monthly income and expense template for excel

Because of this, it's easiest to split your expenses up into general categories. Odds are that there will be considerably more individual line item expenses than there are income items. Next, you need to input expense in the same way that you put in income. Recheck it to make sure that it matches the formula above.įill in expense titles.

If you receive an error message when entering the formula, this means that you have made an error in writing your formula.

Excel has many other functions that can be used to simplify calculations.

The SUM function in excel adds up the value contained within the specific cells, which can either be input individually (B2, B3, B4) or in a range (B2:B4).The whole formula should look something like this: =SUM(B3:B4). Alternately, you can type in the cell range by typing the first and last cells, separated by a colon, into the SUM function. In the example, this would be cells B3 to B4. Then, click the cell to the right of 'Net Pay' and drag down to the cell to right of your last income line item cell. In the cell directly to the right of that cell (B5 in the example), you need to create a formula to calculate total income. Create this cell in the next available cell underneath your last income line items (so, if you only have 'Net Pay' and 'Other Income,' this will be cell A5). When you've created cells for all of your types of income, you'll need one that totals up your monthly income.

Make a cell that calculates total monthly income.

Monthly income and expense template for excel