You can manually create Profit & Loss and Balance Sheet reports using just Excel.
No need for any accounting software. This will allow you to effectively use LodgeiT tax forms and special purpose reporting.
First, you have to Install LodgeiT Smart Excel Utility, (Close any excel before you proceed downloading)
It will re-direct to LodgeiT Smart Excel Utility spreadsheet that will allow you to manage add/edit "Balance sheet" "ProfitLoss"
Install is successful if you can able to see "LodgeiT Smart Excel Utility" in the upper tab section.
2. Click "Mapper"
3. Choose Balance Sheet or Profit and Loss ( choose 1 for every Tab)
* Fill the template, you can copy and paste from other Excel sheet.
Make sure DATE is correct-
For Balance Sheet should be (AsAt)
For ProfitandLoss should be ( FromTo )
Note that you must add rows within the sections, but avoid adding columns in the spreadsheet.
Once you have encoded all the figures and description, proceed in Saving the Balance Sheet and Profit and Loss
4. Saving Balance Sheet and Profit and Loss
Saving the Balancesheet
Select "LodgeiT Standard" and choose "Standard Balance Sheet"
Copy and paste the ABN or TFN and input here for saving.
Alternatively, you may save it (or Cancel) using this process.
Double click the header "LodgeiT" to proceed , then click "Ok"
Choose file location, it will be save as XML file.
Saving the ProfitandLoss
Select "LodgeiT Standard" and choose "Profit and Loss"
Copy and paste the ABN or TFN and input here for saving.
Alternatively, you may save it (or Cancel) using this process.
Double click the header "LodgeiT" to proceed , then click "Ok"
Choose file location, it will be save as XML file.
BalanceSheet and Profitloss XML file are now ready for import in LodgeiT.
Make sure to drag or copy the file together for uploading.
Importing LodgeiT Smart Excel to LodgeiT
Go to LodgeiT "Financials"
Note: Choose a pair of ProfitAndLoss.xml and BalanceSheet.xml (where EndDate on Profit & Loss is same as date on Balance Sheet)
Import view in LodgeiT
Deleting Import
Just import over the top of the data again.New import will replace old import. There is a refresh data button on the Financials Tab next to the software type.
Removing the data - We tried to prevent this issue with a warning on the import screen about connecting the wrong data source since this is a current system limitation i.e. not being able to delete data.
Please send a printscreen showing Financial screen so we can see URL and tech team will need to dump the data in the backend.
Related article
Installation for Add-in issue : LodgeiT Smart Excel Utility
Unable to see "LodgeiT/LSU" tab in spreadsheet (LodgeiT Smart Excel Utility)