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Sole trader accounting spreadsheets small business accounting tool Sales Accounting Spreadsheet
The sales accounting spreadsheet is the prime entry document and is the small business accounting tool used to record the sole trader sales income. The sales bookkeeping file consists of 12 monthly sales accounting spreadsheets, one for each month of the year. Designed using excel 2003 the accounting spreadsheets work using all excel programs from 1998 to 2007 and also the open source spreadsheet program.
The sole trader accounts package is designed to be as simple and uncomplicated as possible and basically consists of making a list of the sales each month. The bookkeeping is really as easy as making a list as it is based upon single entry bookkeeping and not double entry bookkeeping..
The sales accounting spreadsheets template has the following columns to record the business sales:
Column A Sales date - This is the date the sale was made or sales invoice date Column B Customer name - simply enter the name of the customer or source of the income Column C Sales invoice number - this column is provided to enter a reference for the sale which would normally be the sales invoice number but could be anything the sole trader finds helpful to be able to trace the sale Column D Receipt record- this column is where the customers type of payment method was used when the outstanding sales invoice was actually paid e.g. enter the payment method cheque, cash or debit debit etc., Column E Sales mileage - If the sole trader is claiming mileage allowances which 40p a mile for the first 10,000 miles and 25p per mile thereafter then the actual miles are entered in this column following which the calculation of the mileage expense allowance is calculated automatically. If mileage allowances are not being claimed then this column on the accounting spreadsheet is left blank Column F Gross Sales Value - this is the sales accounting column where the total gross sales is entered Column G Other sales income (start up grants) - New start up business may receive enterprise and business grants which if applicable would be entered in other sales income.
No entries are required in the next 2 columns which are driven by pre formatted formulae to show the sales values still not paid, the debtors, and the number of days that sales invoice has remained unpaid for credit control purposes.
The final 2 columns would only be used by sub contractors who have been paid under the CIS system where income tax is deducted from the gross sales value.
Column J CIS Tax Deducted - This is where the CIS income tax deducted from the sales invoice is entered. Column K CIS Certificate number - When a contractor has issued a CIS certificate the reference number of that CIS certificate would be entered for information purposes.
The amount of income tax deducted is collected from the sales accounting spreadsheet and automatically entered on the self employed tax return to be deducted from the net tax payable on the business profits. The self employed tax return is in the financial accounts file. SCREENSHOT SOLE TRADER SALES ACCOUNTING SPREADSHEETS
What happens to the bookkeeping information entered? Each column of the sales spreadsheet is automatically totalled The totals of each accounting spreadsheet is then collected by the accountancy software to produce the sales turnover and complete the simple bookkeeping system by automatically producing the monthly profit and loss account and self employed tax return in the financial accounts file. The sole trader accounting user guide that accompanies this self employed bookkeeping system has notes on mileage allowances and other tax tips to help save you money including travel and subsistence allowances that can be claimed by a sole trader while are working away. Simple accountancy software designed to save many times the cost of buying it.
Brief descriptions of the full range of Accounting Software, Payroll Software, Company Formation are available on the DIY Accounting home page "Sales accounting spreadsheets for sole traders with preset columns to record the small business sales income for accounting purposes" |
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