35 Excel Tips
That Could Save
You from Working
All Night
What 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.
Final comment: The original material was not intended for self-study
purposes and therefore may be a little be too brief and cryptic in some cases. In case you have any improvement ideas please feel free to e-mail them to the author. Thank you: We‘ve received great feedback and many ideas how to improve this document. Thanks.
35 Excel Tips
1.Split windows and freeze panes
2.Hide and Unhide command
3.Moving around a spreadsheet with Ctrl, Sh ift, and Arrow keys 4.Name cells/ranges
5.Sort command
6.Toggling among relational and absolute r eferences
7.Fill down and fill right commands
8.IF function
9.AND and OR functions
and SUMIF functions
11.Subtotals and Totals
12.SUMPRODUCT function
13. NPV function
14.COUNT functions
15.ROUND, ROUNDUP and ROUNDDOWN functions
16.VLOOKUP and HLOOKUP functions
17.Insert Function command
18.Paste Special command
19.Auditing features
Seek add-in
21.Solver add-in
tables
23.Scenarios add-in
24.Pivot Tables
25.Protecting cells and worksheets
26.Editing multiple worksheets simultaneously
27.Conditional formatting
28.Autofilter command
29.Customize tool bars
30.Changing default workbook
31.Group and Ungroup your spreadsheet
32.Switch off the Microsoft Actors
33. Clean up text
34. Keyboard shortcuts
35. Final thoughts
•Splitting a window allows you to work on multiple parts
Why you of a large spreadsheet simultaneously
need to •Freezing the pane allows you to always keep one part of know this the spreadsheet (e.g., column or row labels) visible
•Drag the split horizontal and split vertical icons to the
How you desires positions
use this •Click on the freeze pane icon from the tool bar to freeze feature the panes
Freeze pane icon
Split screen icons
•Split the screen so that:
–The row with column labels shows up in the top pane
–The column with store names show up in the left pane
•Freeze the panes 35 Excel Tips
•Allows you hide and unhide particular rows or
Why you columns
need to –Simplifies working with the spreadsheet know this –Prevent certain information from being seen
•Select the row(s) or column(s) to be
How you hidden/unhidden
Column : Hide/Unhide
•Hide the Avg Sale/Ticket column
35 Excel Tips
•Save you lots of time
Why you •Move the first or last cell of a contiguous data block need to without scrolling know this
How you •Ctrl-Arrow : Move to the first/last data cell in the arrow use this direction
feature •Ctrl-Shift-Arrow : Selects the cells between the current cell and the first/last data cell
•Select all cells with data using the Ctrl, Shift, and Arrow keys
35 Excel Tips
•Allows specific cells or cell ranges to be referred to by
Why you
name
need to •Allows you to write equations such as = Quantity*Cost know this instead of =$B$12*$C$4
How you •Select the cell or cell range
use this •Select Insert : Name : Define from the menu bar feature
•Define cells A2:A125 as “Sequence”
35 Excel Tips
Why you •Correctly sorting a series of rows or columns
need to without disassociating the data is critical to many know this modeling efforts
•To sort by single category, just click into column, NEVER How you highlight column (would destroy table integrity) use this •To use multiple criteria, click any cell of data table, select
feature Data…Sort
Can sort by up to 3 categories, use drop lists to select fields, specify A-Z or Z-A
•Indicate if have Header row, which will not be included in
How you sort
use this •Select Options to use Custom lists (create first, see below) feature
•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)
•Create your own sorting list with labels as you like
35 Excel Tips
Why you
need to •Saves you lots of time know this
How you
use this •F4 key toggles through the different options feature
•Saves you lots of time
•Allows for copying of cell content to contiguous cells with a single keystroke
•Ctrl-R to fill right
•Ctrl-D to fill down
•Double-check your formulas for absolute vs. relative references!!
