Amaka Ifebunandu (dexcelcoach)

Which of the following best explains why production is not equal to sales in a manufacturing budget?

4 days ago | [YT] | 1

Amaka Ifebunandu (dexcelcoach)

A company budgets sales of 300 units in January. Policy requires 10% of February sales to be held as closing inventory. February sales are forecast at 280 units.
What is the required closing inventory for January?

5 days ago | [YT] | 3

Amaka Ifebunandu (dexcelcoach)

Most budgeting errors do not start in Excel.
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They often begin with a limited understanding of how sales and production budgets interact.
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Consider the following simple example from my current Budgeting in Excel series.
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A manufacturing company produces Big, Medium, and Small luggage bags.
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For January:

Budgeted sales for Big bags = 300 units

Management requires 10% of next month’s sales as closing inventory

This means production is not equal to sales.

Production must cover:
✔ Budgeted sales
✔ Plus required closing inventory
✔ Minus opening inventory

If you miss this logic, every budget that follows will be wrong:

✔ Materials budget

✔ Labour budget

✔ Overhead budget

✔ Cash budget

That is why in my latest tutorials, I:

✔ Build the Sales Budget properly first

✔ Then show how the Production Budget is derived directly from it

✔ Use Excel formulas, not manual calculations

✔ Structure the model so that one change in assumptions updates everything automatically

This is not a theory.

This is how budgeting is done in real organisations.

If you work in:

✔ Finance or accounting

✔ Manufacturing or operations

✔ NGO or donor-funded projects

✔ Or you are a student preparing for management accounting

You need to understand this properly.

🎥 Sales Budget in Excel (Part 1) 👇
https://youtu.be/CcQmfBfIl3k?si=Wvc6X...

🎥 Production Budget in Excel (Part 2) 👇
https://youtu.be/N0Xwm6ERa8w?si=zKoCn...

Watch them now and re-watch before the next lesson drops.

#BudgetingInExcel
#SalesBudget
#ProductionBudget
#ExcelForAccountants
#ManagementAccounting
#FinanceProfessionals
#PracticalAccounting
#DexcelCoach

1 week ago | [YT] | 4

Amaka Ifebunandu (dexcelcoach)

Payroll Case Study: ₦6 Million Annual Salary under the New Nigeria Tax Law (2026)


One of the most effective ways to understand the New Nigeria Tax Law (effective January 1, 2026) is to see how it affects real payroll numbers.

Let’s walk through a simple payroll case study that I also demonstrate in my PAYE and Payroll Template tutorials.

Case Study Details:

Annual salary: ₦6,000,000

Employee is rent-paying and qualifies for maximum rent relief

Under the old tax law

Consolidated Relief Allowance (CRA):
20% of ₦6m (₦1.2m) + ₦200k = ₦1.4m

Taxable income = ₦6m − ₦1.4m = ₦4.6m

Annual PAYE = ₦896,000


Under the new tax law (2026)

CRA removed

Rent relief applied = ₦500,000 (maximum allowed)

Taxable income = ₦6m − ₦500k = ₦5.5m

Applying the new progressive tax bands:

First ₦800k @ 0% = ₦0

Next ₦2.2m @ 15% = ₦330,000

Remaining ₦2.5m @ 18% = ₦450,000

➡ Total PAYE = ₦780,000


Key Insight

Despite the taxable income appearing higher, the employee pays ₦116,000 less tax annually under the new law, resulting in a higher take-home pay.

This is exactly where many payroll errors occur:

CRA is still being applied

Incorrect use of new tax bands

PAYE figures not flowing correctly into payslips

How This Is Handled in Practice

In my PAYE video tutorial, I demonstrate how this computation is performed step-by-step in Excel using an automated Payroll Template specifically designed for the new tax law.

In the Payslip tutorial, I then show how:
✔ The computed PAYE
✔ Deductions
✔ Net pay

flow directly into a professionally formatted employee payslip without manual recalculation.

Why This Matters

Watching the videos and using the Payroll Template helps you:

✔ Understand the law beyond theory

✔ Apply it correctly in real payroll scenarios

✔ Reduce errors and compliance risks

If you handle payroll in Nigeria, case studies like this should be built into your payroll process, not guessed.

👉 PAYE Tutorial: https://youtu.be/ITTIBUKyMd0?si=-UR3Y...

👉 Payslip Tutorial: https://youtu.be/YoPjQKp8DVw?si=H8L4I...

👉 Payroll Template: Get the template here 👇
selar.com/payrollmanager
OR
selfany.com/payrollmanager

,

#payrollnigeria
#payenigeria
#newtaxlaw2026
#ExcelForPayroll
#HRNigeria
#accountingnigeria
#financeprofessionals
#dexcelcoach
#AccountingOnExcel

2 weeks ago | [YT] | 2

Amaka Ifebunandu (dexcelcoach)

📌 Payroll Update for 2026 (Nigeria)

If you handle payroll in Nigeria, you’ll need to update your process.

I have shared two connected tutorials that walk you through the full payroll cycle using Excel, all aligned with the New Nigeria Tax Law (2026):

▶ Video 1: How to compute PAYE using the new progressive tax bands
▶ Video 2: How to automatically generate employee payslips from the same payroll template

Together, these videos show how to:
✔ Compute PAYE correctly under the new tax law
✔ Calculate deductions and net pay automatically
✔ Generate professional employee payslips with minimal effort
✔ Reduce payroll errors and manual work

If you’re a payroll officer, HR professional, accountant, or business owner, this will help you stay accurate and compliant ahead of 2026.

👉 Watch both videos here:

PAYE Tutorial https://youtu.be/ITTIBUKyMd0?si=WSyvv...

Payslip Tutorial https://youtu.be/YoPjQKp8DVw?si=E_tCs...

Let me know in the comments which part of payroll you’d like me to cover next.

3 weeks ago (edited) | [YT] | 2

Amaka Ifebunandu (dexcelcoach)

Which PMT formula will give a slightly lower monthly payment because payments are due at the beginning of each month instead of the end?

5 months ago | [YT] | 3

Amaka Ifebunandu (dexcelcoach)

You took a car loan of ₦5,000,000 at an annual interest rate of 12% that you’ll repay monthly over 5 years. Which of the following formulas correctly calculates the monthly payment using Excel's PMT function (ignoring any future value and assuming payments due at the end of each month)?

5 months ago | [YT] | 2

Amaka Ifebunandu (dexcelcoach)

Which function combo gives you the last day of the current month?

5 months ago | [YT] | 3

Amaka Ifebunandu (dexcelcoach)

What’s the best way to calculate someone's age from their birthdate in Excel?

5 months ago | [YT] | 8

Amaka Ifebunandu (dexcelcoach)

If you input =DATE(2025, 0, 1), what will Excel return?

5 months ago | [YT] | 5