Summarizing Expenses by Category
As a small business owner, I track all my expenses in an Excel sheet. At the end of the month, I need to know the total spent on specific categories like 'Utilities' or 'Office Supplies' for budgeting and tax purposes. Manually adding these up is tedious and error-prone.
=SUMIF(B2:B6,"Utilities",C2:C6) How it works: This SUMIF formula scans the 'Category' column (B2:B6) for entries that exactly match 'Utilities'. Whenever it finds a match, it retrieves the corresponding value from the 'Amount' column (C2:C6) and adds it to the total. This efficiently calculates the total expenditure for the 'Utilities' category.
Data Setup
| Date | Category | Amount |
|---|---|---|
| 2023-10-01 | Utilities | 120 |
| 2023-10-05 | Office Supplies | 50 |
| 2023-10-10 | Rent | 1500 |
| 2023-10-15 | Utilities | 80 |
| 2023-10-20 | Marketing | 200 |
Step-by-Step Guide
Select the range containing your expense categories (e.g., B2:B6).
Define the specific category you want to sum (e.g., "Utilities").
Choose the range containing the expense amounts (e.g., C2:C6).
Enter the formula: `=SUMIF(B2:B6,"Utilities",C2:C6)`.
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