Tax & Adjusting Entry Year-End Accounting Excel Worksheet

Build Excel worksheet for adjusting adjusting & tax entries, reconciling net income calculated on a book and tax basis

4.50 (399 reviews)

Udemy

platform

English

language

Microsoft

Why take this course?

🧠 Mastering Tax & Adjusting Entries with Excel 📊

Course Title:

Tax & Adjusting Entry Year-End Accounting with Excel Worksheet

Headline:

🌟 Build a Robust Excel Worksheet for Adjusting Adjustments & Tax Entries, and Reconcile Net Income on a Book vs. Tax Basis! 🌟

Course Description:

Introduction to the Course: Embark on a journey to enhance your accounting prowess with our comprehensive online course, specifically designed for tax preparers and public accountants. This course extends its benefits to anyone looking to master accounting principles and Excel skills that transcend beyond the realm of tax preparation.

Course Benefits:
- Learn efficient methods for entering adjusting entries in Excel.
- Master building an adjusted trial balance and a trial balance on a tax basis.
- Gain proficiency in reconciling net income between book and tax perspectives.
Visualization & Communication: An Excel worksheet not only simplifies complex data but also serves as a powerful visual tool to communicate financial statements clearly to supervisors, clients, or for future reference.

Hands-On Learning: Our course provides a step-by-step guide to building an Excel worksheet from the ground up. With real-world examples and templates, you'll learn practical skills that are applicable both within and beyond accounting.

Step-by-Step Construction:
- We'll start with a blank Excel sheet and build tools for each step, with most steps including an updated worksheet to guide you.
- The worksheet will have at least two tabs: one for the completed step and another for incremental progress.
Practical Application: As we navigate through the course, you'll practice entering adjusting and tax entries into your Excel worksheet, gaining a deeper understanding of its structure and functionality.

Reconciliation & Comparison: Learn how to calculate net income on both a book basis and a tax basis, and see firsthand how the worksheet reconciles these two critical measures.

Tax Considerations: While this course is focused on creating a tool for tracking adjustments, it's important to note that it does not provide tax advice—it's about understanding the system and the documentation required.

Format Exploration: We'll explore various formats used in practice for building an adjusting entry and tax entry worksheet, discussing their advantages and limitations.

Prior Year Worksheet Update: We'll also cover how to update a previous year's worksheet to accommodate the current year's trial balance and data.

Essential Learning Tools: The course is complemented with downloadable practice files for QuickBooks Pro Desktop 2019 and Excel, ensuring you have all the resources needed to succeed.

What You'll Learn & Gain:

How to construct a comprehensive Excel worksheet tailored for adjusting entries and tax work.
The ability to enter, track, and manage financial data efficiently.
Insight into reconciling financial statements for both book and tax purposes.
Practical experience with real-world applications of the concepts taught.
A set of downloadable resources to support your learning journey.

Course Highlights:

✅ Construct an Excel worksheet from scratch. ✅ Learn to enter adjusting and tax entries effectively. ✅ Understand the reconciliation of net income on book and tax bases. ✅ Master a tool that will serve as a reference for years to come. ✅ Gain valuable skills applicable in various accounting scenarios.