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Copyright © 2022 Bamboo Network Limited. All Rights Reserved.
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1.
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Do not delete any sheet and any cell on this sheet. If needed, you can right click on this sheet's tab and choose "hide this sheet".
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2.
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Below are the 5 account types and their rules of debit and credit.
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Account TypeIncreaseDecrease
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AssetDebitCredit
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LiabilityCredit Debit
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CapitalCredit Debit
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ExpenseDebitCredit
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IncomeCredit Debit
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Tips: always try to think of "Asset" and "Liability" first - [debit = increase & credit = decrease] for asset; and liability is the complete opposite of asset.
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3.
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Start with [1. Entries] and mark every transaction down
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- Description is used to record the details of the transaction
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- Account Name is used to categorize the transactions
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- Account Type is limited to the above 5 types
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- Always check if SUM of DEBIT & SUM of CREDIT are the same
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- Always just mark ONE CURRENCY, and convert the other currencies in column G to I
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- If you are complete new company, you can delete the "opening balance" and start with your first transaction
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- If you are existing company, always start with a new financial year and bring all opening balances from an audited "Statement of Financial Position".
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4.
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[2. Sum of Accounts] is a pivot table. You can easily calculate your income and expenses here.
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You don't need to edit anything here. If you have enter entries properly, you just need to right click the table and choose {refresh}.
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---------------------------------- If you want to prepare your own Income Statement & Statement of Financial Position, you can follow the below ----------------------------------
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1.
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For Income Statement & Statement of Financial Position, you can easily copy the Account Names and its amount in [2. Sum of Accounts] under each Account Type in the statements
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2.
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For the red Account Types below, you need to reverse the + / - for them (add a "-" in front).
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Liability
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Capital
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Income
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3.
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For Statement of Financial Position, we can add this year's "NET OPERATING PROFIT/ LOSS" from Income Statement to "Retained earnings/ (loss)"
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4.
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You should see "TOTAL ASSETS" is equal to "TOTAL LIABILITIES & CAPITAL"
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