Nov 01 2023 05:51 PM
Nov 01 2023 05:51 PM
I have created a budget in Excel but want to streamline it. Each column is a particular budget item like Groceries, Gasoline, etc. I type in the name of the store, the date of purchase, and the method of payment in the 1st 3 columns. I then have to scroll many columns over to get to the column the budget amount goes in. This is time consuming since I have many budget columns. I would like to assign a code to each budget column then put that code in column 4 then the amount in column 5. My formula question is this. Is there a way to have Excel automatically put the amount I typed in column 4 in the correct budget column it is supposed to go in when it sees a specific code in column 3? I know how to do simple formulas like SUM but don't know how to do one this complex. I would love some input on this.
Here is an example:
Column #1 / 2 / 3 / 4 / 5 / 6 / 7 / 8
Store / Date / Pay source / Code / Amount / Gasoline / Groceries / Electric /...
PG&E / 11/1/23 / Ckg / 8 / 150.00 / / / 150.00 /
Nov 02 2023 12:00 AM
You can achieve this in Excel by using a combination of functions, such as INDEX and MATCH, along with conditional statements like IF or IFS. Here's a step-by-step guide on how to set up your budget sheet with the code-based automatic allocation of expenses to the correct budget column:
=INDEX($G$1:$G$4, MATCH(D2, $F$1:$F$4, 0))
Now, when you enter a code in Column 4, Excel will automatically look up the corresponding budget category from your reference table and display it in the "Amount" column.
This method allows you to streamline your budgeting process and automatically allocate expenses to the correct budget category based on the code you enter in Column 4. You can expand your reference table with more categories and codes as needed.
OR you can achieve this by using lookup functions and possibly a combination of VLOOKUP and IF functions. Here's a step-by-step guide on how to set up your budget sheet with codes in column D and automatically allocate amounts to the respective budget columns based on the code in column C:
Code Category 1 Gasoline 2 Groceries 3 Electric
=VLOOKUP(D2, $A$2:$B$4, 2, FALSE)
=SUMIFS($E$2:$E$100, $F$2:$F$100, G$1)
Now, when you enter an expense in columns D and E, Excel will automatically categorize the expense based on the code in column D and calculate the total for each budget category. This setup streamlines your budgeting process and keeps your budget data organized. You can add as many budget categories as you need by extending your reference table and budget columns. The text was created with the help of AI.
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Hope this will help you.
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