HUA HIN

[bizzle]

HI guys

Ive written an accounting worksheet which will be the basis for my balance sheet and income statement, however its not adding up and Im not sure why.

I know there are alot of small business users on the site who might be experienced in doing this, would anyone be to lend me a hand as Im losing it lol.

I really dont know who/were to ask, I know this isnt an accoutning forum but Ive got some really good finance info here before so thought Id give it a try.

Ive attached what Ive come up with, format has been lost a bit but Ive put the trasactions below so can anyone see where Im going wrong?

These are the transactions

Company contributed land and buildings at

$120,000, equipment at $19, 000 and cash of $13,000.

June

4. Leased vehicle for use in the business and paid 6 months lease

$4200.

4. Purchased supplies of parts for use in the repair of computers for $1500 cash

6. Completed computer repairs $1000 cash.

8. Completed computer repairs for customer for $600 cash.

11. Paid advertising expenses $400.

17 Revenue of $1900 cash earned

19 Company withdrew $200 cash and $100 of thecomputer parts supplies for personal use.

21 Paid wages to assistant $500.

23 Cash revenue earned $350.

30 Petrol expenses paid $85.

.

Computer supplies used during the mon

th $850

Im very new to the accounting side of business and Im going to be doing alot of this in Thailand soon, so I really want to get this right at the beginning.

Really appreciate if you can help me

Thanks guys

worksheet.docx

[bizzle]

I think I might have figured out as the numbers were a bit worn on my input. With a few changes, the assets now equal the liabilities and equity but still I might be missing something so if anyone has time regarding formatting and/or the numbers, it would be much appreciated

[KittenKong]

Isn't Excel better suited to this task than Word?

[bizzle]

Isn't Excel better suited to this task than Word?

it is but you cant upload excel docs to thaivisa.

Im pretty sure Ive figured it out now, but wow, Ive still got so much more to learn

[South]

There are literally hundreds of accounting templates available for download .... search around and you will find one that suits your needs.

[Lefty]

Suggest you checkout freashbooks-google for their website.Free 30 trail,no credit card needed.you just enter the transactions and the software takes care of the rest. Balance sheets,profit and loss and cash flow statements at the push of a button.

lefty

[fletchsmile]

Bizzle

Don't know why you couldn't upload a Excel file. I just selected <more reply options> then attached this.

Had a quick look at it for you, by dumping into Excel, as it's easier. Some observations:

1) Your B/F cash of 13k and property 139k doesn't balance with your capital of 154k. There's a 2k diff. Maybe this was your net loss brought forward (b/f)?. Worth putting it in to esnure your b/f bal balances

2) Your cash column doesn't add up. You've a total of 9,465. It adds to 7,965

3) Your inventory shows a carry forward of 750. It adds to 550

4) In the prepaids column you've -606 under the balance. Don't know what this is and you haven't mentioned it, so I took it out. If it needs to be there, make sure it is in 2 columns

5) Your profit and loss column doesn't add. You show 371. It adds to -285

6) You would then have a carried forward (c/f) diff of 2k same as brought forward

Have highlighted the problem areas in red on a dump into excel of the original, and revisions in green. Saved it as XL 2003 as I don't know what version you have. Not the format I'd use, but have stuck to yours

Hope this helps. As above, I'd suggest:

A) Download some simple accounts stuff/ XL from the internet.

You may want to take a look at double entry book keeping Drs and Crs, which would help you balance the books better

Cheers

Fletch:

[bizzle]

Bizzle

Don't know why you couldn't upload a Excel file. I just selected <more reply options> then attached this.

Had a quick look at it for you, by dumping into Excel, as it's easier. Some observations:

1) Your B/F cash of 13k and property 139k doesn't balance with your capital of 154k. There's a 2k diff. Maybe this was your net loss brought forward (b/f)?. Worth putting it in to esnure your b/f bal balances

2) Your cash column doesn't add up. You've a total of 9,465. It adds to 7,965

3) Your inventory shows a carry forward of 750. It adds to 550

4) In the prepaids column you've -606 under the balance. Don't know what this is and you haven't mentioned it, so I took it out. If it needs to be there, make sure it is in 2 columns

5) Your profit and loss column doesn't add. You show 371. It adds to -285

6) You would then have a carried forward (c/f) diff of 2k same as brought forward

Have highlighted the problem areas in red on a dump into excel of the original, and revisions in green. Saved it as XL 2003 as I don't know what version you have. Not the format I'd use, but have stuck to yours

Hope this helps. As above, I'd suggest:

A) Download some simple accounts stuff/ XL from the internet.

You may want to take a look at double entry book keeping Drs and Crs, which would help you balance the books better

Cheers

Fletch:

Hey thanks a lot

That is really helpful. I'm not sure why I was so off, I think in the end I was just tired and started to make mistakes.