The Small Business Tax Help Blog

Posts Tagged ‘spreadsheet’

Zero based budget spreadsheet with business budget

Question: I use my personal bank account for my business often (even though I have a business account)?

…How do I record those expenses from a personal account for business use in QuickBooks Simple Start? Should I add a new bank account, or record everything in my business checking register and just indicate it was owners equity? I normally track all personal account business expenses with an excel spreadsheet-so I have two sets of books–which is confusing at times. How should I correct this?

Answer: Each time you use your personal account to pay for a business expense, you should record it as a loan from owner, a liability the business owes to you. When you reimburse yourself from the business account, the loan is debited. Recording it as owners’ equity is not a good idea.

Small business adviser | Keeping cash flow in control

Question: My business earned a profit of $25,000 in 2010, but I have no money in the bank. How can that be? Answer: Your question addresses the difference between profit and cash flow. Understanding these two financial concepts is critical to running a successful business.

Summarizing budget data with a PivotTable: Excel 2007 Creating Business Budgets from lynda.com

Question: Is there a Mac version of Excel?

I have a Apple Mac computer less than a year old. It didn’t come with word and Excel. It has Apple software, but I don’t know much about it. There are lots of applications on here but I have no idea what they do. Is there a Mac equivalent to Excel that may already be on my Mac? Or is there a free program I can download somewhere? I just need a simple spreadsheet that will add up the accounts for my business if I put in my sales and expenses each day. At the moment I write them in a book and use a calculator and it takes ages.

Answer: You can try Open Office or Neo Office, which are free, or buy MS Office for Mac. The latest version is Office 2008.

Steps to improve finances in 2011

The holiday trim has been packed away. The parties are over. That New Year’s resolution to lose 10 pounds? Abandoned. It’s not too late, however, to resolve to improve financial health in 2011. We’re not talking about run-of-the-mill resolutions.

Business Plans : How to Write a Budget for a Business Proposal

Question: ACCOUNTING HELP..A General Ledger for month 1 to 31st march is being made?

where do dese go

6.Depreciation. A standard depreciation amount of $350.00 for Equipment, Furniture & Fittings and Motor Vehicle is applied each month so that the monthly and year-to-date profit figures are more accurate. This amount is posted as a Debit to Depreciation Expense and a Credit to Accumulated Depreciation.
7.Cash At Bank. A download of the bank statement showed that all cash receipts and payments had been processed. One item not yet accounted for was Bank Charges of $28.00. GST is not charged on this item.
8.The owner, James Hing, drew out $1000 in March from the business for personal expenses.
9.Entries for Depreciation and Drawings are made through the General Journal and worksheet.

END OF MONTH ADJUSTMENTS or DURING THE MONTH and CLOSING

for more details on the assignment go2

http://dayalaman.250free.com/ICCAcctAssignment_a06.htm

Answer: 6) Debit the Depreciation expense by $350 and credit the Accumulated depreciation also by $350.
7)Credit the cash at bank account by $28.
Debit the drawings account by $1000

Wajahat Ali: Fighting Wells Fargo and Foreclosure

Could it be that the best chance to save a young family from foreclosure is a 28-year-old Pakistani American playwright/attorney who learned bankruptcy law on the internet?

(Personal Finance Budgeting) – GET YOUR FREE SOFTWARE HERE

Question: Accounting for total Dummies / Quotation and Invoice Templates for my business?

I need to keep track of my expenses, especially as I’m having building work done so need to keep track of all expenditure incl method of payment – eg, Cash, Internet Banking etc.
I am totally useless with figures and MS Excel is way way way past my abilities.

So therefore I need a free software program that comes as simple as it can.

Also, looking for software that I can use to design, print, copy etc personal business stationary templates such as for Client Quotes and Invoices / and customizable as well – as in, when I quote, I like to give a detailed itemized quote.

Answer: Well, the obvious answer is Quickbooks by Intuit. Everything mentioned above – including Client Quotes and Templates – part of the Quickbooks package.

12 Best Tools for Budgeting

Planning for the future is an essential piece to the survival of your business. At the beginning of each year, you should have a sense of where money is going to come in from and where you’re going to spend it. To this end, putting together an annual budget can help you determine whether you have enough money to fund operations, expand the business and generate income. The annual budget process …

Learn to Create Scenarios in Excel