652.89 802.89 859.73 1,003.42 1,076.05 1,162.89
I-ADM15 IS-375 Subscriptions & Memberships - - - 947.37 947.37 947.37 947.37 947.37 1,305.20 1,305.20 1,305.20 1,305.20 1,305.20
I-ADM16 IS-380 Telephone & Internet - 872.37 1,760.53 2,640.79 3,505.26 4,424.99 5,343.95 6,251.06 7,173.95 8,112.64 9,082.90 10,037.38 10,983.96
I-ADM17 IS-385 Training - - - - - - - - 532.90 532.90 532.90 532.90 532.90
I-ADM18 IS-390 Travelling & Accommodation - - - 444.47 444.47 603.16 743.69 743.69 3,112.11 3,112.11 3,270.01 3,375.31 3,375.31
I-ADM19 IS-395 Utilities - - - - - - - - - 2,500.00 - - -
I-ADM06 IS-400 Depreciation - 500.00 1,000.00 1,500.00 2,000.00 2,500.00 3,200.00 3,900.00 4,600.00 5,300.00 6,000.00 6,700.00 7,400.00
I-FIN IS-500 Interest Paid - 300.00 600.00 900.00 1,200.00 1,500.00 1,800.00 2,100.00 2,400.00 2,700.00 3,000.00 3,300.00 3,600.00
I-TAX IS-600 Taxation - 1,440.00 3,230.00 4,250.00 8,890.00 9,690.00 11,290.00 15,755.00 18,055.00 20,155.00 20,685.00 17,415.00 13,615.00
I-DIV IS-650 Dividends Paid - - - - - - - - - - - - 5,000.00
I-OTX01 IS-700 Other Expenses - - - - - - - - - - - 800.00 20,800.00
I-REVO IS-800 Other Income - - - - - - -7,200.00 -7,200.00 -7,200.00 -7,200.00 -7,200.00 -8,500.00 -8,500.00
I-REVO02 IS-810 Dividends Received - - - - - - -500.00 -500.00 -500.00 -500.00 -500.00 -500.00 -500.00
I-REVO03 IS-820 Interest Received - - - - - - - - - - - - -
I-REVO04 IS-830 Profit on Disposal of Asset - - - - - - - - - - - - -
B-BANK BS-BANKB1 B1 Bank Account 7,471.45 8,932.46 14,043.12 19,853.91 22,817.56 7,874.06 20,988.77 6,904.68 6,397.38 14,491.77 20,826.96 17,874.57 18,336.94
B-BANK BS-BANKB2 B2 Bank Account 1,200.00 1,200.00 1,200.00 1,200.00 1,200.00 1,200.00 1,200.00 1,200.00 1,200.00 1,200.00 1,200.00 1,800.00 1,800.00
B-BANK BS-BANKB3 B3 Bank Account - - - - - - - - - 10,000.00 10,000.00 10,000.00 10,000.00
B-CASH BS-PCASHPC Petty Cash 900.00 900.00 900.00 900.00 900.00 900.00 900.00 900.00 900.00 900.00 900.00 900.00 900.00
B-DEBT BS-DEBTORS Trade Debtors 45,200.00 50,100.00 49,200.00 55,300.00 66,750.00 62,900.00 31,200.00 92,100.00 85,200.00 60,750.00 65,800.00 62,300.00 81,540.00
B-CREDT BS-CREDITORS Trade Creditors -27,340.00 -26,780.00 -29,320.00 -36,320.00 -41,200.00 -33,100.00 -33,800.00 -60,300.00 -42,800.00 -31,870.00 -35,210.00 -34,560.00 -63,100.00
B-INV BS-INVENTORY Inventory 21,620.00 20,220.00 22,700.00 22,440.00 27,880.00 28,013.00 32,210.00 31,810.00 28,210.00 26,740.00 23,310.00 24,660.00 22,310.00
I-COS IS-INV MOVEMENT Inventory Movement - -1,400.00 -3,880.00 -3,620.00 -9,060.00 -9,193.00 -13,390.00 -12,990.00 -9,390.00 -7,920.00 -4,490.00 -5,840.00 -3,490.00
B-RET BS-RETAINED Retained Earnings -1,808.00 -1,808.00 -1,808.00 -1,808.00 -1,808.00 -1,808.00 -1,808.00 -1,808.00 -1,808.00 -1,808.00 -1,808.00 -1,808.00 -1,808.00
Page 18 of 27
Monthly Trial Balance - Current Year
© www.excel-skills.com - - - - - - - - - - - -
Class Acc No Account Description Mar-2015 Apr-2015 May-2015 Jun-2015 Jul-2015 Aug-2015 Sep-2015 Oct-2015 Nov-2015 Dec-2015 Jan-2016 Feb-2016
B-PPE BS-100 Property, Plant & Equipment 45,100.00 45,100.00 50,100.00 50,100.00 50,100.00 50,100.00 50,100.00 50,100.00 50,100.00 50,100.00 50,100.00 50,100.00
B-PPE BS-150 Accumulated Depreciation -30,700.00 -31,400.00 -32,400.00 -33,400.00 -34,400.00 -35,400.00 -36,400.00 -37,400.00 -38,400.00 -39,400.00 -40,400.00 -41,400.00
B-VEST BS-200 Investments 8,000.00 8,000.00 8,000.00 8,000.00 8,000.00 8,000.00 8,000.00 8,000.00 8,000.00 8,000.00 8,000.00 8,000.00
B-CASH BS-300 Cash - Other - - - - - - - - - - - -
On this sheet:
