![]() Using a formula to calculate the difference between income and expenses Select the range of cells containing your expense amounts and apply the SUM function to get the sum total of all your monthly expenses. Similar to calculating total income, you can use the SUM function to calculate your total monthly expenses. Using the SUM function to calculate total monthly expenses This will give you the sum total of all your monthly income. To calculate your total monthly income, simply select the range of cells containing your income sources and apply the SUM function. The SUM function in Excel is a handy tool for adding up a range of cells. Using the SUM function to calculate total monthly income Here's a breakdown of the formulas you can use: A. Excel provides various formulas to help you achieve this. When creating a household budget in Excel, it's important to accurately calculate your total monthly income, expenses, and the difference between the two. Estimate based on previous spending habits and take into consideration any upcoming expenses. ![]() ![]()
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