•Calculate the total daily sales for each store
Why you •Conditional comparisons are used in virtually all
need to spreadsheets
know this •Knowing how to use IF in a nested manner and in combination with other functions will save hours of time
How you •IF(Comparison,TrueAction,) ==> Cell shows 0 if use this condition is false
feature •IF(Comparison,TrueAction,””) ==> Cell shows blank if
condition is false
•Create a “Mumbai” variable –1 if the store is in Mumbai –0 if the store is in other places
Why you
need to •Used with the IF function to enable more complicated know this logical comparisons
How you •AND(Comparison 1,Comparison2,Comparison3,…) use this •OR(Comparison 1,Comparison2,Comparison3,…)
feature
•Create a variable that calculates daily sales per branches only for:
–KFC stores in Mumbai with size larger than 50 branches
–All BK stores 35 Excel Tips
Why you •SUM is used in virtually all spreadsheets
need to •SUMIF can save lots of time in most spreadsheets if you know this know how to use the function
•SUM(Range1,Range2,Value1,…) How you •SUMIF(Range,”Comparison”,SumRange) use this –If a SumRange IS NOT specified, SUMIF sums the cells feature 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 criteria
•NOTE: The “” signs must be used for the Comparison value
•Calculate the total store space for stores larger than 50 branches
•Calculate the total daily sales for all stores larger than 50 branches
35 Excel Tips
•Want to add lines with subtotals in your P&L or balance
Why you sheet, but still need to run the total over all numbers? need to
Don’t want to get confused with nested subtotals and know this totals in your spreadsheet?
•Instead of ‘=sum(range)’ add ‘=subtotal(9,range)’ where How you you need a subtotal or total. use this •You may nest this function as you like. Excel keeps track feature of everything
•Create a simple column with various numbers
•Add various subtotals running over various parts of your spreadsheet and finally over the whole column
35 Excel Tips
Why you
_{need to} •If you need to multiply two column and need the sum of _{know this} the multiplication, sumproduct comes easy.
How you
use this •Insert =sumproduct(range1,range2) feature
•Multiply two columns or rows and get the sum of it 35 Excel Tips
•Of course you can create your own discounting table and
Why you then calculate the NPV of your cash flow series or just need to use the NPV function know this
•Insert =NPV(discount rate,cash flow numbers, ) How you •The discount rate is in percent
use this •The cash flow numbers are either an array or individual feature numbers in individual cells
•Attention: 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 calculation
•Create a list of random cash flows and calculate the NPV with the NPV function
35 Excel Tips
Why you
need to •Prevents you from wasting time counting items manually know this or creating dummy variables to count such items
•COUNT(Range1,Range2,Value1, ) ==> count the number
How you
use this •COUNTA(Range1,Range2,Value1, ) ==> count the feature number of non-empty cells
•COUNTBLANK(Range) ==> count the number of empty cells in the range
•COUNTIF(Range,”Criteria”) ==> count the number of cells in the Range containing the Criteria. NOTE: The “” signs must be used for the Criteria value
•Calculate the number of KFC stores in the dataset
35 Excel Tips
Why you •Many situations exist when you need to have exact need to numbers instead of various fractions in your calculations know this (e.g., there cannot be 536.235 bank branches)
•
How you ROUND(Number,Digits) ==> Round the number (or cell) use this to the specified number of digits
– feature If Digit = 0, then Number is rounded to nearest integer –If Digit > 0, then Number is rounded to the specified number of decimal places
–If Digit < 0, then Number is rounded to the specified number of digits left of the decimal place
ROUNDUP(Number,Digits) work the same way as
ROUND, but the direction of rounding is specified by the function
•Calculate a rounded Avg Sale/Ticket variable, rounding to the nearest 10 Won
35 Excel Tips
