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Both the hardcopy columnar pad and an electronic spreadsheet version of my financial books were accepted by Revenue Canada. (BTW the audits disclosed more ways for me to claim back additional taxes for the previous three years! Now that s my type of audit!) In your new start-up business venture you likely will generate somewhere between 10 to 30 accounting transactions per month. These transactions would be items like Expense Revenue (sales) Liability (Loan) type transactions and Sales Tax (Federal + State/Provincial) Collection/Deductions. These transactions are further broken down into various Business Accounts.
Here are a few things to keep in mind while constructing your spreadsheet. Fit to Screen Fit to Page Although your wealth of information may warrant it don t make a spreadsheet that is a massive three to four screens long. A spreadsheet of this caliber is no fun for anyone especially on screen. Rolling around a spreadsheet that size especially one you aren t familiar with can become quite frustrating. Under the "Print Preview" option you can force the printer to fit the document to one page but then everything is decreased in size and makes it even harder to read the information.
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Column Alignment Depending on your information you may want to adjust where the information falls within the column. Try left center or right and see how it reads. I generally find that numbers and dates are best centered and that text seems to work with a left justification as full sentences or phrases are read left to right. But again try the different methods and see what works best for the data that you are presenting. Allow sufficient space around the information in the cells by adjusting the column width. Excel offers a feature that allows you to double-click on the end of the cell column and it automatically adjusts to fit all of your information.
This is a great setting when you are adding dates as well because it will place your data into whatever date format you prefer. Formulas Do not be afraid to take advantage of the formula options in Excel. You can make them as complex or as simple as you want or need. A very simple one is the SUM feature that will add a column of numbers for you and provide the total in whichever cell you specify. As the information in the cells changes the sum in the total cell will adjust accordingly. This is a great option for presenting budgetary numbers or inventory type items. There is a formula wizard which will help you string together any number of data sequences and configurations.