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