With all our sheets functioning the same as our checking account, in order to demonstrate the full functionality I want to cover in this article, we need some more data. In this section we are going to go through this in preparation to tie everything together.
Entering transactions and “balancing” our finances:
| Screenshot | Task Description |
|---|---|
| Enter some transactions to your Credit Card sheet using the same methodology used to enter checking account transactions. | |
| Now, we will make a payment. This is negative transaction since it will lower our balance on the credit card. The steps for creating the transaction will be exactly the same, except the amount is negative. | |
The payment we made to the credit card had to come from somewhere. In my example, I am going to make the payment from my checking account. So click on the Checking tab and enter the appropriate information for the payment you made. The amount should be exactly the same because we are reducing the balance we have available in our checking account. If you are wondering how everything is balancing out by making two negative transactions, it will be explained once we work on the summary sheet. | |
| Now suppose we are going to deposit some money into our savings account from our checking account. Again, this is going to reduce the balance from our checking account, so it is a negative transaction. | |
| Select the Savings tab and make an entry for the amount you deducted from your checking account. We are simply moving the value from our Checking sheet to the Savings sheet. |
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