Journal of Applied Accounting and Taxation Article History

Vol. 7, No. 1, March 2022, 9-15 Received August, 2021

e-ISSN: 2548-9925 Accepted March, 2022

Preparation of Financial Statement Using the

Microsoft Excel on PT Dehong Paper Industry
Dwi Fajar Noviantoa, Nanik Lestarib,*
a
Business Management Department, Politeknik Negeri Batam, dwifajaar@gmail.com, Indonesian
b
Business Management Department, Politeknik Negeri Batam, nanik@polibatam.ac.id, Indonesian

Abstract. This research aims to prepare financial statements using Microsoft Excel in the PT Dehong Paper
Industry. Data collection techniques are observation, interviews, and documentation. The data analysis method used
is the descriptive method. The research concludes that by using Microsoft Excel, the information obtained can be
real-time, synchronous, and interactive. It can be easily streamlined by following the flow of steps using a simple
excel formula.

Keywords: financial statement, Microsoft Excel, transaction, preparation

* Correspondence: nanik@polibatam.ac.id
 D.W. Novianto, N. Lestari | Journal of Applied Accounting and Taxation 7 (1) 9-15 10

Introduction monetary units. Financial statements consist of, among

others, balance sheets, income statements, statements
Information technology can assist companies in of changes in equity, and cash flow statements.
optimizing company activities, including in the field of To develop a system, an approach is needed.
accounting. One application that is useful in accounting Systems development life cycle (SDLC) can be used to
is Microsoft Excel. Through this application, financial develop a system. According to Sri Mulyani (2016),
statements can be made quickly. Its features are pretty SDLC is used to build an information system to run
user-friendly, so it is easy to learn. according to what each entity or company expects.
Generally, Microsoft Excel is used by small There are several stages of SDLC, namely (1) system
companies to large companies. One company that has analysis; (2) system design; (3) system development;
used it is PT Dehong Paper Industry. The company is a (4) system testing; (5) system implementation; and (6)
company engaged in the manufacture of pulp with system maintenance.
materials from waste paper. Based on the explanation
from the Head of Accounting Department, the
company has recorded financial statements using Research Method
Microsoft Excel. However, between the sheets, both
journal sheets, ledgers, and financial statements are not The object of research in this research is PT Dehong
yet connected, so each sheet stands alone. Paper Industry. Data collection techniques in this study
This study aims to prepare financial statements are interviews, observation, and documentation.
using Microsoft Excel. The resulting report is created Interviews were conducted with the Head of
automatically by connecting journal sheets, ledgers, Accounting Department. The interview questions
and reports. The hope is that the work of the accounting relate to preparing the company's financial statements,
department in preparing financial statements can be especially using Microsoft Excel. Meanwhile,
simplified to minimize errors and save work time. observations were made by observing and observing
the preparation of the company's financial statements
using Microsoft Excel. Finally, transaction documents
Literature Review such as cash payment vouchers and cash receipt
vouchers are collected as a reference in preparing
According to Kieso, et al. (2016), the accounting financial statements. Analysis of the data used is
cycle is an information system that identifies evidence descriptive analysis. This study describes preparing
of transactions, records journals, and communicates financial reports using Microsoft Excel, which
economic events from an organization to users who automatically generates reports by connecting journal
need it. The financial statement preparation cycle starts sheets, ledger sheets, and financial reports.
from the measurement and identification stage, which
is then continued with journalizing, posting to the
ledger, preparing a trial balance, conducting adjusting Results and Discussion
journals, and adjusted balance sheets, presenting
financial statements and finally closing journals The Company implements several policies related to
(Hantono & Rahmi, 2018). Meanwhile, the computer- the implementation of accounting in preparing the
based accounting cycle is much shorter in preparing company's financial statements, among others, as
financial statements. The computer-based accounting follows.
cycle consists of source documents, general journals, 1) General
general ledgers, subsidiary ledgers, trial balances, and The company uses a monthly accounting period
financial statements (Mulyadi, 2013). of twelve months so that in one year, the company
According to Fahmi (2014), financial statements are prepares twelve financial statements or reports
information that describes a company's financial issued each month. Then, the company uses
condition, and this information can be used as a Rupiah (Rp) and US Dollar (USD). Transactions
description of financial performance and as material are recorded in double-entry journals—using the
for evaluating the company for future decisions. The accrual basis method.
purpose of financial statements is to provide 2) Purchasing
information to those in need about the development of Purchases are made with suppliers who are
a company from the point of view of numbers in overseas or imported. Purchases already take into
 11 D.W. Novianto, N. Lestari | Journal of Applied Accounting and Taxation 7 (1) 9-15

