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We hope last month’s Excel Top Tip helped you in your data analysis, and that you’ve unlocked some new features of Excel that have impressed your colleagues.
This month, we’re exploring the variety of different structures in which Excel data might be presented to you.
Ideally, all users of Excel would follow the same basic guidelines for isolating the input, process and output sections of their spreadsheet, clearly labelling these in separate worksheet areas or tabs. However, we have seen that the training required to embed this practice across all users is rare, particularly amongst insolvency trainees.
Since internalising the structure of an Excel file makes it so much easier to minimise errors and maximise ease of use, it’s worth learning and regularly applying this simple step to new workbooks.
Top Tip #2 – See the structure
The fastest way to see the formulas and therefore the model structure, is to ‘show formulas’:
☝️Your handy keyboard shortcut: Ctrl + `
Use this feature to keep an eye out for:
defined cell values, as opposed to formulas
instances when the worksheet structure may not be intuitive or consistent, and
embedded values within formulas, as opposed to cell references, where these values may change and therefore limit the opportunities to reuse the model
Let us know how you’ve implemented this advice, and share your Excel success with us.
The StatementReader Team