•Allows you to automatically lookup a particular cell of
Why you data from a larger data range. This is especially useful need to when you have
^{know this } –A large data section that contains information for multiple records somewhere on the spreadsheet (e.g., a small database)
–A calculation area somewhere else, and you need to refer to some specific data elements for specific
Continued
35 Excel Tips
• VLOOKUP and HLOOKUP allows you to find a specific cell of data How you in a larger data range
use this – Use VLOOKUP when each row contains a separate record and feature the associated columns contain data for that one record
– Use HLOOKUP when each column contains a separate record
• VLOOKUP(SearchValue,Range,ColumnNumber,Error) ==> look for a value in the row specified by SearchValue and the column specified by ColumnNumber
– SearchValue indicates the “match key” (i.e., find the row that contains the SearchValue in the first column)
– Range specifies the cells containing the data
– ColumnNumber specifies the column that contains the data element you want
– Error determines what happens when Excel does not find the exact SearchValue you want. FALSE leads Excel to display a #N/A when an exact match cannot be found. TRUE leads Excel
Previous to display the next smaller value than SearchValue
• HLOOKUP(SearchValue,Range,RowNumber,Error) ==> look for a
_{Continued } value in the column specified by SearchValue and the row specified by RowNumber
NOTE: The 1st column of data must be sorted in ascending order when using VLOOKUP, and the 1st row of data must be sorted if using HLOOKUP
35 Excel Tips
•Define a name for the cells containing the data and use that name as the Range. Do not include the row/column label in the named range because this would break the ascending sort rule above.
•Insert an extra row above your column label to number the columns
•Use VLOOKUP to find out how many seats are in the KBN store? How many passers-by for the store?
•Previous Continued
35 Excel Tips
Need to sort in ascending order for VLOOKUP function to work properly
35 Excel Tips
•Previous
Why you
need to •What do you do if you do not know what functions are know this available or how to enter the arguments for a function?
•
How you Select the cell
• use this Select Insert : Function from the menu bar feature
•Calculate the median daily ticket count for all the stores
35 Excel Tips
• Saves you lots of time
Why you – Retyping formulas need to – Converts formulas into values know this – Reformatting cells
– Transposing cells (i.e., convert row-entered data blocks into column-entered ones)
• Copy the cells of interest
How you • Place the cursor where you want to past the information use this • Select Edit : Paste Special from the menu bar feature • Select the appropriate options from the dialog box that appears
• Convert the Rounded Avg Sale/Ticket calculations into values (i.e., get rid of the formulas)
• Copy and paste the entire dataset into a new spreadsheet in transposed manner
35 Excel Tips
Why you •Quickly find the cells referenced by a formula and/or need to quickly find which cells reference a particular cell of know this interest
•Select View : Toolbars : Customize from the menu bar.
How you
Check the Auditing box from the Toolbars tab
use this •Click on the cell of interest
feature •Select the Trace Precedents or Trace Dependents icon
•Find the cells that references the Daily Ticket Count for the Shopers Stop store
35 Excel Tips
Why you •Easily find what one input variable needs to be to need to achieve some desired result in a calculation know this
How you •Select Tools : Goal Seek from the menu bar use this •Enter the desired resulting calculation into the “To feature
•Enter the input cell in the “By changing cell:” form
•How many additional daily tickets would the Inorbit store need to have a total daily sales of 2,000,000 Won?
35 Excel Tips
•Allows you to use linear programming to find the optimal
Why you inputs to achieve some desired calculational result (e.g., need to maximize revenues by increasing daily tickets, know this
increasing store size, average sale/ticket, etc.
