This a great budget. I took the challenge of a monthly budget indicator. I made a column next to the annual budget for my monthly budget adding up a total monthly budget at the bottom. Below each month I made a budget compare row where I subtracted the monthly budget from the sum of the actuals. Then below that I made a sparkline chart for win loss. =sparkline(L29,{"charttype","winloss";"color","green";"negcolor","red"}) L29 is the budget compare number. If it is negative you are over budget and the chart shows red. If you are in budget the chart shows green. Copy for each month.
I like your opening: "What gets measured, gets improved." That is so true!!! Your Finance/Budget sheet is super clean and tidy. I've been working with Excel, and it has made a huge difference. I just found your video and subscribed to your channel. I followed your video to create a sheet and it worked perfectly! Although I figured out, I need to add multiple dependent lists because I have ten main categories which I further break down within each category. However that made a huge drop down list. I was able to add a column with Catagory and one with Line Items the drop downs work, but I am not sure how to link them all up. I've watched other videos, and they just confused me. What I really liked about your sheet is how you have all your accounts running in one sheet! I hope that you will post more videos like this. Thank you for the awesome video. Have a great day!!! :)
Extra little trick, you can use =TEXT(B4,"mmmm") so the month is automatically selected from the date for you. This is a great SIMPLE video for most of us though, thank you for taking the time.
I appreciate you taking the time to make this video, I spend a few hours Pausing & & going back step by step to make a duplicate of this spreadsheet. I learned a lot. Thank You
Great content here! We use Excel right now for our budgeting and goals finance sheets, but we are slowly making the transition to google spreadsheets. I appreciate you showing the two. I also appreciate your insight that you are a little hesitant having personal finance info on an app; I never thought of it like that but it makes sense to use the spreadsheet instead of the app. Keep this important content coming! Subscriber #533 here!
I have a question, when you do a credit card payment the cash flow of credit and debit for category cc payment cancels out the amount. so, how do we show that in expense category for each month?
thank you so much for your amazing work. I can't really thank you enough for what u have provided for us. I think u need to add donation button so we can support u. u the best ❤
Thanks for this, I enjoyed the tutorial. My spreadsheet was getting crazy. My question is what do you do next month? Do you make a new sheet each month? How do you keep the expense data each month? Also, would you record your investment and 401k accounts here as well or separately on another sheet? Currently II have it all on one and it's getting out of hand.
Bethany. I'm an accountant as well. But also a freelance solopreneur. This is a beautiful way to track your monthly personal finances and also if you run a small freelancing practice. But honestly, there's a better way with a simple small adjustment. We're gonna kill seven birds with one stone. Imagine what it'd feel like if.. You had.. 1) Cleaner data 2) You won't have a long list of expenses 3) You don't have to redo the over budget formula 4) You don't have to redo the chart 5) And if you want to reconcile from the bank month to month you can, cause I'd go nuts if I had to reconcile a full years worth of bank statements anyway lol 6) And if you get a little more advanced with excel, you can create an EOY (end of year sheet) that takes from all your monthly sheets so you have an annual summary 7) Now you can delete column A and redo the sumifs and you have less friction to add transactions during your day to day What I did was just lay it out monthly rather than annually (to fix your problem) and create a new sheet for every new month during my monthly review much like I track my weekly/monthly caloric intake. Simply just have one template you can duplicate over and over. BAM. At the end of the year just create a whole new spreadsheet and start over with your annual review. If you don't do journaling or monthly reviews look into Getting Things Done by David Allen, they are paramount to success.
OK. A year of using this great spreadsheet. I have been entering transactions but it doesnt populate into the yearlong sheet When I copy my formula I get the same amount in each cell? Please help me! I have had to make a new formula for each category/account. sad face
hi, thanks for this. but for some reason the sumifs formula doesnt work for me. its does not populate the other cells even though i locked the cell. do you have any idea why?
I got through most of the SUMIFS thing, but then when I was done I got an error message. I don't know how to exit the cell properly after putting in the formula without getting an error message.
I was hoping you would have done a sheet that moved a csv file in. I like to know what im spending my money on i just don't want to be updating the thing daily.
14:38 How can you make these alternating colors in Excel? Can't find a simple way to do it. EDIT: Nevermind. You can do it by highlighting the data then pressing CTRL + T to make it a table
16:29 I am from Colombia and I use Google sheet setted up to work in Spanish. The translation to the formula =sumifs is deferent to what you are showing that happens. Could you please help me around this one? Thanks!
