Hello everyone, thank you for taking the time to view this video. This is the Bookkeeping Master on YouTube. In this video and the videos following, I'm going to show you how to create a bookkeeping spreadsheet on Excel. This spreadsheet will help you record your income and expenditure, as well as create a profit and loss statement and balance sheet. Moreover, the balance sheet and the profit and loss statement will be updated automatically for you. So, the final product will look something like this. To start, I'm going to open a new Excel page and delete the old one I had. There's no need to save that. First of all, I'm going to merge the cells to create blocks of two. Then, I'm going to drag it across the screen to about column H. This should provide enough space for what I'm demonstrating today. Additionally, I'm going down as far as about 70-72 lines, which should be sufficient enough. However, keep in mind that you may need to adjust the size based on your business and the number of transactions you have each month. Moving on, I'm going to put a border at the bottom of the text to differentiate it. Now that our border is in place, I'm going to put in the data description. This video will demonstrate how to set up the actual template. In the following videos, I will show you the equations that need to be put in and how the spreadsheet works. For now, I'm only showing you how to set up the template. Next, I'll input any assets and liabilities the business may have. This includes the bank account, savings account, petty cash account, loan account, and capital account. However, keep in mind that you may have more or fewer assets and liabilities depending...
Award-winning PDF software
Video instructions and help with filling out and completing Form 8655 Bookkeepers
