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I'm trying to build a personal balance sheet in Excel for my brother-in-law. Basically, so that we can monitor the hours he works against the hours he's paid.

He's paid every two weeks, one week later. For example:

Hours worked between 6th-13th April are paid on 20th April.

Rather than one neverending Excel workbook, I want to have one workbook per financial year. I'm trying to work out whether the paycheck for his last two weeks of last year should be in last year's workbook or at the beginning of this year's.

What's the typical way of managing this sort of thing?

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    what's his accounting basis? Cash basis or accrual?
    – littleadv
    Apr 20, 2012 at 19:49

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One's paycheck typically has a YTD (year to date) number that will end on the latest check of the year. I am paid bi-weekly, and my first 2012 check was for work 12/25 - 1/7. So, for my own balance sheet, brokerage statements and stock valuations end 12/31, but my pay ended 12/24. And then a new sheet starts.

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