Simply PMA

Streamline construction accounting with this Excel template built specifically for the industry’s chart of accounts.

This professionally designed spreadsheet automatically converts your construction trial balance into a well-structured and formatted Balance Sheet and Income Statement, streamlining the financial reporting process. With its intuitive design and user-friendly interface, it significantly reduces the amount of manual work required, allowing you to focus on more critical tasks. Whether you’re a project manager or an accountant, this tool enhances accuracy and efficiency, ensuring that all financial data is presented clearly and concisely for better decision-making and analysis.

Key Features:

• Tailored to construction industry accounts
• Auto-generated Balance Sheet & Income Statement
• Variance analysis vs. prior period
• Line items as % of total for each statement
• Editable chart of accounts and descriptions
• Built-in error checks to keep your balance accurate

How to use it:

• Enter your trial balance in the Trial Balance tab. Make sure to input all relevant accounts carefully to ensure accuracy in your financial statements. The trial balance serves as the foundation for your accounting records, so take your time to double-check each entry.
• Input any adjusting entries (debits = positive, credits = negative). Adjusting entries are crucial for presenting your financial data accurately, as they account for accrued or deferred items that were not included in the initial trial balance. Ensure that your adjustments reflect the true state of your financials.
• Add prior period totals to the Balance Sheet and Income Statement tabs. This step provides context for your current financial performance and helps in understanding trends over time. It is essential for making informed decisions based on historical data.
• Your financials are calculated instantly, with all key metrics in place. This feature saves you significant time by automating calculations that typically require manual work, reducing the chances of errors and providing immediate insights into your business’s financial health.

Whether you’re an accountant, bookkeeper, or construction business owner, this template will save you hours and provide crystal-clear financial visibility. It streamlines the complex process of financial reporting, allowing you to focus on strategic planning and decision-making rather than getting lost in the details of number crunching. With this tool at your disposal, you can confidently present your financial data, enabling better communication with stakeholders and facilitating smoother operations within your organization.

Format: MS Excel

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