Whitfield Interiors & Doors LLC
Closing Q1 2026 from raw documents to financial statements.
Goal
Close a full quarter by hand, with every number traceable
The goal was to take one small business through the full accounting cycle: from raw source documents to a Trial Balance, financial statements and a list of questions for the client. I wanted to show not just the result but how every number gets there.
Why Google Sheets and not QuickBooks
Every calculation is visible
In a spreadsheet each balance comes from a formula you can click and trace back to the journal entry and the source document. In accounting software most of that is hidden behind the interface.
The mechanics, not the buttons
Posting every entry through debits and credits by hand, like T-accounts, makes sure I understand what each transaction does to the books, rather than relying on the software to decide.
Schedules built from scratch
FIFO inventory and COGS, straight-line depreciation, loan amortization and payroll accruals were each calculated in their own schedule, so the adjusting entries can be checked line by line.
Easy to review
Anyone can open the link and check the work. No QuickBooks subscription or access to a company file is needed.
Errors don't hide
Without bank feed rules or auto-categorization nothing is posted silently. An unbalanced entry breaks the Trial Balance, and a wrong match shows up as an open vendor or customer balance.
The base for QuickBooks work
Knowing what the software does under the hood makes QuickBooks faster to use and easier to clean up. A follow-up project in QuickBooks Online is in progress.
The company
An interior design studio that also sells doors
Whitfield Interiors & Doors is a small studio in Texas. It designs residential and commercial interiors and resells interior and exterior doors with delivery and installation.
- Basis
- Accrual
- Inventory
- FIFO, periodic
- Depreciation
- Straight-line
- Financing
- 2 loans: business loan and truck loan
- Customer payments
- Bank transfers and paper checks
- Payroll
- Biweekly, run through a payroll service
- Built in
- Google Sheets: manual general ledger
What I received
A quarter of raw documents
The client handed over the source documents for January–March 2026.
Source documents
Vendor bills, customer invoices and credit memos
Bank transactions
Business checking statement for the quarter
Credit card statement
Business card charges and payoffs
Paper checks
Customer checks received before deposit
Payroll reports
Biweekly reports from the payroll service
Loan agreements
Business loan and truck loan
What I did
From raw documents to statements
Posted 70 source documents
Vendor bills, customer invoices and credit memos
Recorded the bank statement
77 transactions, matched to bills and invoices
Recorded the credit card statement
Charges only: payoffs were already in the bank
Recorded incoming checks
Through Undeposited Funds
Recorded payroll
From payroll service reports, accrued across month-ends
Adjusting entries
Prepaid expenses, depreciation, loan interest, FIFO COGS
Closed the quarter
Trial Balance, Balance Sheet, P&L, client request
Method
Every vendor and customer payment through A/P and A/R
Every vendor payment went through Accounts Payable and every customer payment through Accounts Receivable, even when there was no matching bill or invoice.
Once a bill meets its payment, the vendor balance nets to zero. The same goes for customers. Anything left over is a signal: a missing receipt, a short payment or a posting error.
That turns reconciliation into a simple check: scan the open balances by name. I used them to build the client request: 9 payments with missing receipts and the customers who still owe money.
Payroll, loans, the rent deposit, credit card payoffs and owner transactions went to their own accounts, since they are not vendor bills.
The tricky parts
Two places where it is easy to double-count
Credit card payoffs
A payoff shows up twice: as money leaving the bank and as money arriving on the card. I recorded it at the bank stage, so from the card statement I posted only the charges. Posting the payoff again would double it.
Paper checks
Checks go to Undeposited Funds first, not straight to the bank. One check arrived before its invoice was issued. That is a customer prepayment, so it went to Unearned Revenue, not A/R.
