Budgeting spreadsheet

InhaleMood

Hi all,
I have my own budgeting spreadsheet which I update every time I spend something, and reconcile it to my bank account.
However, I'm having difficulties to know what to do with cash I spend. For example:
I have a budget on £100 on food
Most of this will be paid on my debit card
However, I withdrew £40 in cash and spent £3.50 of that on vegetables
Now, I have a column for "Cash" and one for "Food" on my ss.
I want to account for the £40 in cash, but I also want to make sure the £3.50 comes out of my "Food" budget.
How do I do that? Sorry if it is an obvious question, but I can't get my head around it!

Thrugelmir

At a very basic level. Run a seperate tab for analysing your cash expenditure. Then add the totals spent back into your summary. 

Lumiona

If you've put £40 in cash, on the next line do -3.50 in cash and +3.50 in food.

InhaleMood

Hmm OK, thank you.
I guess the account balance still won't be able to match up to my bank balance, until I've spent all of the cash? 

InhaleMood

Lumiona said:

If you've put £40 in cash, on the next line do -3.50 in cash and +3.50 in food.

Ahh, I think that would work! Thank you

enthusiasticsaver

tanyasharma said:

Hi all,
I have my own budgeting spreadsheet which I update every time I spend something, and reconcile it to my bank account.
However, I'm having difficulties to know what to do with cash I spend. For example:
I have a budget on £100 on food
Most of this will be paid on my debit card
However, I withdrew £40 in cash and spent £3.50 of that on vegetables
Now, I have a column for "Cash" and one for "Food" on my ss.
I want to account for the £40 in cash, but I also want to make sure the £3.50 comes out of my "Food" budget.
How do I do that? Sorry if it is an obvious question, but I can't get my head around it!

You can either keep a cash balance as well as a bank account balance and do a transfer of £40 from bank to cash then £3.50 debit from cash to food.  Or you can do as we are doing at the moment and not bothering with cash.  Just use the debit card for everything.  Or you can do £3.50 debit from bank to food and £36.50 to cash but that is messy.  

inspectorperez

You sound as if you want pinpoint accuracy which is commendable! If your spreadsheet can cope with extra columns without becoming too unwieldy, I would create opening and closing balance columns for both bank and cash. That will enable you to show the cash balance downward movement when you spend from the float you have drawn from your bank. This should facilitate the correct recording of cash spent on expenses out of the "cash drawn from bank" heading.

The bank balance proof will be performed when you reconcile your bank statements, and your cash balance proof will be the amount of cash in your wallet/purse/whatever.

getmore4less

Create a new account called cash. 

Use money transfers between accounts like Bank, savings, CC, cash, even utilities that use DD that go into credit. 

Do category spends from accounts. 


Might be simpler to get MSMoney it has it all built in and do stuff like multiple spends categories and a cashback on a debit card as a single entry.