In manual book keeping financial statements prepared after trial balance have been available. Trial balance contain ending balance of each account that get from General Ledger. Similar to the manual book keeping, here we can prepared financial statements only if Summary of General Ledger have been set. Note that ending balance of each accounts are available on Summary of General Ledger. There are three financial statements that will be prepared as follows:
Income Statement
Capital Statement
Balance Sheet
A. Income Statement
All amount of each revenue accounts and expense account are taken from last two columns of Summary of General Ledger (sheet “gls”). This last two columns are ending balance of each accounts.
The formula applied to get amount of each account is similar to this:
=$gls.I23
The formula is an example that aimed to get ending balance of account “Revenue” that located in cell I23 (represented by “I23” on the formula) in sheet gls (represented by “$gls).
B. Capital Statement
All amount of each items but “Net Income” item are taken from sheet gls. Net income amount is taken from sheet “is” by applying formula:
=$is.G26
The three other are taken from sheet “gls” by applying formula:
=$gls.E21, for beginning balance
=$gls.G21, for paid in capital
=$gls.H22, for withdrawal
C. Balance Sheet
Similar to those in Income Statement almost all of the amount of each items in Balance Sheet are taken from the last two columns in Summary of General Ledger (sheet gls). Only one items, Capital, that the amount is not taken from sheet gls but from sheet cs (Capital Statement) instead. We also apply the same formula to those applied in Income Statement and Capital Statement.
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