About This Course

This course is most beneficial to tax preparers and public accountants who enter adjusting entries but is also useful to anybody in accounting. Similar Excel worksheets to the ones we will construct can be useful for analyzing many areas of accounting, and the Excel skills learned in creating them are also very applicable both inside accounting and outside of it.

We will discuss the reasons for creating an adjusting and tax entries Excel worksheet. Some benefits of the Excel worksheet include the ability to enter adjusting entries in an efficient way and build an adjusted trial balance, the ability to enter tax entries efficiently and build a trial balance on a tax basis, and the ability to reconcile book net income and tax net income.

An Excel worksheet can be used to show the difference between net income on the unadjusted trial balance, the adjusted trial balance, and tax trial balance in an easy visual way. A worksheet can be used as a reference to communicate to supervisors, clients, and as a reference for us to look back at in the future.

The course will build an Excel worksheet from scratch providing tools to help with the construction for each step along the way. We will provide an updated Excel worksheet for most steps, allowing us to jump forward or to rework any part of the course without starting over. The Excel worksheets will generally have at least two tabs, one with the completed step, showing the end product, and one that has been completed up to the current step in the process, allowing us to fill it in with the help of the instructional video and the Excel tab showing the completed work.

We will then practice entering some adjusting entries and tax entries into the worksheet. As we add adjusting and tax entries to the Excel worksheet, we will better understand how the worksheet is formatted and how best to use it. We will see how net income is calculated on a book basis, on a tax basis, and how the worksheet will show the reconciliation of the two.

This course is not designed to give tax advice but to show how to construct an Excel worksheet to track adjustments. The course will also discuss some alternative formats for building an adjusting entry and tax entry worksheet that can be found in practice. We will discuss the pros and cons of the different formats.

We will also discuss how to format an adjusting and tax entry worksheet made in the prior year so that we can enter the current year trial balance and data into it.

Who this course is for:

  • Tax professionals who want to reconcile book net income and tax net income
  • Public accountants who work with adjusting entries
  • Any accountant who wants to learn how to set up a practical worksheet to work through accounting transactions
  • Any accountant who wants practical practice formatting Excel Worksheets

Our Promise to You

By the end of this course, you will have learned income tax accounting entries using Excel.

30 Day Money Back Guarantee. If you are unsatisfied for any reason, simply contact us and we’ll give you a full refund. No questions asked.

Get started today and learn more about the Income Tax business worksheet using Excel.

Course Curriculum

Section 1 - Introduction
Tax And Adjusting Entry Year-End Accounting Excel Worksheet 00:00:00
Downloadable Materials – Income Tax Business Worksheet Using Excel 00:00:00
Section 2 - Why Use An Adjusting Entry And Tax Entry Worksheet
Why Use An Adjusting Entry And Tax Entry Worksheet 00:00:00
Why Use Adjusting And Tax Entries Worksheet In Excel 00:00:00
Excel Adjusting And Tax Worksheet Format 00:00:00
Section 3 - Create Adjusting Entry And Tax Entry Worksheet In Excel
Create Adjusting Entry And Tax Entry Worksheet In Excel 00:00:00
Trial Balance Generate Report QuickBooks Export To Excel 00:00:00
Make Trial Balance From Balance Sheet And Income Statement Excel 00:00:00
Format Exported Excel Workbook 00:00:00
Format Debits And Credits To One Column 00:00:00
Conditional Formatting To Check If In Balance 00:00:00
Calculate Net Income On Trial Balance Excel 00:00:00
Format Header of Unadjusted Trial Balance Excel 00:00:00
Add Grid Lines Or Borders To Trial Balance Excel 00:00:00
Add Adjusting Trial Balance Column Excel 00:00:00
Add Tax Trial Balance Column Excel 00:00:00
Add Journal Entry Columns Excel 00:00:00
Section 4 - Adjusting Entry For Accounting Error
Adjusting Entry For Accounting Error 00:00:00
Adjusting Entry Correct Error Excel 00:00:00
Section 5 - Tax Entry For Nondeductible Expenses
Tax Entries For Nondeductible Expenses 00:00:00
Tax Entry Meals And Entertainment Excel 00:00:00
Tax Entry Charity, Penalties, And Political Contributions Excel 00:00:00
Section 6 - Adjusting And Tax Entries For Insurance
Adjusting And Tax Entries For Insurance 00:00:00
Adjusting Entry Prepaid Insurance Excel 00:00:00
Tax Entry Prepaid Insurance Excel 00:00:00
Section 7 - Adjusting And Tax Entries For Depreciation
Adjusting And Tax Entries For Depreciation 00:00:00
Adjusting Entry Depreciation Excel 00:00:00
Tax Entry Depreciation Excel 00:00:00
Section 8 - Add Columns To Adjusting And Tax Entry Worksheet
Add Columns To Adjusting And Tax Entry Worksheet 00:00:00
Add Columns To Worksheet Excel 00:00:00
Section 9 - Enter Adjusting And Tax Entries For Sale Of Fixed Asset
Enter Adjusting And Tax Entries For Sale Of Fixed Asset 00:00:00
Adjusting Entry Sale Of Fixed Asset Excel 00:00:00
Tax Entry Sale Of Fixed Asset Excel 00:00:00
Section 10 - Tax Entry For Tax Exempt Interest Income
Tax Entry For Tax Exempt Interest Income 00:00:00
Tax Entry Tax Exempt Interest Excel 00:00:00
Section 11 - Adjusting And Tax Entry For Personal Expenses
Adjusting And Tax Entry For Personal Expenses 00:00:00
Adjusting Entry Personal Expense Excel 00:00:00
Tax Entry Adjust Meals And Entertainment Excel 00:00:00
Section 12 - Alternative Format Of Adjusting And Tax Worksheet
Alternative Format Of Adjusting And Tax Worksheet 00:00:00
Alternative Worksheet With Debit And Credit Columns Excel 00:00:00
Section 13 - Manually Enter A Trial Balance Into An Existing Excel Worksheet
Manually Enter A Trial Balance Into An Existing Excel Worksheet 00:00:00
Enter Trial Balance Into Existing Excel Worksheet 00:00:00
Section 14 - Adjusting Entry For Equity Section
Adjusting Entry For Equity Section 00:00:00
Retained Earning Or Equity Adjusting Entry Excel Worksheet 00:00:00
Section 15 - Discuss Options For Entering Adjusting Entries To Accounting Software
Discuss Options For Entering Adjusting Entries To Accounting Software 00:00:00
Options For Entering Adjusting Entries To QuickBooks 00:00:00
Section 16 - Enter Adjusting Entries In Accounting Software
Enter Adjusting Entries In Accounting Software 00:00:00
Enter Adjusting Entries From Excel Worksheet To QuickBooks 00:00:00
Compare Trail Balance In QuickBooks To Adjusted Trial Balance In Excel 00:00:00
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