Excel Tutorial - FIFO Accounting Part 2 (First In First Out)

This is the second tutorial out of 3 tutorials on how to use Excel for FIFO Accounting. Please note that this video cannot be used for Accounting or Tax advice - it is simply an Excel tutorial. In this video you will learn how to use the minimum function to automate the process to figure out how many units have been sold in each row.

[@hometownhooligan6100]

Big thank you for the clear explanation, sir. I'm an accountant and I was embarrassed to be struggling to devise an easy way to track cost basis of my crypto investments in Excel. This lead me down the right path. Thanks again!

[@sinandursun6133]

You say that is not professional. Yes it is. But you show us the logic of this FİFO. So I can use this method on my Portfolio Table. I am very glad for that.

[@golferiam6533]

Thank you. You provided a perfect solution to a problem I have had for a couple of years. I could not adequately track my crypto trades with FIFO applied on any SS I could find on UA-cam or the internet. I took you "pens" demo and adapted it to the crypto world and it seems to fit very well. We'll see if Big Brother (IRS) will accept the calculations. Again, thank you.

[@claudiofduque]

Thanks for such a clear explanation Magic Monk! Much appreciate it
I would love to see how earnings per sale may be displayed so easily as what you have tought so far!

[@avdel9014]

Hold on... You didn't calculate the individual profit of each sale you had at the start, which is what you need to report. How would you automate the splitting of a sale between the two (or more) respective purchases? I'm not sure it can be done without VB, as it involves creating new lines. Or you do it manually like you did in the beginning, maybe with the aid of some cross-check columns.

[@seancaseo84]

Ya, only piece missing, fuck

[@therealcoolc]

This was a great video. It took a bit of work for me unraveling two years of activity in the cryptocurrency market, but your layout made it a breeze.

[@NJPANCHAL62]

Good learning with clear explanation. Like to see the calculation of the profit against each sell transaction and anual % return against each sell transaction. Also love to see the weighted average purchase price and value of the closing stock with current sell cost.

[@magicmonk]

that's a good idea, thanks buddy

[@airline8842]

Many Thanks! It is exactly what I was looking for.

[@daudionsarigo8733]

You saved my Career,thank you so much

[@Legio1122]

🤣🤣🤣

[@HoaPham-xe3vv]

Deep thanks for your detail explaination

[@andrewjackman8926]

Is there a way to itemize the cost to see each individual profit margin? Or is it only as a whole?

[@daliaspudulyte2317]

Thank you sooo much! It helped me a lot!

[@abdulhameed-rd2bg]

Thanks u increase my skill on top

[@sreesaicreations8033]

Thank you sir. I got my answer

[@abdulhameed-rd2bg]

sir, make vedio if there are many items it will be greatfull to you, thanks

[@samkab677]

How to deal with purchase return if any?...what formula to use or adjust here? Please help..

[@shrujayshah3834]

Thank you sir

[@subhashsansarwal3914]

How can you calculate the individual selling batch costs? For example, you sold 89 Pens on 20 March & if you would like to calculate the cost of selling these 89 pens how do I do that?

[@aasavshah2369]

Insted of using total unit...try to use Cumilative total quantity sold column in next column (L column in this video) by putting =sum($K$6:k7) then you can also drag it down

[@Thehelper123456]

nice

[@sabujbanglagroup1883]

You are not good presenter