ANSWERS: 2
  • The standard way of doing it would be to put accounts down the left side of the page in the rows, and dates (weeks, months or years) across the top of the page in columns. In the rows, start with Revenue at the top, then move to Expenses. Net profit (or loss) will be the final row at the bottom of the page. At the bottom of the Revenue, make a row called Total Revenue, and at the bottom of the Expenses make a row called Total Expense. Those rows should be summations of the rows above them. Then the Net Profit row will be Total Revenue minus Total Expense. For personal finances, the revenue would likely be your paycheck, and expenses would be mortgage, utilities, car payment, etc. You can then replicate each of the periods in the next column to account for additional accounting periods. Most people would use the month as an accounting period. If you have Excel, you probably have MS Office installed on your computer. Most versions of Office have MS Money included with them. It might be easier just to use that, unless you can be diligent with keeping your spreadsheets.
  • I can send you a budget templet complete with formulas if you give me your email address.

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