2.4 Tracking Transactions

Lesson Objective: Learn how to enter various types of transactions and view the budget dashboard.

Entering Transactions

When you enter your transactions into the spreadsheet each one must contain the following basic information:

  • Date
  • Description
  • Total Amount
  • Transaction Type
  • Group
  • Category
  • Withdrawal and/or Deposit Account

If you miss any of the above information, your budget may calculate incorrectly so be careful. Additionally you may need to enter the following information:

  • Cashback
  • Refund
  • Notes

Sometimes you'll pay for things with a debit card and need to get cashback or you may get a refund that goes back to your account. These are special transactions and you will need to account for them. You can add notes in the last column of any transaction that you want to help you remember more details about it.

Transaction Types

There are three basic transactions types, money coming in, money going out, and money being transferred. Everything you do with your money will fall into one of these buckets. The tutorial video covers various transactions and the types that they fall under. Follow along with the sample spreadsheet and read the notes to help you understand. You can use the image below as a cheat sheet (it's also on the "Transactions" worksheet).

Budget Dashboard

The dashboard shows you how well you are staying on budget. It contains seven different charts:

  1. Net Cash Flow
  2. Income
  3. Expenses
  4. Taxes
  5. Savings
  6. Debt
  7. Credit Utilization

All charts will update after you enter transactions and refresh the worksheet. The income, expenses, taxes, savings, and debt charts use a stoplight visual to show whether you are under budget, approaching the budgeted amount, or over budget.

The credit utilization chart will only populate if you are tracking debt accounts (covered in Section 3).