Shouldn't you have sum up the beg. balance with the months @17:24 bcuz that is what will reflect in our account. or am i understanding it wrong what ending balance is. pls do answer if it was a mistake or i didn't get it.
yes, that's also what he said, he's adding the beginning balance and all of the months. Him not adding the beginning balance in the video is very likely a mistake he overlooked
In accounting, Debits and Credits aren't always what they seem to be. For example, a Credit transaction can increase the balance of some entries (called "accounts") and decrease the balance of others. Same for Debit transactions. The reason accountants do this is sensible, but it will drive you crazy if you're not familiar with the process. It's not something you can decipher yourself, you have to be taught how to read and write double-entry accounting. It's also not something that's really important for personal bookkeeping, so I wouldn't think about it took much. Focus instead on the general lesson being taught here and apply the methods in ways that make sense to you. Good luck!
This is the second tutorial of this type that i try to follow up, but my Google Sheets behaviour differs from that in the video. Foe example: On the first formula i type in (=sumifs(H:H,A:A,L1,E:E,J2)) i get '0' and have the same data as the dude from the video wtf how could web app work different for different users !?!?!?!
In accounting, the debit side is the left side of the account. Cash is an asset account and asset accounts increase on the left (debit) side and decreases occur on the right (credit) side of the account.
It's best to write down the formulas and also note the alpha-numerical cell references where these "sumif" and "sum" formulas are supposed to be inserted to, and if you start this spreadsheet in column B Row 2, then your "sumifs" will be inserted in the next column and row cell from the one shown in the video. You'll need to go through the video several times to grasp how everything comes together. This is the best approach. Listen to the commentary carefully and pay attention to the actions in detail, you need an eye for detail, if you need this spreadsheet to work. You could also take a transcript from the video's audio track with an app that converts the audio track to text.
i liked many things about this video but you lost me when you said Paycheck is Debit, when i get salary the bank message says "money credited to your acccount" and not Debited
I did it all but I I goofed at 16:55 I anchored all the columns and rows but I should not have, I had $L$1 but it should have been L$1 just the one $ anchoring the 1st row.
@@ronizulufineartworks - I agree. I had to slow it down, and even then I got confused. This should be "dumbed down" a bit for people who aren't familiar with these programs.
I got to populate the accounts section but i cant seem to populate categories section 😅 I wonder why... Can you please post your template in the description please 🥹
This a great budget. I took the challenge of a monthly budget indicator. I made a column next to the annual budget for my monthly budget adding up a total monthly budget at the bottom. Below each month I made a budget compare row where I subtracted the monthly budget from the sum of the actuals. Then below that I made a sparkline chart for win loss.
=sparkline(L29,{"charttype","winloss";"color","green";"negcolor","red"})
L29 is the budget compare number. If it is negative you are over budget and the chart shows red. If you are in budget the chart shows green. Copy for each month.
This is exactly what I'm looking for. Thank you, now I just have to follow how you set this up.
I like your opening: "What gets measured, gets improved." That is so true!!! Your Finance/Budget sheet is super clean and tidy. I've been working with Excel, and it has made a huge difference. I just found your video and subscribed to your channel. I followed your video to create a sheet and it worked perfectly!
Although I figured out, I need to add multiple dependent lists because I have ten main categories which I further break down within each category. However that made a huge drop down list. I was able to add a column with Catagory and one with Line Items the drop downs work, but I am not sure how to link them all up. I've watched other videos, and they just confused me.
What I really liked about your sheet is how you have all your accounts running in one sheet! I hope that you will post more videos like this. Thank you for the awesome video. Have a great day!!! :)
Extra little trick, you can use =TEXT(B4,"mmmm") so the month is automatically selected from the date for you. This is a great SIMPLE video for most of us though, thank you for taking the time.
you are my hero!!! no joke - I didn't know how to track my budgets before and you saved my life!!!
Ill watch your video over and over until I can put my budget together. Thanks so much!
Wait a minute, debit means you are deducting from the account and credit means that you are adding to the account.
So why are you doing it backwards?
The money deposited into your checking account is a debit to you (an increase in an asset)
And an increase in a Liability account is a credit.
I appreciate you taking the time to make this video, I spend a few hours Pausing & & going back step by step to make a duplicate of this spreadsheet. I learned a lot. Thank You
Life saver!! Thank you so much for this! I needed it
Excellent video... Thanks for including banking & credit cards.
