This Personal Money Tracker Template xls is used for tracking personal wealth in currency form. It actually enlists the expenses and income in it and compares the net amount with the cash available in a company or that is possessed by a person. The net amount is calculated by subtracting the sum of all expenses from the net total of income. If income is zero then, the expenses are subtracted from the available amount of cash. This gives an accurate estimate of the cash that is available with a person.
Importance of Personal Money Tracker Template xls
This Excel Template has essential importance for rich individuals, traders, and wholesalers who have to deal with financial transactions on daily basis. This is because their own money is directly or indirectly involved in their daily transactions. They can keep track of their cash flows through using this money tracker template. Moreover, they can also use it as an expense and income tracking tool. This Money Tracker template can also be used by individuals to track their bank account transaction history on daily basis. The cash that comes in to the bank account and the cash that is withdrawn by the account holder plus the cash that is withdrawn by others who are authorized by the account holder by issuing pay cheques can be tracked through this money tracking tool.
Format of Personal Money Tracker Excel Template XLS
It is generally created in MS Excel because the tabular format of MS Excel worksheet fits well for mentioning many expenses and income categories. In this regard, the categories of expenses are mentioned in separate columns in the worksheet. Similarly, the categories of income earning are also mentioned in different columns in the worksheet. Expenses are distinguished from income by making separate section for expenses and separate for income in the same worksheet. However, some accountants or persons might not use this format and they use a debit/credit style for mentioning their expenses and revenues. The earnings are mentioned in credit while the expenses are mentioned in debit section. In such case, only two columns are made: one is for debit and one is for credit.
You can view some sample of Personal Money Tracker Template xls on the internet. You might also find income statement and statement of cash flows with it. You can mix both statements to create the Money Tracker Template. However, if you find a customized template of money tracker, then it will be good for you as you would not have to spend any additional time or effort to create a template of your own.
Just download the template and use it for tracking your expenses and cash earnings plus savings. You can get the sample templates from different blogs on the internet. Most of the templates that you will find will be free to download and their downloading will not require more than a few seconds. Get the customized sample templates and start using them for tracking your own money in your bank accounts or in your daily financial transactions.