What's the difference between Estimated and Actual?

Estimated is what you budgeted for a line when the project was approved; Actual is what it really cost once invoices came in. The Variance column subtracts them so you see over/under at a glance.

How do I track remaining budget on this template?

The Summary block does it for you: Remaining vs approved in H9 calculates =B3-D46, your approved budget minus total spent. It turns red the moment you go over the approved number.

How do I add more line items?

Right-click a row number inside the cost table and choose Insert. Adding rows above the Totals row (row 46) keeps the =SUM ranges and the Category drop-downs intact.

Why does the % of budget spent cell turn red?

A conditional-formatting rule flags H10 red once it passes 0.9 (90% of the approved budget). It's an early warning that you're close to the limit while there's still time to act.

Does this project budget template work in Google Sheets?

Yes. In Google Sheets choose File → Import → Upload and pick the file. The formulas, Category drop-downs, and the red conditional formatting all carry over after the import finishes.

Project Budget Template (Excel)

Last updated June 2026

Enter the approved budget once; watch the spend line creep toward it. Each cost row takes an estimate and an actual amount, and the Variance column, totals row, and summary block update instantly — past 90% of budget, the percent-spent cell turns red. A free two-sheet .xlsx (Budget plus Categories) for anyone answerable for a project's money.

project-budget.xlsx · free · no signup

Download free template

Works in Excel, LibreOffice Calc, and Google Sheets (File → Import).

SHA-256: cae0cc12bb973e2b029f6662900b82880c174bc059f9065ad053eac9e7d6b13e

E7=IF(C7="","",C7-D7)

	A	B	C	D	E
1	Item	Category	Estimated	Actual	Variance
2	Design contractor	Labor	$4,500.00	$4,500.00	$0.00
3	Copywriting	Labor	$1,800.00	$2,100.00	-$300.00
4	CMS licenses	Software	$1,200.00	$1,188.00	$12.00
5	Stock photography	Materials	$350.00	$420.00	-$70.00
6	Launch ads	Marketing	$3,000.00	$2,750.00	$250.00

Line items from the Budget sheet. Variance is Estimated minus Actual — negatives mean you overspent and turn red automatically.

What's inside

Sheets

BudgetProject header, the line-item cost table, a Totals row, and a Summary block showing approved budget, spent to date, remaining, and % of budget spent.
CategoriesThe eight cost categories (Labor, Materials, Software, Marketing, Travel, Equipment, Contingency, Other) that feed the Category drop-down. Edit the list and every drop-down updates.

Columns

ItemWhat the cost is for — one row per deliverable, contract, or expense line.
CategoryA drop-down fed by the Categories sheet, so you can roll costs up by type later without typos.
EstimatedWhat you planned this line to cost when the budget was approved.
ActualWhat it really cost. Update it as invoices and receipts land.
VarianceEstimated minus Actual. Positive means the line came in under estimate; negative means it ran over and turns red.

Formulas that do the work

=IF(C6="","",C6-D6)

Every Variance cell subtracts Actual from Estimated and stays blank on empty rows. The first line item is row 6, and the formula is pre-copied down to row 45.

=SUM(D6:D45)

The Totals row in D46 adds every actual cost. The matching =SUM(C6:C45) in C46 totals your estimates, so the gap between them is your live over/under.

=IF(B3=0,"",D46/B3)

The Summary block's % of budget spent cell (H10) divides spent-to-date by the approved budget in B3. Conditional formatting turns it red once you cross 90%.

How to use it

Set the approved budget
On the Budget sheet, type your project name in B2 and the approved budget figure in B3. The Summary block on the right reads B3 to compute remaining budget and % spent.
List every cost line
In the table starting at row 6, enter one row per cost in the Item column, then pick a Category from the drop-down in column B. Put your quote or estimate in Estimated.
Enter actuals as money goes out
As invoices and receipts arrive, fill the Actual column. The Variance cell and the Totals row recalculate immediately, and so does the Summary block.
Read the Summary block
Remaining vs approved (H9) shows budget left against B3; % of budget spent (H10) shows how much is gone. Both turn red as warnings — H9 when you go negative, H10 past 90%.
Adjust categories to fit the project
Open the Categories sheet and rename, add, or remove categories in A2:A9. The Category drop-down on the Budget sheet updates automatically.

Compatibility

Microsoft Excel. Excel for Microsoft 365, Excel 2016 and later (Windows and Mac).
LibreOffice Calc. Opens directly — formulas, validation lists, and formatting carry over.
Google Sheets. Upload via File → Import → Upload, or drag the file into Drive and open with Sheets.

The Category drop-downs and the red overspend highlighting survive a Google Sheets import — after uploading, click any Category cell to confirm the drop-down arrow appears.

Frequently asked questions

What's the difference between Estimated and Actual?: Estimated is what you budgeted for a line when the project was approved; Actual is what it really cost once invoices came in. The Variance column subtracts them so you see over/under at a glance.
How do I track remaining budget on this template?: The Summary block does it for you: Remaining vs approved in H9 calculates =B3-D46, your approved budget minus total spent. It turns red the moment you go over the approved number.
How do I add more line items?: Right-click a row number inside the cost table and choose Insert. Adding rows above the Totals row (row 46) keeps the =SUM ranges and the Category drop-downs intact.
Why does the % of budget spent cell turn red?: A conditional-formatting rule flags H10 red once it passes 0.9 (90% of the approved budget). It's an early warning that you're close to the limit while there's still time to act.
Does this project budget template work in Google Sheets?: Yes. In Google Sheets choose File → Import → Upload and pick the file. The formulas, Category drop-downs, and the red conditional formatting all carry over after the import finishes.

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