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excel tips

More Excel Tips for Accountants

Excel is one of the most widely used programs in the accounting industry. While most finance professionals have a general understanding of the program, there is always room to learn a few more Excel tips and tricks that make using Excel a little easier.

Fill Cells Quickly

One of the most helpful Excel tips is learning how to fill cells as quickly as possible. You can format rows, columns, and various cells. Once you’ve created the format you like the best, you can apply it to other cells quickly by using the painter function. You can accomplish this by double-clicking on the format painter icon. You can then lock the function and single-click on any parts of the spreadsheet that you want to format.

Additionally, for larger portions of data, you can use this series of quick-fill functions:

  • Time Format: Ctrl+Shift+@
  • Date Format: Ctrl+Shift+#
  • Currency Format: Ctrl+Shift+$
  • Percentage Format: Ctrl+Shift+%
  • Scientific/exponential Form Format: Ctrl+Shift+^

Splice Data

Splicing is a helpful function that allows you to filter data quickly and easily. To do this, select any range in a table or PivotTable, and then go to Insert > “Slicer,” in the top right corner. Finish by selecting the column you would like to splice.

Formula-Free

Creating equations can be time-consuming. Fortunately, Excel 2019 allows you to get a sum without a formula. To do so, click anywhere inside the Excel table. Then press Ctrl+Shift+T, and Excel will add the total to your total row. This allows you to quickly access the sum without having to provide an equation that may only be used once in the entire document.

Hide Zero Values

In a large spreadsheet, hiding the zero values can come in handy. You’ll be able to evaluate the data more efficiently without seeing values that mean nothing. To hide zero values, click the “File” drop-down menu, and choose “Options.” Then select “Advanced” from the left-hand menu and uncheck the box for “Show a zero in cells that have zero value.”

For additional Excel tips, check out Excel for Budgeting & Planning

excel

Excel for Budgeting & Planning

Most financial professionals have used Excel at some point in their careers. After all, it is widely accepted by the accounting and finance community as the one of the simplest budgeting and planing solutions. However, it’s important to evaluate the pros and cons as a way to ensure that you are using this tool in the most effective way.

Pros of Using Excel

One of the most obvious pros for using excel is how commonly it is used. Most, if not all, financial professionals have used it for budgeting and planning already. In many ways, this streamlines the exchange of information and makes it easier for everybody to be on the same page.

There is no denying how flexible it is to use Excel. There are many functions available that allow people to customize their budgets in a way that is most useful for their particular company. While it is incredibly familiar to many professionals, it’s also easy to adjust in order to get the most for their particular needs.

Cons of Using Excel

The biggest pain point for using Excel boils down to its lack of features, primarily for the financial sector. Some of the most missed features include system integration, data scalability, and version control.

However, while it may seem like a no-brainer to simply resort to an enterprise solution, there are a slew of additional concerns to weigh. For example, most financial professionals already knew Excel well before they entered the workplace. A new system will require upfront costs, additional training, and across the board integration. This boils down to more cost and time.

The Best of Both Worlds.

Perhaps the solution is a system that incorporates Excel into the integration. A new eBook presented by Vena Solutions titled Enterprise Budgeting & Planning with Excel for Dummies teaches financial professionals how to use both the new and old systems in ways that complement each other.  This combination could be just the ticket, when it comes to implementing an improved system with more sophisticated options.

You may also enjoy, Where is Technology Taking Auditing and Accounting?