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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