..of Duane & Eva's Old Kentucky Home PageDuane Bristow (oldky@webcom.com)
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Pretty Good Accounting System
**CAUTION: This system will convert any numbers to be stored to zero if
they exceed 21,474,836.48
The system is incapable of sorting more than 8,000 vendors with
open accounts for the aged accounts report. However, by
categorizing vendors, it is possible to produce aged accounts
reports for each of up to 36 categories with up to 8,000 vendors
with open accounts in each category.
The system is incapable of performing an audit trail of over
3,000 transactions at once. However, number of transactions
for audit trails can be limited by both date range and other
exclusion parameters.
The trial balance in posting will only total up to 100 checks
at a time. Any additional checks posted simply will not show
on the trial balance but will be handled properly by the system.
Not over 100 temporary transaction files can be hidden at once.
Additional programming can work around most of the above
limitations if they become a significant problem.
NUMBER OF WORK DAYS PER PAY PERIOD
FOR PAYROLL TAX WITHHOLDING - FED
PAY PERIOD # OF DAYS
WEEKLY 5
BIWEEKLY 10
SEMI-MONTHLY 11
MONTHLY 22
QUARTERLY 65
SEMIANNUALLY 130
ANNUALLY 260
EVERY 4 MONTHS 87
CODES FOR TYPE OF GENERAL LEDGER ACCOUNT - ALORE - 12345
(Assets, Liabilities, Owner's Equity, Revenues, Expenses)
! * AC - Cash on Hand ! * OP - Current Earnings
AN - Notes Receivable * OR - Retained Earnings
! * AR - Accounts Receivable OC - Capital Investment
! AI - Merchandise Inventory
AP - Prepaid Expenses ! RS - Revenue from Sales
AS - Supplies RC - Carrying Charge Revenue
AE - Equipment RX - Other Revenue
AO - Ofc. equipment ! RQ - Cost of goods sold
AM - Machinery
AV - Vehicles
AB - Buildings ! ES - Selling Expenses
AL - Real Estate - Land ! EC - Cost of goods sold
AX - Other Assets EO - Operating Expenses
ET - Tax Expense
LN - Notes Payable EZ - Insurance Expense
! * LP - Accounts Payable EP - Payroll Expense
LA - Accrued Payables EI - Interest Expense
LT - Accrued taxes EX - Other Expenses
! LW - Accrued payroll withholding
LU - Unearned Income
LL - Long term Liabilities * - Recognized by the system
! LC - Other current liabilities ! - Used in financial analysis
POSTING HINTS
TYPE AMOUNT ACCOUNT
Sales posting cash or rec. + sales
Rec. on Account cash + accounts receivable
Checks written bank account - expense account if expense
bank account - asset account if equipment etc.
bank account - liability account if paid on
debt or payable if paid on
accounts payable
Bills received accts payable - inventory asset account
or expense account
Bank deposits bank account + cash OR
Bank deposits cash - bank account
cost of sales inventory account - cost of sales expense account
Check # can be used for check number or invoice number.
Vendor # is required for accounts payable and accounts receivable but is
optional otherwise.
Principal = $10,000.00
Interest rate = 10 %
12 payments per year of $322.67 each.
