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Help getting started on Excel spreadsheets

  • 25 posts
  • # 73065

Hi everyone, Have just passed my exams and have my practice licence, and whilst I’m waiting for my first client I was going to get myself set up with a few Excel spreadsheets. I noticed that lots of you use Excel for your clients and was wondering whether you made them all yourself or did you download them from somewhere?? I have never used Excel before so some advice or some to download to have a look at would be great.

  • 46 posts
  • # 73068

Hi Nikki!

I've tried using the downloads from (e.g.) MS website, but none have done exactly what i want, so i've created my own.

However i'd advise getting familiar with Excel first off. There are inbuilt tutorials in Excel, and being an MS programme it's pretty straightforward to use and learn.

You may find that your clients have their own accounting methods in place, so you can maintain whatever system they use.

Good luck and have fun learning!
Helen x

  • Fellow PM.Dip
  • Practice Licence
  • 3 posts
  • # 73814

 

Hi Nikki,

I use Excel a lot, however I would offer a few words of warning regarding the software.

If you have clients who have a large volume of transactions Excel can be unreliable, it has a tendency to crash if you over load it. 

Also if your client requires their accounts audited, Excel is very easily manipulated and would present a significant audit risk to an auditor, therefore a significantly increased audit fee.

That said if your clients are just small businesses Excel is great.

Once you understand the basics of writing formula I would recommend looking at the Pivot Table function provided by Excel and the Sumif function. 

Pivot tables are to large a topic to go into here, but the Sumif function give you the ability to calculate the total of entries in say column A based on Values Entered in Column B.  It is a great function for calculating account totals from lists of entries.

As Helen said though if your clients already have a system your probably best sticking with that, especially if it's sage, that's the best product for the job I have ever used.

Regards
IanB

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