B-BANK BS-399 Cash Transfer Control -
A complete trial balance- for the current -reporting period- should be copied- or entered - - - - - - -
B-DEBT BS-400 Debtors - Other onto this- sheet. The formula
- in column A- needs to be copied
- for all the -new accounts - - - - - - -
B-CREDT BS-500 Creditors - Other that are added
- to this sheet
- and determines- the reporting- class which is- linked to each - - - - - - -3,900.00
B-INT BS-510 Interest Payable account- on the Key sheet.
- All the account
- balances on- this sheet are automatically
- - - - - - - -
updated to the income statement, cash flow statement and balance sheet reports in the
B-DIV BS-520 Dividends Payable - - - - - - - - - - - -10,000.00
"Actual" columns.
B-TAX BS-530 Provision for Taxation -1,570.00 -3,490.00 -4,575.00 -9,455.00 -8,835.00 - -3,440.00 -4,540.00 -9,420.00 -7,820.00 -7,600.00 -
B-PROV BS-550 Provisions -4,000.00 -3,000.00 -5,000.00 -4,000.00 -3,000.00 -4,000.00 -5,000.00 -3,000.00 -5,000.00 -4,000.00 -4,500.00 -5,000.00
B-CREDT BS-600 Sales Tax Control -3,901.11 -2,100.80 -3,533.98 -3,141.84 -5,121.23 -662.33 -4,610.93 -3,309.83 909.71 -2,008.90 -4,719.37 -5,165.43
B-LOAN BS-700 Long Term Liabilities -49,380.00 -48,760.00 -48,140.00 -47,520.00 -46,900.00 -46,280.00 -45,660.00 -45,040.00 -44,420.00 -43,800.00 -43,180.00 -42,560.00
B-SCAP BS-800 Share Capital -100.00 -100.00 -100.00 -100.00 -100.00 -100.00 -100.00 -100.00 -100.00 -100.00 -100.00 -100.00
B-RET BS-900 Reserves - - - - - - - - - - - -
I-REVS IS-100 Turnover -47,543.86 -96,192.98 -151,631.57 -215,842.09 -271,289.46 -326,947.36 -413,114.03 -493,114.03 -557,354.03 -619,547.01 -684,283.85 -773,332.09
I-COS IS-200 Stock Purchases 21,643.22 44,776.04 72,921.40 104,507.88 135,349.98 174,532.94 222,217.15 264,672.29 295,177.55 332,179.06 366,950.99 412,542.63
I-ADM01 IS-305 Accounting Fees 701.75 1,403.50 2,105.25 2,807.00 3,508.75 4,210.50 4,912.25 5,614.00 6,315.75 7,017.50 7,719.25 8,421.00
I-ADV01 IS-310 Advertising & Marketing 1,052.63 2,105.26 3,157.89 4,210.52 5,263.15 6,315.78 7,368.41 8,421.04 9,736.83 11,052.62 12,368.41 13,684.20
I-ADM02 IS-315 Bank Charges 43.86 87.72 131.58 175.44 219.30 263.16 307.02 350.88 394.74 438.60 482.46 526.32
I-ADM03 IS-320 Commission - - - - - - - - - - - -
I-ADM04 IS-325 Computer Expenses 350.88 701.76 1,052.64 1,245.14 1,245.14 1,245.14 1,245.14 1,245.14 1,245.14 1,245.14 1,245.14 1,245.14
I-ADM05 IS-330 Consumables & Cleaning - - - 85.96 85.96 85.96 131.57 131.57 177.18 177.18 263.14 336.82
I-ADM07 IS-335 Entertainment - - - - - - - - - - - -
I-ADM08 IS-340 Insurance 280.70 561.40 842.10 1,122.80 1,403.50 1,684.20 1,964.90 2,245.60 2,526.30 2,807.00 3,105.25 3,403.50
I-ADM09 IS-345 Office Expenses - - - - - 1,401.75 1,401.75 1,401.75 1,401.75 1,401.75 1,401.75 1,401.75
I-ADM10 IS-350 Office Rent 7,017.54 14,035.08 21,052.62 28,070.16 35,087.70 42,105.24 49,122.78 56,140.32 63,157.86 70,175.40 77,192.94 84,210.48
I-ADM11 IS-355 Postage - - - - - - - - - - - -
I-ADM12 IS-360 Professional & Legal Fees - - - - - - - - - - - -
I-ADM13 IS-365 Salaries & Wages 10,000.00 20,000.00 30,000.00 40,000.00 55,000.00 70,000.00 85,000.00 100,000.00 115,000.00 130,000.00 150,000.00 170,000.00
I-ADM14 IS-370 Stationery 90.35 174.56 258.77 348.24 520.17 597.36 725.43 892.10 955.26 1,114.91 1,195.61 1,292.10
I-ADM15 IS-375 Subscriptions & Memberships - - 1,052.63 1,052.63 1,052.63 1,052.63 1,052.63 1,450.22 1,450.22 1,450.22 1,450.22 1,450.22
I-ADM16 IS-380 Telephone & Internet 969.30 1,956.14 2,934.21 3,894.73 4,916.66 5,937.72 6,945.62 7,971.06 9,014.04 10,092.11 11,152.64 12,204.40
