When reconciling the cash book to the bank
statement you can select different letters from the drop-down list. R
for reconciled; C for checked; X for not reconciled; a dash for
whatever reason you may want; you chose which one you want to use.
Excel Cash Book In the Red
is not enough funds in the account, in other words, when it goes into
overdraft, the cash book shows the number in red as in the example
here where it is -$30.00
As mentioned above, the Income Statement is
linked to the other pages.
The 'Headings' are linked to the Control tab; and the 'Amounts' are linked to all tabs so you get the total
for each month.
This is the same throughout the income
statement for each section Income, COGS and Expenses.
If you traded in a previous tax year and have an opening bank balance then you actually also need to enter the balance sheet balances from your previous tax year into the Opening Balances column on the Balance Sheet tab, otherwise it will not balance.
If you do not have a balance sheet from the previous tax year, but were in business and have an opening bank balance this tax year, you will not be able to use the Balance Sheet in this cash book until you have got one - you should be able to get it from your Tax Accountant (if you used one), or do a separate cash book for the previous year's trading and enter all your income and expenses into it to work out what the balance sheet items from that year are.
The balance sheet headings are linked to the control page, and the monthly columns are linked to each page so you get the total of each column in yellow. These are:
- Capital also known as Owner's Funds Introduced or Personal Deposit
- Loans Received
- Loan Repayments
- Asset Purchases
- Credit Card Repayments
- Inter-bank transfers
- Tax payments
- Inventory on Hand value
The above type of payments have to be reported on the Balance Sheet not the Profit & Loss Report.