simultaneously)
•Use Solver instead of Goal Seek when:
–You need to place constraints on the input variable
(e.g., cannot open a store for more than 24 hours a day)
–More than 1 input variables are involved
–You want to minimize or maximize the resulting calculation in addition to just setting the calculation to a predetermined value
Continued
35 Excel Tips
•Select the final calculated cell, then select Tools : Solver
How you from the menu bar
use this •Select what you want to do from the “Equal to” section feature
(i.e., maximize, minimize, or set to a specific value)
•Reference the input cells (note, separate cells by using a comma or “:” if cells are contiguous
•If the input values have constraints, click on Add to enter the constraints
•Click on Solve
•What is the maximum daily sales per branch for the KFC store if:
–The store can be opened a maximum of 18 hours/ day, 7 days/week
–Store size can expanded up to a maximum of 87
branch Previous 35 Excel Tips
Why you • Simplest way to run sensitivity analyses need to know this
• Input the values you want to test for a particular variable on
How you separate rows (e.g., A6:A13)
use this • In the cell above and to the right of the first sensitivity value, feature reference the final result of your calculations (e.g., A5 = C3)
• Select the cells containing the calculation and input variables (e.g., A5:B13)
• Select Data : Tables from the menu bar
• Input the cell referenced by the formula in the“Column input cell”(e.g., A2). This example uses in “Column input cell” because the value to test in the sensitivity analysis are arranged in a single column
•What daily total sales would the KFC store have its daily ticket counts ranged from 400 to 600 each day (in increments of 50)?
Why you • You’ve created a model and need to run various scenarios. Then need to use the scenario function under the tools menu. Keeps your inputs and outputs from the model nicely together know this
• Assign names to the excel cells that act as input parameters for
How you your model
use this • Start the scenario function by selecting Tools : Scenarios from feature the menu bar.
• Click Add to enter your first scenario
– Create a name
– Select ALL cells that will be your input to the model.
• Assign the desired scenario value to each input parameter.
• Add more scenarios as needed
• When finished click on summary and select scenario summary (the pivot table is not so helpful)
Objective:
You want to build a simple model to understand under which scenarios Airbus should build the A3XX a next generation super large airplane with more than 600 seats
Simple model:
Profit = number of planes sold x price x margin - development cost
Scenarios | Worst case | Realistic | Best case |
No. of planes | 200 | 350 | 500 |
Price (million. USD) | 120 | 130 | 150 |
Margin | 20% | 25% | 30% |
R&D | 13 billion USD | 12 billion USD | 11 billion USD |
• Most powerful tool to arrange huge amounts of data in a more structured way than pure sorting. In particular helpful to run quick sums, averages, distributions, etc. in combination with a structure criteria, e.g. total number and average sales per store size band
• Select Data: PivotTable Report…
Step 2: Select • Step 3: Drag and drop data elements
^{Step 1: Microsoft } the relevant on row and column (this is your table ^{Excel list } data area structure), the data you want to
analyze on the data area
• Step 4: Just press Finish
•Draw a distribution chart for the number of stores per size in branches bucketed each 10 branch wide
•Arrange the store distribution by store size (each 10 branch) and daily tickets (each 100 tickets) and show the number of stores per each category
Why you • Sometimes you want to give your Excel file to someone else and need to prevent them from changing the formulas for seeing some hidden cells know this
• Protecting a spreadsheet or workbook involves two steps How you – Designating which cells to be locked or hidden use this – Protecting the spreadsheet or workbook feature • Note several weird peculiarities:
– The default for all cells in a spreadsheet if LOCKED. So if you want the receiver of your worksheet to change the content of a cell, unlock the cell before protecting the spreadsheet
– The formulas in a cell can be seen even if the spreadsheet is lock -- UNLESS you hide that cell before protecting the spreadsheet
• To lock/unlock and hide/unhide a cell, select the cell(s) and select Format : Cell. Select the Protection tab when the dialog box appears
• To protect/unprotect a spreadsheet, select Tools : Protection : Protect Sheet
• Protect the dataset spreadsheet
– Allow the user to change the data
– Lock and hide the formulas you entered
Why you
need to •Avoid having to redo your work on multiple spreadsheets know this in a single workbook
How you •Select the first spreadsheet to be edited use this •Hold the Ctrl key while clicking on the additional feature spreadsheets
•Do your editing
•Try it
Why you •Sometimes you would to color the output of cells in need to different colors, e.g. negative numbers in red, positive know this numbers in black, or add a frame, etc.
