Federal Tax Worksheet
Spreadsheets can be your most effective and powerful tool in your business arsenal if you take advantage of the multitude of options and features available. Learning how to appropriately use these features will not only make your presentation stronger but also provide you with a simple means of sorting and organizing data. The data is important but will mean nothing if it isn t presented in a palatable form. Spreadsheets are the king of project management support tools because they are the most convenient tool to use and the most frequently used tool.
In particular I have been a litigation law clerk for over 21 years. I have been in business for over 15 years as a business consultant. I know what it feels like to be frustrated to start-up your own business. At EDL Consulting Services we are here to assist you with all your business needs. Have you ever had to use a spreadsheet that was hard to follow or crammed with numbers? If you have you will begin to appreciate the importance of good design and layout. The other day an acquaintance sent me an Excel spreadsheet that he had created for his own use and thought might be useful to others.
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Bonus Tip: Stick with Conventions I mentioned before that the buttons on the hard-to-use spreadsheet were square. If you look at just about any website using a button the ratio of width to height falls roughly in the range 2:1 to about 5:1. Sizes too far outside this range look a bit strange and are not as readily identifiable as buttons. Hyperlinks that you create in Excel can be formatted any colour you like but unless there is a good reason stick with the well-known blue and underlined as in ExcelProductivityTips. The spreadsheet templates that used to ship with Excel were formatted with light yellow for areas of data entry and light green for results. Some people still use this convention.
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.