Down Payment = $0.00
Amortization schedule
for Joe's Old Shoe Shop
Date of payment Payment Principal Interest Balance
JAN 1 1999 322.67 239.34 83.33 9,760.66
FEB 1 1999 322.67 241.33 81.34 9,519.33
MAR 1 1999 322.67 243.34 79.33 9,275.98
APR 1 1999 322.67 245.37 77.30 9,030.61
MAY 1 1999 322.67 247.42 75.26 8,783.19
JUN 1 1999 322.67 249.48 73.19 8,533.71
JUL 1 1999 322.67 251.56 71.11 8,282.15
AUG 1 1999 322.67 253.65 69.02 8,028.50
SEP 1 1999 322.67 255.77 66.90 7,772.73
OCT 1 1999 322.67 257.90 64.77 7,514.83
NOV 1 1999 322.67 260.05 62.62 7,254.78
DEC 1 1999 322.67 262.22 60.46 6,992.56
JAN 1 2000 322.67 264.40 58.27 6,728.16
FEB 1 2000 322.67 266.60 56.07 6,461.56
MAR 1 2000 322.67 268.83 53.85 6,192.73
APR 1 2000 322.67 271.07 51.61 5,921.67
MAY 1 2000 322.67 273.33 49.35 5,648.34
JUN 1 2000 322.67 275.60 47.07 5,372.74
JUL 1 2000 322.67 277.90 44.77 5,094.84
AUG 1 2000 322.67 280.22 42.46 4,814.62
SEP 1 2000 322.67 282.55 40.12 4,532.07
OCT 1 2000 322.67 284.91 37.77 4,247.16
NOV 1 2000 322.67 287.28 35.39 3,959.88
DEC 1 2000 322.67 289.67 33.00 3,670.21
JAN 1 2001 322.67 292.09 30.59 3,378.12
FEB 1 2001 322.67 294.52 28.15 3,083.60
MAR 1 2001 322.67 296.98 25.70 2,786.63
APR 1 2001 322.67 299.45 23.22 2,487.17
MAY 1 2001 322.67 301.95 20.73 2,185.23
JUN 1 2001 322.67 304.46 18.21 1,880.77
JUL 1 2001 322.67 307.00 15.67 1,573.77
AUG 1 2001 322.67 309.56 13.11 1,264.21
SEP 1 2001 322.67 312.14 10.54 952.07
OCT 1 2001 322.67 314.74 7.93 637.33
NOV 1 2001 322.67 317.36 5.31 319.97
DEC 1 2001 322.64 319.97 2.67 0.00
Total 1,616.18
JOE'S OLD SHOE SHOP:GUEST - Gen. Ledger - 10/01/99 to 11/07/99 11-07-1999 11:32
..AMOUNT..
Bank Account 4,210.46
Inventory Value -650.00
Accounts Payable 1,000.00
Bank Note 1 129.14
Federal payroll W/H tax -45.02
State payroll W/H tax -52.93
FICA tax W/H -215.96
Medicare tax W/H -50.50
Payroll Deduction 1 -160.00
Sales Tax Liability -958.50
Inventory Sales -15,975.00
Cobbler Sales -315.00
Cost of Sales 10,650.00
Cobbler Payroll Account 655.75
Sales Payroll Account 1,086.00
Employer's Share of FICA 133.23
Store Rent 400.00
Phone Expense Account 75.00
Interest Payments 83.33
JOE'S OLD SHOE SHOP:GUEST - Gen. Ledger - 10/01/99 to 11/07/99 11-07-1999 11:37
..DATE.. CHECK# ..AMOUNT+. ..AMOUNT-. REMARKS
General Ledger - 10/01/99 to 11/07/99 - 132 transactions
Beginning acct - 103.00 Ending acct Ending acct - 470.00
First Sort Field: Account
Second Sort Field: None
..DATE.. CHECK# ..AMOUNT+. ..AMOUNT-. REMARKS
10/05/99 4,125.00 Inventory Sales
10/05/99 247.50 Sales Tax Liability
10/05/99 55.00 Cobbler Sales
10/05/99 101 -199.17 Martha Smith
10/12/99 3,975.00 Inventory Sales
10/12/99 238.50 Sales Tax Liability
10/12/99 78.00 Cobbler Sales
10/12/99 102 -186.33 Martha Smith
10/19/99 3,600.00 Inventory Sales
10/19/99 216.00 Sales Tax Liability
10/19/99 103 -192.75 Martha Smith
10/26/99 4,275.00 Inventory Sales
10/26/99 256.50 Sales Tax Liability
10/12/99 104 -295.14 Sam Jones
10/19/99 85.00 Cobbler Sales
10/26/99 97.00 Cobbler Sales
10/26/99 105 -297.28 Sam Jones
10/26/99 106 -179.90 Martha Smith
10/29/99 1005 -75.00 Phone Expense Account
10/29/99 1006 -11,000.00 PAID ON ACCOUNTe
10/29/99 1007 -129.14 Bank Note 1
10/29/99 1007 -83.33 Interest Payments
10/29/99 1008 -400.00 Store Rent
Bank Account 17,248.50 -13,038.04
--------------------------------------------------------------------------------
10/05/99 -2,750.00 Cost of Sales
