Bookkeeping Formula in Excel using perhaps MATCH and SUMIF Functions?

[mooonpie]

Hi everybody. I'm looking to create a Quickbooks-like excel sheet where I can tag an expense with a specific name and it will auto-populate that same name and sum the amount at the end. What I currently have is the basic =SUMIF($D:$D,"Travel",$C:$C). So what I'm doing is looking at what description is in column B (let's say Rent-A-Car), manually entering "Travel" into column D, then the formula is populating the debit amount in column C (let's say $50). This requires me to manually type "travel" every time I see Rent-A-Car.

What I'm hoping to find out is if I can type "Travel" one-time for Rent-A-Car and some formula will auto-populate "Travel" in Column D for all matching expenses in the formula and sum those totals.

Ex:

[TABLE="width: 500"]
<tbody>[TR]
[TD]Description[/TD]
[TD]Debit[/TD]
[TD]Category[/TD]
[TD]Travel SumIf[/TD]
[TD]Office SumIf[/TD]
[TD]Meals SumIf[/TD]
[/TR]
[TR]
[TD]Rent-A-Car[/TD]
[TD]-50[/TD]
[TD]Travel[/TD]
[TD]-50[/TD]
[TD]-15[/TD]
[TD]-16[/TD]
[/TR]
[TR]
[TD]Subway[/TD]
[TD]-6[/TD]
[TD]Meals[/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[/TR]
[TR]
[TD]Microsoft Office[/TD]
[TD]-15[/TD]
[TD]Office[/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[/TR]
[TR]
[TD]Panda Express[/TD]
[TD]-10[/TD]
[TD]Meals[/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[/TR]
[TR]
[TD]Rent-A-Car[/TD]
[TD]-35[/TD]
[TD]_______[/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[/TR]
[TR]
[TD]Subway[/TD]
[TD]-7[/TD]
[TD]_______[/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[/TR]
[TR]
[TD]Microsoft Office[/TD]
[TD]-15[/TD]
[TD]_______[/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[/TR]
</tbody>[/TABLE]


So in the table above, I'd like to manually enter "Travel" for Rent-A-Car in column C, and it auto-populate "Travel" for Rent-A-Car in column C (underlined in red), which would prompt the SUMIF to add up the amounts in Column B (in this example, add up -50 + -35 = -85 in Column D, Row 2).

Hope that makes sense. This would make my life so much easier as I'm dealing with thousands of transactions. Any help would be highly appreciated!

 

[Fluff]

You could set-up a lookup table with Description & category, and then use either Vlookup or Index/Match, to return the category.