Excel Cash Book Question
Jarod asks: Hi, I downloaded the excel cash book
for use of bookkeeping. May I know where to input the initial capital
because the opening balance of every month is linked to the previous
Answer: The yellow opening balance cell is the place to enter your initial amount.
It does not matter that it is linked to the previous month.
When you type your initial balance into it, the link to the previous month will be removed; you won't need it anyway.
say you start in October 2014 and work through the whole
year until you come to the end of September 2015 you need to archive
this one, download a new, blank cashbook, enter September's
closing balance into the October opening balance
and start the cycle again.
Rent and Commission Question
Nadeem asks: How do you put in a two column cash book, the following:-
- Rent received from tenants,
- Then deduct commission,
- Balance paid to landlord?
Most of the tenants pay their rent by cheque. Commission is included in the rent payment. For example:-
- Tenant pays £1,210.00
- 5% commission due to me is £60.50
- Payable to landlord is £1,149.50
You would simply
- Rent received as money in
- Payment to landlord as money out
- The balance left will be the amount
of the commission which you would have to keep a record of in a notebook if
there is no column for it.
See example below (click on image to enlarge).
At the end of the month you can add up the rent and commission columns.
This is helpful if you receive rent from several different tenants because it
will enable you to quickly track how much commission you are actually earning.