Excel Useful Tips

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Transcript of Excel Useful Tips

  • Excel Tips That Could Save You from Working All Night

  • INTRODUCTORY NOTEWhat is it: The following material was developed for the Excel training program. Target audience: 1st year associates and business analysts, although there is nothing wrong doing this training as well with EMs and APs. Duration: 3-4 hours to walk through the explanations and give everyone a chance to actually practice.Faculty: Since the seniors showed that they can do and therefore they can expect their team members to do the same.

  • EXCEL TIPS THAT COULD SAVE YOU FROM WORKING ALL NIGHT1.Excel Shortcuts: Files 2.Excel Shortcuts: Editing Excel Shortcuts: Getting Around Excel Shortcuts: Formatting .Excel Shortcuts: Menu Excel Shortcuts: Selecting 7.Excel Shortcuts: Miscellaneous 8.IF function9.AND and OR functions10.SUM and SUMIF functions11.Subtotals and Totals12.SUMPRODUCT function13. NPV function14.COUNT functions15.ROUND, ROUNDUP and ROUNDDOWN functions16.VLOOKUP and HLOOKUP functions17.Insert Function command18.Paste Special command19.Auditing features20.Goal Seek add-in21.Solver add-in22.Data tables23.Scenarios add-in24.Pivot Tables25.Protecting cells and worksheets26.Editing multiple worksheets simultaneously27.Conditional formatting28.Autofilter command29.Customize tool bars30.Changing default workbook31.Group and Ungroup your spreadsheet32.Switch off the Microsoft Actors33. Clean up text34. Keyboard shortcuts35. Final thoughts

  • 1. Excel Shortcuts: Files This small group of shortcuts is useful for opening, closing and saving your Excel workbooks.How you use this featureCtrl+S: Save your Excel workbook Ctrl+O: Open an existing Excel workbook Ctrl+N: Create a new Excel workbook ExerciseOpen a new file Excel workbook and save it.zWhy you need to do this

  • Excel Shortcuts: Editing

    Why you need to know thisThese are common shortcuts you will use to edit your Excel workbook. Our favorite shortcut in this list is, quite obviously, Ctrl+Z.Ctrl+C: Copy the current selection to the clipboard. After you copy something, you can paste it with the paste shortcut. Ctrl+V: Paste the current item from the clipboard. Ctrl+X: Cut the current selection and place it on the clipboard, which can be pasted. The difference between cut and copy is that cut will delete your selection, while copy will not. Ctrl+Z: Undo your last change. This is can be repeated to remove again and again to undo many changes. Ctrl+Y: Redo your last Undo. This only is available if you have just issued an Undo command.

    How you use this feature

  • Excel Shortcuts: Getting Around Why you need to know thisThese shortcuts will help you move around your Excel workbooks and worksheets with great ease!Page Up: Move one page up in your worksheet Page Down: Move one page down in your worksheet. Note: The number of rows moved in both page up and page down depend on how many rows are currently displayed. The more rows you have displayed the greater amount the row jump will be when you do a page up/down. Ctrl+Home: Move to the beginning of your worksheet Ctrl+End: Move to the end of your worksheet Tab: Move right one column Shift+Tab: Move left one column Ctrl+Page Up: Go back one worksheetCtrl+Page Down: Go forward one worksheet. Note: If you are not using multiple worksheets in your workbook you will probably not use this shortcut!

    How you use this feature

  • 4. NAME CELLS/RANGESWhy you need to know thisAllows specific cells or cell ranges to be referred to by nameAllows you to write equations such as = Quantity*Cost instead of =$B$12*$C$4Select the cell or cell rangeSelect Insert : Name : Define from the menu barDefine cells A2:A125 as SequenceHow you use this featureExercise

  • 5. SORT COMMANDWhy you need to know thisCorrectly sorting a series of rows or columns without disassociating the data is critical to many modeling effortsHow you use this featureTo sort by single category, just click into column, NEVER highlight column (would destroy table integrity)To use multiple criteria, click any cell of data table, select DataSort Data table will be selectedCan sort by up to 3 categories, use drop lists to select fields, specify A-Z or Z-A

  • 5. SORT COMMAND (CONTINUED)Select Tools/Options/Custom Lists to create specialized sort orders, e.g.To sort months and weekdays according to their calendar order instead of their alphabetic order To rearrange lists in a specific order (such as High/Medium/Low entries)ExerciseIndicate if have Header row, which will not be included in sortSelect Options to use Custom lists (create first, see below)How you use this featureCreate your own sorting list with labels as you like

  • 6. TOGGLING AMONG RELATIONAL AND ABSOLUTE REFERENCESWhy you need to know thisSaves you lots of timeF4 key toggles through the different optionsHow you use this feature

  • 7. FILL DOWN AND FILL RIGHT COMMANDSWhy you need to know thisSaves you lots of timeAllows for copying of cell content to contiguous cells with a single keystrokeSelect the cell with the content to be copied and drag to select the cells to which the content should be copiedCtrl-R to fill rightCtrl-D to fill downDouble-check your formulas for absolute vs. relative references!!Calculate the total daily sales for each storeHow you use this featureExerciseCaution!!

