Entering data in sheet TB - Column B C Page 21 22

Entering Data In The BALANCE SHEET-MAIN CATEGORY Column (Column B)

In the column titled BALANCE SHEET MAIN CATEGORY, identify and enter the main categories into which the accounts (under column ACCOUNTS) will go in the Balance Sheet. Usually, the main categories are Capital, Unappropriated Profit b/f. Investment. Inter Company. Fixed Assets, Current Assets and Current Liabilities. All Profit & Loss accounts should come under Unappropriated Profit b/f.

For example, an account named Bank A in column A would have been categorised into Current Assets in column B.

Do not miss a single account.

Do not allow blank cells in between category names.

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Entering Data In The BALANCE SHEET-SUB CATEGORY Column (Column C)

In the column titled BALANCE SHEET-SUB CATEGORY, identify and enter the sub-categories into which the accounts (under column ACCOUNTS) will go in the Balance Sheet. Usually, there is only one sub-category level in the Balance Sheet. Some main categories in the Balance Sheet do not have sub-categories, eg. Capital, Unappropriated Profit b/f, Investments and Fixed Assets. In this case, we state the same name of the main category as the sub-category name, i.e. Capital, Unappropriated Profit b/f, Investments and Fixed Assets etc.

Other main categories in the Balance Sheet have sub categories like Inter-Company. Current Assets and Current Liabilities. The sub-categories under Inter-Company are usually Holding company, Subsidiaries and Associated Company. The sub-categories under Current Assets are usually Stock, Trade Debtor, Other Debtors, Cash in Bank, Cash in Hand, etc. The sub-categories under Current Liabilities are usually Trade Creditors, Other Creditors, Term Loan, Bank overdraft, etc.

For example, an account named BANK A in column A would have been categorised into CASH IN BANK in column C.

Do not miss a single account. Do not allow blank cells in between sub-category names

Entering Data In The PL-CATEGORY Column (Column D)

In the column titled PL-CATEGORY (for Profit & Loss Category), identify and enter the categories into which the accounts (under column ACCOUNTS) will go in the Profit & Loss statement. This is relevant only for accounts which usually come into the Profit & Loss statement. Usually the categories are Income, Cost of Sale, Labour cost, Direct cost, Marketing expense Administration expense, Other income/expense, Taxation, Dividends, Reserves etc. For an account in the Balance Sheet category, write NR (for Not Relevant) or leave a blank, but be consistent (use either NR or blank throughout).

Do not miss a single account.

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