I-ADM17 IS-385 Training - - - - - - - 592.11 592.11 592.11 592.11 592.11
I-ADM18 IS-390 Travelling & Accommodation - - 493.86 493.86 670.18 826.32 826.32 3,457.90 3,457.90 3,633.34 3,750.34 3,750.34
I-ADM19 IS-395 Utilities - - - - - - - - - - - -
I-ADM06 IS-400 Depreciation 700.00 1,400.00 2,400.00 3,400.00 4,400.00 5,400.00 6,400.00 7,400.00 8,400.00 9,400.00 10,400.00 11,400.00
I-FIN IS-500 Interest Paid 440.00 880.00 1,320.00 1,760.00 2,200.00 2,640.00 3,080.00 3,520.00 3,960.00 4,400.00 4,840.00 5,280.00
I-TAX IS-600 Taxation 1,570.00 3,490.00 4,575.00 9,455.00 8,835.00 9,605.00 13,045.00 14,145.00 19,025.00 17,425.00 17,205.00 19,955.00
I-DIV IS-650 Dividends Paid - - - - - - - 10,000.00
I-OTX01 IS-700 Other Expenses - - - - - 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00
I-REVO IS-800 Other Income - - - - - -10,000.00 -10,000.00 -10,000.00 -20,877.19 -20,877.19 -20,877.19 -20,877.19
I-REVO02 IS-810 Dividends Received - - - - - -1,000.00 -1,000.00 -1,000.00 -1,000.00 -1,000.00 -1,000.00 -1,000.00
I-REVO03 IS-820 Interest Received -89.00 -177.00 -258.00 -338.00 -428.00 -523.00 -624.00 -710.00 -807.00 -909.00 -1,014.00 -1,122.00
I-REVO04 IS-830 Profit on Disposal of Asset - - - - - - - - - - - -
B-BANK BS-BANKB1 B1 Bank Account 13,987.00 15,450.74 21,816.32 19,866.60 28,155.02 63,117.02 15,222.99 20,751.74 37,806.88 39,031.88 35,189.16 55,584.16
B-BANK BS-BANKB3 B3 Bank Account 600.00 600.00 600.00 600.00 600.00 600.00 600.00 600.00 13,000.00 13,000.00 13,000.00 13,000.00
B-CASH BS-PCASHPC Petty Cash 1,100.00 1,100.00 1,100.00 1,099.55 1,100.55 1,100.55 1,100.00 1,000.00 1,100.00 1,000.00 900.00 1,000.00
B-DEBT BS-DEBTORS Trade Debtors 54,200.00 55,460.00 63,200.00 73,200.00 63,210.00 23,450.00 98,230.00 91,200.00 64,240.00 70,900.00 73,800.00 87,515.00
B-CREDT BS-CREDITORS Trade Creditors -26,073.26 -27,571.42 -38,985.72 -37,208.58 -36,360.00 -45,868.58 -55,560.00 -49,598.86 -36,276.00 -43,681.72 -41,140.00 -68,948.46
B-INV BS-INVENTORY Inventory 23,210.00 25,690.00 25,430.00 30,870.00 31,003.00 35,200.00 34,800.00 31,200.00 29,730.00 26,300.00 27,650.00 25,300.00
I-COS IS-INV MOVEMENT Inventory Movement -900.00 -3,380.00 -3,120.00 -8,560.00 -8,693.00 -12,890.00 -12,490.00 -8,890.00 -7,420.00 -3,990.00 -5,340.00 -2,990.00
B-RET BS-RETAINED Retained Earnings -28,600.00 -28,600.00 -28,600.00 -28,600.00 -28,600.00 -28,600.00 -28,600.00 -28,600.00 -28,600.00 -28,600.00 -28,600.00 -28,600.00
Page 19 of 27
Monthly Forecast
© www.excel-skills.com - - - - - - - - - - - -
Class Acc No Account Description Mar-2015 Apr-2015 May-2015 Jun-2015 Jul-2015 Aug-2015 Sep-2015 Oct-2015 Nov-2015 Dec-2015 Jan-2016 Feb-2016
B-PPE BS-100 Property, Plant & Equipment 45,100.00 45,100.00 55,100.00 55,100.00 55,100.00 55,100.00 55,100.00 55,100.00 60,100.00 60,100.00 60,100.00 60,100.00
B-PPE BS-150 Accumulated Depreciation -30,700.00 -31,400.00 -32,400.00 -33,400.00 -34,400.00 -35,400.00 -36,400.00 -37,400.00 -38,400.00 -39,400.00 -40,400.00 -41,400.00
B-VEST BS-200 Investments 8,000.00 8,000.00 10,000.00 10,000.00 10,000.00 10,000.00 10,000.00 10,000.00 10,000.00 10,000.00 10,000.00 10,000.00
B-CASH BS-300 Cash - Other - 1,400.00 - - - - - - - - - -
On this sheet:
B-BANK BS-399 Cash Transfer Control -
A monthly forecast or- budget for the -current reporting
- period should- be copied or - - - - - - -
B-DEBT BS-400 Debtors - Other - onto this sheet.
entered - The formula in - column A needs - to be copied -for all the new - - 2,000.00 - - 4,400.00 1,000.00
B-CREDT BS-500 Creditors - Other accounts- that are added -to this sheet and- determines the - reporting class
