The first thing you should do is click File > Download as > Microsoft Excel .xlsx to save a copy to your hard drive.
Should you need to start over, use this file as a template. Save the new .xlsx file with a different
name (example: 1Troop xxxxFinancial……) to keep from overwriting the first file. Delete the older file if it is no longer needed.
All formulas have been locked, and the cells are not user selectable.
If you can not see what you typed in the cell it will not print. Please move down to the next line to continue the description.
The categories will scroll left and right allowing access to all income and expense columns.
The rows will scroll up and down with the column headings fixed.
The file will open where you saved it the last time.
To print at any time, just hit print, the file should span 2 pages. Margins should be 1/4 inches where allowed.
Do not print double sided.
When you have used line 42 simply go to Page 2. The balances will transfer automatically.
When you have filled Page 2 go to Page 3.
If you use all 3 pages, you may unhide additional pages by right clicking on a page tab and selecting unhide.
A sheet named Troop Space is for your use, but does not transfer to income and expenses ledger columns.
Income, Expense, and Balance Columns will calculate automatically. You cannot alter data in these columns
since the formulas have been locked. The only exception is G4 where you enter your Beginning Balance.
Enter the date, check number if applicable, a description of the transaction, and the amount in the category
column. Income categories are blue and Expense categories are red - Columns: AI to AW and AX to BH.
When reconciling your bank statement use column C to track cleared checks and debits.
Credit Card Reader Fees
There is a column for Credit Card Reader Fees. For those using Square for product sales.
Savings Account Balance
There is an entry box for Savings Account Balance. If using a Credit Union account, you may required to also have a Savings Account, which is tracked separately.
The beginning balance automatically includes the savings amount. It is not necessary to record transfers between accounts.
The ending balance will add the savings balance to the checking balance automatically.
It is important you read the Council Guidelines concerning interest bearing accounts. Even if you do not receive a 1099 it is up to the
troop to submit a financial report by January 15 declaring the interest amount. Include a copy of the December bankstatement.
Refunds,Reimbursements, Parent Portion
A refund or return of money is not "new" income and should not be entered in the income column. It is a return to
the account of already included income and should be entered as a negative expense. Examples:1) withdrawl of $200
for the movies is an trip expense. You spend $185 so you redeposit the remaining $15 and enter it as a negative trip expense.
2) You took out money for the cookie booth cash box - it is negative profit (blue column). When you redeposit the money
it is entered as positive in the cookie profit column which will effectivly cancel the amount.
There is a difference between parent portion, reimbursement, and refund…
1) parent portion: expected from parent for trip - entered as income...
2) reimbursement: repayment of parent for something purchased for the troop - entered as an expense
3) refund: returning something to a store or getting money back due to a cancelled trip, etc. -
entered as a negative expense same column as the expense
The full amount of product sale profit (matching the product paperwork) is recorded In the income column.
If the troop has over paid and is due a refund from council, but has not received it by May 31st, the amount
should be explained as an "overpayment not yet received", and entered in the income column and as an "Outstanding" deposit.
The selling price per item for any unsold or troop purchased product is recorded in the expense column(s).
There is a column for Unsold Fall Product that the troop might have purchased to eat or as gifts, etc.
Actual deposit amounts for product may be recorded on the Troop Space sheet for information purposes.
You should be recording of all money in and all money out. (Checking Account and cash on hand.)
Money belongs to the troop when received by any agent of the troop (example: Fall or Cookie chairs)
even if the leader has not received or deposited it.
Unless you write a check or use a debit card for every purchase, you may have line items that do not have check #'s.
Your description should be what activity the money was used for not who the check was written to.
Receipts should be categorized (how much for each expense, i.e. trips or badges or camping) even
if one lump sum was paid. Deposits should also be categorized.
The Info sheet details how to categorize the entries.
All the numbers will automatically transfer. Follow the instructions on the worksheet.
The Income and Expense Totals and **Ending Balance should match the ledger.
The Difference should be zero if your account balances. The zero may or may not be visible.