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Posts Tagged ‘personal finances’

How to track your business in excel part 4

November 18, 2009 Leave a comment

The template for this web cast is available in our Learning Center for $11

This is the final chapter in the 4 part saga (with one bonus in part 2).

Here is the link to watch this web cast (Video):

http://nerdenterprises.na6.acrobat.com/p74667017/

In part 3 we were not able to get into pivot tables too deeply so I wanted to devote another web cast to that part.

We show you how to use the transaction data to run pivot tables so that you can quickly and concisely report on the data to give you really meaningful information.

If you’ve missed the first 3 parts, be sure and get caught up here:

How to track your business in excel – part 1 – http://nerdenterprises.na6.acrobat.com/p30305366/

How to track your business in excel – part 2 – http://nerdenterprises.na6.acrobat.com/p20159112/

How to track your business in excel – part 2 – Bonus – http://nerdenterprises.na6.acrobat.com/p44179111/

How to track your business in excel – part 3 – http://nerdenterprises.na6.acrobat.com/p84834671/

And this one again

How to track your business in excel – part 4 – http://nerdenterprises.na6.acrobat.com/p74667017/

The pivot tables are the key to this when it is all said and done because this is how you accomplish what any accounting system should be designed to do – take what you’ve put into it and give you something valuable that you can take out of it. This is what any system’s reporting feature is all about. You won’t be able to do a well formatted P&L and Balance sheet with this, but you can get close by running the pivot table on the transactions and then adding the destination account to the filter, then filter for all Balance sheet accounts. Keep in mind it won’t be perfect. If, for example you have payments to “Accounts Payable” then this will show up on your report, but does not represent what is “Due” in accounts payable. Instead it represents what has been “Paid” on accounts payable. So you may want to exclude that one. You can enter bills in your transaction register and then you would have an accurate payable, because the bills would go in as a negative (credit) to Accounts Payable and the payments on accounts payable would be entered as a positive number. Then you could pivot on accounts payable to get an accurate balance.

Next week we’re back on to QuickBooks so visit us there at http://www.qiuckbooksnerd.com

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The 10 Minute Household Budget

August 24, 2009 Leave a comment

You want to keep your household budget simple and make sure it includes everything. Ms Excel of course is the tool we use for any kind of budget. You want to lay your budget out in a month by month format – even if you are already well into the year you want to start from January. This makes it all uniform in terms of having a series of 12 columns making up one year. Otherwise you have a partial year in the first year and it won’t match up. This makes it easy to copy and paste, then do a search and replace to expand the months and add another year as you will see demonstrated in this video tutorial.

The first step is to lay out the income – set up a unique line for each source of income (ie Payroll, 1099, other..).

Then you will lay out the expenses. I’ve seen people lay out some pretty complex and hard to follow budgets in terms of the expenses. You will see that in this budget we keep it very simple. If you want to look at credit card debt and look at the interest rates and monthly payments, that should be done in a separate schedule. Then you can tie the payment total into the main schedule. This keeps it simple. You can see a tutorial on how to use our Credit Cards Template here: http://www.nerdenterprises.com/Web_Casts/Debt_Management_Tutorial/Debt_Management_Tutorial.htm This can easily be brought in to a template like the budget we are creating in this budget tutorial.

The trick is to keep the budget simple. What happens all too often is that we complicate things and then we don’t want to spend time on this sort of thing because it is complicated and painful!

Watch the 10 minute household budget video tutorial here: http://nerdenterprises.acrobat.com/p87449821/