Track Expenses by CATEGORY in Excel | SYNC with bank for FREE #3

[@MoneywithDan]

You can buy my Excel Template that I use in this video at my online store here: www.etsy.com/au/shop/MoneyWithDan In the template, I also have a dedicated page for frequently asked questions and my answers (FAQs). I also include an alternative Data tab for bank downloads with two columns!

[@tutsecret499]

I love your voice. So calming voice. Thank you for your videos. I did exactly you said. I grabbed the data from the bank. A breeze.

[@MoneywithDan]

Thanks so much for your kind words. I’m glad this video helps.

[@toloveandrestore2472]

Thank you so much : )

[@MoneywithDan]

Thank you

[@lessisterswendyetmarine]

Excellente vidéo Dan ! Thanks a lot

[@MoneywithDan]

Thanks so much!

[@GavHendo]

Thanks Dan. Very helpful for us! Just a comment - when you pause what you're doing on the screen it goes blurry so i can't see it clearly anymore.

[@MoneywithDan]

Thanks for letting me know

[@joegreen5698]

hey dan, great video. How would i do this month by month? if I paste in my new data below the previous month and drag the columns from above I get errors from the VLOOKUP function? do you know what would be causing this? Thanks

[@MoneywithDan]

You might be better off watching the full tutorial and skip to the section where I show this. Watch here How to track expenses AUTOMATICALLY in Excel | BUDGET SPREADSHEET kzbin.info/www/bejne/qXe9mKWXeKyIidU

[@joegreen5698]

@@MoneywithDan thanks for the response. yeah I’ve seen this but because I’m doing any exactly match with the VLOOKUP does that not mean the transaction will only be assigned a category for an identical transaction? Like each week I shop at different supermarkets etc? Like for yours you only needed to change a few columns whereas mine seems to be most of them

[@Srikri5392]

Beautiful. Is there any way I can check the change in utility bills on a monthly basis!

[@MoneywithDan]

Thank you. I usually update the pivot table to put the dates data field into the column section of the Pivot table which appears in the field list button is selected. You can then filter on just utilities and expand the field to show the supplier costs on seperate rows. Hope that makes sense.

[@GangstaClassy]

Amazing Help!! Thank You!!

[@MoneywithDan]

Thanks for watching! Hope it helps.

[@devondunn6404]

Do you have any recommendations for scenarios such as purchasing things at stores like Target, Costco, or Amazon? Stores that sell groceries, clothes, electronics, household supplies, etc. Pasting my bank statement and setting up the automation categories doesn't help me differentiate between $100 clothes, $100 electronics, $100 groceries, and $100 cleaning supplies if it says $400 spent at Target and I have Target setup as "Misc Shopping" category. Any help is appreciated

[@MoneywithDan]

Good question. That is a common problem with all tracking apps whether free or paid, as you can only categorise based on the name appearing on your statement since your bank doesn’t know what you actually bought. Unfortunately the only way is a lot of manual work making it not worth it in my opinion. Best of luck!

[@devondunn6404]

@Money with Dan I figured. Great content regardless 👍

[@tutsecret499]

@@MoneywithDan That's why it would be good to have an expense journal entry on the side placing all the receipts, then compare the bank statement. In my case when I go the supermarket and buy food I also withdraw money to pay gasoline and drive-in fastfood places. I don't trust give my credit card at 7Eleven, GasStation(inside or outside) and drive-in places, also I don't trust Liquor store, I use cash. I go to Liquor store to buy empanadas, inside in the back of the Liquor store there is a lady that makes empanadas, pizzas.

[@titaadsy6077]

Hey I have a question. When editing the "Values", I couldn't differentiate between my expense and income although I have followed your steps by clicking those red numbers. And I couldn't figure out why. Any idea on how to fix this? Thankyou

[@titaadsy6077]

So the grand total is literally everything in my values summed up, rather than income - expense.. I'm so confused

[@MoneywithDan]

Hi Tita. Thanks for watching. It depends on the format that your bank exports the data in. In my data set from my bank that I download, the bank puts a negative sign in for expenses automatically and makes incomes as a positive number without any work from me. So you haven’t missed anything.

[@MoneywithDan]

@@titaadsy6077 as both income and expenses are positive your numbers would add together in the pivot table.

[@JasminBradley]

@@MoneywithDan how can we fix this problem? My bank data is separated as a debit and a credit column and both are positive. Is there a way to change this all at once?

[@MoneywithDan]

@@JasminBradley Hi Jasmin. Thanks for question. In this circumstance I recommend adding a third column and have a formula to bringing the numbers from both of your banks columns into this third column using a sum formula. If you want to see negative for debits then you can do this too. I created a solution to this problem in my template that I have on my Etsy store which I have included in the description of this video if you’re interested.

[@thehomedepothouseplant9986]

awesome awesome stuff! Thanks Dan!!

[@MoneywithDan]

Thanks

[@eldarhrnjcic5075]

If I place the transaction value in the values box and change it to sum and to number then my result in the pivot table is 0 and if I place the transaction value in rows I do get the correct numbers I added in the data. Does anyone know how to solve this?

[@MoneywithDan]

It sounds like your numbers are formatted as Text instead of numbers. I suggest you use the function to convert text to numbers. A step by step guide can be found here: support.microsoft.com/en-au/office/convert-numbers-stored-as-text-to-numbers-40105f2a-fe79-4477-a171-c5bad0f0a885#:~:text=Use%20Paste%20Special%20and%20Multiply,-If%20the%20steps&text=Select%20the%20cells%20that%20have,converts%20the%20text%20to%20numbers.

[@ramazanzuberi7956]

Why do the videos keep going blurry?

[@MoneywithDan]

KZbin seem to have lowered the standard resolution of videos to 720p. I created the video with 1080p. You can increase the video quality to 1080p to get the fully quality in the settings of your video.