Tutorial Playlist

Excel Tutorial

Overview

Your One-Stop Solution to Know About Excel Worksheets

Lesson - 1

Your One-Stop Solution For Excel UserForms

Lesson - 2

The Best Guide on How to Send an Email in Excel

Lesson - 3

Your One-Stop Solution That Will Help You Learn How to Convert PDF to Excel

Lesson - 4

A One-Stop Solution for Acing the Excel MIS Report

Lesson - 5

All You Need to Know About Barcode in Excel

Lesson - 6

Your One-Stop Solution to Learn Mail-Merge in Excel and Its Implementation

Lesson - 7

A Comprehensive Guide on Excel Flash Fill

Lesson - 8

Slicers in Excel: The Ultimate Guide to Help You Design and Develop Excel Slicers

Lesson - 9

One-Stop Solution to Learn Everything About Excel Budget Template

Lesson - 10

All You Need to Learn About Match Function in Excel and Its Real-Time Implementation

Lesson - 11

Everything You Need to Learn on How to Create a Pivot Table From Multiple Sheets

Lesson - 12

The Major Fundamentals About XLookUp in Excel Along With Practical Examples

Lesson - 13

The Ultimate Guide to Learn How to Compare Two Columns in Excel

Lesson - 14

The Best Guide and Your One-Stop Solution to Master the Fill Series in Excel

Lesson - 15

What Is the DATE Function in Excel and How to Implement It?

Lesson - 16

Your One-Stop Solution to Designing and Implementing Hyperlinks in Excel

Lesson - 17

One-Stop Solution to Master Everything You Need to Know About Auto-Sum in Excel

Lesson - 18

DAX in Excel: The Complete Guide for DAX Functions and Formulas in Excel

Lesson - 19

A Perfect Guide for All You Need to Know About Data Formatting in Excel

Lesson - 20

The Perfect Guide to Learn How to Add Columns in Excel

Lesson - 21
One-Stop Solution to Learn Everything About Excel Budget Template

Excel Budget Template is a smart solution to plan out your monthly, quarterly, or annual budget that could include everything you ever needed. It could be your monthly expenses against income, or savings, etc.

What Is Excel Budget Template?

In general, the Microsoft excel budget template is an excel sheet devised with simple mathematical and aggregation formulas that store data related to daily, weekly, monthly, quarterly, and annual budgets.

These budgets can either be personal or professional expenses-related data using which one estimates savings or revenues, respectively. To understand it better, you will devise an excel quarterly budget template in the next section.

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Excel Budget Template for a Quarterly Budget 

Let us assume that your monthly income is one lakh rupees, and you are completely unaware of your expenses and savings. You try to keep track of everything by noting it down on your dairies and note apps. Yet you miss out on noting a few of the expenses, or you find a lack of data organization. End of the day, everything gets so complicated that you end up being tangled with miscalculations.

So, this being the problem statement, devise a solution to it using Excel.

Start MS Excel and get started with a normal black worksheet.

The next step is to include the expense details of the current quarter that include January, February, and March.

Your data table includes all the details like:

Excel-Budget-Template-Description

  • Date of Purchase
  • Month
  • Year
  • Item Category
  • Item
  • Description of item
  • Payment Method
  • Income of the month
  • Amount debited
  • Running Balance

Once the columns are ready, fill in the data about all the expenses and modes of payment except for the running balance.

The quarterly data looks like shown below.

Excel-Budget-Template-Original.

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The next step is to select the table and convert the data into pure table format since excel stores all the data in the form of a database by default.

You can do that by selecting the data and pressing the shortcut “CTRL + T” or “Command + T”. Do not forget to check in the box that says “My table has headers”

Excel-Budget-Template-Convert.

Now, fill in the income details and calculate the running balance. Go ahead and fill the first cell of running balance with a value equivalent to the income as default.

In the next cell, write the following formula to calculate the running balance.

=SUM( Running Balance + [Income - Expense] ).

In this case, the formula looks as follows.

=SUM(J2+H3-I3)

Excel-Budget-Template-formula.

Now, you can copy the formula to all the cells to calculate the running balance throughout the first quarter. 

The formula will automatically calculate the running balance after the addition of income in the next month.

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You can also include a separate row for calculating the monthly income, debt, and monthly balance.

The final table would look like the image below.

Excel-Budget-Template-Final.

Now, with that, you have come to an end of the excel budget template tutorial.

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Wrapping Up

DAX in Excel can be your next step in learning data analytics. DAX in Excel could be helpful in learning the DATE-related functions offered by Excel and how to implement them in real-time in collaboration with budget plans and much more.

Interested to learn more about Business Analytics? Or wish to get trained and certified to become a successful Business Analyst? Then feel free to reach out to the Business Analytics certification course from Simplilearn. Ranked among the five topmost business analytics courses, this Simplilearn program is offered in partnership with Purdue University is an outcome-driven training and certification program that helps you master the fundamental concepts of statistics and data analytics. 

Have any questions for us on this tutorial on "Excel Budget Template"? If you do, or maybe you have doubts about our certification course, feel free to reach out to us. Our team of experts will be happy to assist you.

About the Author

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Simplilearn is one of the world’s leading providers of online training for Digital Marketing, Cloud Computing, Project Management, Data Science, IT, Software Development, and many other emerging technologies.

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