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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

1.
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.
2.
Input the amounts for each category.
3.
Sum your income, then sum your expenses.
4.
Lastly, calculate the actual surplus or deficit by subtracting expenses from income.

Example 1

1.
Erica Clementine has tallied up all of her income and expenses last month. They are as follows:





Income

Amount

Expenses

Amount





Bookstore (part time)

$300

Bus card

$68





Dog sitting

$60

Phone subscription

$39.90





Monthly allowance

$50

Food and snacks

$120





Clothes and shoes

$79.80





Entertainment

$32





Other

$60





2.
Your job is to enter these numbers in Excel. Your spreadsheet should look like this:

Spreadsheet in Excel presenting income and expenses

3.
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

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How to Create an Accounting Spreadsheet in Excel

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