Explanation for structure of Balance Sheet page 56

Explanation for structure of Balance Sheet

Here's what you need to do:

In cell A1: Enter the name of the business,

In cell A3: Enter the title for the statement.

In cell A5: Write CATEGORY (to represent categories in the Balance Sheet). In the cells below it, enter the list of items of the main categories and sub-categories. Arrange the items accordingly, or you can follow the sample above. Make sure the spelling for each category and sub-category is the same as that used in the TB sheet.

In cell B5: Write NOTES or any other suitable name. In the cells below it, you can write any notes against each item in the list of category and sub-category.

In cell C5: Write YEAR TO DATE or some other term of your choice.

In cell C6: Write the cut-off date.

In cell A8: Starting from this cell downward, write the items that you want to appear. Make sure the spelling you use is the same as that used in column C in sheet TB (unless the item is a title).

In cell C8: Write this formula:

=SUMIF(INDIRECT("TBICS:C2000"), A8, INDIRECT("TB!H5:H2000"))

This formula assumes that there is a category written in cell A8. This formula will compute the total amount of each sub-category in sheet TB where the item is the same with one stated in cell A8. In sheet TB, the sub-category is in column B while the amount is in column H.

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Copy this formula down to each cell which has a category stated in column A.

NOTE

Understanding the SUMIF and INDIRECT functions will enable you to design the Balance sheet statement differently (to suit your own requirements).