- which is linked
- - - - - - -
B-INT BS-510 Interest Payable to each
- account on- the Key sheet.-All the account -balances on this - sheet are - - - - - - -
automatically updated to the income statement, cash flow statement and balance sheet
B-DIV BS-520 Dividends Payable - - - - - - - - - - - -10,000.00
reports in the "Forecast" columns.
B-TAX BS-530 Provision for Taxation -2,500.00 -4,550.00 -4,830.00 -11,830.00 -9,930.00 - -880.00 -7,255.00 -8,530.00 -3,835.00 -14,110.00 -
B-PROV BS-550 Provisions -4,300.00 -5,000.00 -9,600.00 -8,600.00 -7,600.00 -6,600.00 -4,600.00 -5,600.00 -7,600.00 -5,600.00 -5,000.00 -4,600.00
B-CREDT BS-600 Sales Tax Control -3,900.00 -2,000.00 -3,500.00 -3,000.00 -5,000.00 -650.00 -5,000.00 -3,500.00 1,000.00 -2,000.00 -5,000.00 -5,000.00
B-LOAN BS-700 Long Term Liabilities -59,380.00 -58,760.00 -58,140.00 -57,520.00 -56,900.00 -56,280.00 -55,660.00 -55,040.00 -54,420.00 -53,800.00 -53,180.00 -52,560.00
B-SCAP BS-800 Share Capital -100.00 -100.00 -100.00 -100.00 -100.00 -100.00 -100.00 -100.00 -100.00 -100.00 -100.00 -100.00
B-RET BS-900 Reserves - - - - - - - - - - - -
I-REVS IS-100 Turnover -50,000.00 -100,000.00 -150,000.00 -220,000.00 -275,000.00 -325,000.00 -400,000.00 -500,000.00 -550,000.00 -600,000.00 -670,000.00 -750,000.00
I-COS IS-200 Stock Purchases 21,000.00 45,000.00 70,000.00 100,000.00 135,000.00 175,000.00 220,000.00 265,000.00 300,000.00 330,000.00 365,000.00 410,000.00
I-ADM01 IS-305 Accounting Fees 700.00 1,400.00 2,100.00 2,800.00 3,500.00 4,200.00 4,900.00 5,600.00 6,300.00 7,000.00 7,700.00 8,400.00
I-ADV01 IS-310 Advertising & Marketing 1,100.00 2,200.00 3,300.00 4,400.00 5,500.00 6,600.00 7,700.00 8,800.00 10,100.00 11,400.00 12,700.00 14,000.00
I-ADM02 IS-315 Bank Charges 50.00 100.00 150.00 200.00 250.00 300.00 350.00 400.00 450.00 500.00 550.00 600.00
I-ADM03 IS-320 Commission - - - - - - - - - - - -
I-ADM04 IS-325 Computer Expenses 400.00 800.00 1,200.00 1,400.00 1,400.00 1,400.00 1,400.00 1,400.00 1,400.00 1,400.00 1,400.00 1,400.00
I-ADM05 IS-330 Consumables & Cleaning - - - 100.00 100.00 100.00 100.00 100.00 100.00 100.00 200.00 300.00
I-ADM07 IS-335 Entertainment - - - - - - - - - - - -
I-ADM08 IS-340 Insurance 300.00 600.00 900.00 1,200.00 1,500.00 1,800.00 2,100.00 2,400.00 2,700.00 3,000.00 3,300.00 3,600.00
I-ADM09 IS-345 Office Expenses - - - - - 1,400.00 1,400.00 1,400.00 1,400.00 1,400.00 1,400.00 1,400.00
I-ADM10 IS-350 Office Rent 7,000.00 14,000.00 21,000.00 28,000.00 35,000.00 42,000.00 49,000.00 56,000.00 63,000.00 70,000.00 77,000.00 84,000.00
I-ADM11 IS-355 Postage - - - - - - - - - - - -
I-ADM12 IS-360 Professional & Legal Fees - - - - - - - - - - - -
I-ADM13 IS-365 Salaries & Wages 10,000.00 20,000.00 30,000.00 40,000.00 55,000.00 70,000.00 85,000.00 100,000.00 120,000.00 140,000.00 160,000.00 180,000.00
I-ADM14 IS-370 Stationery 100.00 200.00 300.00 400.00 600.00 700.00 800.00 1,000.00 1,100.00 1,300.00 1,400.00 1,500.00
I-ADM15 IS-375 Subscriptions & Memberships - - 1,100.00 1,100.00 1,100.00 1,100.00 1,100.00 1,500.00 1,500.00 1,500.00 1,500.00 1,500.00
I-ADM16 IS-380 Telephone & Internet 1,000.00 2,000.00 3,000.00 4,000.00 5,000.00 6,000.00 7,000.00 8,000.00 9,000.00 10,100.00 11,200.00 12,300.00
I-ADM17 IS-385 Training - - - - - - - 600.00 600.00 600.00 600.00 600.00
I-ADM18 IS-390 Travelling & Accommodation - - 500.00 500.00 700.00 900.00 900.00 3,500.00 3,500.00 3,700.00 3,800.00 3,800.00
I-ADM19 IS-395 Utilities - - - - - - - - - - - -
I-ADM06 IS-400 Depreciation 700.00 1,400.00 2,400.00 3,400.00 4,400.00 5,400.00 6,400.00 7,400.00 8,400.00 9,400.00 10,400.00 11,400.00
