Forum Discussion
How to balance an expense sheet with different percentages
mathetes Thank you for sharing this! I guess the question I have boiled into one sentence is:
Is there a function or formula that I can use to balance an expense sheet with repayments from 2 sources.
I was not able to find an equation that did this in the shared spreadsheet. I currently use the following functions:
Value 1: =SUMIFS(tblTransactions[Amount],tblTransactions[Person],'Data Validation'!E2,tblTransactions[Category Type],'Data Validation'!C2)*-1 [I use this function to sum the total expenses per person then multiply by -1 to return a positive value]
then
=SUMIF(tblTransactions[Category Type],"Expense",tblTransactions[Amount])*-1 [I use this function to sum the total expenses between both people in the table, then multiply by -1 to return a positive value]
then
Value 2: I multiply the the value returned above by .55 for person 1 and .45 for person 2 to return the value each person is responsible for]
then
Value 3: =SUMIFS(tblTransactions[Amount],tblTransactions[Person],'Data Validation'!E2,tblTransactions[Category Type],'Data Validation'!C10) [I do this to sum the total payments made by person 1 to the other to balance the expense sheet]
then
I subtract Value 1-Value 2-Value 3
This only works if person 1 pays person 2. When person 2 pays person one the logic fails.
Any guidance would be greatly appreciated!
- mathetesApr 09, 2024Gold ContributorMy sheet used a different concept. If you had just used 55 and 45 under two participants (instead of my headcount for the family units) the concept would have worked. It was basically a way of apportioning shares of expenses, regardless of who did the original payment, based on an agreed upon "usage"--which would have been comparable to your agreed 55/45 sharing.
Anyway, I'm glad you got it resolved.