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Trail your incomes and expenses worksheet
Income and expenses are trialed to manage the money and to keep records. Earlier calculators were used and the results were managed on a register then with the evolution of different software, record keeping has become easier. The world is moving a step forward. I have pattern this worksheet related to the management of everyday income and expense. It can be used as introductory finance course as well as it is editable. There are many other spreadsheets that can be useful for managing budget but if you want to make things simpler it would be the best one in this regard.
This worksheet is useful for single entity business as well as covers wide and large business budget management. It will be helpful for every business sector. It manages day to day business income and expenses. It is very beneficial for accounts department of a company. It can help a person who has to manage income from different sources. This worksheet is very simple and free of complexities so that you don’t require particular experience to work with it.
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You can simply edit this worksheet add your data according to your needs and it will give you the results.
This work sheet doesn’t work like an account register but if you are cosy with excel you could use a Pivot Table for analyzing your income and expenses.
Step 1: Sample data and formulas.
The worksheet is made for you comfort so there is sample data in the worksheet for understanding. For your use, you have to clear the sample data and your data in the worksheet.
Do not clear the formulas as these formulas will generate results according to the entered data.
Saving you from confusion, in this worksheet you can make new worksheet for other accounts.
Step 2: Enter beginning balances for the accounts you want to trail.
This is not compulsory to enter beginning balances but it is up to you that you want to keep record of each account or not. This is hidden column that you can unhide but it’s up to you. This will show your current account balance.
Step 3: Edit account and categories as needed.
Categories lists control that what is to be shown in the drop down list of each and every column the use of drop down list is not compulsory it depends on your requirement.
To take a start you can use just a few expense categories and at advance level you might want to try the Money Management Template.
Step 4: Update the worksheet with great ease.
You can easily update the worksheet on daily basis as it is easy to edit in your cell phone or keep it with as a piece of printed paper.
Another way is to keep record on 3×5 card or keep as notes in your cell phone and update at home in free time.
Step 5: Create a pivot table.
Following image is an example of the type of report you can create using a pivot table in excel.
Pivot table is one of Excel’s most powerful features. A pivot table allows you to easily draw out the significance from a large, detailed data set.
This worksheet is for every single person who wants to keep record of his balances and also it is helpful for large businesses where it is used for the quick review of income and expenses. It gives you a glance review of all the expenses made and income received for the time period you have managed it.