•Mark the relevant fields and select Format: Conditional
use this •Select the criteria for the format and adjust the format.
feature You can actually change the font, the border and the color •Click on Add to select additional criteria for the formatting
•Format a cell to be in red font, with blue background for negative numbers and in bold font with thick border, if the value is above 10
Why you •You have a huge pile of data and quickly want to find need to some specific information, e.g. all sets that meet a criteria know this or the top 10 items etc.
•Click into your table or better mark the data area and How you select Data: Filter: Autofilter
use this •Using the drop-down boxes per item allows you to feature display only specific filtered information
•Selecting multiple matches (up to 3 maximum with autofilter) you can narrow down your search
•Or add your own criteria for filtering by clicking on the custom criteria
•Find the stores who belong to the top 10% in terms of average sales per ticket AND the top 10 in terms of store size in branch
•How many icons on the tool bar to you use regularly? Why you •How often do you have to use the menu bar or mouse to need to do something you wish were accessible with a single know this click?
How you •Click on the Commands tab use this •Drag items on and off the toolbar as you wish feature
OR
•Right click toolbar area
–Select Customize
–Select Commands tab in Customize dialog box
–From appropriate menu, find the command for which you want to add button
–Drag button to location on toolbar
•Other favorites How you use this
• featurePaste values
• Select visible cells
• Save as
• Show comment (toggles it)
• Set print area
• Page setup
• Merge cells
• Auto filter
•Modify your toolbar as desired
•How often do you use the menu bar to change the normal
Why you font or number formats?
need to •You can create the basic number and font formats you know this use regularly, save it as a template, and have Excel use that template every time you create a new workbook
How you •Create a workbook with the formatting you use regularly use this and save it under the name “Book” and Template format feature •Move the “Book” template to the Microsoft Office : Office : Xlstart folder
•Create your default workbook
•How often would you like to hide or unhide parts of a
Why you complex spreadsheet?
need to •If your answer is “very often”. You will like to know this group/ungroup function instead of the hide/unhide command, since you will be able to toggle between hidden or displayed columns or rows. •Mark the row or column that you would like to “fold”, i.e.
How you hide for the moment.
feature •To “fold” click now on the “minus” sign outside of your
column or row
•You may also group or ungroup hierarchically
•Use the two “arrow” buttons, which you find on the pivot table toolbar (right click on any toolbar and select PivotTable)
Why you •Also find the Microsoft Actors more disturbing than need to helpful?
know this •Always popping up at the wrong moment
How you •Excel 97 use this –Start the Windows Explorer feature –Go to the directory Program Files: Microsoft Office: Office: Actors
–Rename the directory “Actors” to “Dead Actors” •Excel 2000
–Go to Tools : Options : Edit and switch off „Provide feedback with animation“
•Try to eliminate the Actors
•Often clients have data on their mainframe. The best you
Why you can get for your PC is a text file dump. This trick will help need to you see through the data „mess“ you‘ve received. know this
How you •One easy method to split text into separate columns is the
use this Data/Text to Column Wizard
feature –Select the cells
•Check that Excel choose correct setting, change as
How you
needed use this feature
^{How you } •Click finish
use this feature
•Be sure the are enough empty columns for your conversion at the destination or Excel will OVERWRITE the contents of the cells
•Split data appears in 2 columns
Alt + ‘
Ctrl + Shift + ~
Ctrl + Shift + $
Ctrl + Shift + % Ctrl + Shift + !
