For small and starter businesses the importance of a consistently and continuously updated record of accounts is essential. Staying on top of such book work will only benefit you in time and money. One of the most common ways to do this however is with the classic office excel. Those tiles can be daunting but once you get to know them you will be entering data like a pro. You might consider Excel to be ‘old school’ and that there would be far better programs by now; this may be true for some applications but people always end up coming back to the classics for a lot of particular uses. This is why it is important to maintain knowledge in such software; because it is so versatile.
Excel contains multiple different ways to calculate numbers and everyone has their own techniques and what they think is faster. Knowing the basic functions in depth though will let you discover what works for you faster. As seen to the right, the simple calculation of which cells you want calculated with which other cells is visualised. The formula represents the two data locations and also what needs to be done to each of them. This is just a small example but you can easily see that if you wanted to multiply the numbers together or divide then simply changing the input from ‘+’ to ‘*’ or ‘/’ would function.
Putting in date and numerical headings can take a long time if your simple inputting them one-by-one. Compare that by just clicking and dragging the data to the number or date you need. As seen in the image, simply typing two variables, in this case numbers, and hovering over the bottom right corner will show a black cross. Clicking and dragging to the desired amount of numbers is all it takes.
One must not overlook the necessity of visuals; Here at Nudge, we proud ourselves on our ability to use business orientated data and transform it into valuable stimulating information. (Visuals that are far better in design and information conveying than excel. Looking at row and columns of numbers will sooner give you a headache than an answer to your company’s financial future. Consider your future self when setting up a data sheet. Would you want to look at a greyscale page filled with uncorrelated numbers, or would you prefer to quickly and simply visually understand where to look with the use of representable colours and graphs?
The more you ‘get-to-know’ and familiarise yourself with the layout of your complicated spreadsheet, the faster you will do it. It is that simple. For example, there are multiple free templates out there that others have created to promote such seamless systems. Such as: https://www.smartsheet.com/top-excel-accounting-templates That being said, downloading templates may work for you and it may not, creating your own will allow you establish what you do and don’t want within the data. As you build and contribute to it, you will learn faster than if you were to download one straight from the web. It is important to consider both options however.
Graphics and titles with colour combine to reinforce a professional and appealing look and feel to your spreadsheets. Everyone can agree that looking at a graph is much more visually stimulating compared to looking at lines and lines of numbers. It is simple enough to create graphs with the data you have. Just select the rows or columns you want correlated and then press which visual/graph you deem most appropriate for the data.
These are just a few of the ways that you can maximise excel efficiency. They will combine to ensure a fast and user friendly format for which quick information can be inputted and also it.