11 Bank Balance Tracking

Nowadays people open accounts in different banks.  Either they have been forced to open the accounts by the marketers or by their shifting their place of residence, or voluntarily deciding to keep their eggs in different baskets😊

It will be very tedious to maintain different accounts as you have to keep one day separate for updating your different passbooks from various banks.  Sometimes the passbook machine will not be working. Sometimes the printer will not be working.

I am going to show you how you can keep track of the bank accounts in a simple way without moving out from your house.  All you need is a computer and MS-Excel and of course, internet!  Please see the screenshot below of a fictional different-bank-accounts scenario.

You can track different bank accounts as shown above. Whenever you issue a cheque to someone, write down the amount in the Expenses Column and write the reason in Column L.  In the above sheet, the amounts have been deducted from the respective bank accounts from where the cheque was provided. It can be either a cheque or a bank transfer.  Don’t forget to add the transfer charges to the amount, in case your bank deducts it. Once a month, download the statement from the bank website and add the missing entries like Interest Credit, or SMS Charges deducted or Bank Locker charge deducted or any other missed entries.

For addition of Interest, go to the respective Banks’ column in the sheet above and just add the amount to the existing figure.  This way you can track the interests from different bank accounts.

Do let me know in case you have any queries on the above.  You can put your comments below or ping me on seshjaya@gmail.com

Happy Tracking!! Cheers!!

PS – Next blog, I will show you how to budget for the next few months/years with your present and expected income and expenditure!!

Today’s daffy definition

Archaeologist – The best husband any woman can have; the older she gets, the more interested he is in her!!