Colorful House of Math logo
Log in

How to Create an Accounting Spreadsheet in Excel

An accounting tells us about our actual income and expenses, in contrast to a Budget, which is a projection of those amounts.

Here is how you proceed when you are making a spreadsheet in Excel:

Excel Instruction

Making an Accounting Spreadsheet

Divide your various income and expenses into separate categories. These categories will depend on your sources of income (or the company’s). Often, you have already made a budget. Use the same categories as you used in the budget, plus any that were unexpected and you didn’t budget for.
Input the amounts for each category.
Sum your income, then sum your expenses.
Lastly, calculate the actual surplus or deficit by subtracting expenses from income.

Example 1

Erica Clementine has tallied up all of her income and expenses last month. They are as follows:





Bookstore (part time)


Bus card


Dog sitting


Phone subscription


Monthly allowance


Food and snacks


Clothes and shoes






Your job is to enter these numbers in Excel. Your spreadsheet should look like this:

Spreadsheet in Excel presenting income and expenses

Add up the income, then add up the expenses, to see if Erica Clementine had a surplus or a deficit this month.

Spreadsheet in Excel calculating surplus (or deficit)

Erica had a surplus last month of $10.30.

Here are the formulas for each cell:

Spreadsheet in Excel presenting formulas used for calculations

Want to know more?Sign UpIt's free!
White arrow pointing to the LeftPrevious entry
How to Create an Excel Budget
Next entryWhite arrow pointing to the right
Comparing Budget and Accounting in Excel

How to Create an Accounting Spreadsheet in Excel

Economy iconEconomyStatistics iconStatistics