Keeping a 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 running total 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, Iâ€™ll show you four suitable ways by which you can learn how to calculate the running balance by using the Excel running balance formula effectively with appropriate illustrations.

**Table of Contents**Expand

**Use Running Balance Formula in Excel: ****4 Suitable Ways**

Consider the following scenario, you have an account in aÂ 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. Weâ€™ll calculate the running balance by using the Excel formulas named **SUM **function, **OFFSET **function, **INDEX **function, and **SUMIF **function. Hereâ€™s an overview of the dataset for todayâ€™s task.

**1. Use of the SUM Function to Calculate Running Balance in Excel**

In this method, from our dataset, we can calculate the running balance by using **the SUM function**. Please follow the instructions below to learn!

**Step 1:**

- First of all, select
**cell E5**.

- After selecting
**cell E5**, type the**SUM**function in the**Formula Bar**. The formula in the**Formula Bar**is,

`=SUM(C5-D5)`

- Now, press
**Enter**on your keyboard and youâ€™ll get**$15,828.00**as the return of the**SUM**function in**cell E5**.

- Further, again, select cell
**E6**to calculate the running balance by using the**SUM**function.

**Step 2:**

- In the
**Formula Bar,**type the**SUM**function to calculate the running balance. The**SUM**function in the**Formula Bar**is,

`=SUM(C6-D6+E5)`

- After that, again, press
**Enter**on your keyboard and youâ€™ll get**$43,054.00**as the output of the**SUM**function in**cell E6**.

- 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 running balance by using the**SUM**function from our dataset which has been given below screenshot.

**Read More: **How to Keep a Running Balance in Excel

**2. Apply the OFFSET Function to Calculate 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, weâ€™ll apply the **OFFSET **function to calculate the running balance from our dataset. Letâ€™s follow the steps.

**Steps:**

- To apply the
**OFFSET**function to calculate the running balance, select**cell E6.**

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

`=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**$43,054.00**as the output of the functions in cell**E6.**

- Now, place your cursor on the Bottom-Right of
**cell E6**, and an**AutoFill**Sign pops up, and drag the**AutoFill**Sign downward. - After dragging the
**AutoFill**Sign downward, you can get the running balance by using the**OFFSET**function from our dataset which has been given below screenshot.

**Read More: **Calculate Debit Credit Running Balance Using Excel Formula

**3. Perform the SUM and INDEX Functions to Calculate Running Balance in Excel**

In this method, we will apply the **SUM** and **INDEX** functions to calculate the running balance. This is the easiest way to calculate the running balance by using Excel formulas. Please follow the steps to learn!

**Step 1:**

- For calculating the running balance by using Excel formulas, first select the cell array
**B4**to**D13.**

- Now, from your
**Insert**Tab, go to,

**Insert â†’ Tables â†’ Table**

- By clicking on
**Table**Menu, a window pops up titled**Create Table.**

- Now, press the
**OK**button from the**Create Table**

**Step 2:**

- After creating the table, select
**cell D5.**

- Now, type the
**SUM**and**INDEX**functions in**cell D5.**The functions are,

`=SUM(INDEX([Sale],1):[@Sale])`

- After typing the functions in
**cell D5**, just press**Enter**on your keyboard and you will be able to calculate the running balance to the entire column which has been given below screenshot.

**Read More: **Debit Credit Balance Sheet with Excel Formula

**4. Apply the SUMIF Function to Calculate Running Balance in Excel**

So far Weâ€™ve seen situations where we calculated the running total for all of the values in a column. However, there may be cases when you need to calculate the running total for a specific set of records. For example, in the screenshot below, I have a data collection for which I want to calculate the running balance for PC and Mobile in two separate columns **E **and **F**. **The SUMIF function** is one of the Excel running balance formulas. Letâ€™s follow the instructions below.

**Step 1:**

- For inserting the
**SUMIF**function in Excel to calculate the running balance, first, select cell**E5**.

- Now, write down the formula in cell
**E5**.

`=SUMIF($C$5:C5, $E$4, $D$5:D5)`

- After typing the
**SUMIF**function in cell**E5**, simply press**Enter**on your keyboard and you will be able to get**$35,999.00**for the running balance of the PC as the return of the**SUMIF**function.

- Now, place your cursor on the Bottom-Right on
**cell E5**, and an**AutoFill**Sign pops up, and drag it downward. - After dragging the
**AutoFill**Sign, youâ€™ll be able to calculate the running balance for the PC.

**Step 2:**

- After calculating the running balance for PC, we want to calculate the running balance for Mobile. For that, select
**cell F5**.

- After selecting
**cell F5**, type the**SUMIF**function in that cell. The formula is,

`=SUMIF($C$5:C5, $F$4, $D$5:D5)`

- Now, press
**Enter**on your keyboard and you will be able to get $- for the running balance of Mobile as the return of the**SUMIF**function. Look at the output of the function, the output is blank because there is no sale for the first date.

- After pressing
**Enter**, place your cursor on the Bottom-Right on**cell F5**, and instantly an**AutoFill**Sign will appear in front of you, and drag it downward. - While dragging the
**AutoFill**Sign, youâ€™ll be able to calculate the running balance for Mobile.

**Things to Remember**

ðŸ‘‰ While applying the **INDEX **function, first create a table from the **Insert Tab**.

**Download Practice Workbook**

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

**Conclusion**

I hope all of the suitable methods mentioned above to calculate running balance by using the Excel running balance formula 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.

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