  • 8. IF FUNCTIONWhy you need to know thisConditional comparisons are used in virtually all spreadsheetsKnowing how to use IF in a nested manner and in combination with other functions will save hours of timeIF(Comparison,TrueAction,FalseAction)IF(Comparison,TrueAction,) ==> Cell shows 0 if condition is falseIF(Comparison,TrueAction,) ==> Cell shows blank if condition is falseCreate a Mumbai variable1 if the store is in Mumbai0 if the store is in other placesHow you use this featureExercise

  • 9. AND AND OR FUNCTIONSWhy you need to know thisUsed with the IF function to enable more complicated logical comparisonsAND(Comparison 1,Comparison2,Comparison3,)OR(Comparison 1,Comparison2,Comparison3,)Create a variable that calculates daily sales per branches only for:KFC stores in Mumbai with size larger than 50 branchesAll BK stores

    How you use this featureExercise

  • 10. SUM AND SUMIF FUNCTIONSWhy you need to know thisSUM is used in virtually all spreadsheetsSUMIF can save lots of time in most spreadsheets if you know how to use the functionSUM(Range1,Range2,Value1,)SUMIF(Range,Comparison,SumRange)If a SumRange IS NOT specified, SUMIF sums the cells meeting the Comparison criteria in the specified Range If a SumRange IS specified, SUMIF sums the cells in SumRange where the corresponding cells in Range meets the Comparison criteriaNOTE: The signs must be used for the Comparison valueCalculate the total store space for stores larger than 50 branchesCalculate the total daily sales for all stores larger than 50 branchesHow you use this featureExercise

  • 11. SUBTOTALS AND TOTALSWhy you need to know thisWant to add lines with subtotals in your P&L or balance sheet, but still need to run the total over all numbers? Dont want to get confused with nested subtotals and totals in your spreadsheet?Instead of =sum(range) add =subtotal(9,range) where you need a subtotal or total.You may nest this function as you like. Excel keeps track of everythingCreate a simple column with various numbersAdd various subtotals running over various parts of your spreadsheet and finally over the whole columnExerciseHow you use this feature

  • 12. SUMPRODUCT FUNCTIONWhy you need to know thisIf you need to multiply two column and need the sum of the multiplication, sumproduct comes easy.Insert =sumproduct(range1,range2)Multiply two columns or rows and get the sum of itExerciseHow you use this feature

  • 13. NPV FUNCTIONWhy you need to know thisOf course you can create your own discounting table and then calculate the NPV of your cash flow series or just use the NPV functionInsert =NPV(discount rate,cash flow numbers,...)The discount rate is in percentThe cash flow numbers are either an array or individual numbers in individual cellsAttention: The first cash flow number is in period 1, e.g. the end of the period. If you have for example an initial investment in period 0, just type =NPV()+period 0 payment in your calculationCreate a list of random cash flows and calculate the NPV with the NPV functionExerciseHow you use this feature

  • 14. COUNT FUNCTIONSWhy you need to know thisPrevents you from wasting time counting items manually or creating dummy variables to count such itemsCOUNT(Range1,Range2,Value1,...) ==> count the number of cells containing numbersCOUNTA(Range1,Range2,Value1,...) ==> count the number of non-empty cellsCOUNTBLANK(Range) ==> count the number of empty cells in the rangeCOUNTIF(Range,Criteria) ==> count the number of cells in the Range containing the Criteria. NOTE: The signs must be used for the Criteria valueCalculate the number of KFC stores in the datasetHow you use this featureExercise

  • 15. ROUND, ROUNDUP AND ROUNDDOWN FUNCTIONSWhy you need to know thisMany situations exist when you need to have exact numbers instead of various fractions in your calculations (e.g., there cannot be 536.235 bank branches)ROUND(Number,Digits) ==> Round the number (or cell) to the specified number of digitsIf Digit = 0, then Number is rounded to nearest integerIf Digit > 0, then Number is rounded to the specified number of decimal placesIf Digit < 0, then Number is rounded to the specified number of digits left of the decimal placeROUNDDOWN(Number,Digits) and ROUNDUP(Number,Digits) work the same way as ROUND, but the direction of rounding is specified by the functionCalculate a rounded Avg Sale/Ticket variable, rounding to the nearest 10 WonHow you use this featureExercise