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How To Subtract Currency In Excel



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Question
How can I achieve a negative time within an Excel Document?
Can anyone tell me how to achieve a negative time from and Excel spread sheet. I'm trying to work out number of hours worked. If less than 37.5hrs I need to know by how much. Is it possible?

Answer
Yes. Use currency for that column's character type instead of text. Pick on of the accounting types so it will show the negative inside of (37.5). That's how you get negative numbers and use as negative times. I'm not sure that answering that answers your question, though. You can then put in a formula to add the columns and know by how much less than 37.5 - What are you using this for? That will determine the forumula.For example, if -2 means two hour lunch on an entry then yes that will do it. Add the column (including the -2 for lunch in the column) and then subtract 37.5 - that's how much if negative, 0 if same, and overtime the positive ones.



Question
How do I find a person to help me set up a budget?
I am wondering if regular people, without millions in the bank, go to financial planners? Someone that can help set and plan a budget, on what I make and show me how to save money even thought I don't feel like make enough to make ends meet.

Answer
There is no reason to go to a financial planner. Going to a financial planner for budgeting is like going to college for 4 years to learn to ride a bicycle. It's a waste of time and money. The foundation of any budget is accurate bookkeeping. You can do it with paper and pencil, with Excel, or with a bookkeeping and budgeting software program such as Quicken. You need to reconcile your checkbook every month. Accurate bookkeeping is like having a condom. It's of no value unless you use it. Write down every source of income on a separate line. Then add the total income. This is how much you have to work with. Next write each type of expense on a separate line. You need to do this regardless of whether you pay the expense with a check or you use currency. Now add the total expenses. Subtract the expenses from the income. If the expenses exceed the income, you need to cut back discretionary spending. This is called an income statement or a profit and loss statement. The next category of expenses are those which are billed semi annually or annually such as homeowners insurance or auto insurance. Take the total amount of the bill and divide it by the number of months it covers. This gives you the monthly expense. Put money aside for that and add it to your expenses on your bookkeeping sheet. The third category are unexpected expenses such as auto repair. You know that your car will need repair, but you don't know how much it will be. Go through your check register and add up all the unexpected expenses over 24 months. Divide the total by 24, and put that amount aside each month for unexpected expenses. Add that amount to the expense portion of your income statement. The bookkeeping is the most important part. Now for the budgeting. After you have an income statement for 1 year, use that as your budget. You allow yourself 1/12 of each expense each month. If your income goes up, then you can increase the amount of each expense proportionally, and visa versa. This is easy to do on Excel. I suggest you read Bookkeeping for Dummies and Budgeting for Dummies. Please don't be offended by the name. For Dummies is a publishing company. They contract with authors who have the ability to put concepts in easy to understand language. If you have any questions, just click on my avatar and send me an E mail.



Question
Simple way to use excel or other program?
to track bank accounts. Is there a way I can have a running balance on an excel sheet as I deposit and withdraw money into an account? I have not been able to make the SUM function work. Can anyone help me firgure out what I am doing wrong? Is there a good financial program to keep a running balance of deposits and witdraws to accounts?

Answer
Here is a basic deposits & withdrawals balance sheet. Put your headers in row 1: A1: Date B1: Deposits C1: Withdrawals D1: Balance Format col A as date (right-click on the column header, Format Cells, date) Format cols B-D as currency. In D2 put =SUM(B:B)-SUM(C:C) This is your running balance figure. Your first entry in A2 will be the date of a transaction. Your first entry in B2 will be your starting balance. You will see this is reflected in D2. Every time you put a figure in column B, it's added to D2. Every time you put a figure in column C, it's subtracted from D2. There are obviously a lot more refinements available (Google Excel personal finance templates).




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