Sharing Money With Friends: What Could Go Wrong?

Running the Finances for our Freelancers Collective with One Awesome Spreadsheet

  • 10% for jobs where 1 or 2 of us deliver.
  • 20% for jobs involving the whole team.

Import data from the bank

Once per month I sit down and run through the same process. I start by importing the transaction data from the bank account into the Bank Import sheet. Then I do a couple of things.

Amount*VLOOKUP(Currency, Currencies, MONTH(Date))

Summarise bank data

Now my bank data is categorised and normalised to a single currency, I want a summary. I use the Data menu again to create a Pivot Table, which you can see in the Bank Summary sheet.

  • Columns: Date (by default, this creates one entry per day, so I right-click on a day, and select “Create pivot date group” to switch it to this monthly view shown here)
  • Values: Amount_EUR

Products

Each product, and each consulting job, has an entry in the Products sheet. Here I add up the total income and expenses for each row to give a final Profit (Column K) for each product.

Budget

Finally, we have a very roughly estimated Budget, so we can see when we are due to run out of money. This sheet is very straightforward, hopefully self-explanatory:

  1. We have regular reflection times booked into our calendar every two weeks. So maybe we didn’t get the agreement perfectly right the first time, we have plenty of opportunities to adjust as we learn what works and what feels fair.

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