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Excel/Tracking Monthly Money Contributions

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Question
Dear Sir,

We are a family of 17 members contributing R1000 every moth for business. We would like to have a simple excel tool that we can use to track monies for each and every member especially on balance owed and advance paid and balance todate.    

Regards

Answer
Simon

There are numerous ways to create what you want, it just depends on what you want.  I will suggest something very simple.

1--Create a sheet for each of your members, and name the sheet for the member for example your sheet would be named Simon.

2--At the top of each worksheet I would also put the name, such as in Column A Row 1 put in "Simons sheet".  This will make it easier to see whos sheet you are in.

3--In Row 3 put in some headers, such as column A "Date", column B "Amount", column C "Pledged".

4--In Column C row 4 put in the amount that each member has to put in, so if that amount is 12,000 the put that in cell C4. In cell C5 put in the formula +C4-B5. Copy this formula down the rest of the column as far as you need to.  The balance reflected in this column will then reflect the amount remaining to be paid by the member or the overpayment made by the member (if the result is a minus)

5--As each member puts money in it should be posted to his/her sheet. The date the money is received and the amount should be posted.  The first posting to each sheet should be on Row 5, and subsequent entries would be posted on subsequent rows.


This is a simplified version of what you can do, there are many other ways to account for this that I could give you that could be much more comprehensive, but would require much more explanation.  If this doesn't work for you let me know and we will work up some other suggestions.

Richard
Florida (USA)











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Richard Roberts

Expertise

Can assist you in most areas of Excel, have been working with it for about 15 years in many types of applications, but primarily in financial and accounting applications. I am a CPA and many client or client problems have necessitated the use of excel. I am not an expert in charting, macros, or pivot tables.

Experience

Have been working with Excel for about 20 years primarily in accounting and financial areas.

Education/Credentials
BA, Certified Public Accountant

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