I-FIN IS-500 Interest Paid 400.00 800.00 1,200.00 1,600.00 2,000.00 2,400.00 2,800.00 3,200.00 3,600.00 4,000.00 4,400.00 4,800.00
I-TAX IS-600 Taxation 2,500.00 4,550.00 4,830.00 11,830.00 9,930.00 5,730.00 6,610.00 12,985.00 14,260.00 9,565.00 19,840.00 20,065.00
I-DIV IS-650 Dividends Paid - - - - - - - - - - - 10,000.00
I-OTX01 IS-700 Other Expenses - - - - - 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00
I-REVO IS-800 Other Income - - - - - -500.00 -500.00 -500.00 -23,000.00 -23,000.00 -53,000.00 -53,000.00
I-REVO02 IS-810 Dividends Received - - - - - -500.00 -500.00 -500.00 -500.00 -500.00 -500.00 -500.00
I-REVO03 IS-820 Interest Received -100.00 -200.00 -300.00 -400.00 -500.00 -600.00 -700.00 -800.00 -900.00 -1,000.00 -1,100.00 -900.00
I-REVO04 IS-830 Profit on Disposal of Asset - - - - - - - - - - - -
B-BANK BS-BANKB1 B1 Bank Account 27,320.00 40,750.00 30,580.00 35,610.00 24,140.00 -7,710.00 -10,530.00 61,200.00 29,330.00 12,660.00 33,090.00 24,785.00
B-BANK BS-BANKB3 B3 Bank Account 600.00 600.00 600.00 600.00 600.00 600.00 600.00 600.00 23,000.00 23,000.00 23,000.00 23,000.00
B-CASH BS-PCASHPC Petty Cash 1,100.00 1,100.00 1,100.00 1,100.00 1,100.00 1,100.00 1,100.00 1,000.00 1,100.00 1,000.00 900.00 1,000.00
B-DEBT BS-DEBTORS Trade Debtors 54,200.00 30,000.00 45,000.00 66,000.00 82,500.00 97,500.00 120,000.00 70,000.00 65,000.00 80,000.00 101,000.00 115,000.00
B-CREDT BS-CREDITORS Trade Creditors -26,100.00 -13,500.00 -21,000.00 -30,000.00 -40,500.00 -52,500.00 -66,000.00 -65,000.00 -50,000.00 -59,000.00 -69,000.00 -83,000.00
B-INV BS-INVENTORY Inventory 23,310.00 25,810.00 25,310.00 30,810.00 31,310.00 35,310.00 34,810.00 31,310.00 29,810.00 26,310.00 27,610.00 25,310.00
I-COS IS-INV MOVEMENT Inventory Movement -1,000.00 -3,500.00 -3,000.00 -8,500.00 -9,000.00 -13,000.00 -12,500.00 -9,000.00 -7,500.00 -4,000.00 -5,300.00 -3,000.00
B-RET BS-RETAINED Retained Earnings -28,600.00 -28,600.00 -28,600.00 -28,600.00 -28,600.00 -28,600.00 -28,600.00 -28,600.00 -28,600.00 -28,600.00 -28,600.00 -28,600.00
Page 20 of 27
Income statement for the period ended 29 February 2016
© www.excel-skills.com Current Month Year-to-Date
Forecast Actual Diff Diff% Prior Year Forecast Actual Diff Diff% Prior Year
Revenue 80,000 89,048 9,048 11.3% 83,515 750,000 773,332 23,332 3.1% 725,899
Cost of sales 47,300 47,942 (642) (1.4%) 45,662 407,000 409,553 (2,553) (0.6%) 388,426
Gross profit 32,700 41,107 8,407 25.7% 37,853 343,000 363,779 20,779 6.1% 337,473
Gross profit % 40.9% 46.2% 5.3% 45.3% 45.7% 47.0% 1.3% 46.5%
Other Income (200) 108 308 154.0% - 54,400 22,999 (31,401) (57.7%) 9,000
Expenses 31,650 31,599 51 0.2% 50,239 325,800 314,918 10,882 3.3% 297,467
On this sheet:
Accounting Fees 700 702
The income (2) on this(0.3%)
statement 632
sheet is automatically 8,400
calculated 8,421
based on the (21) (0.3%) 7,579
Advertising & Marketing 1,300 reporting
1,316periods that are specified
(16) on the Set-up
(1.2%) 1,184sheet and the account balances
14,000 13,684 316 2.3% 12,316
Bank Charges 50 on the trial
44 balance and 6 forecast sheets. No user
12.3% 39input is required
600 on this sheet
526 74 12.3% 474
but you can customise the line items that are included on the income statement
Commission - - - - - - - - - -
by creating the appropriate reporting classes on the Key sheet, entering the
Computer Expenses - - - - - 1,400
appropriate classes in column A and copying the formulas from one of the 1,245 155 11.1% 1,121
Consumables & Cleaning 100 74 26 existing rows. 66
26.3% 300 337 (37) (12.3%) 303
Depreciation 1,000 1,000 - - 700 11,400 11,400 - - 7,400
Entertainment - - - - - - - - - -
Insurance 300 298 2 0.6% 268 3,600 3,404 197 5.5% 3,063
Office Expenses - - - - - 1,400 1,402 (2) (0.1%) 1,262
Office Rent 7,000 7,018 (18) (0.3%) 6,316 84,000 84,210 (210) (0.3%) 75,789
Postage - - - - - - - - - -
Professional & Legal Fees - - - - - - - - - -
Salaries & Wages 20,000 20,000 - - 20,000 180,000 170,000 10,000 5.6% 150,000
Stationery 100 96 4 3.5% 87 1,500 1,292 208 13.9% 1,163
Subscriptions & Memberships - - - - - 1,500 1,450 50 3.3% 1,305
Telephone & Internet 1,100 1,052 48 4.4% 947 12,300 12,204 96 0.8% 10,984
Training - - - - - 600 592 8 1.3% 533
Travelling & Accommodation - - - - - 3,800 3,750 50 1.3% 3,375
Utilities - - - - - - - - - -
Other Expenses - - - - 20,000 1,000 1,000 - - 20,800
Profit / (Loss) before finance costs 850 9,615 8,765 1,031.2% (12,386) 71,600 71,860 260 0.4% 49,007
Finance costs 400 440 (40) (10.0%) 300 4,800 5,280 (480) (10.0%) 3,600
Profit / (Loss) before tax 450 9,175 8,725 1,939.0% (12,686) 66,800 66,580 (220) (0.3%) 45,407
Income tax expense 225 2,750 (2,525) (1,122.2%) (3,800) 20,065 19,955 110 0.5% 13,615
Profit / (Loss) for the period 225 6,425 6,200 2,755.8% (8,886) 46,735 46,625 (110) (0.2%) 31,792
Retained earnings at start of period 75,110 68,800 (6,310) (8.4%) 42,486 28,600 28,600 - - 1,808
Dividends 10,000 10,000 - - 5,000 10,000 10,000 - - 5,000
Retained earnings at end of period 65,335 65,225 (110) (0.2%) 28,600 65,335 65,225 (110) (0.2%) 28,600
Page 21 of 27
Statement of cash flows for the period ended 29 February 2016
Cash flows from operating activities
Profit / (Loss) for the period 225 6,425 6,200 2,755.8% (8,886) 46,735 46,625 (110) (0.2%) 31,792
- Finance costs 400 440 40 10.0% 300 4,800 5,280 480 10.0% 3,600
- Income taxes 225 2,750 2,525 1,122.2% (3,800) 20,065 19,955 (110) (0.5%) 13,615
- Interest Received 200 (108) (308) (154.0%) - (900) (1,122) (222) (24.7%) -
- Dividends received - - - - - (500) (1,000) (500) (100.0%) (500)
On this sheet:
Non-cash income and expenses:
The cash flow statement on this sheet is automatically calculated based on the
- Depreciation 1,000 1,000 periods that -are specified -on the Set-up
reporting 700sheet and the
11,400 11,400
account balances - - 7,400
- Amortisation - on the trial
- balance and
- forecast sheets.
- No user- input is required
- on this sheet
- - - -
- Increase / (Decrease) in provisions (400) but you can customise
500 900 the line225.0%
items that are included
820 on the cash
400 flow statement
800 400 100.0% 1,200
by creating the appropriate reporting classes on the Key sheet, entering the
Cash flow included in investing activities:
appropriate classes in column A and copying the formulas from one of the existing
- (Gains) / Losses on sale of equipment - - - - rows. - - - - - -
Changes in working capital:
- Decrease / (Increase) in receivables (10,600) (13,715) (3,115) (29.4%) (19,240) (34,460) (5,975) 28,485 82.7% (36,340)
- Decrease / (Increase) in inventories 2,300 2,350 50 2.2% 2,350 (3,000) (2,990) 10 0.3% (690)
- Increase / (Decrease) in payables 14,000 32,155 18,155 129.7% 31,664 17,293 7,307 (9,986) (57.7%) 40,504
Cash generated from operations 7,350 31,797 24,447 332.6% 3,907 61,833 80,280 18,447 29.8% 60,580
Interest paid (400) (440) (40) (10.0%) (300) (4,800) (5,280) (480) (10.0%) (3,600)
Income tax paid (14,335) (10,350) 3,985 27.8% (2,325) (20,065) (19,955) 110 0.5% (13,615)
Net cash from operating activities (7,385) 21,007 28,392 384.5% 1,282 36,968 55,045 18,077 48.9% 43,365
Cash flows from investing activities

