Monthly Archive for August, 2007
Friday 10 Aug 2007
It’s important to remember that, over and above meeting legal requirements, day-to-day accounts are there to serve the business and not the other way round.
It is not always appropriate to keep full double-entry accounting records. Indeed, for many businesses, it would be a mistake that would be costly in time and effort for very little return. [...]
Happy Accountant | Accountancy, Accountant, Accounting, Bookkeeping, Limited Company, Saving Money, Small Business, Working for yourself
Thursday 09 Aug 2007
To use the sales ledger spreadsheet is easy. Just record all your sales invoices as you raise them. Allow one row per invoice.
Enter the total amounts in columns D and E (if VAT registered) and check that the figure in column F is as you have put in your actual sales invoice.
If you give different periods [...]
Happy Accountant | Accountancy, Accountant, Accounting, Bookkeeping, Errors, Excel, Saving Money, Small Business, Working for yourself
Wednesday 08 Aug 2007
To finish off this simple spreadsheet, it might be helpful to make it look slightly more presentable.Select Row 1 (by clicking on the 1) and then bring up the Format Cells dialog box (either by Menu|Format, keyboard shortcut or right mouse button menu) and then you can make the text bold (Font tab), colour in [...]
Happy Accountant | Accountancy, Accounting, Bookkeeping, Errors, Excel, Small Business, Working for yourself
Tuesday 07 Aug 2007
To format the numbers (in columns D,E, & F) so that they all have 2 decimal places, select these columns (by clicking at the top (where the column letter is) and then chosing Format|Cells and then (on the number tab) click number and make sure that there is a 2 in decimal places.
I also check [...]
Happy Accountant | Accountancy, Accounting, Bookkeeping, Errors, Excel, Small Business, Working for yourself
Monday 06 Aug 2007
First begin by heading up the columns, in cell A1:
date of invoice
invoice number (the number that you assign, since these are your sales invoices)
customer
net amount (if registered for VAT, if not registered for VAT, then head this column “gross amount”)
VAT (omit this if not registered for VAT)
gross amount
credit period given (if applicable)
date invoice is due
date [...]
Happy Accountant | Accountancy, Accounting, Bookkeeping, Errors, Excel, Small Business, Working for yourself
Friday 03 Aug 2007
I have been at the PUB (not that pub), the PowerUpBlog of Ingenuity Marketing (thanks to Michelle Golden at Golden Marketing for bringing this one to my attention) reading their what’s your story post and I’ve realised that I am guilty of giving off negative vibes about my profession.
I am apologetic at times, when I mention what I do and [...]
Happy Accountant | Accountant, Figurate, Friday Blog, Small Business, Working for yourself
Thursday 02 Aug 2007
Every financial transaction gives rise to two accounting entries:
one debit
one credit
The total value of debit entries in the nominal ledger should always be equal to the total value of credit entries.
An increase in an expense or an increase in an asset is a debit
An increase in income (eg a sale) or an increase in a [...]
Happy Accountant | Accountancy, Accountant, Accounting, Bookkeeping, Small Business, Working for yourself
Wednesday 01 Aug 2007
Since total liabilities plus capital is always the same as total assets, any transaction which changes a businesses total assets must also change the liabilities plus capital.
Another way of looking at it is: if a company buys some stock for £100, it’s total assets will have stayed the same, but the amount of cash falls [...]
Happy Accountant | Accountancy, Accountant, Accounting, Bookkeeping, Small Business, Working for yourself
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