Automatic journal entry

[qannas]

Hi all, I have a small business and I need to make an automatic journal entries by Excel, rather than making this manually by putting all the accounts transposed and writing the entries line by line, I need to make a sheet to write the journal entries and to be printed and directly distribute the values to the other accounts sheet.
Sorry for prolixity and waiting for your thoughts.
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Thanks.

 

[qannas]

No ideas guys!!!

 

[qannas]

Any response tells this is not possible for my relief.

 

[Titian]

Not sure just what you are attempting to achieve. Is it that you want to emulate double entry book-keeping?

If that is the case then perhaps you may like to consider a different approach where you attach a code number to each type of entry and then perhaps sort or filter your transaction using the code number.

In this way an extract from a sort or the visible cells from a filter can represent a "page" of journal entries.

Is this helpful?

 

[qannas]

Thanks for your reply.

it is double entry book-keeping but in first sheet will be the initiation of the entry(writing descriptions,select the debit account,credit account and values) once made, the other sheet will read from the first sheet, the second sheet contains all ledgers.

Note:after making the first journal entry in the first sheet you can refill it with the subsequent journal entry without erasing the journal entry from the second sheet.

Thanks again.

 

[Smitty]

One word: QuickBooks

It's great for small business, and there's even an online trial version.

after making the first journal entry in the first sheet you can refill it with the subsequent journal entry without erasing the journal entry from the second sheet.

That will require VBA for which you'll need to post examples of what you have now and the results you desire.

 

[Titian]

OK, I understand.

What you describe is possible but complex and way beyond what I can help you with.

Did you consider re-engineering what you are looking for along the lines I suggested?

Another opotion may be to consider using a small company accounting system many of which are available commercially and have all the double-entry facilities in built. In the long run probably quicker and less painful to implement.

 

[qannas]

Than you Titian, but I didn't get "where you attach a code number to each type of entry and then perhaps sort or filter your transaction using the code number.

In this way an extract from a sort or the visible cells from a filter can represent a "page" of journal entries"

How it can be done?

Thank you so much

 

[Titian]

Decide how you are to structure your Nominal Ledger, lets say:-

100 = Sales
200 = Expenses

then develop that to say

101 = Sales of Nissans
102 = Sales of General Motors
103 = Sales of Jaguars
104 ... etc

201 = Purchases of Nissans
202 = Purcases of General Motors

210 = Purchases of spares for Nissans
211 = Purchases of spares for General Motors
etc

So when you enter a transaction into lets call it your Day Book you have a column for the Nominal Code as illustrated above and each line entry will have a Code.

At the end of a period, week, month, whatever, using the facilities built into Excel you can generate extracts from your Nominal Column to provide cumulative information information for reporting and profitability purposes. Excel's Pivot Table facility will be of great help as well as its filter and sort facility.

You will need a good understanding of what Excel is capable of to get the best from this approach.

Please don't dismiss Smitty's suggestion of QuickBooks. It's been around a long time and must be used effectively by thousands of small businesses to have stood the test of time.