Purchases of property, plant & equipment - - - - - (15,000) (5,000) 10,000 66.7% (15,000)
Purchases of intangible assets - - - - - - - - - -
Purchases of investments - - - - - (2,000) - 2,000 100.0% (8,000)
Interest received (200) 108 308 154.0% - 900 1,122 222 24.7% -
Dividends received - - - - - 500 1,000 500 100.0% 500
Net cash used in investing activities (200) 108 308 154.0% - (15,600) (2,878) 12,722 81.6% (22,500)
Cash flows from financing activities

Proceeds from issuance of shares - - - - - - - - -
Proceeds / (Repayment) of loans (620) (620) - - (820) 3,180 (6,820) (10,000) (314.5%) 600
Repayment of finance leases - - - - - - - - - -
Dividends paid - - - - - (5,000) (5,000) - - -
Net cash used in financing activities (620) (620) - - (820) (1,820) (11,820) (10,000) (549.5%) 600
Net increase / (decrease) in cash (8,205) 20,495 28,700 349.8% 462 19,548 40,347 20,799 106.4% 21,465
Page 22 of 27
Statement of cash flows for the period ended 29 February 2016
Cash equivalents at beginning of period 58,790 50,889 (7,901) (13.4%) 30,575 31,037 31,037 - - 9,571
Cash equivalents at end of period 50,585 71,384 20,799 41.1% 31,037 50,585 71,384 20,799 41.1% 31,037
Page 23 of 27
Balance sheet at 29 February 2016
ASSETS
Non-current assets
Property, plant & equipment 18,700 8,700 (10,000) (53.5%) 15,100 18,700 8,700 (10,000) (53.5%) 15,100
Intangible assets - - - - - - - - - -
Investments 10,000 8,000 (2,000) (20.0%) 8,000 10,000 8,000 (2,000) (20.0%) 8,000
On this sheet:
28,700 16,700 (12,000) (41.8%) 23,100 28,700 16,700 (12,000) (41.8%) 23,100
The balance sheet on this sheet is automatically calculated based on the
Current assets reporting periods that are specified on the Set-up sheet and the account
Inventories 25,310 balances
25,300 on the trial balance and
(10) forecast sheets.
(0.0%) 22,310 No user input is required
25,310 on
25,300 (10) (0.0%) 22,310
Trade and other receivables 116,000 this 87,515
sheet but you can customise
(28,485) the line items
(24.6%) that are included
81,540 on the balance
116,000 87,515 (28,485) (24.6%) 81,540
Bank 49,585
sheet by creating20,799
70,384
the appropriate reporting classes
41.9% 30,137
on the Key sheet, entering
49,585 70,384 20,799 41.9% 30,137
the appropriate classes in column A and copying the formulas from one of the
Other cash accounts 1,000 1,000 - -
existing rows. 900 1,000 1,000 - - 900
191,895 184,199 (7,696) (4.0%) 134,887 191,895 184,199 (7,696) (4.0%) 134,887
Total assets 220,595 200,899 (19,696) (8.9%) 157,987 220,595 200,899 (19,696) (8.9%) 157,987
EQUITY & LIABILITIES

