Download the attachment and start entering your numbers. For the demo, we have entered a few numbers. It is the final result of income and expenditure. Now, enter the daily expenditure on the “Expenditure” list according to the headings formula, which will show the results in the result sheet.If the income is per the budget, a variance will be zero. Enter the monthly income in the “Actual” column according to the monthly earnings.Now, manually insert the income-expenditure numbers for all the months under the “Budget” column.Applying the SUMIFS function in Excel, we need to link the total expenses to a sheet.We are creating a dropdown list of expenses from the result sheet. Create a dropdown list in Excel for “Expenses Head” from the result sheet.To get a month, we need to put one formula: the TEXT formula. Now, we have the expenditure template ready.After inserting headings, create a table by pressing the shortcut keys “Ctrl + T.”.Create a format as per the below image in a new sheet. We need to create a template for capturing daily expenditure details. Apply a formula for the “Variance” column for all the months.Apply the SUM formula for total expenditure in cell C22.Now, apply a formula to capture variance.We must apply the SUM function in the C8 cell to capture the total income.For example, it could be from salary, house rent, or a loan on interest.Ĭreating this list in the Excel spreadsheet. First, we must not list the expenses but list the income sources.
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