Repeat the same process for the other drop-down headers: Vendor, Cost Center Code, Payment Method, and Payment Status.Click Apply when you’re finished, and review your new list by clicking the dropdown arrow icon.(We recommend listing them in alphabetical order to make it easier to navigate!) Under the Source text field, rewrite the list to match the expense categories in your business.Go to the Menu Toolbar at the top, click Data > Data Validation, and a pop-up window will open.Click on the Office Supplies line item (cell B18), and the dropdown arrow icon will appear.Here’s how to lock in your categories via dropdowns: One misspelled expense type or cost code could throw everything out of balance. Dropdowns are a failsafe for error-free data processing and streamlined analysis. It serves a much-needed purpose of clean categorization and consistency across all company-wide transactions. The drop-down lists within the expenses spreadsheet template aren’t included to gloss over Excel’s, how do we say it, “bare” aesthetics. Use sheet headers to give context and clarity to budget reviewers Step 3: Set up expense categories Simply open the download file to follow along with the steps below! Overwrite the dummy data with your business expenses while keeping the built-in formulas. It already contains the standard tracking fields for dates/vendors/amounts and pre-built formulas to automatically sum totals by category. Rather than building an expense tracker from scratch, use our free Excel expense report template as a head start. Let’s jump right into the step-by-step guide! Step 1: Download our free expense tracker template With your essentials gathered, we have all the ingredients to customize an expense report template in Excel. Expense categories: Define a list of expenditure types relevant to your operations.Expense receipts and documentation: All transaction records to input (Why not get a jumpstart on your next expense report?).
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