How to Use Excel to Balance Your Checkbook

Microsoft Excel is a great tool that can be used for a variety of purposes, including expense reports, inventory, and balancing your check book.  Instead of recording every transaction you make long hand and then doing the math to balance your checkbook, use Excel to do it for you.  You will save time by not having to keep track of your notes in a tiny checkbook and can prevent math errors.

 To get started, you will want to open a new workbook in Excel and make a few column headers.  You will want to include columns for the date, type of transaction, place of transaction, the amount, and a description so you have more detailed records.  Then, start to fill in your recent transactions and the starting amount of money in your checkbook.  Use the “sum” function to add up multiple boxes to accurately determine the total amount left in your checkbook.  You can even get fancy and create graphs for your expenses to visually represent what you have been spending your money on.

Excel is a versatile tool that can be used for many applications in place of more expensive solutions.  Microsoft Excel has functions that allows for quick statistical analysis of any type of data, making it ideal for everything from small businesses to everyday tasks.  Once you have set up a workbook, it is simple to add one or two numbers on a regular basis and all totals will be automatically updated.  You will never have to do math every time you add a new number and the final reports can be easily printed.  When you would like to print a final version of your record, it is simple to generate a professional looking report with the push of a button.  The addition of graphs can help determine trends over time and better improve your financial record keeping.



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