Forum

• # 72263
• Thu 16 Jun 2011 02:05 PM

As bookkeepers, we are awesome at all the types of bookkeeping for our clients and therefore have an intimate working knowledge of what systems are good and what are not.

I've chosen Excel. I have a sales day book tab where I list my customers' invoices. I have a mileage tab, where i log my work-based car journeys. I have a purchases day book, where I list and columnise (is there such a word?) my business related expenses. The totals from those 3 worksheets filter through to a monthly P&L worksheet.

At present, I have no requirement to hop onto computerised accounting, but perhaps one day I'll be requiring it.

So, how do you keep yours?

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• # 72265
• Thu 16 Jun 2011 03:54 PM

When starting out I think it is a good idea to utilise Excel as the main tool for bookkeeping, this can keep costs to a minimum. Convenient too, if clients provide their data in an Excel format where you can easily manipulate the data into professionally presented accounts. However, it is important to remember that Excel does not use the fundamental rules of double entry. Other accounting software will be based on double entry and will reflect the trandsactions behind the scene and this will enable reconciliations to be perfomed and identify the errors to be corrected.

I too use Excel for preparing data for importing into the accounting software. I currently use Sage, VT and Quickbooks depending to the client's paperwork as to which will be quicker to process data.

• C Wales Accountancy  

  http://www.cwalesaccountancy.co.uk 

  http://www.numbersfornerds.co.uk
  

   

  Founder and Former Branch Chair of the ICB Greater Manchester Branch

   

  
  
  'Practice Licence Without Supervision'  actually means without MLR supervision as the AAT provides my MLR Supervision. 

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• # 72273
• Thu 16 Jun 2011 05:31 PM

I have set up an excel spreadsheet for one of my clients which incorporates a debit and credit column for each ledger (of which there are 24), and a calculation at the end of each row which gives me an immedaite trial balance for the row.  The figures at the end of each month have been 'programmed' to transfer to a summary trial balance at the bottom, and from there to a P and L and to a balance sheet.  I'm able to produce figures for him on a monthly basis, and can see quickly if I've missed a double entry.  It's more time consuming than a computerised package, but the business doesn't quite justify a computer package of it's own yet and it's been fun (and challenging) setting it up.

• Debbie
  www.beckcottage.com
  
  

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• # 72436
• Wed 22 Jun 2011 08:38 PM

For my clients, I use Sage, QuickBooks and Excel.
I use excel for my business too. I have one worksheet, split with income and expenditure and a running bank balance to ensure that it reconciles with the bank statement.The income and expenditure is broken down into the various headers required in my P&L.I have set up formula to export everything to the P&L in another worksheet.
Some clients use just one worksheet for the whole year this way, others have a worksheet for every month and then a summary worksheet showing the performance on a monthly basis. Although the basic cashbook has the same format I always revise it to suit each individual client.
I have clients that similar to yourself I use separate worksheets for income and expenditure as they are VAT registered and it is easier that way.
I do have 2 clients still using the ledger books but this is because this is what they feel at ease with.

Angie

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