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) | $ | Bus card | $ |
| Dog sitting | $ | Phone subscription | $ |
| Monthly allowance | $ | Food and snacks | $ |
|
|
| Clothes and shoes | $ |
|
|
| Entertainment | $ |
|
|
| Other | $ |
- 2.
- Your job is to enter these numbers in
Excel. Your spreadsheet should look like this: - 3.
- Add up the income, then add up the expenses, to see if Erica Clementine had a surplus or a deficit this month.
Erica had a surplus last month of $
Here are the formulas for each cell:
