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Your business revenue and losses are reported as part of your annual personal income tax. For this small business start-up you won t need to buy fancy accounting software like Quick Books or AccPac to track your business. Only as part of incorporating Bizfare Enterprise Inc in 2005 was it a requirement to engage an accountant. My accountant did insist on using Quick Books software for my business accounting. Up until then using a simple spreadsheet template served my business accounting needs for over ten years. This simple spreadsheet accounting stood the test of multiple audits by Revenue Canada (CRA and Revenue Canada Goods and Services Tax.
When confronted with a mountain of data that you need to sift through and organize nothing can make your job faster and easier to understand than an effective spreadsheet. When it comes time to share this information with others you will be able to quickly and succinctly offer your findings for their consideration in an easy-on-the-eyes-and-brain form. Without having to completely learn Excel you can create an idyllic spreadsheet template that you can use over and over again to present new information just by changing the data in your cells. With so many options available in spreadsheet programs like Excel you need to consider which ones will work best for your project.
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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.