MS Excel: Create a Smart, Dynamic, Personal Accounts Manager using Pivot Tables and Charts
DescriptionLink to the file: https://docs.google.com/spreadsheets/d/1zSxV65zkUpGfgHquEeQqM6icKqZTsy8z/edit?usp=sharing&ouid=110287700425339553017&rtpof=true&sd=true
This video is a tutorial that explains how to create a smart, dynamic personal accounts manager using Microsoft Excel and pivot tables. The trainer in the video provides step-by-step instructions, starting with creating a chart of accounts and defining income statement and balance sheet categories.
The trainer then goes on to explain how to freeze the first row to keep headings at the top and define the cash transfer account as a balance sheet item with blank income statement columns. Other asset and liability accounts are defined one by one.
Next, the trainer explains how to define income and expense accounts and classify them as primary income, rental income, interest income, and investment income. The trainer then defines different types of expenses such as utilities, grocery items, health-related expenses, educational expenses, and transportation expenses.
The trainer also explains how to create a classification for income statement items in the balance sheet to automatically transfer their balances to the balance sheet. Transactions can be input in a separate sheet with columns for date, amount, and the five columns from the chart of accounts.
The video also covers using credit cards or bank accounts as primary sources for transactions and creating a table with column headings. Throughout the video, the trainer provides clear and concise instructions to help the viewer create a personalized account manager using Microsoft Excel and pivot tables.
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00:33 - Defining Balance Sheet Accounts
01:48 - Defining Income Statement Accounts
04:23 - Transferring Income Statement Items to Balance Sheet
05:27 - Creating an Input Sheet
08:08 - Entering Balance Sheet items for the First Time
09:19 - Entering Monthly Income and Expenses
12:50 - Creating a Dynamic Income Statement
15:22 - Creating a Dynamic Balance Sheet
17:49 - Transferring Cash to a Bank Account
19:13 - Visualizing Expenses
Smart Accounts Manager