Excel Accounting 4–Enter Data & Track Current Month & YTD

Enter sales transactions in an Excel workbook, record sales receipts, deposits, and cost of goods sold, and reconcile ending balances across inventory, sub-ledgers, and the trial balance.

Record inventory receipt with a bill linked to a purchase order, increase inventory and accounts payable, and post to the general ledger and subledgers, linking vendor and items.

Link a purchase order to an invoice by populating a billable item in Excel, recording accounts receivable, sales tax, revenue, and cost of goods sold from perpetual inventory.

Explore unearned revenue and deposits in a practice Excel accounting scenario, using negative receivables, accounts receivable sub ledger, trial balance, and adjusting entries for a guitar order.

Apply customer deposits or credits to invoices within an Excel accounting workflow. Link prepayments to invoices and understand effects on accounts receivable, unearned revenue, and the trial balance.

Explore method 2 for recording customer prepayments as unearned revenue, compare with accounts receivable, and practice journal entries linking deposits to invoices in Excel.

Explore how to set up billable items and enter staff time at hourly rates for Adam and Erika in a guitar shop, to prepare client invoices.

Create invoices using billable time from time sheets by calculating hours at set rates, posting to accounts receivable and service revenue, and updating the general ledger.

Learn to record rental deposits as unearned revenue in excel and quickbooks, set up security deposits, use accounts receivable and a sub ledger, and reconcile within a trial balance.

Develop and record a rental income estimate and invoice in an Excel practice workbook, tracking down payments and unearned revenue, accounts receivable, and equipment rental income.

Learn how to record a financed equipment purchase in Excel by increasing furniture and equipment, recording a loan payable, and applying depreciation and capitalization rules for balance sheet presentation.

Explore how to categorize fixed assets in Excel, align book and tax depreciation schedules for property, plant and equipment, and perform journal entries and subledger considerations.

Enter and categorize month-end bills in accounts payable, post to the general ledger and subledger, and reconcile current month and year-to-date totals while paying vendors like Verizon and Spectrum.

Learn to pay January sales tax from the February entry by posting to sales tax payable and the checking account, and review month-to-date and year-to-date balances.

Enter payroll for the second month in an Excel accounting worksheet, calculating gross pay, withholdings, net pay, and year-to-date taxes, W-2 and 941 forms.

Process the second month's payroll by recording each paycheck, posting payroll expenses and liabilities as journal entries, and balancing to the trial balance.

Track payroll liabilities by paying federal income tax, Social Security, and Medicare through three checks and proper journal entries to reduce the payroll liability and adjust the checking account.

Create year-to-date financial statements in Excel after the second month of data input by building a trial balance into a balance sheet, income statement, and a statement of equity.

Create February-only financial reports after the second month, using the practice workbook to generate month-specific income statements and a balance sheet aligned with year-to-date data and equity.