Using QuickBooks, Excel & Wave Accounting

In this lesson you will

Build a spreadsheet cash book with checks
Describe accounting software features

Digital accounting tools reduce manual errors and save time compared to purely paper-based bookkeeping, and several good options are free or low-cost.

Microsoft Excel: Flexible and widely available — suitable for building custom bookkeeping logs, budgets, and simple financial reports.
Wave Accounting: Free accounting software designed for small businesses, covering invoicing, expense tracking, and basic reports.
QuickBooks: A more advanced, widely used paid accounting platform suited to growing businesses and organizations with more complex needs.
Start with the simplest tool that meets today's needs (often Excel or Wave) and move to more advanced tools only as complexity genuinely requires it.

Practical Skill: Set up a basic chart of accounts in Excel (or Wave, if accessible) and record a week of sample transactions using it.

TemplateBasic Chart of Accounts

Worksheet

=== BASIC CHART OF ACCOUNTS (Small Business) === INCOME  4000 - Sales Revenue  4100 - Service Revenue EXPENSES  5000 - Rent  5100 - Salaries & Wages  5200 - Supplies  5300 - Transport  5400 - Utilities (airtime, electricity) ASSETS  1000 - Cash on Hand  1100 - Mobile Money Balance  1200 - Inventory/Stock LIABILITIES  2000 - Loans Payable  2100 - Unpaid Bills

Practice exercise

Set up a chart of accounts and a spreadsheet cash book with a drop-down for account codes and a check cell that flags differences.

Key takeaways

A chart of accounts gives every account a code
Software automates statements and reconciliations
Back up and test your backups

In the full program Module 5: Digital Accounting Tools See how this topic is taught in depth, with practical activities and an assessment.

Free self-study lesson — no certificate. For the full instructor-led program, see registration options.