10/12/99 -2,650.00 Cost of Sales
10/15/99 10,000.00 Accounts Payable
10/19/99 -2,400.00 Cost of Sales
10/26/99 -2,850.00 Cost of Sales
Inventory Value 10,000.00 -10,650.00
--------------------------------------------------------------------------------
10/15/99 -10,000.00 Accounts Payable
10/29/99 1006 11,000.00 PAID ON ACCOUNTe
Accounts Payable 11,000.00 -10,000.00
--------------------------------------------------------------------------------
10/29/99 1007 129.14 Bank Note 1
Bank Note 1 129.14
--------------------------------------------------------------------------------
10/05/99 -13.28 Martha Smith
10/12/99 -10.58 Martha Smith
10/19/99 -11.93 Martha Smith
10/26/99 -9.23 Martha Smith
Federal payroll W/H tax -45.02
--------------------------------------------------------------------------------
10/05/99 -10.75 Martha Smith
10/12/99 -9.67 Martha Smith
10/19/99 -10.21 Martha Smith
10/12/99 -6.52 Sam Jones
10/26/99 -6.65 Sam Jones
10/26/99 -9.13 Martha Smith
State payroll W/H tax -52.93
--------------------------------------------------------------------------------
10/05/99 -17.67 Martha Smith
10/05/99 -17.67 Martha Smith
10/12/99 -16.55 Martha Smith
10/12/99 -16.55 Martha Smith
10/19/99 -17.11 Martha Smith
10/19/99 -17.11 Martha Smith
10/12/99 -20.25 Sam Jones
10/12/99 -20.25 Sam Jones
10/26/99 -20.40 Sam Jones
10/26/99 -20.40 Sam Jones
10/26/99 -16.00 Martha Smith
10/26/99 -16.00 Martha Smith
FICA tax W/H -215.96
--------------------------------------------------------------------------------
10/05/99 -4.13 Martha Smith
10/05/99 -4.13 Martha Smith
10/12/99 -3.87 Martha Smith
10/12/99 -3.87 Martha Smith
10/19/99 -4.00 Martha Smith
10/19/99 -4.00 Martha Smith
10/12/99 -4.74 Sam Jones
10/12/99 -4.74 Sam Jones
10/26/99 -4.77 Sam Jones
10/26/99 -4.77 Sam Jones
10/26/99 -3.74 Martha Smith
10/26/99 -3.74 Martha Smith
Medicare tax W/H -50.50
--------------------------------------------------------------------------------
10/05/99 -40.00 Martha Smith
10/12/99 -40.00 Martha Smith
10/19/99 -40.00 Martha Smith
10/26/99 -40.00 Martha Smith
Payroll Deduction 1 -160.00
--------------------------------------------------------------------------------
10/05/99 -247.50 Sales Tax Liability
10/12/99 -238.50 Sales Tax Liability
10/19/99 -216.00 Sales Tax Liability
10/26/99 -256.50 Sales Tax Liability
Sales Tax Liability -958.50
--------------------------------------------------------------------------------
10/05/99 -4,125.00 Inventory Sales
10/12/99 -3,975.00 Inventory Sales
10/19/99 -3,600.00 Inventory Sales
10/26/99 -4,275.00 Inventory Sales
Inventory Sales -15,975.00
--------------------------------------------------------------------------------
10/05/99 -55.00 Cobbler Sales
10/12/99 -78.00 Cobbler Sales
10/19/99 -85.00 Cobbler Sales
10/26/99 -97.00 Cobbler Sales
Cobbler Sales -315.00
--------------------------------------------------------------------------------
10/05/99 2,750.00 Cost of Sales
10/12/99 2,650.00 Cost of Sales
10/19/99 2,400.00 Cost of Sales
10/26/99 2,850.00 Cost of Sales
Cost of Sales 10,650.00
--------------------------------------------------------------------------------
10/12/99 104 295.14 Sam Jones
10/12/99 6.52 Sam Jones
10/12/99 20.25 Sam Jones
10/12/99 4.74 Sam Jones
10/26/99 105 297.28 Sam Jones
10/26/99 6.65 Sam Jones
10/26/99 20.40 Sam Jones
10/26/99 4.77 Sam Jones
Cobbler Payroll Account 655.75
--------------------------------------------------------------------------------
