Excel Accounts Payable / Accounts Receivable Exercise - Watch Chris Work

Accountants use Excel all the time. This video, which is excellent for Accounting students, looks at a Accounts Receivable (AR) or Accounts Payable (AP) exercise. Accounts Payable is what your company owes to vendors and suppliers. Accounts Receivable is what is due to your company from your customers. A lot of companies use the term Net 30. That means an invoice for AR is due in 30 days. For AP, the vendor wants their money in 30 days. Both AR and AP are listed on the balance sheet. AR shows up under current assets. AP is a liability and shows up under current liabilities.

Chapters:
00:00 Introduction
00:50 Sample data presentation
00:59 Insert current date
01:13 TODAY function
01:47 Accounts Payable/Receivable
02:27 TEXT function
03:37 LEN function
03:53 TEXT with zero-padding
05:24 Increase/Decrease Indent
05:53 Comma style
06:32 Invoice due date
06:57 Age of invoice
07:52 Days overdue
08:21 Average nr of days overdue
08:55 AVERAGEIF
11:30 Conditional Formatting
13:50 Closing remarks

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[mdnoorulla]

Way of Teaching Interesting, Very Simple & Slowly Teaching.its very useful

[gayatribanjara]

Very simple, clearly and slowly teaching, also very useful, good video. I learn a lot Thank you!

[irynasavchenko]

Thank you Sir for both, tutorial and gratis spreadsheet to follow along! Exactly what I needed!

[xianxiong]

This is exactly what I am looking for!!!

[annie.ttan]

Thank you so much Mr Chris. So amazing. Keep up the good work ❤️🔥

[victoriaatkins]

This was so easy to understand, Thank you.

[DrewandAlly]

This was great, thank you so much !!!!

[hrashidi]

Super interesting, thank you! I'm doing finance right now and too much manual input will break my fingers...

[Postmann]

Great video Chris. Thank you. Question: Is there a way to enter two arguments into the formula ie: ("ABC", and ">0") ?

[juantapia]

Hello. Thank you very much for your video, excellent. Can I ask you a question, please? I would like to know what type of value I must to consider in the sale (accounts receivable) : net sale (without VAT) or with VAT? I understand that the sales values, cost, expenses, must always be recorded without VAT. Thank you so much!

[fcg]

this is great i am not sure if i can get a replay but what if you want to add more invoices than the 13 he is using it does not affect invoice entered after i did this formatting. I am not great at all with this I am very new to spread sheets I am sure a 13 year old knows more than myself.

[BeGOoD]

first thanks for sharing this skills, but the general not appear in cell when the text formula in moving the cell to else, how i solve it

[nisasavenue]

is this what account recv interns will need to do ?

[PiuriBeko]

Hello Chris am from Papua New Guinea am very interested to join you in excel accounting