CONTACTS 

SUBJECTS
Personal, Finance, Taxes, 91

0403 -    ..
0404 - Summary/Objective
0405 -
040501 - Completed posting the reports and obligations.  Still need to format,
040502 - print and submit.
040503 -
040504 -
0406 -
0407 -
0408 - Procedure
0409 -   ..
040901 - I segmented check register for 1992 from 1991 at ref SDS 4 line
040902 - 32.
040903 -
040904 -
040905 -   Check Register for Current Year
040906 -
040907 -   •  Bring up current register and post account codes for Welch
040908 -      Company register.  This is not necessary for Millie's check
040909 -      register.
040910 -
040911 -      Save to ...92.wk1.
040912 -
040913 -   •  Now the current screen is 92.wk1.
040914 -
040915 -   •  Post the value in the Actual Balance column "B...", for the last
040916 -      date in Dec 91 to cell B13, which is the initial Actual Balance
040917 -      for the new year.
040918 -
040919 -   •  Change the date cell in H13, to 1-Jan 93.
040920 -
040921 -   •  Change the check number in cell I13 to the actual check number
040922 -      shown in the cell, rather than the formula, since this is the
040923 -      first entry and so the cell formula is shown as an "error."
040924 -
040925 -   •  Delete all rows from below the initial row 13, to the last
040926 -      transaction in Dec 91.  This will make the cell formulas in the
040927 -      new row 14 all "errors."
040928 -
040929 -   •  Copy all cell formulas from row 15 to the row above, 14, BEFORE
040930 -      doing a calculation, F9, because otherwise the errors in row 13
040931 -      are replicated throughout the spreadsheet.
040932 -
040933 -   •  After copying the formulas, press F9.  The ending balance in the
040934 -      new spreadsheet should be the same as in the existing one for
040935 -      1991.  If not, check the steps.
040936 -
040937 -      Outstanding Checks
040938 -
040939 -      A primary cause of a difference in the ending balance is there
040940 -      remain some outstanding checks from the prior year.  If there are
040941 -      outstanding checks, these need to be recognized in the formulas.
040942 -
040943 -    ..
040944 -   Check Register for Prior Year Used to Prepare Tax Return
040945 -
040946 -   •  Open the check register for the prior year and remove the rows
040947 -      from the end of last year to the current date, so that the file
040948 -      contains only activity for the prior year.
040949 -
040950 -   •  Leave the last row, so the formulas in the various Totals fields
040951 -      will compute Ending Balance at the bottom of the spreadsheet, and
040952 -      will not get messed up with ERR messages.
040953 -
040954 -   •  After removing the rows, copy the formulas from the second-to-
040955 -      last row to the last row.
040956 -
040957 -   •  Still have to adjust the formulas in the cells for Totals
040958 -      summaries to reflect changed ranges from deleting rows that
040959 -      remove current year transactions.
040960 -
040961 -
040962 -  ..
040963 - Tax Report for Prior Year
040964 - Create Sorted List by Account Code
040965 -
040966 - IRS account codes are initially posted in col "L1" only of the
040967 - check register in order to create the expense and income report, ref
040968 - OF 9. It is created after posting the account codes from Schedule C of
040969 - Form 1040.  Sort criteria is...
040970 -
040971 -                   Field L1, and Date and Check # fields as secondary
040972 -                   criteria.
040973 -
040974 -
040975 - Another sort can be done on the date/check and account number fields,
040976 - to create an order that has all of the entries subject to inclusion in
040977 - Millie's obligation analysis.  The sort puts all entries without an
040978 - account number at the top where they can be deleted so the result can
040979 - be "extracted" to another file as values only, since the formulas are
040980 - not needed in the obligations spreadsheet (in fact it uses different
040981 - formulas).  Have to close the check register without saving it since
040982 - we have changed the structure.
040983 -
040984 -    Actually, to accomplish the sort, it is a good idea to open the
040985 -    check register as another file in order to avoid saving it after it
040986 -    has been sorted.
040987 -
040988 - The extracted file can then be "combined" into the spreadsheet for the
040989 - obligations, ref OF 4 for formatting and extension of the formulas on
040990 - this new data.
040991 -
040992 - The explanations of the transactions generally need to be changed
040993 - because the field is much smaller than is available in the check
040994 - register, in order to accomodate printing.
040995 -
040996 -
040997 -
0410 -
0411 -
0412 - Obligations, Millie
0413 -
041301 - Looks like we again have an incorrect formula on interest.  We have
041302 - not been charging any of the payments to the interest account, but
041303 - have been simply reducing the principal amount.  We should have been
041304 - reducing the interest owed similarly with principal.  Seems like we
041305 - should pro-rate the payment so both accounts are reduced.
041306 -
041307 - Modifed the formula accordingly.
041308 -
041309 - Changed the application of interest owed to Millie in the summary. It
041310 - is still not accurate, but may be closer.  The calculation works for
041311 - other obligations because so far we have been unable to make payments
041312 - on them, so the interest is computed annually.  But with Millie we
041313 - have made payments during the year with the result that the amount of
041314 - interest owed at the end of the year does not reflect the amount of
041315 - interest paid during the year.  Since the latter is accumulated, I
041316 - changed the Summary for Millie to use the total interest paid for her,
041317 - rather than the remaining balance, which is what we had been showing.
041318 -
041319 - This had the effect of reducing slightly the amount of interest showed
041320 - as owing for the prior years.
041321 -
041322 -
041323 -
0414 -