Accounts Payable Ledger
Using from Month to Month
Every time you enter new data to the spreadsheet, remember to Save before exiting.
The recommendation is to build up a new list each month.
For example, if it is the month of May and you are entering all May dated invoices then save your spreadsheet with the name Accounts Payable - May 20xx.
As soon as the month turns to June, start a new spreadsheet and call it Accounts Payable - June 20xx.
When it comes time to paying all the May dated invoices, enter the payments you made into Column 1 in the May spreadsheet.
If there is a supplier that you are paying off over several months, enter the payment you made in May, then copy and paste that row into your June spreadsheet (*search your Excel help section on how to copy and paste rows or columns)
You will do the same for the next month, you will enter the June payment and then copy and paste that row into the July spreadsheet and you will keep rolling this over into every new month until the invoice is all paid up.
You may also like Accounts Payable Procedures which will give you more information on the process of managing your business bills.
Contact me if:-
- You are struggling to find the how-to help that you need from Excel's help link, or if
- You need more help on how to process Accounts Payables.