Work Sheet
An accounting worksheet is a document used within the accounting department to analyze and model account balances. A worksheet is useful for ensuring that accounting entries are derived correctly. Several examples of accounting worksheets are as follows:
- Trial balance adjustments. The unadjusted trial balance for a reporting period is exported from the accounting software into a spreadsheet, and then adjusted in the spreadsheet to determine the effects of possible adjusting entries. If the outcome is correct, the entries are then input into the general ledger.
- Account balances. An accountant may maintain a detailed listing in a worksheet of the contents of each balance sheet account. If a worksheet total does not match the account balance to which it is linked, it may be necessary to adjust the balance of the account. These worksheets may be provided to the auditors as part of the annual audit, as evidence that the balance sheet accounts are correct.
Accounting worksheets may contain errors or formula inaccuracies, since they are separate from the accounting database and are manually maintained. Consequently, it is necessary to review them carefully before relying on their summary totals.
How to Work Sheet Report?
In the Account Reports menu, select Work Sheet.a) View Data.
1. Select As on Date.
2. Then Click Report.
b) Report:
| Demo Company | ||||||
| Work Sheet | ||||||
| As on Date : 15/07/2018 | ||||||
| Particulars | Trial Balance | Income Statement | Balance Sheet | |||
|---|---|---|---|---|---|---|
| Dr. Amount | Cr. Amount | Expenses | Income | Assets | Liabilities | |
| Account Payables | 0.00 | 12,72,652.00 | 0.00 | 0.00 | 0.00 | 12,72,652.00 |
| Account Receivables | 90,268.00 | 0.00 | 0.00 | 0.00 | 90,268.00 | 0.00 |
| Administration Overheads | 4,51,277.00 | 0.00 | 4,51,277.00 | 0.00 | 0.00 | 0.00 |
| Capital Account | 0.00 | 69,81,500.00 | 0.00 | 0.00 | 0.00 | 69,81,500.00 |
| Cash-at-Bank | 53,87,900.00 | 0.00 | 0.00 | 0.00 | 53,87,900.00 | 0.00 |
| Cash-in-Hand | 13,75,259.00 | 0.00 | 0.00 | 0.00 | 13,75,259.00 | 0.00 |
| Discount Payment | 5,379.00 | 0.00 | 5,379.00 | 0.00 | 0.00 | 0.00 |
| Discount Received | 0.00 | 28,050.00 | 0.00 | 28,050.00 | 0.00 | 0.00 |
| Fixtures and Fittings | 3,00,500.00 | 0.00 | 0.00 | 0.00 | 3,00,500.00 | 0.00 |
| Miscellaneous Income | 0.00 | 2.50 | 0.00 | 2.50 | 0.00 | 0.00 |
| Office Equipment | 1,71,500.00 | 0.00 | 0.00 | 0.00 | 1,71,500.00 | 0.00 |
| Opening Stock | 4,38,500.00 | 0.00 | 4,38,500.00 | 0.00 | 0.00 | 0.00 |
| Other Receivables | 1,00,000.00 | 0.00 | 0.00 | 0.00 | 1,00,000.00 | 0.00 |
| Payables Non Current | 9,000.00 | 0.00 | 0.00 | 0.00 | 0.00 | -9,000.00 |
| Profit & Loss Account | 0.00 | 0.00 | 0.00 | 5,01,947.50 | 5,01,947.50 | 0.00 |
| Purchase Account | 10,87,860.00 | 0.00 | 10,87,860.00 | 0.00 | 0.00 | 0.00 |
| Purchase Return | 0.00 | 28,240.00 | -28,240.00 | 0.00 | 0.00 | 0.00 |
| Sales Account | 0.00 | 7,08,750.00 | 0.00 | 7,08,750.00 | 0.00 | 0.00 |
| Sales Return | 2,08,500.00 | 0.00 | 0.00 | -2,08,500.00 | 0.00 | 0.00 |
| Stock-in-Hand | 0.00 | 0.00 | 0.00 | 9,28,126.00 | 9,28,126.00 | 0.00 |
| VAT Payable | 0.00 | 4,748.50 | 0.00 | 0.00 | 0.00 | 4,748.50 |
| Grand Total : | 96,25,943.00 | 90,23,943.00 | 19,54,776.00 | 19,58,376.00 | 88,55,500.50 | 82,49,900.50 |