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:

Description	Debit	Category	Travel SumIf	Office SumIf	Meals SumIf
Rent-A-Car	-50	Travel	-50	-15	-16
Subway	-6	Meals
Microsoft Office	-15	Office
Panda Express	-10	Meals
Rent-A-Car	-35	_______
Subway	-7	_______
Microsoft Office	-15	_______

<tbody>
</tbody>

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.