I’m getting more and more emails asking me about the best way to create an earning spreadsheet. I have to admit it took me a while to figure out how to create one that worked for me. Creating a spreadsheet can be quite a personal process as a lot of it depends on what you like, and what you want it to do. First of all lets examine the basics of what it is and what it can do!
What is a Spreadsheet?
Very basically a spreadsheet is a electronic grid that allows the user to make sense of information. It usually consists of a lot of figures, but this is not always the case. It allows for manipulation and organisation of that information in a certain way. Critically it also allows analysis of that information.
A blank spreadsheet looks like this:
A basic spreadsheet with information added looks like this:
Note that a spreadsheet creates a way to identify any point in the grid. There are letters across the top and numbers down the side, so in the sheet above the February phone bill amount is in point C2. Each point, or square on the spreadsheet is called a cell.
Why Use a Spreadsheet?
A spreadsheet can be used to simply record information (such as a list of contact details), to monitor figures (such as the bills example above) or to perform complex calculations and analysis. It can also be used to create visual graphs.
Personally I use a spreadsheet to record, monitor and analyse my online earnings. This way I know how much I earn, if it goes up or down, and the option that earns me the most etc. In my opinion knowing this information is vital to planning and achieving a particular level of income.
How to Create an Earnings Spreadsheet?
You will need access to a spreadsheet program such as Excel, Google Sheets, or Open Office. There are many other programs available – simply do an internet search and you will find a lot of options. Personally I use google sheets as it is simple to use, free, easy to access and share, and requires no downloads etc. All information is stored for you online as well. Google sheets also has lots of templates available to use immediately without having to create your own.
The process I follow to create a spreadsheet is detailed below:
I use a new blank spreadsheet each time I create one. To do that simply open google sheets and click on the image with the big + sign as shown on the far left in the image above. On other programs it may be different, but there should be an obvious create new sheet button.
The first thing to do when you create a new spreadsheet is to give it a name to help you identify what it is. I advise something like online earning…
Now you are ready to design the structure of your spreadsheet. In other words what goes where.
First I advise you write a list of the information you want to include. For me, not only did I want to monitor my daily earnings, I also like to have the figures all in ££. I use quite a lot of casual earning sites and the currency of the sites can be in pounds, dollars, or various types of points. This can make it difficult to know how much I am making on each site per day.
The information you want to include on your spreadsheet will depend on what you want it to tell you. Is it your earnings per day, or week, or month? Do you want to know how much you make on each option you use or just an overall amount? Do you want to track your earnings to see if they have gone up or down?
Personally I like lots of details. I have the date, the site name, the conversion from points or dollars into pounds, a site total per day, a particular type of earning total (such as clicking sites or passive income etc) and an overall daily earned total. At any point I can look at my earning spreadsheet and know how much I have earned per day, from each site and my total earnings so far during the month.
How you set out the information on your spreadsheet is one of the more difficult things to get right. Usually there will be information on both the horizontal and vertical cells. For example across the top row of the spreadsheet you could have the date, or the name of the sites. Equally you could have this information down the side in the first column. Often the date will go on one and the site name on the other.
My own spreadsheet looks like this:
As you can see I have the site names across the top and the date, as well as extra information, down the side.
Adding the Information
Once you have the design of your spreadsheet in place it is just a case of filling in the relevant information. I choose to do this daily. Each day I add the current balance of each site to the date row. So on 1/2 the balance I had in JPJ was £28, in Future Net was $6.43 and in Gifthulk was 4772 points.
For some people simply having a record of their account balances each day, or week etc is enough. If you want to know that your earnings are increasing each day for example you can see this quite easily just by recording the balances. For more detailed analysis you will need to know how to conduct various calculations.
This section comes with a headache warning 😀 lol!
There are a huge amount of complex calculations that can be done on spreadsheets. In this guide I cover just a few of the basics as this is usually sufficient for online earnings sheets.
To calculate how much is earned daily.
You need to know the balance from yesterday and today and just need to minus yesterdays balance from todays. To do that on the spreadsheet you use a simple formula that instructs it what to do. The formula uses the cell letters and numbers to identify the information for the calculations so will look something like this: =C4-C5. In this example C4 would be the site balance for today and C5 would be the balance from yesterday.
To calculate how much is earned so far.
For this calculation you can use the minus formula or you can use an addition formula. You could take the balance from 1st away from todays balance, or you could add all the daily totals. To add on the spreadsheet you use the same formula as before but with a plus sign. For example =C4+C5 will simply add the figures in those cells together.
Mostly an earning spreadsheet will only require the use of the minus and the addition formulas. If you need to multiply or divide you need to use the star * or the forward slash / keys. You might need to use these to convert your points balance into a currency amount.
Converting Points to Currency
The easiest way for me to explain this is with an example. Lets use Gifthulk points for this.
From checking on the Gifthulk site I know that 5000 points are required to claim $5. So if I earn 34 points in one day how much have I earned?
There are different ways to do this calculation, the way I do it is to calculate how much 1 point is worth. So if 5000 = $5 I need to divide $5 by 5000 to find out how much 1 point is worth. The answer is $0.001. I then multiply this amount by the number of points earned. 34 points = $0.034.
To do this on the spreadsheet the formula would be =5/5000*34. Or using the cell numbers with the relevant information for the calculation it would look something like this: =C8/D14*A12
On google sheets there is the option to use todays currency rate to do the calculations. All you need to know is the formula for the right currencies. To convert $ into £ for example the formula is GoogleFinance(“CURRENCY:USDGBP”) to convert Euros the formula is GoogleFinance(“CURRENCY:EURGBP”)
Really when you know the formula you can do any type of calculation on a spreadsheet 😉
I do hope I have explained how the calculations work, but I understand it might give some of you a headache trying to read that….. I have tried to keep to the basics as much as possible.
If you would like a personalised spreadsheet created for you, with all required formula please contact me to discuss it. I am happy to do this for a small fee.
Have you found this post useful? If so feel free to share with others. Thanks in advance if you do share – I always appreciate your help in reaching a larger audience 🙂