Excel tips: Creating financial statements series
- Part 1 – Creating an extended trial balance
- Part 2 – How to avoid errors when using the sort functions
- Part 3 – Using basic functionality when creating financial statements
Working with spreadsheets can make accounting tasks much more efficient and reliable once we have learnt to use the required functionality. However, in order to achieve that we have to combine accounting knowledge with spreadsheet skills and for many of us, bringing both areas together is a real challenge. In this article we’re going to work through how to use basic Excel functions when creating an extended trial balance (ETB). It is easy to focus our attention on Excel’s advanced functions and formulas and underestimate the value of having a good working knowledge of the basics. Download the raw trial balance (TB) for GM Consultancy, which has been exported at year end from accounting software. In the first tab we can see that the TB balances and there is no suspense account to clear. In the second tab we find some year-end adjustments that need incorporating. Therefore, we can start by formatting three more pairs of columns for the adjustments, Statement of Profit or Loss (SoPL) and Statement of Financial Position (SoFP). We can use the copy and paste functions to replicate the debit and credit headings already present. Note that once we have copied cells B5 and C5 they are highlighted with a dashed green border,







- Type = in D26
- Click into the Year-end adjustments tab and select B1
- Press your Enter button to return (Do not try to manually return to the TB tab and remember the Esc button if you need to start again!)
- Type = in E7
- Click on D26 and press Enter







Gill Myers is a self-employed accounts consultant. She has taught AAT qualifications since 2005 and written numerous articles and e-learning resources.