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HIGHLIGHTS
DOCUMENT DESCRIPTION
This template is for tracking actual business transaction data. The functionality is simple and straight forward. There is a transaction log that acts as a general ledger and database. The financial statements are programmed automatically with formulas to pull from that database and produce monthly, quarterly, and yearly views with the capability of cash and accrual methodology.
Financial statements simply mean Income Statement, Balance Sheet, and Cash Flow Statement. They all balance together.
In order to help with on-boarding and transaction entry, the purchase comes with 3 files.
• 1 Excel / G Sheet template with an example of every accrual basis transaction
• 1 Excel / G Sheet template with an example of every cash basis transaction
• 1 blank Excel / G Sheet template
• The sheet is really good at low volume / high value transaction activity as well as transactions that can be bulked together by month i.e. sales / expenses.
You will be able to enter transaction that comply with GAAP reporting / matching principles as well as simple cash basis. The accruals all have examples of their lifecycle entries from beginning to end for example you can see how to enter sales on account, collection of sales, entry of bad debt expense, allowance for doubtful accounts, writing off bad accounts, and re-collecting on accounts that have been written off.
I am always open to new logic and entries that may be helpful and are not included in this sheet. As it sits now, this Excel tool should work for a large majority of businesses and their entire accounting cycle.
Examples of Entry Types Included and Coded In:
• Sales
• Sales on Account
• Collections of Receivables
• Unearned Revenue
• Realized Revenue
• Bad Debt / Allowance
• Inventory purchases
• Inventory purchases on account
• Cost of Goods Sold
• G&A, S&M, R&D expenses on account / paid on account
• Other Income
• Other Expense
• Prepaid Expenses
• Short and Long-term investments
• Unrealized gains/losses
• Purchase of capital assets
• Depreciation
• Sale / Disposal of Capital Assets
• Dividends Issued / Received
• Income Tax Expense
• Deferred Tax Liability
• Sales Tax / Payables
• Loans / Interest / Principal Repayments
• Issuing Stock
NOTE: The secondary document has an example of all cash-basis transaction examples.
Got a question about the product? Email us at [email protected] or ask the author directly by using the "Ask the Author a Question" form. If you cannot view the preview above this document description, go here to view the large preview instead.
Source: Best Practices in Integrated Financial Model, Financial Analysis Excel: Financial Statement Generator: Cash or Accrual Basis Excel (XLSX) Spreadsheet, Jason Varner | SmartHelping
ABOUT THE AUTHOR: JASON VARNER | SMARTHELPING
I graduated in 2011 with a Bachelors degree in Accounting. From there, I worked at a few small businesses doing financial reporting and some bookkeeping. After a few years of that, I started doing freelance financial consulting work on Elance and Upwork.
[read more]
After over 400 jobs completed with a 100% success rate, I now run my own modeling/consulting practice, conduct live streams on YouTube Monday and Tuesday mornings and continue to build new financial models.
I occasionally take on custom financial modeling work.
Jason Varner | SmartHelping has published 105 additional documents on Flevy.
DETAILS
This business document is categorized under the function(s): Corporate Finance
It applies to All Industries
File Size: 575 MB
Related Topic(s): Integrated Financial Model Financial Analysis
Purchase includes lifetime product updates. After your purchase, you will receive an email to download this document.
This product contains a supplemental ZIP document.
Initial upload date (first version): Nov 9, 2022
Most recent version published: Dec 12, 2022
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