account VAT and other taxes on imports. Then, a Account Account Name Account Name
slip of approval for receipt of goods (SPPB) and No (In Indonesian) (In English)
201 Kendaraan Vehicle
notification of import of goods (PIB) will be 201.01 Ak Penyusutan Kendaraan Acc. Depreciation -
received. Payment to suppliers through proof of Vehicle
cash disbursements. 202 Mesin Machinery
3) Sales 202.01 Ak Penyusutan Mesin Depreciation -
Machinery
The company sells to customers who are abroad 203 Renovasi Dalam In-Building Renovation
or exports spread across China. The goods sold by Bangunan
the company are in the form of cardboard or paper 203.01 Ak Penyusutan Renovasi Acc. Depreciation - In-
powder from AS12 and AS13 materials. Every Dalam Bangunan Building Renovation
300 Hutang Usaha Account Payable
sale goes through an inspection process and a 301 Hutang Direksi Director Payable
customs process. Then, a notification document 302 Hutang Pajak Income Tax Payable
of the export of goods (PEB) will be received. The 303 Hutang Gaji Wages & Salaries
buyer or the customer bears all shipping costs and Payable
304 Hutang BPJS Social Security &
taxes. Ketenagakerjaan & Healthcare Payable
4) Payroll Kesehatan
The employee payroll system is divided into two: 305 Hutang Lain-Lain Other Payable
office staff payroll and field staff payroll. For 350 Uang Muka Penjualan Customer Deposit
400 Modal Equity
office staff, it is determined every first day of the 401 Laba/Rugi Tahun Lalu Previous Earnings
following month, while for field staff, it is 402 Laba Rugi Berjalan Current Eearnings
determined every eighth day of the following 500 Penjualan Sales
month. The payment process goes through the 501 Penjualan Lain-Lain Other Sales
602 Biaya Upah Kerja (Pabrik) Wages & Salaries
Panin Bank payroll process, which will go Expense (Production)
directly to each employee's account. 603 Biaya Overhead (Pabrik) Overhead Expense
5) Fixed Asset (Production)
The company has five types of fixed assets, 604 Biaya Listrik (Pabrik) Electricity Expense
(Production)
namely office equipment (4 years useful life), 605 Biaya Air (Pabrik) Water Expense
machinery (eight years useful life), vehicles (Production)
(eight years useful life), electrical installations 606 Biaya Pengangkutan Export Freight Expense
(eight years useful life), and renovations in Export (Pabrik) (Production)
607 Biaya Pengangkutan Import Freight Expense
buildings (twenty years useful life). The Import (Pabrik) (Production)
depreciation method used is the straight-line 608 Biaya Pemeriksaan dan Inspection and Import
method. Izin Impor Permit Expense
Next, create a list of accounts. Accounts include 609 Biaya Perlengkapan & Supplies Expense
Peralatan (Pabrik) (Production)
assets, debt, capital, expense, and income accounts. 610 Biaya Pembuangan Waste Disposal Expense
Sampah (Pabrik) (Production)
Table 1 611 Biaya Maintanance Maintenance Expense
Chart of Account (Pabrik) (Production)
612 Biaya Sewa (Pabrik) Rent Expense
Account Account Name Account Name (Production)
No (In Indonesian) (In English) 613 Biaya Reject Rejection Expense
101 Kas Cash 650 Harga Pokok Penjualan Cost of Goods Sold
102.01 Bank PANIN (IDR) PANIN Bank (IDR) 700 Biaya Gaji Karyawan Wages & Salaries
102.02 Bank PANIN (USD) PANIN Bank (USD) Expense (Office)
102.03 Bank PANIN (SGD) PANIN Bank (SGD) 701 Biaya Alat Tulis Kantor Supplies Expense
103 Piutang Usaha Account Receivable (Office)
104 Biaya di Bayar Dimuka Prepaid Expense 702 Biaya Entertainment Entertainment Expense
105 Uang Jaminan Sewa Rental Deposit 703 Biaya Keamanan & Security & Clearning
106 Angsuran Pajak Prepaid Tax Kebersihan Expense
107 Piutang Karyawan Employee Receivable 704 Biaya Kebutuhan Sehari- Daily Necessities
108 Persediaan Bahan Baku Raw Material Inventory Hari expense
109 Persediaan Barang Jadi Finished Goods 705 Biaya Kendaraan Vehicle Expense
Inventory 706 Biaya Listrik Kantor Electricity Expense
110 Uang Muka Pembelian Supplier Deposit (Office)
200 Inventaris Kantor Office Equipment 707 Biaya Telepon Kantor Telephone Expense
200.01 Ak Penyusutan Inventaris Acc. Depreciation - (Office)
Kantor Office Equipment 708 Biaya Air Kantor Water Expense (Office)
 D.W. Novianto, N. Lestari | Journal of Applied Accounting and Taxation 7 (1) 9-15 12

