This course will walk through a comprehensive accounting problem using Microsoft Excel in a step-by-step process. You may also use another spreadsheet software like Google Sheets.
Learners will learn how to navigate Microsoft Excel as well as how to create a well-designed accounting worksheet, complete with a general journal, trial balance, general ledger, subsidiary ledgers for accounts receivable, accounts payable, & inventory, financial statements and much more.
Excel is a very good tool to learn accounting because it is much more transparent than a database program, like accounting software, QuickBooks being a common example of accounting software.
As we enter transactions into our Microsoft Excel worksheet, we will discuss how the data input would commonly be entered into accounting software like QuickBooks and what data input forms would normally drive the transactions.
The course will start out from a blank Excel Worksheet. We will build the outline for our accounting system from the blank spreadsheet.
For each new step in the process, you will have access to a downloadable Excel Workbook, containing at least two tabs, one with the answer, the new steps being completed, the other starting out where the prior presentation left off.
Therefore, you can complete the entire problem starting from one blank spreadsheet, or you can jump forward in the problem and rework any component of the problem by downloading the related worksheet at that point in the process.
After constructing the outline of our accounting worksheet, the first section will discuss the most common accounting transactions and the data input form often used in accounting software, like QuickBooks, to enter them, common data input forms including invoice, bill, deposit. . .
We will then start our comprehensive problem, constructing a new Excel worksheet and entering beginning balances into it, imagining that we had a prior accounting system which we are now converting to our new accounting system in Excel.
We will then enter two-months worth of data input. When entering the accounting data we will create the journal entry, post it to the trial balance, giving us a good look at which accounts are impacted, post to the general ledger, and make adjustments to any subsidiary ledgers needed.
We will also update the financial statements periodically.
For the second month of operations, we create a bit more complex trial balance, allowing us to calculate both the year-to-date numbers, including both months of data input, and the current period numbers, showing income statement accounts for just the second month of operations.
After entering two months of data input, we will process two bank reconciliations, using mock bank statements. As we construct our bank reconciliations, we will discuss how accounting software often accomplishes this task.
Next, we will adjust our worksheet to enter period end adjusting journal entries as well as reversing entries. For each adjusting entry we will consider the reasons for it and how to set up the accounting system so that our adjusting entries do not mess up the data input process in the accounting department.
After entering the adjusting entries we will construct our financial statements.
Everything You Need to Know About Excel Accounting Problem
This course is a comprehensive and well-structured introduction to Excel Accounting Problem. The instructor, Robert (Bob) Steele, is a leading expert in the field with a wealth of experience in Finance & Accounting to share.
The course is well-structured and easy to follow, and the instructor does a great job of explaining complex concepts in a clear and concise way.
The course is divided into sections, each of which covers a different aspect related to Other Finance & Accounting. Each module contains a series of video lectures, readings, and hands-on exercises.
The instructor does a great job of explaining each topic in a clear and concise way. He/She also provides plenty of examples and exercises to help students learn the material.
One of the things I liked most about this course is that it is very practical. The instructor focuses on teaching students the skills and knowledge they need to succeed in the real world. He/She also provides students with access to a variety of resources, including templates, checklists, and cheat sheets.
Another thing I liked about this course is that it is offered on Udemy. Udemy is a great platform for taking online courses because it offers a lot of flexibility for students. Students can choose to take courses at their own pace, and they can access the course materials from anywhere with an internet connection.
Udemy also offers a variety of payment options, so students can find a plan that works for them. The course also has a very active community forum where students can ask questions and interact with each other. The instructor is also very responsive to student questions and feedback.
Overall, I highly recommend this course to anyone who is interested in learning Excel Accounting Problem. It is a well-organized and informative course that will teach you the skills and knowledge you need to succeed.
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