Prefer two separate tables for income and expenditure, specially when following double entry principle system of accounting with different fund heads such as 'Cash in Hand' , 'Cash at Bank', 'Fixed Deposit', Sundry Debtors, Sundry Creditors, Medical Assistance Fund etc. Used two separate tables for income and expenditure, while preparing database for keeping accounts of my Residents' Association which is presently under testing. Learned a lot from your fast tips videos and earnestly feel entire credit goes to you.
I still use a single table even for double-entry accounting. You'll just have two records entered: one for the credit account and one for the debit account. No need for two tables. But if it's working for you, then it's working for you. :)
What system would u recommend for tracking grant and contract expenditures? I currently use Excel. I’m not the fiscal agent n I don’t have Quickbooks but I still need to track expenses. Thank u!
Was wondering if you have a how to build a database used for tracking all of charge offs? I am a leaguge director and I am trying to build a database for when my players don't pay their league dues so I can write the off at the end of the year. Can you help? TIA
Sounds to me like a charge off would just be a yes/no field in your order table to indicate that that order had been charged off. I do the same thing with returns.
For transaction type I would try to incorporate asset, assetreceivable, (=sum) payable, equity, income, minusexpense categories fill in pairs easy in excel. prob more elegant in access needs a rethink..
Prefer two separate tables for income and expenditure, specially when following double entry principle system of accounting with different fund heads such as 'Cash in Hand' , 'Cash at Bank', 'Fixed Deposit', Sundry Debtors, Sundry Creditors, Medical Assistance Fund etc. Used two separate tables for income and expenditure, while preparing database for keeping accounts of my Residents' Association which is presently under testing. Learned a lot from your fast tips videos and earnestly feel entire credit goes to you.
I still use a single table even for double-entry accounting. You'll just have two records entered: one for the credit account and one for the debit account. No need for two tables. But if it's working for you, then it's working for you. :)
What system would u recommend for tracking grant and contract expenditures? I currently use Excel. I’m not the fiscal agent n I don’t have Quickbooks but I still need to track expenses. Thank u!
Shouldn't be too hard to build a simple database in Access for that.
Hello Ms Richard.
This video is a nice one.
But how I wish it covers installment payment.
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Perfect: Thanks...!
Welcome
@@599CD Alway Welcome to you
Was wondering if you have a how to build a database used for tracking all of charge offs? I am a leaguge director and I am trying to build a database for when my players don't pay their league dues so I can write the off at the end of the year. Can you help? TIA
Sounds to me like a charge off would just be a yes/no field in your order table to indicate that that order had been charged off. I do the same thing with returns.
For transaction type I would try to incorporate asset, assetreceivable, (=sum) payable, equity, income, minusexpense categories fill in pairs easy in excel. prob more elegant in access needs a rethink..
Oh sure... I scaled this WAY down for the example video. I would definitely add an AccountID for your different account types.
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Thanks