Account Account Name Account Name Account Account Name Account Name
No (In Indonesian) (In English) No (In Indonesian) (In English)
709 Biaya Perjalanan Dinas Official Travel Expenses 728 Biaya Pajak Tax Expense
710 Biaya Sewa Rent Expense 729 Biaya THR Religious Holiday
711 Biaya Pengurusan Kitas Temporary Allowance Expense
Stay/Resident Permit 730 Biaya Sumbangan Donation Expense
Card Expense 731 Biaya Kerugian – Fire Loss Expense
712 Biaya Pengiriman Freight Expense Kebakaran
713 Biaya Penambahan Daya Electricity Migration 800 Pendapatan Bunga Bank Interest Revenue
Listrik Expense 801 Pendapatan Lain-Lain Other Revenue
714 Biaya Penyusutan Aktiva Depreciation Expense 802 Pendapatan Kurs Exchange Rate Revenue
715 Biaya Internet Internet Expense 902 Beban Pajak Penghasilan Interest Income Tax
716 Biaya Pemeliharaan Maintenance Expense 903 Ayat silang Clearing Account
717 Biaya Pengurusan Document Processing
Dokumen Expense
718 Biaya Pajak+ ADM Bank Tax Expense & Bank
Every financial transaction carried out by the
Charges company will bring up transaction evidence so that the
719 Biaya Transportasi Transportation Expense first activity in an accounting cycle is to analyze and
720 Biaya Perizinan Licensing Expese classify transactions so that they can be recorded in
721 Biaya Lain-Lain Other Expense
722 Biaya Perlengkapan & Supplies Expense
journals, which then, from this analysis, will create
Peralatan (Kantor) (Office) financial information at the end of the accounting cycle
723 Biaya Administrasi Administration Expense stage. Transactions are entered in the journal sheet.
724 Biaya Pengobatan Medical Treatment Transactions used for the preparation of financial
Expense
725 Biaya BPJS Social Security &
statements are transactions during September 2020.
Ketenagakerjaan & Healthcare Expense Transactions during that month generally consist of
Kesehatan cash disbursements (e.g., car installment payments)
726 Biaya Pengangkutan Import Freight Expense and cash receipts (e.g., cash sales).
Import (Kantor) (Office)
727 Biaya Selisih Kurs Exchange Rate Expense

Fig. 1. Journal Sheet

The following is a description of each column 6) Correspondance contains information from the
available in the journal. customer/supplier.
1) Date or “Tanggal” contains the date the 7) Memo or “Keterangan” contains information
transaction occurred. about transactions that are journalized.
2) Dr/Cr indicates that the transaction to be entered 8) Debit contains the account's total balance that is
is for debit or credit positions. in the debit position.
3) Voucher No contains a sequence of voucher 9) Credit contains the account's total balance in the
numbers. credit position.
4) Acc. No contains the account code number that After all transactions are journalized, the next step is
will be used in journaling. to group each transaction according to the accounts that
5) Account name or “Nama Akun” contains the have been journalized. This process is called the ledger.
name of each account that will be used in making
the journal.
 13 D.W. Novianto, N. Lestari | Journal of Applied Accounting and Taxation 7 (1) 9-15

