Balancing Your Bank Account Using Microsoft Excel
For many people across the world, balancing the checkbook can be a daunting and annoying task. Many people spend hours at the table or desk combing over the current month’s bank statement, frantically adding and subtracting dollar amounts on a calculator trying to balance their checkbooks to the proper penny, while others have spent money on commercially available software to help them balance their checkbook down to the penny. I have discovered a tool that many people have overlooked which will make balancing your checkbook significantly less stressful.
In order to keep an up to the limited total of your bank memoir balance, all you need is a computer with a spreadsheet application, such as Microsoft Excel installed. You also need to know how to exhaust basic functions in Excel such as addition and subtraction.
To balance your checkbook using Microsoft Excel, commence a blank spreadsheet in Microsoft Excel. Note the appropriate columns in Excel for descriptions of the transaction, such as payment for credit card, phone bills, insurance premium, shopping, and any other deductions from your banking account. The simplest blueprint to balance your checkbook using excel is to enter the amounts of each transaction, and add or subtract the amounts of each transaction where appropriate. Depending on the type of transaction, such as deposit, external deposit, automatic draft, or debit, you will either add or subtract the amount you enter for each transaction. Once you have entered all the numbers, you can use the Microsoft Excel Formula toolbar to perform the helpful mathematical operation, usually addition or subtraction. Once you have done all the math and gotten an up to date balance on your accounts, save the excel spreadsheet on your computer, as well as an external storage media.
One of the best advantages in using Microsoft Excel to balance your checkbook is that you don’t have to wait until your monthly banking statement becomes available either through the mail or online in order to balance your bank account. You don’t even need to maintain your checkbook register. When you spend money to pay your bills, buy groceries, clothing, and other items, you are given a receipt. Each time you are given a receipt, keep the receipt. After you have returned home from shopping, paying bills, etc simply take the receipts from your purse, handbag, or wallet and sit down in front of the computer with your opened Excel banking spreadsheet. Enter the amounts for all the purchases and credits. You then have an up to date banking balance.
Balancing my bank chronicle used to be something of a daunting task until I decided to use my knowledge of Microsoft Excel to my advantage.
Related Posts
Filed under Help Desk Software by on Jan 17th, 2012. 