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The steps to import a trial balance from an accounting software into an Excel spreadsheet using ExcelFSM. It covers the process of specifying the enterprise name, as-of date, and worksheet column letters for account numbers, titles, debits, and credits. The document also explains how to group accounts into items, insert item balances into financial reports, and read the trial balance data for multiple financial periods. Additionally, it discusses the features of ExcelFSM, such as the Comparative and Rounded buttons, and the flexibility of customized financial statements.
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(*) It should be straightforward to put the trial balance produced by accounting software into an Excel spreadsheet. Typically you would choose the Export, Save As, or Print To File functions within the accounting program.
1 - Once Excel is running, starting with a blank workbook, select the FSM tab in the ribbon, click the Read Trial Balance Data button
After few seconds, the Read Trial Balance Data dialog will appear
3 - Select (double click) the appropriate file
2 - Select folder
The workbook is renamed, using FSM + name of enterprise + as-of date for the workbook name
The Chart of Accounts is opened
8 - Click the Close button
You are now ready to start building reports
A ‘ReadTBData printout’ worksheet is generated.
It shows the data read by ExcelFSM, according to your specifications:
. name of enterprise . as-of-Date . the data read . the number of accounts . computed totals for Debit and Credit
This is only a printout for verification purposes. It can be printed, deleted, etc.
Using the FSM buttons to initialize cells
Enterprise Name As-Of Date Suggested Item Titles
Item Balance
Suggested Item Titles shows the titles of the accounts in the Chart of Accounts.
Select the desired text, and it will be inserted into the active cell in your worksheet.
Group accounts into an Item and insert the item's balance into your financial report.
FSMITEMBALANCE formula Total formula
unique identifier Item Sense (Debit/Credit)
Ending period index Beginning period index (index 0 being current period)
starts with =1*
Item Sense selection
ExcelFSM implements the notion of Debit and Credit in Excel
No parenthesis computed properly
Details button: toggles the display of an Item’s accounts, for selected Item(s)
FSMACCOUNTBALANCE formula
. Account index . Item Sense (Debit/Credit) . Beginning period index . Ending period index
After few seconds, the following dialog appears
3 - Specify the as-of Date for the Trial Balance (this is 2010, as opposed to the previous 2009)
4 - click OK
ExcelFSM read the data according to the specified as-of date, in the selected accounting software data file
A new FSM workbook is created, using FSM + name of enterprise + as-of date for the workbook name (^) The workbook of the previous period is saved,
creating an historical series of workbooks, one for each of their respective financial periods
A ‘ReadTBData printout’ worksheet is generated.
It shows the data read by ExcelFSM, according to your specifications:
. name of enterprise . as-of-Date . the data read . the number of accounts . computed totals for Debit and Credit
This is only a printout for verification purposes. It can be printed, deleted, etc.
Now that there is more than one financial period, you can have a comparative presentation
1 - automatically with the Comparative button
2 - manually, with the Balance Variation button
a - by copying the column b - and selecting the period
Rounded button
Allows you to look at your financial report with the rounded balances of accounts, items and totals, by having ExcelFSM rounding the value of the accounts balances.
ExcelFSM not only displays rounded values, but also computes with the rounded values of the accounts balances, to provide accuracy.
2 - push Details button 3 - push Comparative button
Fund Accounting
