Accounting, help with calculations!

You would not have money in money out on a P & L, a P & L is not a cashflow statement, the cashflows are the resultants of the transactions within the accounts, the bank merely features as an asset or liability in the balance sheet.

When you sell for cash for say £1,000 you have Dr Bank £1,000, Cr Sales £1,000, only the Credit features within the P & L, the bank side features within the balance sheet, all the debits/credits to bank, plus b/fwd, creating the c/fwd.

How I use excel re accounts prep is say as an extended trial balance, if I want to create accounts from this I set up the accounts layout and link the end cells in the ETB through to the accounts page (remember to deal with positives/negatives), in effect get the double entry sorted within the ETB and extract the resultants re reporting.

In reality Excel is not a great tool re final accounts, text formatting etc is not simple and whilst in the past I produced some accounts using excel these days one would more likely export as a csv file or manually post the trial balance figures into software designed to produce accounts.

The key to using excel re accounts is a very strong understanding of your debits and credits, understanding what the two sides are re any accounting transaction is crucial.

So what do you need to produce, just an accounts layout something like the following with various subtotals etc?

Sales

Cost of Sales
Opening stock
Purchases
Closing stock

Gross Profit
Other Income

Distribution costs
Administration costs
Finance Costs

Profit before tax
Taxation
Profit after tax

Is that the sort of thing, what sort of entity.

I suspect excel is what you have to work with, i just find it clumsy re actual published accounts, as a school exercise I am sure it will be fine.

This is the layout https://i.imgur.com/wxbtfaH.png.

Okay, I get it, a receipts and payments sheet reconcilling cash in and cash out for the week.

Where again are you stuck, was it the b/fwd and c/fwd bit?

Oh okay, so that's how you calculate the balance carried forward. But how do you calculate balance brought forward? And what would I put in for the total column? Sorry for all these questions x_x I don't do accounting.

The Balance b/fwd is the cash you start with at the start of the week, if any, presume question gives you this, you cannot really calculate it as it is what it is.

The Balance b/fwd is the cash you start with at the start of the week, if any, presume question gives you this, you cannot really calculate it as it is what it is.

Thank you very much! Is the section for the total column the same as the what you get for balance brought forward/balance carried forward then? For example if you got 1000 in balance carried forward you would put 1000 in the total section?