Ctrl + Shift + &
Ctrl + Shift + _
Ctrl + b
Ctrl + i
Ctrl + u
Ctrl + 9
Ctrl + Shift + 9
Ctrl + 0
Ctrl + Shift + 0
Ctrl + 1
Ctrl + 5
Shift + Space
Ctrl + Space
•Display the style dialog box
•General Num. Format
•Currency format
•Percentage format
•Comma format
•Outline border
•Remove borders
•Bold
•Italic
•Underline
•Hide rows
•Unhide rows
•Hide columns
•Unhide columns
•Format Dialog Box
•Strike Through
•Select the entire row
•Select the entire column
Ctrl + a Ctrl + x/c/v Ctrl + d/r CTRL+SHIFT+* SHIFT+ arrow key CTRL+SHIFT+ arrow key SHIFT+HOME CTRL+SHIFT+HOME CTRL+SHIFT+END | •Select the entire worksheet •Cut/copy/paste •File cells down/right •Select the current region around the active cell (the current region is an area enclosed by blank rows and blank columns) •Extend the selection by one cell •Extend the selection to the last nonblank cell in the same column or row as the active cell •Extend the selection to the beginning of the row •Extend the selection to the beginning of the worksheet •Extend the selection to the last cell used on the worksheet (lower-right corner) |
Ctrl + F4 •Closes workbook window
Alt + F4 •Closes Excel
Ctrl + F10 •Maximizes the workbook
Ctrl + F9 •Minimizes the workbook
Ctrl + F5 •Restore window size
F6 •Next pane
Shift + F6 •Previous pane
Ctrl + F6 •Next window
Ctrl + Tab •Next window
Shift + F11 •Inserts a new sheet
F11 •Create a Quick Chart Sheet
Ctrl + s •Saves the workbook
F12 •Saves As
Ctrl + o •Opens a workbook
Ctrl + n •Creates a new workbook
Alt + F8 •Macros Dialog Box
Alt + F11 •Visual Basic Editor
ALT + TAB
CTRL + TAB
CTRL + Page Up/Page Down
CTRL + Home/End
CTRL + arrow key
•Switch between applications
•Switch between open Excel files
•Go to previous/next worksheet
•Go to the first/last cell of the worksheet
•Go to the next empty cell
Ctrl + ‘ ( ~ ) Ctrl + [
Ctrl + Shift + { Ctrl + ]
Ctrl + Shift + }
F9
Shift + F9
F2
•Toggle formula display
•Selects cells directly referred to by formulas
(Precedent Cells)
•Selects directly and indirectly referred to cells •Selects only cells with formulas that refer directly to the active cell (Dependent Cells)
•Selects all cells within formulas that directly or indirectly refer to the active cells
•Calculate all worksheets
•Calculate worksheet
•Toggle cell edit mode
SHIFT+BACKSPACE
SHIFT+PAGE DOWN
SHIFT+PAGE UP
CTRL+SHIFT+SPACEBAR
CTRL+6
CTRL+7
•If multiple cells are selected, select only the active cell
•Extend the selection down one screen
•Extend the selection up one screen
•With an object selected, select all objects on a sheet
•Alternate between hiding objects, displaying objects, and displaying placeholders for objects
•Show or hide the Standard toolbar
;;; #, &#,##0.00_);(&#,##0.00) #,##0_);(#,##0);---;•@ | •Hides the contents of a cell •Displays numbers in thousands. (e.g., 1,000,000 displays 1,000) •1000 = &1,000.00 •-1000 = (&1,000.00) •1000 = 1,000 •-1000 = (1,000) |
• £ ¥ ™ © ¼ ½ ¾ Ctrl + F3 | •Alt + 0149 •Alt + 0163 •Alt + 0165 •Alt + 0153 •Alt + 0169 •Alt + 0188 •Alt + 0189 •Alt + 0190 •Define Name (Range Name) |
• Structure, structure, structure. Should know this anyway, since you‘re ED keeps telling you this every day
• Keep Inputs, Processing and Outputs on different worksheets of your Excel file (IPO principle) • Name universal variables, e.g., WACC instead of $AH264
• Use color-coding, but don‘t overdo it. Excel is not a crayon-box.
• Save cautiously, but frequently. Keep different versions and backup (network, floppy disk). We‘ve seen too many models disappearing the night before the progress review. The 35 Excel tricks won‘t help then any more.