This is our new money management template that will provide you almost all the functions like any basic money management and budgeting software. Normally, software is complex but this template is very easy to use and works like a software. This template is designed specially to manage your money.
Origin: This money management template originates by merging our budget planner, monthly budget, and checkbook register templates. You get the features of these entire templates but with remarkable modifications and up-gradations.
The worksheets of this template are error free but it doesn’t mean that are not prone to error. Your spreadsheet will get error accidently by yourself.
Free Money Management Template for Excel that allows you to track expenses and manage your budget. For this, download the Vertex42® Money Manager.
Create your yearly budget to project your expenses and income during the year. This helps to manage your irregular expenses for different seasons, like electricity and gas bills. It also manages your uneven incomes.
Record transactions for multiple accounts: You can manage transaction in multiple accounts using this template. You can manage all in one. These multiple accounts include Saving, Checking and Credit card accounts. It also manages the account that represents your wallet, cash or purse.
Balance your checkbook: There is a transaction history table includes a “cleared balance”. Cleared balance makes it easy for you to compare it with your bank statement. Enter the “R” reconciled and “c” cleared transaction in the “reconcile column” of the table. You can also enter the split transactions and transfers between accounts. You can display the transaction in one or more accounts using the in-built excel auto-filtering.
Track your monthly spending: Monthly budget report includes graphs, it compares budget v/s actual amounts, and the values are updated automatically as you enter transactions. For viewing the report for the different month, just change the year and month.
Track your yearly spending (Excel 2010 version only): (Update 9/2/201)
This spreadsheet is made for giving you more ease. I have added a new spreadsheet for the calculation of Income & Expense Report for an entire year grouped by month. This will helps you for creating the following year’s budget.
On the basis of money manager we have created a weekly budget template. It includes the transactions and the weekly report all on one spreadsheet.
10/10/2016 Update (XLSX version only): To edit the list of accounts and summarize the balances in each account, a separate “Accounts” spreadsheet was added. In transaction worksheet, a new “Tags” column was added. This tags column let you to add your own tags if you need. For example, the tag would allow you to filter or search for specific expenses that may cross over multiple categories i.e. a #CAR1 or #CAR2 tag for tracking expenses linked with a particular car.
5/16/2017 Update (XLSX version only): We have added a new “Goals worksheet” that helps you to track the balance of various savings and expense funds.
How to Use the Money Management Template
A detailed set of instructions and guidelines is given in the workbook itself. Please go through those instructions to use the worksheet more professionally and get the maximum benefit from these. It has very important tips, guidelines, and examples that make its use easier.
Customized Budget Categories
Customizing the budget category is a difficult task while you are using the Vertex42® Money Manager. Fortunately, you have to do this once with little bit of adjustments on yearly basis.
I will be the first to admit that the most complicated part of using the Vertex42® Money Manager is customizing the budget categories. Luckily, you only need to do this once with maybe a bit of tweaking each year. Necessarily, you just need to make sure that the categories are exactly the same in all worksheets.
What you require to watch out for: The expense would not show up in your reports If you assign a transaction to a category that is not present in the Budget or Report spreadsheets, and you will think that you have more money than you really do. With conditional formatting added in the spreadsheet, you can prevent these types of mistakes, but the spreadsheet is certainly not error-proof.
A detailed set of income and expense categories is included, so you can just try to use the default list if you are not so sure to use the customized categories.
Creating the yearly budget
I will write more on this subject in the future. For now, you can learn about creating a budget by reading online blog articles on budgeting or in any personal finance book etc. See the article “How to Make a Budget” and read through these 5 Budgeting Tips.
The second difficult section of the money management template is how to enter transactions into the transaction spreadsheet efficiently and correctly. If you have a good how know of how to insert, copy, and delete rows, it should be a piece of cake. It is very important to always copy entire rows (instead of inserting blank rows) so that you secure the formatting, data validation, and formulas that are both visible and present in hidden columns.
For recurring bills: Copying the rows for older transactions, and inserting the copied rows by changing the dates and amounts. A subset of rows is used for copying/pasting with the amounts left blank (so that these template rows do not affect the account balances).
Auto-filtering: you can use auto-filtering. For this, select the entire transactions table and then turn on Auto-filter. While reconciling, you may find it convenient to use filtering to display transactions for a single account at a time.
Can I import transactions from my bank?
Unfortunately, you can’t do this. The money management template is not quite that vast. In the future I also don’t have any plans to add the ability in this spreadsheet to automatically import transactions from your bank or other financial institution. There is no online connectivity in-built into the money manager. You may use other dedicated budget software if you want that kind of functionality.
Creating Virtual Sub-Accounts to Track Goals:
You may want to keep track, if you are saving up for a vacation, car purchase, down payment, or some other future goal. You want to know that how much money in your savings account is allocated to those specific goals.
Virtual Sub-Account is one of the best ways to do this. In this you are not actually creating areal sub-account. You can also create an account called “Vacation” or “Car” in the Accounts tab of the money management template. You can add a note or indent the description to the right of the table to remind you that it is a sub-account.
Although in reality you would be transferring money from your checking account to main savings account, but in the spreadsheet you record these savings allocations as transfers to the specific sub-accounts.
The tricky part of this is that at the time of reconciling the spreadsheet with bank statement, you need to remember that the total balance shown on the statement is the sum of the general account plus the sub-accounts.
Types Of Money Managment Templates in Excel Format
- Business Budget Template
- Rolling Business Budget and Forecast Template
- Profit and Loss Statement Template
- Expense Budget Template
- Budget Summary Report Template
- Cash Flow Budget Report Template
- Annual Operating Budget Services
- Annual Operating Budget Manufacturing
- Targeted Budgeting Tool
- Capital Budgeting Template
- Business Trip Budget Template
- Event Budget Template
- Training Budget Template
- Marketing Budget Template
- Channel Marketing Budget Template
Tracking Your Monthly Progress:
Keeping track of how your current spending compares to your budget is very important part of good money management. On a weekly or even daily basis you might check your budget status, but you should at least manage your money on a monthly basis.
You can use the “Report” spreadsheet to compare your budget to your actual spending throughout the month. By simply entering the month number you can change the month (1 for January, 2 for February, 3 for March and so on).
Starting a new file each year:
I have designed this money manager for yearly money management reports. So, start a new file with each starting year, and save the previous year file with tax documents.
Delete the old transactions of previous year and then add rows at the top of the transactions table to list the carry-over balances for each account for the New Year.
Tip: You can also want to save a subset of sample transactions so that you can remember what categories to use for common transactions. Leave the amounts blank so that they don’t affect the account balances for the sample transactions.
Sharing the Money Management Template:
You can also use our free Excel Template Money Manager and can also link to it from your blog or website. For this use the following URL:
This money management template is specially designed to manage your money more easily than any other software could do. It has almost all the functions of good software and might help you to keep budget of your yearly income.