Calculate Debit Credit Running Balance Using Excel Formula (3 Examples)

Keeping a debit credit running balance of your checking and credit accounts is one of the most critical chores in personal finance, and spreadsheets are a popular tool for doing so. When recording a debit credit running balance or a running balance, the ancients may have committed certain math mistakes. As we allow Excel formulas to do the math for us, we may believe our current spreadsheets are vastly superior, yet we can run across other forms of errors instead. Today, in this article, I’ll show you four suitable and effective ways in which Excel can calculate the debit credit running balance formula with appropriate illustrations.

How to Perform Debit Credit Running Balance Formula in Excel: 3 Suitable Ways

Consider the following scenario, you have an account in a bank. You deposit the balance and withdraw the balance corresponding to your account from that bank which has been given in column C and column D. We’ll calculate the running balance by using Excel formulas such as SUM, OFFSET, and INDEX, functions. Here’s an overview of the dataset for today’s task.

1. Apply the SUM Function to Calculate Debit Credit Running Balance in Excel

From our dataset, we can calculate the debit credit running balance by using the SUM function. Excel debit credit running balance formula named the SUM function is the easiest and the most time-saving way. Please follow the instructions below to learn!

Step 1:

First of all, select cell E6 to calculate the debit credit running balance by using the SUM function.

After selecting cell E6, type the SUM function in the Formula Bar. The formula in the Formula Bar is,

=SUM(E5+C6-D6)

Hence, press Enter on your keyboard and you’ll get $109,958.00 as the return of the SUM function in cell E6.

Step 2:

After learning the above process, place your cursor on the bottom right of cell E6, and instantly an AutoFill Sign will appear in front of you, and drag the AutoFill Sign downward.

Finally, after dragging the AutoFill Sign downward, you will be able to calculate the debit credit running balance by using the SUM function from our dataset which has been given below screenshot.

2. Use of the OFFSET Function to Calculate Debit Credit Running Balance in Excel

The OFFSET function lets you generate a reference by giving the number of rows and columns that should be offset from a given reference. Here, we’ll apply the OFFSET function to calculate the running balance from our dataset. Let’s follow the steps.

Steps:

To apply the OFFSET function to calculate the debit running balance, select cell E6 first.

Now, type the SUM and OFFSET functions in the Formula Bar. You should type the OFFSET function inside the SUM function. The function is in the Formula Bar,

=SUM(C6,-D6,OFFSET(E6,-1,0))

Here, to refer to the past balance, we can use the current balance (E6) as a reference and offset rows and columns with -1 and 0.

After typing the functions in the Formula Bar, simply press Enter on your keyboard. After that, you will get $109,958.00 as the output of the functions in cell E6.

Now, AutoFill Sign the OFFSET function to the rest of the cells in column E, and you will get your desired output in column E which has been given below screenshot.

3. Merge the SUM and INDEX Functions to Calculate Debit Credit Running Balance in Excel

Last but not least, we will calculate the debit credit running balance by using the formula named SUM and INDEX functions. This is the easiest way to calculate the running balance by using Excel formulas. Please follow the steps to calculate the debit credit running balance!

Step 1:

For calculating the debit credit running balance by using Excel formulas, first select the cell array B4 to D14.

Now, from your Insert Tab, go to,

Insert → Tables → Table

By clicking on Table Menu, a window pops up titled Create Table.
Hence, press the OK button from the Create Table window, and you will be able to create a table with the header.

Step 2:

After creating the table, select cell E5.

Now, type the SUM and INDEX functions in cell E5. The functions are,

=SUM(INDEX([Credit],1):[@Credit]-INDEX([Debit],1):[@Debit])

Inside the sum function first INDEX function indexes the credit balance and the second INDEX function indexes the debit balance.

After typing the functions in cell E5, just press Enter on your keyboard and you will be able to calculate the debit credit running balance to the entire column which has been given below screenshot.

Things to Remember

👉 While applying the INDEX function, first create a table from the Insert Tab.

👉 You can also create a Table by pressing the Ctrl + T simultaneously on your keyboard.

Download Practice Workbook

Download this practice workbook to exercise while you are reading this article.

Debit Credit Running Balance.xlsx

Conclusion

I hope all of the suitable methods mentioned above to calculate the debit credit running balance will now provoke you to apply them in your Excel spreadsheets with more productivity. You are most welcome to feel free to comment if you have any questions or queries.

<< Go Back To How to Make Balance Sheet in Excel |Excel For Finance | Learn Excel

Get FREE Advanced Excel Exercises with Solutions!