Fig. 2. Ledger Sheet

The following is a description of each column 1) Account Code contains the account code number,
available in the ledger. which will be displayed on the trial balance.
1) Date or “Tanggal” contains the date the 2) Account Name contains the account name that
transaction occurred. matches the account code number displayed on
2) Dr/Cr indicates that the transaction to be entered the balance sheet.
is for debit or credit positions. 3) Debit contains the balance of the account whose
3) Voucher No contains a sequence of voucher normal balance is in the debit position.
numbers. 4) Credit contains the balance of the account whose
4) Memo or “Keterangan” contains a description of normal balance is in the credit position.
journalized transactions. Next is the preparation of financial reports and other
5) Correspondance contains information from the reports. The financial statements consist of the income
customer/supplier. statement, balance sheet, and changes in capital, while
6) Acc. No contains the account code number that other reports consist of the accounts payable and
will be used in journaling. account receivable subsidiary ledgers.
7) A/C Name contains the name of each account that The income statement is a report that measures the
will be used in making the journal. operational success of a company for a certain period.
8) Debit contains the account balance amount in the The report can be seen on the income statement sheet.
debit position.
9) Credit contains the account's total balance in the
credit position.
10) Balance contains the total account balance.
The next step is to prepare a trial balance by
classifying the ending balance of each account in the
ledger.

Fig. 3. Trial Balance Sheet

Fig. 4. Income Statement Sheet

The following is a description of each column

available in the trial balance.
 D.W. Novianto, N. Lestari | Journal of Applied Accounting and Taxation 7 (1) 9-15 14

The balance sheet is a financial position statement

describing a company's assets, liabilities, and capital on
a specific date or period. The balance sheet can be seen
in the following figure.

Fig. 7. Customer Ledger Sheet

The supplier ledger records the company's debts to

each supplier. The debt subsidiary ledger can be seen
in the following figure.

Fig. 8. Supplier Ledger Sheet

Conclusion

Preparing financial statements using Microsoft

Excel begins with identifying accounting policies and
charts of accounts (COA). Accounting policies include
Fig. 5. Balance Sheet general purchases, sales, payroll, and fixed assets. The
COA consists of asset, debt, equity, revenue, and
The statement of changes in the capital is a report expense accounts. After that, prepare a journal sheet to
that explains changes in equity and total equity for the input the journal according to the proof of the
period. The report can be seen in the following figure. transaction. Journal sheets are linked to ledger sheets,
trial balances, and reports. The output reports are
income statements, balance sheets, and statements of
changes in capital. In addition, there are other reports,
namely supplier ledger and customer ledger. By using
Microsoft Excel, the information obtained can be real-
time, synchronous, and interactive. It can be easily
streamlined by following the flow of steps using a
simple excel formula.
Suggestions from this research for companies,
Fig. 6. Statements of Changes in Equity namely that a sound internal control system (SPI) is
needed. The SPI includes the application of internal
The customer ledger records the company's control and human resources (HR). The company
receivables to each customer. The accounts receivable needs to monitor the financial reports generated
subsidiary ledger can be seen in the following figure. through Microsoft Excel periodically. This action
needs to be done to increase the validity and reliability.
Then, HR who manages accounting data should still
 15 D.W. Novianto, N. Lestari | Journal of Applied Accounting and Taxation 7 (1) 9-15

employ HR who understands accounting and Microsoft Hantono & Rahmi, N. U., 2018. Pengantar Akuntansi. Yogyakarta:
Excel to minimize human errors. Deepublish.
Kieso, D. E., Weygandt, J. J. & Warfield, T. D., 2016. Intermediate
Accounting. s.l.:John Wiley & Sons.
References Mulyadi, 2013. Sistem Akuntansi. Jakarta: Salemba Empat.
Mulyani, S., 2016. Metode Analisis dan Perancangan Sistem.
Fahmi, I., 2014. Analisis Laporan Keuangan. Bandung: Alfabeta. Bandung: Abdi Sistematika.