Thank you so much! I loved how you showed your formulas so it was so easy.
This video is so helping and so easy to follow. Thank you so much!!
This is amazing, thank you so much for making this, would it be possible to have access to an example file. It'd be extremely useful!
Thanks
Super helpful! Thank you, I followed all the steps and looking forward to better financial understanding.
Thanks! Great budget template and tutorial.
This is amazing. Building this step by step is incredibly helpful thank you!
Nice tutorial. Very helpful! I'm so happy I have made a new cashflow system ! Thank you!
Great content here! We use Excel right now for our budgeting and goals finance sheets, but we are slowly making the transition to google spreadsheets. I appreciate you showing the two. I also appreciate your insight that you are a little hesitant having personal finance info on an app; I never thought of it like that but it makes sense to use the spreadsheet instead of the app. Keep this important content coming! Subscriber #533 here!
Thanks! Glad it was helpful.
@@cpaexplains1287 Looking forward to following your channel!
Me again. I got it! I anchored my cells correctly! I copied what you anchored.
awesome job, thanks from Indonesia❤
Finally I found really helpful tutorial. Thank you for your work!
Thanks, this is very well explained.
Simple and easy to understand and follow. Superb.
This was truly helpful. Thank you for taking the time to do so.
I have a question, when you do a credit card payment the cash flow of credit and debit for category cc payment cancels out the amount. so, how do we show that in expense category for each month?
You are the best. So simply so easy so useful. You are awesome.
Amazing! the best I have seen, please keep uploding, we need the one you use to track financial investments :)
By far the best video I have seen on this yet! keep up the good work
thank you so much for your amazing work. I can't really thank you enough for what u have provided for us. I think u need to add donation button so we can support u. u the best ❤
What happens when a new year rolls around? Will I need to do a "start over"?
Thanks for this, I enjoyed the tutorial. My spreadsheet was getting crazy. My question is what do you do next month? Do you make a new sheet each month? How do you keep the expense data each month?
Also, would you record your investment and 401k accounts here as well or separately on another sheet? Currently II have it all on one and it's getting out of hand.
okay want to know if you offer a free spreadsheet to copy as you go way too fast for the sum ifs sections
What do you do when your expenses on the left hand side have gotten way too long? Do you copy the spreadsheet into a new tab and start fresh?
tag me when you get answer
Put the table on another sheet. Them just hide the previous months so you dont have to scroll down
would be perfect if there was some sort of option to expand/collapse the transactions of every month
Bethany. I'm an accountant as well. But also a freelance solopreneur.
This is a beautiful way to track your monthly personal finances and also if you run a small freelancing practice.
But honestly, there's a better way with a simple small adjustment. We're gonna kill seven birds with one stone.
Imagine what it'd feel like if..
You had..
1) Cleaner data
2) You won't have a long list of expenses
3) You don't have to redo the over budget formula
4) You don't have to redo the chart
5) And if you want to reconcile from the bank month to month you can, cause I'd go nuts if I had to reconcile a full years worth of bank statements anyway lol
6) And if you get a little more advanced with excel, you can create an EOY (end of year sheet) that takes from all your monthly sheets so you have an annual summary
7) Now you can delete column A and redo the sumifs and you have less friction to add transactions during your day to day
What I did was just lay it out monthly rather than annually (to fix your problem) and create a new sheet for every new month during my monthly review much like I track my weekly/monthly caloric intake. Simply just have one template you can duplicate over and over.
BAM.
At the end of the year just create a whole new spreadsheet and start over with your annual review. If you don't do journaling or monthly reviews look into Getting Things Done by David Allen, they are paramount to success.
This is the system i have been looking for. Thank you!!
Don't think I'm not aware...
Very helpful and well explained, thank you so much :)
OK. A year of using this great spreadsheet. I have been entering transactions but it doesnt populate into the yearlong sheet
When I copy my formula I get the same amount in each cell? Please help me!
I have had to make a new formula for each category/account. sad face
hi, thanks for this. but for some reason the sumifs formula doesnt work for me. its does not populate the other cells even though i locked the cell. do you have any idea why?
Slow the video down and watch how he does it. $ in between the letters
@@Hesed6 I tried that, didn't work for me. Thanks though
Yeah I get an array error message.
Thank You...Done perfectly.
I got through most of the SUMIFS thing, but then when I was done I got an error message. I don't know how to exit the cell properly after putting in the formula without getting an error message.
Thank you, this was very helpful.
