==================================== README FOR SIMPLE EXCEL CASH JOURNAL ==================================== =============== Getting Started =============== 1. Open the example file "CheckRegister_MonthYear.xls". 2. Save the example as "CheckRegister_October2006.xls", or whatever month you wish to begin with. 3. Delete all the data in columns A ~ I of the newly saved file. 4. Enter the previous month-ending "Returned" and "Balance" carry-forward amounts on Row 4. 5. Save the file. ==================== Posting Transactions ==================== 1. Post expenditures (checks and bank card transactions) and receipts (deposits) as they occur. Develop the habit of doing this daily; for example, immediately upon returning from shopping trips. Otherwise, it'll soon become painfully evident that PROCRASTINATION DOES NOT PAY. (Hint: to help make this convenient, create a shortcut to the current file on your desktop. You'll need to update the shortcut's properties every month to reflect the new filename.) 2. Post these amounts as shown with double entries, each item in the "Amount" columns having an offsetting amount in the "Unreturned" column. 3. As you work with this file, watch the "Imbalance at Last Entry" value. It should always be "0.00". If not, find out why and correct the error immediately. (Hint: Excel isn't very good at updating the running balance formula in Column J as you add or delete rows. Therefore, occasionally copy cell J5 to the clipboard, then paste it over all the other cells in the Column J, up to the cell immediately preceding the "Returned Items" row.) ==================== Periodic Maintenance ==================== Assuming that you have access to your account through online banking, log in periodically and justify your register with the bank's record of your account. How frequently you need to do this depends upon your activity. If you do several transactions every day, you will probably find it easiest to take a few moments to justify your record every two or three days. 1. After logging on to your online banking account, delete all the items in the "Unreturned" column which appear on the bank's record. 2. If you forgot to post something and you need to add an item to match the bank's record, highlight the row number where you wish to insert the item, right-click and select "Insert". The new row will be inserted at that point, with everything else shifted down one row. (Hint: Excel will not update the running balance formula in Column J when you insert rows in this manner. Therefore, copy cell J5 to the clipboard, then paste it over all the other cells in the Column J, up to the cell immediately preceding the "Returned Items" row.) 3. Update the amount in the "Bank's Online Balance" cell with the amount currently shown on the bank's record. 4. The "Imbalance at Last Entry" value should return to "0.00". If not, find out why and correct the error immediately. 5. For items returned from previous months, see below. 6. Change the text color of all the returned items to blue, indicating that these items have been successfully justified. 7. Save and close the file. ====================================== Handling Last Month's Unreturned Items ====================================== If any unreturned items were carried forward, the bank's record will ultimately show these items as having finally been processed. To handle this situation and keep your record in balance, do this: 1. Open the previous month's record, and delete all the items in the "Unreturned" column which appear on the bank's record. 2. Reduce the amount shown in "Bank's Online Balance" by the sum of the items deleted above. (Hint: Change the value in that cell to a formula showing the original amount, minus the returned items. This can be helpful if you need to backtrack later. For example, change the original value "1256" to "=1256-(9.52+54.26+134.15+12.96)", rather than just entering the new value "1046.11".) 3. The "Imbalance at Last Entry" value in this file should then return to "0.00". If not, find out why and correct the error immediately. 4. Change the text color of all the returned items to red, indicating that these items have finally been successfully justified. 5. Enter the new month-ending "Returned" and "Balance" carry-forward amounts on Row 4 of the current month's record. 6. Save and close the previous month's record. ========================= Month-Ending Maintenance ========================= 1. Close this file out at the end of the month, adding the bank's service charge, if there is one, then save the file. 2. Save a second copy of the file, named for the next month (e.g., "CheckRegister_November2006.xls") 3. Delete all the data in columns A ~ I of "CheckRegister_November2006.xls". 4. Enter the previous month-ending "Returned" and "Balance" carry-forward amounts on Row 4. 5. Save this newly created file. 6. Update the "Properties" of your desktop icon with the filename of this newly created file. -----