10/05/99 101 199.17 Martha Smith
10/05/99 13.28 Martha Smith
10/05/99 10.75 Martha Smith
10/05/99 17.67 Martha Smith
10/05/99 4.13 Martha Smith
10/05/99 40.00 Martha Smith
10/12/99 102 186.33 Martha Smith
10/12/99 10.58 Martha Smith
10/12/99 9.67 Martha Smith
10/12/99 16.55 Martha Smith
10/12/99 3.87 Martha Smith
10/12/99 40.00 Martha Smith
10/19/99 103 192.75 Martha Smith
10/19/99 11.93 Martha Smith
10/19/99 10.21 Martha Smith
10/19/99 17.11 Martha Smith
10/19/99 4.00 Martha Smith
10/19/99 40.00 Martha Smith
10/26/99 106 179.90 Martha Smith
10/26/99 9.23 Martha Smith
10/26/99 9.13 Martha Smith
10/26/99 16.00 Martha Smith
10/26/99 3.74 Martha Smith
10/26/99 40.00 Martha Smith
Sales Payroll Account 1,086.00
--------------------------------------------------------------------------------
10/05/99 17.67 Martha Smith
10/05/99 4.13 Martha Smith
10/12/99 16.55 Martha Smith
10/12/99 3.87 Martha Smith
10/19/99 17.11 Martha Smith
10/19/99 4.00 Martha Smith
10/12/99 20.25 Sam Jones
10/12/99 4.74 Sam Jones
10/26/99 20.40 Sam Jones
10/26/99 4.77 Sam Jones
10/26/99 16.00 Martha Smith
10/26/99 3.74 Martha Smith
Employer's Share of FICA 133.23
--------------------------------------------------------------------------------
10/29/99 1008 400.00 Store Rent
Store Rent 400.00
--------------------------------------------------------------------------------
10/29/99 1005 75.00 Phone Expense Account
Phone Expense Account 75.00
--------------------------------------------------------------------------------
10/29/99 1007 83.33 Interest Payments
Interest Payments 83.33
--------------------------------------------------------------------------------
JOE'S OLD SHOE SHOP:GUEST - T Balance Sheet - OCTOBER 1999 11-18-1999 23:23:21 ACCOUNT Prev. Period Difference ASSETS: 103.00 Bank Account 11,660.46 7,450.00 4,210.46 120.00 Inventory Value 9,350.00 10,000.00 -650.00 130.00 Equipment Asset Account 7,000.00 7,000.00 150.00 Utility Deposits 150.00 150.00 LIABILITIES: 210.00 Accounts Payable -9,000.00 -10,000.00 1,000.00 220.00 Bank Note 1 -9,870.86 -10,000.00 129.14 232.00 Federal payroll W/H tax -45.02 -45.02 233.00 State payroll W/H tax -52.93 -52.93 234.00 FICA tax W/H -215.96 -215.96 235.00 Medicare tax W/H -50.50 -50.50 241.00 Payroll Deduction 1 -160.00 -160.00 250.00 Sales Tax Liability -958.50 -958.50 EQUITY: 280.00 Current Earnings -2,806.69 400.00 -3,206.69 284.00 Capital investment -5,000.00 -5,000.00 TOTALS 0.00 0.00 0.00
JOE'S OLD SHOE SHOP:GUEST - T OCTOBER 1999 to OCTOBER 1999 11-18-1999 23:23:24 ACCOUNT YTD Av. last 12 REVENUES: 320.00 Inventory Sales -15,975.00 -15,975.00 -1,331.25 330.00 Cobbler Sales -315.00 -315.00 -26.25 EXPENSES: 420.00 Cost of Sales 10,650.00 10,650.00 887.50 430.10 Cobbler Payroll Account 655.75 655.75 54.65 430.20 Sales Payroll Account 1,086.00 1,086.00 90.50 433.00 Employer's Share of FICA 133.23 133.23 11.10 450.00 Store Rent 400.00 800.00 66.67 460.00 Phone Expense Account 75.00 75.00 6.25 470.00 Interest Payments 83.33 83.33 6.94 TOTALS -3,206.69 -2,806.69 -233.89
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Last revised November 26, 1999.
URL: http://webcom.com/~duane1/acct5.html
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..of Duane & Eva's Old Kentucky Home Page
Duane Bristow (oldky@webcom.com)
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All contents copyright (C) 1999, Duane Bristow. All rights reserved.