Accounting Worksheet Preparation, Format and Example

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Accounting worksheet is a very useful tool prepared by bookkeepers and accountants in orderly way to summarize the data for financial statement. It is the concluding step of accounting cycle. This Worksheet is comprised on year end reports like unadjusted trial balance then adjusting entries then adjusted trial balance and financial statements.

Accounting Worksheet Format

Basically this worksheet format is a tracking spreadsheet of accounting cycle steps. It is a six column worksheet, each column having debit and credit columns with a total calculating amount at the end.

Sample Accounting Worksheet Format

Preparation

When accounting management of a business unit intends to prepare worksheet for accounting adjustments instead posting the said adjustments in the concerned ledger accounts, the said worksheet is developed by adopting the following procedure:

  1. Accounting Worksheet columns include i. account name, ii. trial balance, iii. adjustments and iv) final or adjusted trial balance
  2. Except for account name column, all other columns are further divided into two sub-columns for debit and credit.
  3. Balances are taken from original trial balance which is actually an unadjusted trial balance and written in the trial balance column of the work sheet;
  4. Adjusted journal entries are recorded in the ‘adjustments’ column of work sheet and relevant accounts are debited and credited accordingly based on information provided in the adjustments
  5. New balances are calculated after inserting adjustments and are written in the last column of the worksheet named ‘adjusted trial balance’. In this way, we get adjusted trial balance which is ready to be used for preparation of final accounts;
  6. Both the debit and credit columns of this adjusted trial balance to confirm the arithmetic accuracy of both adjustments and calculations made.

Example

Following is the sample accounting worksheet of M/s A Traders as on 31st December.

M/s A Traders
Accounting Worksheet
31 December
             
ITEMS TRIAL BALANCE
(UN-ADJUSTED)
ADJUSTMENTS TRIAL BALANCE
(ADJUSTED)
  Dr. Cr. Dr. Cr. Dr. Cr.
Cash in hand
4,500
4,500
Cash at bank
3,700
3,700
Accounts receivables
2,500
2,500
Prepaid rent
1,500
1,500
Furniture
2,700
2,700
Machinery
4,000
4,000
Land
5,000
5,000
Fee receivable 
100
100
Supplies expenses
2,600
 
 
200
2400
Supplies inventory
200
200
Advertisement expenses
1,200
1200
Salaries expenses
500
 
400
 
900
 
Depreciation
150
150
Bad debts expenses
50
50
Account payable
1,000
1,000
Notes payable
2,000
2,000
Accumulated depreciation
500
150
650
Allowances for bad debts
100
50
150
Bank borrowings
2,000
 
2,000
Capital
18,000
 
18,000
Revenue
3,800
100
3900
Commission received
800
500
 
300
Un-earned commission
500
500
Salaries payable
400
400
 
 
 
 
 
 
 
Total
28,200
28,200
1,400
1,400
28,900
28,900

For your convenience you can also prepare 10 column worksheet by adding income statement and balance sheet column. Here bookkeeps and student can freely download accounting worksheet template in excel.