I was hoping you would have done a sheet that moved a csv file in. I like to know what im spending my money on i just don't want to be updating the thing daily.
God bless you for making this video
14:38 How can you make these alternating colors in Excel? Can't find a simple way to do it.
EDIT: Nevermind. You can do it by highlighting the data then pressing CTRL + T to make it a table
wow! that was fast and easy lol but I'm bit of scared with the sumifs formula lol
Super helpful! Thank you!
Thank you for the great content, this is perfect for me :D
salaries or income supposed to be Debit right? sorry I'm just new with accounting haha
excellent thank you
Amazing. Great content. Could you please share the file.
Please kindly share the file sir thank you very much
I just tried to use the SUMIFS formula with all parameters, but I got an error message. Somebody else?
16:29 I am from Colombia and I use Google sheet setted up to work in Spanish. The translation to the formula =sumifs is deferent to what you are showing that happens. Could you please help me around this one? Thanks!
Also, if you have a link to make a copy of the whole sheet would be highly appreciated!
Shouldn't you have sum up the beg. balance with the months @17:24 bcuz that is what will reflect in our account. or am i understanding it wrong what ending balance is. pls do answer if it was a mistake or i didn't get it.
I also don't get it :/
@@kandelabcn I also dont get it smh
yes, that's also what he said, he's adding the beginning balance and all of the months. Him not adding the beginning balance in the video is very likely a mistake he overlooked
The sumifs formula did not work on my test sheet I followed exactly your formula.
In 14:55 you have put Salary in Debit Column and Expenses in Credit Column, can you please explain me the thought process or reason in doing so
In accounting, Debits and Credits aren't always what they seem to be. For example, a Credit transaction can increase the balance of some entries (called "accounts") and decrease the balance of others. Same for Debit transactions.
The reason accountants do this is sensible, but it will drive you crazy if you're not familiar with the process. It's not something you can decipher yourself, you have to be taught how to read and write double-entry accounting.
It's also not something that's really important for personal bookkeeping, so I wouldn't think about it took much. Focus instead on the general lesson being taught here and apply the methods in ways that make sense to you. Good luck!
Please create a video of how to add grants and fringe rates on google sheets.
Great insight and the content is well explained. How do i access the draft sheet? Can you please share this sheet? Thanks
This is the second tutorial of this type that i try to follow up, but my Google Sheets behaviour differs from that in the video. Foe example: On the first formula i type in (=sumifs(H:H,A:A,L1,E:E,J2)) i get '0' and have the same data as the dude from the video wtf how could web app work different for different users !?!?!?!
why do you write expenses on the credit column and incomes on the debit column, i dont understand that.
In accounting, the debit side is the left side of the account. Cash is an asset account and asset accounts increase on the left (debit) side and decreases occur on the right (credit) side of the account.
Top work! 😀
This is very good. The transaction table is going to get rather long over a year. How would to this by having a tab per month of transaction?
It's best to write down the formulas and also note the alpha-numerical cell references where these "sumif" and "sum" formulas are supposed to be inserted to, and if you start this spreadsheet in column B Row 2, then your "sumifs" will be inserted in the next column and row cell from the one shown in the video. You'll need to go through the video several times to grasp how everything comes together. This is the best approach. Listen to the commentary carefully and pay attention to the actions in detail, you need an eye for detail, if you need this spreadsheet to work. You could also take a transcript from the video's audio track with an app that converts the audio track to text.
Is this better than using quickbooks? Looks like maybe it is simpler? Please advise. Thanks.
Do you offer services?
I just watched this tutorial I find it very helpful but what do I put when I want to do a bank transfer tho?
Is it just me who got confused with the anchor Part and couldn't see it?
i liked many things about this video but you lost me when you said Paycheck is Debit, when i get salary the bank message says "money credited to your acccount" and not Debited
How can download? File
How to download file
I did it all but I I goofed at 16:55 I anchored all the columns and rows but I should not have, I had $L$1 but it should have been L$1 just the one $ anchoring the 1st row.
can you please share our excel?
pl share this file
Pl share file
all my moneys goes to restaurants and eating out.
Nothing simple about this.
@@ronizulufineartworks - I agree. I had to slow it down, and even then I got confused. This should be "dumbed down" a bit for people who aren't familiar with these programs.
Goggle sheets is an app, and we know Google is collecting all your information
Not helpful
I got to populate the accounts section but i cant seem to populate categories section 😅 I wonder why...
Can you please post your template in the description please 🥹