Esme Louise April 19, 2021 Spreadsheet
Preparing such a bookkeeping spreadsheet might and often does suffice the needs of the smallest business enterprise and is a close step towards achieving a valuable tool for this purpose, bookkeeping software. Bookkeeping software can be as simple as a home produced spreadsheet but with additional facets that can have significant financial benefits to the business. Bookkeeping software produced on spreadsheets would normally be a series of spreadsheets with the columns preset and titled and formulae written into the sheet to automatically add up each column. In addition the columns used would normally be restricted to general headings to include a full analysis of all items.
Panko (2000) suggests that “Given data from recent field audits, most large spreadsheets probably contain significant errors.” The most recent audit he cites found errors in at least 86% of spreadsheets audited. In 1997 Panko reported that 90% of the spreadsheets audited in a study carried out by Coopers and Lybrand were found to have errors. In ‘Automatic Generation and Maintenance of Correct Spreadsheets?‘ Erwig et al (2006) cite a figure of 90% from Rajalingham et al (2001) ‘Classification of Spreadsheet Errors‘. ‘Given the billions of spreadsheets in use, this leaves the worlds of business and finance horribly vulnerable to programming mistakes‘ (Scanlan et al, 2006). The studies by Paine, and Panko show that the chances of any given spreadsheet cell containing an error are somewhere between 0.3 and 3%, so that a spreadsheet of only 100 cells has about a 30% chance of having one error or more. Aragones et al (2006) state – ‘Desktop spreadsheet users are very creative in their adaptations, but distributed spreadsheets have the problem of distributed, inconsistent inputs and distributed results.
Instead of listing the items on a paper list the items can be just as easily listed on a spreadsheet which will add up the items as required without the requirement to double check the adding up is accurate. Such a list has a history in accounting term as a sales day book and a purchase day book. To achieve the required analysis of sales and purchases all that is required is to write into the top of each of the spreadsheet columns the titles of the analysis headings required. Then repeat the value of each transaction in the total column into the analysis columns. Use the spreadsheet technology to add up each column and you have an effective bookkeeping spreadsheet.
Hence the use of bookkeeping spreadsheets to prepare the accounting information required.
”Spreadsheets for Actors” comprises a wide variety of programmed spreadsheets especially created for professionals in the entertainment industry. Whether you are an actor, producer, editor or director, you will greatly benefit from the ”Spreadsheets for Actors” package. The ”Spreadsheets for Actors” package facilitates a series of processes, ranging from creating and managing budgets to keeping track of unpredictable income and expenses. The mentioned package includes valuable programmed spreadsheets such as the ”Income and Residual Tracker” – provides professionals in the entertainment branch with detailed information regular and residual income; ”The Biorhythm Plotter” – helps users in planning various events and actions based on Primary and Secondary Biorhythms (the spreadsheet solution allows users to choose the right timing for their actions according to personal intellectual, psychological and physiological factors); ”Basic Actor Package” – designed to facilitate the process of calculating expenses.
Processing the financial documents related to a business enterprise basically means they need to be listed. For taxation and financial control purposes the invoices also need to be added up and analyzed. The most basic method would be to simply make a list of the sales income and a second list of the purchase expenses. Using a manual method of listing the information falls short of the analysis required and is more time consuming that using a little technology to both ensure the summation is accurate and the analysis simplified. Listing the sales and expenses of a small business on spreadsheets is no more difficult then a manual paper system and has tremendous advantages in automating and ensuring accuracy.