Tax & Adjusting Entry Year-End Accounting Excel Worksheet
4.3 (84 ratings)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
15,209 students enrolled

Tax & Adjusting Entry Year-End Accounting Excel Worksheet

Build Excel worksheet for adjusting adjusting & tax entries, reconciling net income calculated on a book and tax basis
4.3 (84 ratings)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
15,209 students enrolled
Last updated 11/2018
English
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Current price: $139.99 Original price: $199.99 Discount: 30% off
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This course includes
  • 5 hours on-demand video
  • 29 downloadable resources
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
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What you'll learn
  • How to build an adjusting and tax worksheet from scratch in Excel
  • What the benefits of an adjusting and tax worksheet are
  • How to enter adjusting entries into an adjusting and tax Excel worksheet
  • How to enter tax entries into an adjusting and tax Excel worksheet
  • How to reconcile book net income and tax net income using an Excel worksheet
Requirements
  • Should understand debits & credits and have some experience with Excel
Description

Create a new Excel worksheet from scratch to be used in the adjusting and tax entry process.

This course is most beneficial to tax preparers and public accountants who enter adjusting entries but is also useful to anybody in accounting. Similar Excel worksheets to the ones we will construct can be useful for analyzing many areas of accounting, and the Excel skills learned in creating them are also very applicable both inside accounting and outside of it.

We will discuss the reasons for creating an adjusting and tax entries Excel worksheet. Some benefits of the Excel worksheet include the ability to enter adjusting entries in an efficient way and build an adjusted trial balance, the ability to enter tax entries efficiently and build a trial balance on a tax basis, and the ability to reconcile book net income and tax net income.

An Excel worksheet can be used to show the difference between net income on the unadjusted trial balance, the adjusted trial balance, and tax trial balance in an easy visual way. A worksheet can be used as a reference to communicate to supervisors, clients, and as a reference for us to look back at in the future.

The course will build an Excel worksheet from scratch providing tools to help with the construction for each step along the way. We will provide an updated Excel worksheet for most steps, allowing us to jump forward or to rework any part of the course without starting over. The Excel worksheets will generally have at least two tabs, one with the completed step, showing the end product, and one that has been completed up to the current step in the process, allowing us to fill it in with the help of the instructional video and the Excel tab showing the completed work.

We will then practice entering some adjusting entries and tax entries into the worksheet. As we add adjusting and tax entries to the Excel worksheet, we will better understand how the worksheet is formatted and how best to use it. We will see how net income is calculated on a book basis, on a tax basis, and how the worksheet will show the reconciliation of the two.

This course is not designed to give tax advice but to show how to construct an Excel worksheet to track adjustments.

The course will also discuss some alternative formats for building an adjusting entry and tax entry worksheet that can be found in practice. We will discuss the pros and cons of the different formats.

We will also discuss how to format an adjusting and tax entry worksheet made in the prior year so that we can enter the current year trial balance and data into it.

In addition to the instructional videos, this course will include downloadable  

•    QuickBooks Pro Desktop 2019 Backup files

•    Excel practice files

Who this course is for:
  • Tax professionals who want to reconcile book net income and tax net income
  • Public accountants who work with adjusting entries
  • Any accountant who wants to learn how to set up a practical worksheet to work through accounting transactions
  • Any accountant who wants practical practice formatting Excel Worksheets
Course content
Expand all 65 lectures 05:10:51
+ Create Adjusting Entry & Tax Entry Worksheet In Excel
14 lectures 01:19:56
3 Create Adjusting Entry & Tax Entry Worksheet In Excel
00:49
Download Backup Files
01:50
510 Trial Balance Generate Report QuickBooks Export To Excel
04:37
511 Make Trial Balance From Balance Sheet & Income Statement Excel
16:20
515 Format Debits & Credits to One Column
07:12
517 Conditional Formatting To Check If In Balance
06:42
519 Calculate Net Income On Trial Balance Excel
06:30
522 Format Header of Unadjusted Trial Balance Excel
05:55
524 Add Grid Lines Or Borders To Trial Balance Excel
02:06
526 Add Adjusting Trial Balance Column Excel
06:45
528 Add Tax Trial Balance Column Excel
05:05
530 Add Journal Entry Columns Excel
09:25
Accounting Comic Break
00:15
+ Adjusting Entry For Accounting Error
3 lectures 08:55
4 Adjusting Entry For Accounting Error
00:49
550 Adjusting Entry Correct Error Excel
07:51
Accounting Comic Break
00:15
+ Tax Entry For Nondeductible Expenses
4 lectures 29:53
5 Tax Entries For Nondeductible Expenses
00:41
560 Tax Entry Meals & Entertainment Excel
11:32
565 Tax Entry Charity, Penalties, & Political Contributions Excel
17:25
Accounting Comic Break
00:15
+ Adjusting & Tax Entries For Insurance
4 lectures 17:42
6 Adjusting & Tax Entries For Insurance
00:50
Adjusting & Tax Entries For Insurance
09:09
574 Tax Entry Prepaid Insurance Excel
07:27
Accounting Comic Break
00:16
+ Adjusting & Tax Entries For Depreciation
4 lectures 15:19
7 Adjusting & Tax Entries For Depreciation
00:33
582 Adjusting Entry Depreciation Excel
07:05
584 Tax Entry Depreciation Excel
07:26
Accounting Comic Break
00:15
+ Add Columns to Adjusting & Tax Entry Worksheet
3 lectures 05:58
8 Add Columns to Adjusting & Tax Entry Worksheet
00:24
592 Add Columns To Worksheet Excel
05:19
Accounting Comic Break
00:15
+ Enter Adjusting & Tax Entries For Sale of Fixed Asset
4 lectures 25:43
9 Enter Adjusting & Tax Entries For Sale of Fixed Asset
00:39
602 Adjusting Entry Sale of Fixed Asset Excel
13:29
604 Tax Entry Sale of Fixed Asset Excel
11:20
Accounting Comic Break
00:15
+ Tax Entry For Tax Exempt Interest Income
3 lectures 05:51
10 Tax Entry For Tax Exempt Interest Income
00:14
612 Tax Entry Tax Exempt Interest Excel
05:21
Accounting Comic Break
00:16