In the ‘Purchases & Expenses’ tab you record all purchase invoices and receipts, but also other expenses such as owners’ withdrawals, insurance collections etc. As a rule, all bank and cash expenditures are recorded here.
Enter all purchase invoices. Last year’s invoices too. Enter the date, transaction type, invoice number, and a description. Then select a supplier. Enter the amount excluding VAT and the applicable VAT rate. VAT is automatically calculated. In the ‘Status’ column, select whether the invoice is still ‘Outstanding’ or has been paid to your supplier via Bank or Cash. Then select a category (which in most cases would be a cost account. Range: 2200 – 3310. Don’t worry. You can always change the category later.
The Excel bookkeeping template assists you in avoiding (fatal) mistakes when processing your transactions as much as possible. A warning will appear in the Check column when you make a mistake. The following messages may appear:
This message shows up when you forget to enter a mandatory field. Simply enter any missing data. For instance, a relation, category or date.
Date outside financial year
All purchases & expenses outside the financial year are not calculated in the reports. In that case, you will see this message. You can change the financial year at the ‘Settings’ tab.
On opening balance
The only exception to this rule is outstanding balances from last year. They will show up as accounts payable on the opening balance. Has the invoice been paid? Then this line belongs to a previous year.