Nice system! Three questions. I have a service business, I don't have inventory. Will this present a problem with the different qty columns? Bank reconciliation, is the input manual or automated? If automated, how does that work. Would the starter template work better for a service based business? Thanks!
Thank you! 1. This won't present a problem if you have a service business, you can hide or ignore the qty columns if you are not tracking inventory. 2. Bank reconciliation: The Cash Ledger is auto-populated based on the transactions you enter in the spreadsheet. The actual bank statement from your bank would need to be manually entered or copied and pasted in. 3. The starter template is perfect for your business if you are not tracking inventory. But keep in mind, the starter template does not include the bank reconciliation functionality. I also offer custom-built spreadsheets, you can email me at learnwithpre@gmail.com for more info! Hope that helps!
It's a one time fee and then you completely own the spreadsheet. Once you make a copy, the logic is unlocked so you can modify any and all formulas as needed as well as customize the spreadsheet to your needs.
I want to down load my bank statements and then assign transactions from there to COA. I have 4 bank accounts for the same business. How much is for the custom program to accommodate 4 different bank accounts? Can you interface AI or ML to learn and assign bank statements automatically in future? Or a create rules (QB like) to handle transactions automatically?
Hello! 4 bank accounts are definitely possible but will require some customization to accommodate. In terms of smart tagging / auto-assigning COA like QBO, it can be achieved to an extent using functions and conditional logic. I see your email just came through so I'll respond there with more details.
Yep! You can still use the professional template even if you are not tracking inventory. I also have a basic / starter version available that doesn't track inventory by default but also doesn't come with a balance sheet, trial balance or bank reconciliation. This may be better suited if you are looking for a simpler option: (learnwithpre.com/products/starter-bookkeeping-template).
Thanks for your quick reply. Unfortunately, I don't think this template will work for me as I charge based on the project which is time based and I don't see how this can be done easily in your template.@@learnwithpre
@@MrEe1010 Sort of like a time and materials / fixed fee approach? I can build something custom for you to accommodate this, email me at learnwithpre@gmail.com if you're still interested.
@@learnwithpre @MrEe1010 with a little ingenuity and a lot of RUclips you can modify to add the financial statements required. It is really not that hard.
Hi, I really like your U/I and all. Our business is like the org give us their check and we purchase their orders. We have some of the items in our inventory and some we will buy in other suppliers, also most of them are advancing orders which leads to credit. And they pay quarterly because they get their budget quarterly. Most of our customers are in credit with us. Also we have 3 bank accounts. 1 and 2 for receiving their check and 3 for depositing our income. I want to know your insights. Hope for your reply. Thank you!
I am trying to open a food trailer. Will this work for my accounting? I have multiple sales tax rates based on the location I am selling (State, CityLimits or Police Jurisdiction, County Unicorporated or Unabated, etc.). How will this handle that? Also, do you have a BOM as I will be using the raw inventory to make the items I sell. Also, I am more of a Excel man myself. Can I take and move the VBA and sheets to Excel once I purchase?
The easiest option would be to purchase advanced and only use the starter functionality within it so that when you're ready to move to advanced all of your data is in one place. But the other option if you'd like is to purchase starter and then when you're ready for advanced I'll just charge you the difference not the full price.
@@danielcordoba8444 not out of the box. Contact me at learnwithpre@gmail.com and I can build a custom project and P&L tracker into the accounting system you choose.
Great question! By default you can just update the beginning balance and update the "as of" date to the beginning of the fiscal year. Or you can copy to a new spreadsheet. I'm also happy to build something custom for you if you'd like if you email me at learnwithpre@gmail.com.
There's a field to input payment received (to draw down the AR balance automatically) and there's also a field to input payment made (to draw down the A/P balance automatically). This all automatically updates the ledger and corresponding financial statements :)
Advanced Template: learnwithpre.com/products/advanced-accounting-system
Starter Template: learnwithpre.com/products/starter-accounting-system
Custom Template: learnwithpre@gmail.com
Amazing template! Thank you for building this, this is exactly what I was looking for.
Thank you!
Nice system! Three questions. I have a service business, I don't have inventory. Will this present a problem with the different qty columns? Bank reconciliation, is the input manual or automated? If automated, how does that work. Would the starter template work better for a service based business? Thanks!
Thank you!
1. This won't present a problem if you have a service business, you can hide or ignore the qty columns if you are not tracking inventory.
2. Bank reconciliation: The Cash Ledger is auto-populated based on the transactions you enter in the spreadsheet. The actual bank statement from your bank would need to be manually entered or copied and pasted in.
3. The starter template is perfect for your business if you are not tracking inventory. But keep in mind, the starter template does not include the bank reconciliation functionality.
