Embedded Files
Popular types include trial balances, balance sheets, profit and loss statements, income and expenditure statements, invoices, bank statements, and receipts.
Popular types include trial balances, balance sheets, profit and loss statements, income and expenditure statements, invoices, bank statements, and receipts.
Trial Balance
Trial Balance
A trial balance is used for checking that there are no mathematical errors in a company’s accounting books. It is prepared periodically. The totals from the different accounting records are entered into the debit and credit columns and they should balance
How to type a trial balance
• Centre the heading.
• Type the column headings in bold.
• Align figures in columns
The zoom video below shows how to prepare a Trial Balance using Ms Excel. The image is the result.
zoom_4.mp4
Profit and loss statement
Profit and loss statement
This is also called an income statement or an income and expenditure statement. It is used to summarise a company’s profits or losses over a period of time, such as a year. It records all revenue and operating expenses.
The zoom video below shows how to prepare a Profit & Loss Account using Ms Excel. The image is the result.
zoom_0 (2).mp4
Balance sheet
Balance sheet
A balance sheet shows the financial situation of a business at a particular date. It summarises the assets and liabilities.
How to type a balance sheet
• Centre the heading.
• Right align figures in columns
The zoom video below shows how to prepare a Balance Sheet using Ms Excel. The image is the result.
zoom_0 (1).mp4
Invoices
Invoices
An invoice is a statement or bill given by a seller to a buyer asking for payment. It may be for goods or for services. It sets out the items purchased and delivered or the job done, with any additional expenses such as the cost of delivery, and may include a statement of sales tax.
Bank statements
Bank statements
Bank statements are issued by banks for a particular bank account for a given period, usually a month.
They list all transactions that have occured during the period.
Paper statements may be sent via postal mail or electronic statements may be viewed online.
Receipts
Receipts
Receipts are issued to show that a sum of money has been received in exchange for goods or services. A receipt can be used as proof of purchase and is useful in case the goods are faulty and you have to return them.
activity 1
activity 1
Type the trial balance below using Microsoft Excel software.
Save as 'Trial Balance RJS'
activity 2
activity 2
Type the Profit & Loss Account below using Microsoft Excel software.
Save as 'P&L Mandeville'
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