How to make financial statements in Excel step by step

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Marie-Ange Demory

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Do financial statements in Excel is very easy and practical. Therefore, it is an activity that many users want to do. The Excel tool originates in the Microsoft Corporation company, to which the development and distribution processes are attributed.

Excel is very useful for data accounting tasks, especially in the areas of accounting, math, and other amazing related branches. The budget is widely used.

Lo calculation tool in question provides a very simple way to calculate certain operations, which you can solve by creating spreadsheets in Microsoft Excel for free and without complications.

What are the basic financial statements of a company?

The basic balance sheet that a company must prepare is the different documentation that is usually done at the end of the accounting year. There, the results that the company has achieved economically based on the activities are known. These are: balance sheet, income statement, cash flow statement and statement of changes.

Making financial statements easily with the Excel tool can be very simple to do. Financial statements are official documents in which accounting information for a fiscal year is recorded. To do either of these you need to open a spreadsheet.

To do this, select the "File" option, followed by "Blank book", then save it with the name of your financial statement, "General ledger" or otherwise. Then write the title of the financial statement in 'Cell A1'.

It is recommended that you use bold to establish the title name, then include the number of columns you need, it all depends on the type of financial statement, whether it is an operational financial statement or a balance sheet.

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Next, you need to create the formulas in the corresponding cells, a clear example is to configure a formula to add the number in cell C5 of cell C4 and show a result in cell C6.

To do this, select the 'Formulas' option in the bar, use a predetermined formula or create a new one, then start inserting all the records and, automatically, the accounting calculations will be performed.

How to make a budget in Excel?

Enter Excel from the pc, then the company name must be established in row number one. Subsequently, the period to which the financial statements correspond is established. A section must be made that is directly for goods, this will include from the column with the letter B, to E.

It should be borne in mind that a section of the liabilities will have to be established from H to column K. This will leave A and D completely free. It will be listed there. All this must be repeated in the sections of the company, according to each circulating, fixed or deferred.

Making budgets with the Excel tool is simple. That doesn't mean you shouldn't do it manually, any option is valid as long as the results are the same. However, it's best to do this on a computer, as the process is automatic.

The above indicates that making a budget, whatever it is, requires fewer resources if done through the Excel calculation tool, as it saves time, one of the most important things that exist.

It also provides the ability to configure a new task in an automated way, as the math processes are performed on the fly. It also provides a way to digitally protect them.

You can also have them at any time, whether to review them, modify them, print them or dispose of them, all this to reach your budget goals from the comfort of your PC or smartphone.

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How to prepare an income statement in Excel?

The income statements can now be prepared in Excel, as it is used to perform mathematical operations. Many use it for formulas, addition, subtraction, multiplication and division. It has characteristics of self-huma, among other important issues.

There are countless guides that can be helpful in using result statements. For autosum, you need to select an Excel cell which is blank, then it is placed on the home tab, click on autosum, which will automatically execute the formula.

After creating a formula, the user should avoid rewriting it, if necessary he can copy the formula or use a function called fill handle. It should be very important that the references of these are correct.

Generate a financial statement in Excel

Making financial statements in the Excel tool easily indicates that these could be viewed on many computers, as this tool is cross-platform, which allows you to use the formulas in your Excel spreadsheet. In addition to other functions.

Smartphones do not stop being one of the devices with support for this type of tool called Excel, they can be easily downloaded from the application 'AppStore' o 'PlayStore' . Once installed, you need to open it and start enjoying it.

On the other hand, if what you want is just to view a financial statement that has already been done previously, you can try by inserting the file into the memory of a smartphone, via email or via USB transfer, among others.

So in the application Excel of the mobile phone, press on it to start, you have to position yourself in the list that will be displayed, where the projects are located, the file or financial statement is selected and will open soon.

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This way it can be viewed from anywhere, without the need to use a computer , even changes can be made if there is some kind of error or glitch.

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