Journal%20of%20Accountancy%20VLOOKUP%20Article

Journal%20of%20Accountancy%20VLOOKUP%20Article - TECHNOLOGY...

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TECHNOLOGY WORKSHOP Even a CPA with little computer training can build one. A Do-It-Yourself Automated Invoicing System BY JACOB M. ROSE Key to Instructions To help readers follow the instructions in this article, we use two different typefaces. Boldface type is used to identify the names of icons, agendas and URLs. Sans serif type indicates commands and instructions that users should type into the computer and the names of files. ou don’t have to be a technology wizard to help your company or client take a major first step into the advanced computer age. For example, in less than an hour even a low-tech CPA can create an automated invoice and billing system to replace the slow and error- prone paper-based methods many of their small business clients use. Not only can such a system practically eliminate mistakes and speed bookkeeping and accounting tasks, but it also takes less than an hour of training to teach staff how to use it. Follow along with me and I’ll show you how to set one up; all you need is a computer loaded with Excel and some rudimentary knowledge of that application. EASY TO BUILD To illustrate how it can be done, I’ve designed an Excel spreadsheet for a small garden shop that will generate invoices and perform routine accounting tasks. Let’s begin by creating two Excel worksheets. Name one Customers and add data to columns with headings such as customer names, addresses, phone and fax numbers and any special selling terms offered them. It should resemble the format of exhibit 1 , below. If you wish, you can download an operational copy of the finished Excel file from www.aicpa.org/download/pubs/jofa/2004_04_rose- example.xls .
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Exhibit 1 No w assign a number to each customer and sort the worksheet by those numbers. To perform a Sort , highlight everything except the column headings and then click on Data, Sort . Name the other worksheet Products. It will store your product information: item number (or code), description and unit price. It should resemble exhibit 2 . Sort that list by item number, too. Next we’ll create a basic invoice form, again in the same Excel file, that will eventually link to the Products and Customers worksheets. The invoice form doesn’t have to be a drab-looking
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