Results
Financial statements
Balance Sheet
As of 3/31/2026| Current Assets | |
| Bank 2201 | 142,432.39 |
| Undeposited funds | 5,431.22 |
| Accounts Receivable | 33,196.90 |
| Inventory | 972.00 |
| Prepaid Expenses | 38,792.20 |
| Total Current Assets | 220,824.71 |
| Noncurrent Assets | |
| Fixed Assets | 62,660.00 |
| Accumulated depreciation | (3,104.25) |
| Security Deposits | 3,500.00 |
| Total Noncurrent Assets | 63,055.75 |
| Total Assets | 283,880.46 |
| Current Liabilities | |
| Accounts Payable | 6,005.08 |
| Credit Card | – |
| Payroll Liabilities: Accrual Liabilities | 11,018.57 |
| Payroll Liabilities: Taxes Liabilities | 870.47 |
| Sales Tax Liability | 11,505.62 |
| Unearned Revenue | – |
| Total Current Liabilities | 29,399.74 |
| Noncurrent Liabilities | |
| Loans: Business Loan Liabilities | 49,669.31 |
| Loans: Truck Loan Liabilities | 35,259.91 |
| Total Noncurrent Liabilities | 84,929.22 |
| Total Liabilities | 114,328.96 |
| Owner's Equity | |
| Contribution | 225,000.00 |
| Distribution | (16,371.89) |
| Net Income (Q1) | (39,076.61) |
| Total Owner's Equity | 169,551.50 |
| Total Liabilities & Owner's Equity | 283,880.46 |
Income Statement
Q1 2026 (1/1/2026 – 3/31/2026)| Revenue | |
| Design Income | 80,604.00 |
| Doors Income | 58,858.00 |
| Net Revenue | 139,462.00 |
| COGS | |
| Cost of Goods Sold | 17,427.00 |
| Supplies COGS | 5,090.00 |
| Total COGS | 22,517.00 |
| Gross Profit (margin 83.85%) | 116,945.00 |
| Operating Expenses | |
| Bank Expenses | 30.00 |
| Business Insurance Expenses | 7,645.66 |
| Depreciation Expenses | 3,104.25 |
| Interest Expenses | 438.21 |
| IT Expenses: Hosting | 996.78 |
| IT Expenses: Internet | 254.61 |
| IT Expenses: Phone | 1,759.90 |
| IT Expenses: Subscriptions | 1,631.92 |
| Office Expenses: Food | 479.00 |
| Office Expenses: Fuel | 552.00 |
| Office Expenses: Maintenance | 78.90 |
| Office Expenses: Postage | 56.14 |
| Office Expenses: Supplies | 645.11 |
| Payroll Expenses: Accruals | 89,457.57 |
| Payroll Expenses: Subcontracts | 1,907.00 |
| Payroll Expenses: Taxes | 7,067.16 |
| Professional Fees: Lawyer | 4,520.30 |
| Promotion Expenses: Internet | 5,250.00 |
| Promotion Expenses: Marketing | 5,559.09 |
| Rent Expenses: Office | 10,930.86 |
| Rent Expenses: Storage | 11,151.15 |
| Travel Expenses | 2,250.00 |
| Truck Maintenance Expenses | 256.00 |
| Total Operating Expenses | 156,021.61 |
| Net Income (margin −28.02%) | (39,076.61) |
Client request
What I sent back to the client
Missing receipts or invoices
9 payments| HomePro Supply | Door installation parts | 1,530.00 |
| ShipRight Postal | Postage | 56.14 |
| QuickFix Appliance Repair | Coffee machine repair | 78.90 |
| Fresh Market Deli | Office food | 479.00 |
| QuickFuel Station | Fuel | 552.00 |
| Grand Plaza Hotel | Business trip: hotel | 1,500.00 |
| AeroVista Airlines | Business trip: airfare | 750.00 |
| RoadReady Truck Repair | Truck repair | 256.00 |
| City Office Mart | Office supplies | 629.51 |
| Total | 5,831.55 | |
Open customer balance
| Michael Grant | Invoice 1/29: 7,472.50 · paid 2/15: 7,350.00 | 122.50 due |
Deliverables
What's in the Google Sheets workbook
- General Journal across 6 sources
- Trial Balance
- Balance Sheet and Profit & Loss
- FIFO inventory and COGS schedule
- Depreciation schedule (straight-line)
- Loan amortization: interest vs principal
- Payroll accruals across month-ends
- Client request letter
See the full workbook
Every entry, schedule and statement is in the spreadsheet. Feedback from bookkeepers is welcome.