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Summary

This chapter has demonstrated how you can use Excel to create an account structure in a workbook that contains both a General Journal and special journals, and in a workbook that contains both a General Ledger and subsidiary ledgers. As they occur, transactions are entered in the journals in chronological order. The transactions are then posted to the appropriate accounts in the ledger workbook. This accounts for the bulk of the work involved in creating both the Assets and the Liabilities sections of a Balance Sheet.

You have also learned some VBA techniques for automating the process of posting from journals to their associated ledger accounts, and how to use Excel's pivot table facility to determine the current outstanding balance of an account, whether receivable or payable.


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