How to Track Bill Payments Using a Spreadsheet Program or Paper

Keep data at your fingertips.

Tracking when and how you paid a bill can be frustrating. You remember writing that check or making an OBP (online bill payment), but can't seem to locate the information. For a small amount of effort, you can have that data at your fingertips in seconds. In addition, if you decide to analyze your payments in order to set up a budget, your historical information is within easy reach without going back through old statements. This system can also be used on paper if you choose to do so.

Difficulty:

Easy

Instructions

Things You'll Need

• For paper version: lined paper, ruler, and writing utensil.
• For e-version: a good spreadsheet program and computer.

1. Create Your Blank Template.

   Paper: Write "Bill Tracker" at the top of your paper. On the back of the paper, write "Blank Template."

   E-version: Open your spreadsheet program and save your document. Label the top row of your document with "Bill Tracker". Rename your spreadsheet "Blank Template."

2. Set up columns.

   Paper: Under your heading, make five columns, and label as follows: column 1 - Approx Due Date (column width: 1 inch); column 2 - Creditor (column width: 2.5 inches); column 3 - Amt Pd (column width: 1 inch); column 4 - Date Pd (column width: 1 inch); and column 5 - Ck or Ref # (column width: 1 inch).

   E-version: In the row following your heading, make column heads as follows: In column 1, type Approx Due Date (Excel column width: 9); in column 2, type Creditor (Excel column width: 38); in column 3, type Amt Pd (Excel column width: 12); in column 4, type Date Pd (Excel column width: 13.5); and in column 5, type Ck or Ref # (Excel column width: 13.5).

3. Format columns.

   Paper: Skip this step.

   E-Version: Format all columns for top vertical alignment. For horizontal alignment, use left indent for first two columns and right indent for final three columns. Format the rest of the columns appropriately according to general, text, date and currency categories.

4. Create Your Template.

   At this point you have the spreadsheet body ready to be filled in.

   Paper: Make a copy of your blank template and label the back "Template." This is your working copy.

   E-Version: Copy your "Blank Template" and rename the new one "Template."

5. Customizing Your Template.

   For both Paper and E-Version: Gather all your monthly bills and place them in order of due date. Fill in the Approx Due Date and Creditor information for all your bills. You may add additional information into the creditor section; for instance, "pay semi-annually." If the amount of your payment is the same each month, fill in the Amt Pd column. If they vary, do not fill it in.

6. Using Your Bill Tracker.

   For both Paper and E-Version: To start a new month, copy your Template and label it with the new month and year. When you are paying bills, keep your Bill Tracker up on your computer or on your desk and fill in the appropriate information.

7. Protecting Your Data.

   Paper: Keep your information in a three-hole notebook in chronological order using dividers to separate the years. Place the notebook in a designated spot on your desk.

   E-Version: Be sure to save often. Back up your data to disk so that you do not lose it.

Tips & Warnings

• Use historical data for budget analysis. Keeping your records compactly in this or a similar format makes it easier to evaluate financial records.

• Keep backup data (statements, OBP receipts, etc.) for one year, then discard.

• If you are in a situation where someone other than yourself or your family is using the computer your data is stored on, be sure to password protect this document.