I also offer custom-built spreadsheets, you can email me at learnwithpre@gmail.com for more info!
Hope that helps!
@@learnwithpre wow, excellent info. I will certainty follow regarding the custom made spreadsheet. Thanks!
This is amazing. Do you do tutorials on how to builds these kind of templates?
I can certainly build a detailed tutorial for sure! If you're interested in a custom template email me at learnwithpre@gmail.com.
Is the $89 a forever license or rental? Is the logic unlocked so that it can be expanded and customized by the user?
It's a one time fee and then you completely own the spreadsheet. Once you make a copy, the logic is unlocked so you can modify any and all formulas as needed as well as customize the spreadsheet to your needs.
I want to down load my bank statements and then assign transactions from there to COA. I have 4 bank accounts for the same business. How much is for the custom program to accommodate 4 different bank accounts? Can you interface AI or ML to learn and assign bank statements automatically in future? Or a create rules (QB like) to handle transactions automatically?
Hello! 4 bank accounts are definitely possible but will require some customization to accommodate. In terms of smart tagging / auto-assigning COA like QBO, it can be achieved to an extent using functions and conditional logic. I see your email just came through so I'll respond there with more details.
Do you also teach students how to make these templates in excel and google sheets?
@@amanulhaq9130 I do! Email me at learnwithpre@gmail.com for more info
Could I use this template for rebates? I'm trying to figure out how to make an accounting system for rebates.
@@khatyure not out of the box but it can be configured in. Email me at learnwithpre@gmail.com so I can walk you through how!
does this work for service based businesses? I don't need inventory so not sure how that would affect things in the spreadsheet.
Yep! You can still use the professional template even if you are not tracking inventory.
I also have a basic / starter version available that doesn't track inventory by default but also doesn't come with a balance sheet, trial balance or bank reconciliation. This may be better suited if you are looking for a simpler option: (learnwithpre.com/products/starter-bookkeeping-template).
Thanks for your quick reply. Unfortunately, I don't think this template will work for me as I charge based on the project which is time based and I don't see how this can be done easily in your template.@@learnwithpre
@@MrEe1010 Sort of like a time and materials / fixed fee approach? I can build something custom for you to accommodate this, email me at learnwithpre@gmail.com if you're still interested.
@@learnwithpre @MrEe1010 with a little ingenuity and a lot of RUclips you can modify to add the financial statements required. It is really not that hard.
Hi, I really like your U/I and all. Our business is like the org give us their check and we purchase their orders. We have some of the items in our inventory and some we will buy in other suppliers, also most of them are advancing orders which leads to credit. And they pay quarterly because they get their budget quarterly. Most of our customers are in credit with us. Also we have 3 bank accounts. 1 and 2 for receiving their check and 3 for depositing our income. I want to know your insights. Hope for your reply. Thank you!
I emailed you with some specific functions. Hope for your reply! from the Philippines
I am trying to open a food trailer. Will this work for my accounting? I have multiple sales tax rates based on the location I am selling (State, CityLimits or Police Jurisdiction, County Unicorporated or Unabated, etc.). How will this handle that? Also, do you have a BOM as I will be using the raw inventory to make the items I sell. Also, I am more of a Excel man myself. Can I take and move the VBA and sheets to Excel once I purchase?
Certainly! I can customize a template for you to achieve this. Email me at learnwithpre@gmail.com to further scope out!
Is there an upgrade path from stater to the full accounting ststem?
The easiest option would be to purchase advanced and only use the starter functionality within it so that when you're ready to move to advanced all of your data is in one place.
But the other option if you'd like is to purchase starter and then when you're ready for advanced I'll just charge you the difference not the full price.
@@learnwithpre I have a construction contracting company. Does your system accommodate a P&L by project?
@@danielcordoba8444 not out of the box. Contact me at learnwithpre@gmail.com and I can build a custom project and P&L tracker into the accounting system you choose.
How do you " roll forward" from year to year? Just populate beg balance?
Great question! By default you can just update the beginning balance and update the "as of" date to the beginning of the fiscal year. Or you can copy to a new spreadsheet.
I'm also happy to build something custom for you if you'd like if you email me at learnwithpre@gmail.com.
What and where's the input when a customer wants to settle their account payables (our A/Rs)?
There's a field to input payment received (to draw down the AR balance automatically) and there's also a field to input payment made (to draw down the A/P balance automatically). This all automatically updates the ledger and corresponding financial statements :)
Would love to see if I can adapt it to nonprofit accounting.
You absolutely can. You can either modify the existing sheet / formulas yourself or I can do it for you if you email me at learnwithpre@gmail.com.
How if many bank account
I can build that custom for you, email me at learnwithpre@gmail.com