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Sole trader accounting spreadsheets small business accounting tool

Purchases Accounting Spreadsheet

 

The expense accounting spreadsheet is the prime entry document and is the small business accounting tool used to record the expenses of the sole trader. The purchases spreadsheet file consists of 12 monthly expense accounting spreadsheets, one for each month of the year. Designed using excel 2003 the accounting spreadsheets work using all excel programs from 1998 to 2007 and also the open source spreadsheet program.

 

The sole trader accounts spreadsheets are designed to be as simple and uncomplicated as possible and basically consists of making a list of the expenses each month. The bookkeeping is really as easy as making a list with expense analysis produced by entering a single expense letter to direct the purchase expenditure to the appropriate column.  The letters used for the expenditure classification being shown at the top of each expense column and listed in the sole trader user guide

 

The purchases sole trader accounting spreadsheets template has the following columns to record the business expenses:

 

  Total for Month 0 0.00
Purchase Date Supplier Purchase Reference / Invoice Number  Enter Expense Code Letter Enter Business Mileage Total Purchase Value incl Vat
0.00
         
         

 

Column A Purchase date  - This is the date the expense was incurred or purchase invoice date

Column B Supplier - simply enter the name of the supplier

Column C Purchase invoice number - Enter the purchase invoice number or reference to identify the supporting paperwork

Column D Enter Expense Code Letter - Enter a single letter  which is then used by the formulae to analyse the expense, the letters are listed at the top of the expense classifications and in the sole trader user guide and are quite logical, e.g.. Enter S for Stock,  A for Advertising expenses, P for Premises Costs etc.,

Column E Purchase mileage - If the sole trader is claiming mileage allowances as an alternative to claiming vehicle running costs then the mileage incurred on buying trips can be entered in this column alongside the invoice to which it relates. That automatically satisfies the HMRC rule that the date, location, purpose of journey is stated as the mileage is associated with the expense incurred on the same row.

Column F Total Purchase Value - this is the purchases accounting column where the total purchase price including vat is entered. No column is provided for value added tax as the vat is an expense for a non vat registered sole trader.

 

the next columns, shaded blue, which are driven by pre formatted formulae to show the expenses which have not yet been paid, the creditors, and the number of days that purchase invoice has remained unpaid for management information purposes.

 

How Paid 0.00 0.00 03-Oct-09
  Payments Made to Creditors
Cash Actual  Amount   Paid Purchases waiting payment Purchases number of days outstanding
Bank
Credit Card
     
     

 

No entries are required in the expense analysis section of the purchases spreadsheet which is completed automatically using the expense analysis letter already entered. The bookkeeping software uses the letter entered to determine which column to place the expenditure, totals that expenditure and also transfers that total to the profit and loss account.

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Stock Purchases for resale Sub contractors Staff costs Salaries Wages Consultancy & Professional Motor Expenses 0% Travel & Subsistence Repairs & Renewals
Personal Use
Motor Expenses
S C E L M T R
               
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Premises Rent Rates General Administration  Heat and Light 0% Bad Debts Other Expenses Donations entertainment Goodwill / Capital write-off  Fixed Assets (items over 100)
Personal Use
Heat and Light
P A H B O D G F
                 

 If preferred the expenses can be entered in these expenditure analysis columns manually although it is better to use the automated "Single Letter" feature as then the purchases accounting spreadsheet is automatically mathematically correct. for the financial accounts.

 

What happens to the bookkeeping information entered? 

Sole traders who are not vat registered have total sales income below 64,000 in 2007-08 and that enables the short self employed tax return rather than the full return. In the short tax return a detailed expense analysis is required if the sales turnover exceeds 30,000 The expense accounting spreadsheet provides all the information required and the financial accounting file collects the totals and uses a formulae to complete the correct tax return with either a full expense analysis or abbreviated expense analysis as required

 

 

The sole trader accounting user guide that accompanies this self employed bookkeeping system help save a sole trader  money

Simple accountancy software designed to save many times the cost of buying it.

The expense headings used in the purchase excel spreadsheet have not been arbitrarily selected. This self employed small business bookkeeping software uses the same expense analysis headings as the inland revenue self employed tax return. A solution for a simple bookkeeping system with notes in the bookkeeping system user guide as to what items should be analysed to which columns.

Brief descriptions of the full range of Accounting Software, Payroll Software,  are available on the DIY Accounting home page

"Purchase expense accounting spreadsheets for sole traders with preset columns to record and analyse expenses for bookkeeping purposes"

 

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Last modified: 10/03/09