New to Accounting? Seeking Advice and Excel Templates for Managing Company Accounts

Hi, I am a fresher who has recently secured a job in the accounting field at a company that is 2 years old. Please provide me with the formats and advise me on how to maintain all the accounts. Additionally, could you please forward me the Excel templates for the accounting materials?

Thank you.

Maintaining Accounts: Excel vs. Accounting Software

How can you maintain accounts in Excel format? Or have you phrased your question incorrectly? If you are from an accounting background, then you will know how to maintain accounts. Ask your company to purchase accounting software. Tally is one that is the most common and pretty easy to use. If you are not from an accounting background, then you probably need to seek help from a senior to learn what to do and maybe join a part-time Tally course. To the best of my knowledge, trying to maintain accounts in Excel will be a disaster.

Regards

First of all, please answer these questions mentioned below:

1. What type of format do you require?
2. Are these formats related to Accounts or HR?
3. How many employees are working there?
4. What type of organization/company do you have?
5. Does it belong to the service sector or manufacturing?
6. What is your designation there?
7. What type of work do you handle there, or what is your job profile?
8. What type of Excel format do you require for work?

Kindly answer the above-mentioned questions so that we can solve your query.

Best regards,
Meenu
[Email Removed For Privacy Reasons]

Dear Naveen,

What's your background? B.Com?

Choosing the Right Accounting Package

The accounting package is a professional one. The choice would depend on the size and nature of your business. If you only require a cash book or day book, Excel would suffice. However, if you need a complete accounting package up to the Balance Sheet, it's better to consult your Statutory Auditors. They may suggest purchasing the TALLY package, which would require hands-on training in Tally.

If you only need Excel formats, please let me know.

Regards,
Kumar S.

Types of Accounts to Maintain

In accounts, there are various types of accounts to be maintained, such as Proprietorship Firm, Partnership Firm, Private Ltd Company, Public Company Limited by Shareholding, Public Sector Ltd Company, Government Department Accounts, and accounts to be maintained in any cooperative society, etc.

Role of Chartered Accountants

Nowadays, if the firm has a sizeable business, they need to have the services of a chartered accountant for Income Tax, Sales/Value Added Tax, Excise, Service Tax, etc. If your company has a chartered accountant, it is better to ask them what types of books of accounts are required to be maintained by you. Accordingly, you can get ready-made books of accounts from the stationery shop. If they suggest keeping the accounts in computer software, then ideally it is Tally, TCS EX, Busy, Munimji, etc.

Day-to-Day Accounting

For day-to-day rough accounting, you can maintain the same in Excel files. However, you need to disclose your qualifications and how proficient you are in Excel and Tally, etc., software.

Best of luck.

Regards