How to Make Monthly Expenses Sheet in Excel (With Easy Steps)

People use Excel for many different reasons. We can store important information there. You can also create various useful templates in Excel worksheets. It’ll be beneficial if we can make an Expenses Sheet in Excel. Because it’s essential to track our monthly expenses. In that way, we can have a precise knowledge of our spending. But, creating a tracker may seem a hassle. And you may not know what exactly you should input there. We’ll make it easier for you. In this article, we’ll show you the step-by-step procedures to Make a Monthly Expenses Sheet in Excel.

How to Make Monthly Expenses Sheet in Excel: Step-by-Step Procedures

Excel helps us to store different information and perform various tasks. In our daily lives, we have to purchase our necessary things. Again, there are some monthly bills and payments. Some of them are fixed, while others vary upon usage. A monthly expenses sheet can come in handy to track all those records effortlessly. But, you may have doubts about what to input there. So, making a tracker may seem complicated. Don’t worry. We’ll keep it easier for you. Therefore, go through the following steps carefully to Make a Monthly Expenses Sheet in Excel.

STEP 1: Prepare Excel Workbook

  • First, open a blank Excel workbook.
  • Then, give a clear heading of what this file is about.
  • After that, type the Month names.
  • See the below image for a better understanding.
  • Save the file.

STEP 2: Set up Income Section

  • Now, input the income sources.
  • Here, we will place the Salary We’ll consider a fixed monthly salary in this example.
  • You can input any other sources of income.

STEP 3: Insert Excel SUM Function to Compute Annual Income

  • Next, we’ll insert the SUM function to total the Salary.
  • For that purpose, select cell O6.
  • Type the formula:
  • Subsequently, press Enter.
  • It’ll return the sum of the 12 months’ income.

STEP 4: Make Monthly Expenses Segment

This step is the most important for us. So, pay attention.

  • Firstly, create a header for different types of Expenses.
  • The following picture will make it clear.

make monthly expenses sheet in excel

  • Consequently, input the precise Expense amounts.
  • You need to type the amounts in the proper categories and months.
  • Otherwise, it will result in errors.

make monthly expenses sheet in excel

STEP 5: Create Excel Formula to Automate Expenses Sheet

Moreover, we wish to make our Expenses Sheet a dynamic one. Dynamic means, it’ll update automatically once a change happens in any of the expense values. Hence, follow the below process.

  • First of all, choose cell O9.
  • Then, type the below formula:
  • Press Enter.
  • Thus, you’ll get the annual Rent fee.

make monthly expenses sheet in excel

  • Afterward, use the AutoFill tool to get the annual total of other expenses.

make monthly expenses sheet in excel

  • Now, we’ll figure out the month-wise expenses total.
  • For this reason, in cell C17, type the formula:
  • Return the result by pressing Enter.

make monthly expenses sheet in excel

  • Next, apply AutoFill to complete the series.

make monthly expenses sheet in excel

  • At last, we’ll calculate the yearly total expenses.
  • So, select cell O17.
  • Type the formula:
  • Accordingly, press Enter.
  • Thus, you’ll get the sum of all the expenses in a year.

STEP 6: Calculate Net Balance

In our final step, we will determine the net balance. You just need to subtract the annual total expenses from the annual income.

  • Select cell I19 at first.
  • Then, type the following formula:
  • Subsequently, press Enter.
  • In this way, you can get a surplus amount.
  • You can also see if there’s any due left to pay.

make monthly expenses sheet in excel

Final Output of Monthly Expenses Sheet

Finally, our Monthly Expenses Sheet is complete. You can modify any headers you want. You can type your own expense values there. It’ll automatically update and give you the correct results. The following picture demonstrates our designed expense tracker.

Download Free Template

Download the following template to practice by yourself.


Henceforth, you will be able to Make a Monthly Expenses Sheet in Excel following the above-described procedures. Keep using them and let us know if you have more ways to do the task. Don’t forget to drop comments, suggestions, or queries if you have any in the comment section below.

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Aung Shine
Aung Shine

Aung Shine completed his bachelor’s in Electrical and Electronics Engineering from Bangladesh University of Engineering and Technology. It has been almost 2 years since he joined SOFTEKO and actively working on the ExcelDemy project. Currently he works as a Team Leader where he guides his team members to create technical content. He has published 150+ articles and reviewed 50+ articles. He has also solved various user problems before. He has interests in Data Analysis, Power Query, Advanced Excel,... Read Full Bio

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