Equity
Share capital 100 100 - - 100 100 100 - - 100
Retained earnings 65,335 65,225 (110) (0.2%) 28,600 65,335 65,225 (110) (0.2%) 28,600
65,435 65,325 (110) (0.2%) 28,700 65,435 65,325 (110) (0.2%) 28,700
Non-current liabilities
Long term loans 52,560 42,560 (10,000) (19.0%) 49,380 52,560 42,560 (10,000) (19.0%) 49,380
Finance leases - - - - - - - - - -
Deferred tax liability - - - - - - - - - -
52,560 42,560 (10,000) (19.0%) 49,380 52,560 42,560 (10,000) (19.0%) 49,380
Current liabilities
Bank overdraft - - - - - - - - - -
Trade payables 88,000 78,014 (9,986) (11.3%) 70,707 88,000 78,014 (9,986) (11.3%) 70,707
Provisions 4,600 5,000 400 8.7% 4,200 4,600 5,000 400 8.7% 4,200
Interest payable - - - - - - - - - -
Dividends payable 10,000 10,000 - - 5,000 10,000 10,000 - - 5,000
Current tax liability - - - - - - - - - -
102,600 93,014 (9,586) (9.3%) 79,907 102,600 93,014 (9,586) (9.3%) 79,907
Total liabilities 155,160 135,574 (19,586) (12.6%) 129,287 155,160 135,574 (19,586) (12.6%) 129,287
Page 24 of 27
Balance sheet at 29 February 2016
Total equity & liabilities 220,595 200,899 (19,696) (8.9%) 157,987 220,595 200,899 (19,696) (8.9%) 157,987
Page 25 of 27
Monthly Income Statement
Mar-2015 Apr-2015 May-2015 Jun-2015 Jul-2015 Aug-2015 Sep-2015 Oct-2015 Nov-2015 Dec-2015 Jan-2016 Feb-2016 Total
Revenue 47,544 48,649 55,439 64,211 55,447 55,658 86,167 80,000 64,240 62,193 64,737 89,048 773,332
Cost of sales 20,743 20,653 28,405 26,146 30,709 34,986 48,084 46,055 31,975 40,432 33,422 47,942 409,553
Gross profit 26,801 27,996 27,033 38,064 24,738 20,672 38,082 33,945 32,265 21,761 31,315 41,107 363,779
Gross profit % 56.4% 57.5% 48.8% 59.3% 44.6% 37.1% 44.2% 42.4% 50.2% 35.0% 48.4% 46.2% 47.0%
Other Income 89 88 81 80 90 11,095 101 86 10,974 102 105 108 22,999
Expenses 21,207 21,218 23,056 21,425 26,467 28,753 26,278 29,910 26,511 26,773 31,721 31,599 314,918
Accounting Fees 702 702 702 702 On this sheet:
702 702 702 702 702 702 702 702 8,421
Advertising & Marketing 1,053 The monthly
1,053 income statement on
1,053 this sheet is
1,053 automatically
1,053 calculated based
1,053 1,053 on the 1,053 1,316 1,316 1,316 1,316 13,684
reporting periods that are specified on the Set-up sheet and the account balances on
Bank Charges 44 44 44 44 44 44 44 44 44 44 44 44 526
the current year trial balance sheet. No user input is required on this sheet but you
Commission - - - - - - -
can customise the line items that are included on the monthly income statement by - - - - - -
Computer Expenses 351 creating
351the appropriate
351 reporting193
classes on the -Key sheet, entering
- the appropriate
- - - - - - 1,245
Consumables & Cleaning - classes
- in column -A and copying86 the formulas- from one of -the existing 46
rows. - 46 - 86 74 337
Depreciation 700 700 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 11,400
Entertainment - - - - - - - - - - - - -
Insurance 281 281 281 281 281 281 281 281 281 281 298 298 3,404
Office Expenses - - - - - 1,402 - - - - - - 1,402
Office Rent 7,018 7,018 7,018 7,018 7,018 7,018 7,018 7,018 7,018 7,018 7,018 7,018 84,210
Postage - - - - - - - - - - - - -
Professional & Legal Fees - - - - - - - - - - - - -
Salaries & Wages 10,000 10,000 10,000 10,000 15,000 15,000 15,000 15,000 15,000 15,000 20,000 20,000 170,000
Stationery 90 84 84 89 172 77 128 167 63 160 81 96 1,292
Subscriptions & Memberships - - 1,053 - - - - 398 - - - - 1,450
Telephone & Internet 969 987 978 961 1,022 1,021 1,008 1,025 1,043 1,078 1,061 1,052 12,204
Training - - - - - - - 592 - - - - 592
Travelling & Accommodation - - 494 - 176 156 - 2,632 - 175 117 - 3,750
Utilities - - - - - - - - - - - - -
Other Expenses - - - - - 1,000 - - - - - - 1,000
Profit / (Loss) before finance costs 5,683 6,866 4,058 16,719 (1,638) 3,014 11,905 4,121 16,728 (4,909) (301) 9,615 71,860
Finance costs 440 440 440 440 440 440 440 440 440 440 440 440 5,280
Profit / (Loss) before tax 5,243 6,426 3,618 16,279 (2,078) 2,574 11,465 3,681 16,288 (5,349) (741) 9,175 66,580
Income tax expense 1,570 1,920 1,085 4,880 (620) 770 3,440 1,100 4,880 (1,600) (220) 2,750 19,955
Profit / (Loss) for the period 3,673 4,506 2,533 11,399 (1,458) 1,804 8,025 2,581 11,408 (3,749) (521) 6,425 46,625
Retained earnings at start of period 28,600 32,273 36,779 39,312 50,711 49,252 51,057 59,082 61,663 73,071 69,321 68,800 28,600
Dividends - - - - - - - - - - - 10,000 10,000
Retained earnings at end of period 32,273 36,779 39,312 50,711 49,252 51,057 59,082 61,663 73,071 69,321 68,800 65,225 65,225
Page 26 of 27
Trial Balance Sequence Check Select TB:
© www.excel-skills.com Current
- ok
Acc No Amount Check
BS-100 50,100.00 ok
BS-150 -41,400.00 ok
BS-200 8,000.00 ok
On this sheet:
BS-300 - ok
The formulas in column C on this worksheet enable users to check whether the account numbers
BS-399 - ok that have been pasted into column A (from another Excel workbook or export file) are consistent
BS-400 - ok with the account numbers in the appropriate trial balance in this template. The appropriate trial
BS-500 -3,900.00 ok balance that you want to check (Current, Prior or Forecast) can be selected from the list box in
cell E3 and an error message will be displayed in column C if the account number sequence
BS-510 - ok
which has been pasted into column A is not consistent with the selected trial balance. You can
BS-520 -10,000.00 ok then amend the account numbers until no error messages are reflected before pasting the trial
BS-530 - ok balance amounts into the appropriate monthly period of the selected trial balance.
BS-550 -5,000.00 ok
BS-600 -5,165.43 ok
BS-700 -42,560.00 ok
BS-800 -100.00 ok
BS-900 - ok
IS-100 -773,332.09 ok
IS-200 412,542.63 ok
IS-305 8,421.00 ok
IS-310 13,684.20 ok
IS-315 526.32 ok
IS-320 - ok
IS-325 1,245.14 ok
IS-330 336.82 ok
IS-335 - ok
IS-340 3,403.50 ok
IS-345 1,401.75 ok
IS-350 84,210.48 ok
IS-355 - ok
IS-360 - ok
IS-365 170,000.00 ok
IS-370 1,292.10 ok
IS-375 1,450.22 ok
IS-380 12,204.40 ok
IS-385 592.11 ok
IS-390 3,750.34 ok
IS-395 - ok
IS-400 11,400.00 ok
IS-500 5,280.00 ok
IS-600 19,955.00 ok
IS-650 10,000.00 ok
IS-700 1,000.00 ok
IS-800 -20,877.19 ok
IS-810 -1,000.00 ok
IS-820 -1,122.00 ok
IS-830 - ok
BS-BANKB1 55,584.16 ok
BS-PCASHPC 1,000.00 ok
BS-DEBTORS 87,515.00 ok
BS-CREDITORS -68,948.46 ok
BS-INVENTORY 25,300.00 ok
IS-INV MOVEMENT -2,990.00 ok
BS-RETAINED -28,600.00 ok
Page 27 of 27

Monthly Management Accounts Template Free Excel Template

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Monthly Management Accounts Template Free Excel Template

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Excel Skills | Management Accounts Template

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The following sheets are included in the template:

Default Reporting Classes

Linking Classes to Accounts

New Reporting Class Codes

Prior Year Trial Balance

Current Year Trial Balance

Forecast Trial Balance

Cash Flow Statement

Monthly Income Statement

Trial Balance Check

Help & Customization

Year End Period February

Reporting Period End Date 29 February 2016

Prior Year Reporting Period Feb-2015

Cash flows from investing activities

Cash flows from financing activities

EQUITY & LIABILITIES

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