How to Track Expenses for TAXES Automatically

Learn how to track expenses for tax in Microsoft Excel automatically by using simple formulas and functions in this step-by-step guide/Tutorial.

I provide links to all my online videos and also have a dedicate page for frequently asked questions and my answers (FAQs). I also include an alternative Data tab for bank downloads with two columns!

(BONUS When you signup using this link, the first 4 months of subscription are free if you choose to upgrade to advanced plan and I may get a small my commission at no extra cost to you, so we both win!)

OTHER VIDEOS

Remember to SUBSCRIBE to my channel! It's free!

OTHER INFORMATION
My method includes showing you how to use Pivot Tables in Microsoft Excel to organise and analyse your income and expense exported from your Bank CSV Files for FREE. My method does not require you to download any apps or Excel files, give away your private information or bank passwords like many popular mobile device apps do. Only an intermediate level of Microsoft Excel skills is required.

Why pay to use an expensive App on your mobile phone to tell you where you should spend your money. Tracking your Expenses in Microsoft Excel is free and I will you show how easy it is to use common formulas and tools like Pivot Table in Excel to your exported bank transactions to help you see where your money is being spent each month and by category that you have set up.

CHAPTERS
00:00 Intro
00:50 How to export online Bank Statements to a CSV file
01:43 How to open Bank Statements in Excel
02:30 How to add Category names automatically to bank statements
09:03 How to add a Pivot Table over bank statement data
10:43 How to format numbers in Pivot Tables
14:03 How to add YEAR and MONTH formulas
16:03 How to add Tax Type to data to identify business expense vs Personal Expenses

DISCLAIMER This video is intended for general information and entertainment only and is not a replacement for professional advice. Money with Dan is not a financial advisor. You should consider seeking independent legal, financial, taxation or other advice to check how the information in this video relates to your unique circumstances. Money with Dan is not liable for any loss caused, whether due to negligence or otherwise arising from the use of. or reliance on, the information provided directly or indirectly, by use of this video.
#Budgeting #Moneywithdan #IncomeTax

[MoneywithDan]

In the template, I also have a dedicated page for frequently asked questions and my answers (FAQs). I also include an alternative Data tab for bank downloads with two columns!

[mariachiamor]

Thank you! I was manually entering from a paper statement to Google Sheets. 
This video has been very helpful! Plus, it'll make my monthly expense tracking WAY easier!
~ Alex

[johnaaisa]

Hey Dan, love the video it is so simple and easy to follow. Could you show us how to add a budget vs actuals sheet to easily track monthly expenses?

[darlenenope]

Thank You for taking the time to share this knowledge in an easy to understand and implement method. We can more easily keep up with our spending therefore save money to reduce stress. Again we appreciate your kindness

[jasonchappell]

Hello Dan, i love the template ! I am running into some issues and i am sure it is my lack of knowledge of excel and not the template.
1) i have several decriptions that are listed the same such as Target, City Business Office/utiliies and business taxes, also the "Check" entries in description column which just says "check" with no check number listed (i can get # and add them if neccessary); ok my issue with these decriptions is that since they are described as the same when i categorize them on the ref sheet the actual category i enter may be different and this is not working because the category on the ref sheet obviously varies even though their respective description is the same but since description is the same the data sheet is pulling whatever the earliest category entry was that i entereed on refs sheet and is applying that to all entries with same description this is also occuring with my Data/Internet category not allowing me to seperate home vs business.
2) The Tax Type is not carrying over from ref sheet (by the way i am using the data sheet with both debit and credit columns.
3) also a completly seperate issue, i plan to attempt to add another sheet with a cash reciept tracker and pdf reciept image referrance and i am wondering how i can accomplish this and have it sorted and listed in the expenses (i realize you that have not spoken on this topic and that it is my personal interest so if you choose not to address this last topic i understand). Thank you for your patients and understanding in advance.

[queryalways]

Hi Dan, I just came across this YT series & I think they are great!! I separate my years by tax years (July-June), what would be a nifty way of doing this in the year column, or even a 2nd year column TFYear? I hope you're able to help, many thanks in advance :D

[LOUD_NOVA]

Unfortunately, my bank statements only download as PDFs. Had horrible experiences with PDF to Excel converters. So back to manual entry I go.