Straightforward, but not sure which function to use

[bmw4life]

Hello All,

I'm a fairly light excel user and am looking to do the following with the set of data below:

Beginning Balance BofA: $1,000
Beginning Balance WF: $1,500

[TABLE="width: 500"]
<tbody>[TR]
[TD]Amount[/TD]
[TD]Type[/TD]
[/TR]
[TR]
[TD]-2[/TD]
[TD]BofA[/TD]
[/TR]
[TR]
[TD]10[/TD]
[TD]Wells Fargo[/TD]
[/TR]
[TR]
[TD]12[/TD]
[TD]BofA[/TD]
[/TR]
[TR]
[TD]-5[/TD]
[TD]Wells Fargo[/TD]
[/TR]
</tbody>[/TABLE]

I'm looking to have a running balance for 2 bank accounts (BofA and Paypal), as I record certain transactions. I was looking to have the column for "Type" to pull the corresponding amount and add or subtract it from the Beginning Balance - in that sense always having a running balance which is accurate based on recorded transactions.

How would I do this in an efficient way and which function would be best suited?

Thanks in advance!

 

[sheetspread]

sumif:

Excel 2010
	A	B	C	D
1
2	BofA	1000	10	1010
3	Wells Fargo	1500	5	1505
4
5	Amount	Type
6	-2	BofA
7	10	Wells Fargo
8	12	BofA
9	-5	Wells Fargo
Sheet4

Cell Formulas
Range	Formula
C2	=SUMIF($B$6:$B$9,A2,$A$6:$A$90)
D2	=B2+C2

or you could set a pivot table

 

[bmw4life]

thanks!