First Accounting Cycle, 1 -- Classifying Accounting Data Using Excel
This is part one of a two-part module. My goal was to develop a small general ledger system that would allow students to use Excel to journalize and post elementary accounting transactions--without resorting to the use of programming techniques. The teaching moment for these modules is in chapter 1 of any beginning accounting text--in which students use a transaction table, with accounts across the top, and focus on the increases and decreases of individual accounts.
This module, Part 1, focuses on the data entry aspect of solving a transaction table problem. Two sheets are used: In Sheet1, a Chart of Accounts is set up, consisting of account number, account name and account type. Sheet2 is the Journal, in which the increases and decreases are entered, in date order.