This article provides information on how to create a rental property expenses spreadsheet. A spreadsheet will help you keep track of all your property related costs and expenses, and this will save you time in finding more detailed information for each expense.
The first thing that you need to do is open the workbook and copy all the cell references into the blank cells of the Sheet, which you want to be your Expenses Sheet. Be sure to add your correct column names so that they will be readable.
Creating a Rental Property Expenses Spreadsheet Template
Next, copy the column headers from Column B, C, D, and E into the list boxes that are set up as headers for your Expenses Table. Be sure to copy them exactly as they are displayed on the page. You will be doing the final formatting later in the procedure.
Now, open the Expenses Sheet and open the Rental Properties section. You can easily click the “Copy” icon in the upper right corner.
After that, type in the cell references for the expenses and click the “Paste” icon. You will be prompted to change all the quotes so that they will be numeric. Once you have done that, your spreadsheet should look like this:
To keep things organized, then it is best to group all the categories that you have grouped the expense types into. First, you have to create two columns, one with the names of the categories, and the other with the expense amounts. Then, you must break up the categories into three rows, the first one is the number of categories, the second is the expense amount, and the third is the category name. In this example, you will use the same formula as you did to create the Expenses Sheet in order to have easier access to the categories.
Now, go back to the workbook and open the Expenses Sheet and add the necessary column names for the appropriate categories. You will want to sort the list so that the Expense Amount column and the Category Name column will be on top. Then, you should fill in the Expense Amount column with the expense amounts for all categories. The Category Name column should also contain the expenses for all categories. Make sure that you enter in all the necessary numbers (it’s) because you will be changing it later.
When you are finished creating the expenses in the rental property expenses spreadsheet template, you can now move the labels in the appropriate place. To do this, you must click the Cells button, and then type in the appropriate cell names. You can easily repeat this process for each of the categories.
Now, since you have created the expenses, you will want to enter the payments for rent payments, utilities, and taxes. You can also include expenses for such things as the mortgage payment if you are paying that, but it is not required.
To make your spreadsheet more user friendly, you can add an extra column as well as make your column headers bigger. If you have extra categories that do not appear in the total expense column, then you can use the column label to add a new column, for example, mortgage/rent payments and utilities are in separate columns and the additional column will contain the total amount for all the category that appear in the total column.
Another option to make your rental property expenses spreadsheet more user friendly is to make the column labels bigger by grouping the categories that you would like to include into a new column. This will make it easy to read.
Do not be afraid to experiment with your own formula. It is always better to use the template and modify it if you find something better. YOU MUST SEE : rental property expenses spreadsheet
