Reconciling An Account Worksheet: Fill & Download for Free

Use quickbooks and reconcile that bank account every month.

As an accountant I have been asked this question numerous times, so I didn’t just write this material for you. Hope you find your answer herein…..Federal law requires you to maintain copies of your tax returns and supporting documents for three years. This is called the "three-year law" and leads many people to believe they're safe provided they retain their documents for this period of time.However, if the IRS believes you have significantly underreported your income (by 25 percent or more), or believes there may be indication of fraud, it may go back six years in an audit. To be safe, use the following guidelines.Business Documents To Keep For One Year•Correspondence with Customers and Vendors•Duplicate Deposit Slips•Purchase Orders (other than Purchasing Department copy)•Receiving Sheets•Requisitions•Stenographer's Notebooks•Stockroom Withdrawal FormsBusiness Documents To Keep For Three Years•Employee Personnel Records (after termination)•Employment Applications•Expired Insurance Policies•General Correspondence•Internal Audit Reports•Internal Reports•Petty Cash Vouchers•Physical Inventory Tags•Savings Bond Registration Records of Employees•Time Cards For Hourly EmployeesBusiness Documents To Keep For Six Years•Accident Reports, Claims•Accounts Payable Ledgers and Schedules•Accounts Receivable Ledgers and Schedules•Bank Statements and Reconciliations•Cancelled Checks•Cancelled Stock and Bond Certificates•Employment Tax Records•Expense Analysis and Expense Distribution Schedules•Expired Contracts, Leases•Expired Option Records•Inventories of Products, Materials, Supplies•Invoices to Customers•Notes Receivable Ledgers, Schedules•Payroll Records and Summaries, including payment to pensioners•Plant Cost Ledgers•Purchasing Department Copies of Purchase Orders•Sales Records•Subsidiary Ledgers•Time Books•Travel and Entertainment Records•Vouchers for Payments to Vendors, Employees, etc.•Voucher Register, SchedulesBusiness Records To Keep ForeverWhile federal guidelines do not require you to keep tax records "forever," in many cases there will be other reasons you'll want to retain these documents indefinitely.•Audit Reports from CPAs/Accountants•Cancelled Checks for Important Payments (especially tax payments)•Cash Books, Charts of Accounts•Contracts, Leases Currently in Effect•Corporate Documents (incorporation, charter, by-laws, etc.)•Documents substantiating fixed asset additions•Deeds•Depreciation Schedules•Financial Statements (Year End)•General and Private Ledgers, Year End Trial Balances•Insurance Records, Current Accident Reports, Claims, Policies•Investment Trade Confirmations•IRS Revenue Agents. Reports•Journals•Legal Records, Correspondence and Other Important Matters•Minutes Books of Directors and Stockholders•Mortgages, Bills of Sale•Property Appraisals by Outside Appraisers•Property Records•Retirement and Pension Records•Tax Returns and Worksheets•Trademark and Patent RegistrationsPersonal Documents To Keep For One Year•While it's important to keep year-end mutual fund and IRA contribution statements forever, you don't have to save monthly and quarterly statements once the year-end statement has arrived.Personal Documents To Keep For Three Years•Credit Card Statements•Medical Bills (in case of insurance disputes)•Utility Records•Expired Insurance PoliciesPersonal Documents To Keep For Six Years•Supporting Documents For Tax Returns•Accident Reports and Claims•Medical Bills (if tax-related)•Sales Receipts•Wage Garnishments•Other Tax-Related BillsPersonal Records To Keep Forever•IRS Audit Reports•Legal Records•Important Correspondence•Income Tax Returns•Income Tax Payment Checks•Property Records / Improvement Receipts (or six years after property sold)•Investment Trade Confirmations•Retirement and Pension RecordsSpecial Circumstances•Car Records (keep until the car is sold)•Credit Card Receipts (keep until verified on your statement)•Insurance Policies (keep for the life of the policy)•Mortgages / Deeds / Leases (keep 6 years beyond the agreement)•Pay Stubs (keep until reconciled with your W-2)•Sales Receipts (keep for life of the warranty)•Stock and Bond Records (keep for 6 years beyond selling)•Warranties and Instructions (keep for the life of the product)•Other Bills (keep until payment is verified on the next bill)•Depreciation Schedules and Other Capital Asset Records (keep for 3 years after the tax life of the asset)

Spreadsheets are commonly used to perform detailed technical calculations, manage budgets, analyze business performance, document transactions and communicate results to management. Routine tasks include comparing lists, summing up results by account, consolidating data, splitting corporate data into departmental level worksheets, makeing a database, and projecting future performance. All of these tasks can be automated.Any repetitive task is a candidate for automation. If you are good at VBA, anything that you do more than a few times a year can be profitably automated. And if your code can be applied across multiple departments, then you can even get good payback for automating things like the annual departmental budget.If you can dream it, chances are that somebody has automated it somewhere. Examples of projects I have worked on that generated significant value to the users include:Simulate air conditioning system at a mall on busiest shopping day of yearReconcile foreign exchange trading transactions for major brokerMake market-triggered buy/sell decisions for automated day tradingAssemble datasheet package for customized pharmaceutical systemManage weekly updates for technical issues on multi-year multi-million dollar projectGrab lab results from web site and prepare a report showing patient's medical historyEmail budget worksheets to each department, then assemble their responses into annual budget for entire companyReconcile two databases at tax assessors office, flagging any inconsistenciesProduce an online catalog for a used book sellerManage the appointment schedule for a cabinet-level government officialProduce a cutlist for a cabinetmakerDetermine whether a fire station can be closed (budget savings) or must be kept open (response time metrics)Personal budget planning over a 20 year periodTest sports betting strategies against historical dataPurchase order form that pulls vendor info from database and populates accounting codes for each line itemVBA is the programming language with the widest distribution in the world. Every copy of Microsoft Office includes it, so that means 1.2 billion potential users. All the tools that you need to create VBA code are included. You don't need to get permission from anybody to take a stab at solving a problem important to your job. And you can start writing code by using the macro recorder to write the program for you while you manually step through a process. If you dare to try, you will be on an upward career path. And as you get good at it, you will definitely gain management recognition for your accomplishments.