Excel Peer Learning Community

UBI700

OverviewO Peer Learning Communities provide

opportunities to explore resources and tools while connecting with campus peers and discovering better ways of conducting business. Questions and topics will be solicited from registrants prior to the session and discussion topics will be selected based on registrants’ interest. Prior or continuous attendance is not required.

Today’s Topic - Outcome

Today’s Topic:O“Common Excel Functions for Budget Tracking”

3 Simple Ways:OLearn It!OPractice It!OReview It!

OutcomesBy the end of this session, you will be able to…1.Understand how Excel Functions help with budget tracking tools2.How to create a monthly summary running total3.How to use the unique SUMPRODUCT Functions

O Student Assistant Budget Workbook Formulas

4.Learn how to find/trace errors within Excel formulas

Learning FunctionsO All Functions can be found in the Function

Library group on the Formulas tab.

O Today’s Focus – Sum-based Functions O Sum-based Functions are helpful when

tracking:O Hourly wages earned against a budget amountO Departmental Expenses using data extracted

from OBDIEE Revenue & Expense Reports

Why It Matters To YouO Using Functions, creates proficiency, speeds up

analysis, eliminates manual entry, and makes us more comfortable with data that isn't 'perfect'.

O There are times when you want to calculate the budget amount still available for certain expensesO Example:

O Departments may have a need to track the payroll wages earned by student assistants by:

O The total number of hours worked year-to-date (YTD) O Wages paid to all their students for a given month.

O Discover how much of grant dollars has been spent

Excel Function Categories

Common Functions

Today’s Date: CTRL&+ &; is a shortcut for entering the current date (hold down all 3 keys and release.

Note: Putting extra spaces into formulas can cause an error message!

Learning Basic Formulas

O Student Monthly Gross wages:O Hours worked x pay rate

O Budget Balance Available (BBA)O Add: Initial Budget Amount providedO Less: Prior month expensesO Less: Current month expensesO EQUALS Budget Balance Available

Calculating a Running Balance

O Basic Worksheet with Debit and Credit columns

O In this scenario, cell E1 contains our starting balance; Column C contains the debits; and Column D contains the credits.

O Starting Balance Formula in cell E4: =sum(E1,C4,-D4)O Reoccurring Formula in cell E5: =sum(E4,C5,-D5)

Let’s Practice - Running Balance

O In this scenario, cell E1 contains our starting balance; Column C contains the debits; and Column D contains the credits.

O Enter expense amounts in the Credit column (Column D)O Enter the following formulas:

O Cell E4: =sum(E1,C4,-D4) Cell E5: =sum(E4,C5,-D5)O Copy the formula into the balance cell for each new

transaction—use the handle to pull the formula down.

Learning Excel Functions

O Q: How do I add the Amounts in every other column w/o manually putting in the actual cell value?

O A: A Simple Solution would be:O =B4+D4+F4+H4+J4+L4+N4+...etc.O We would have to HOLD DOWN the

CTRL key, click on each cell, add a “+” sign and repeat to make the formula

O Very time consuming!

Learning Excel Functions

O Bigger & Better Function!:O Assuming that for row 1 our range of #'s are

in A1:O1O To add the ODD columns, enter this (no

spaces):=SUMPRODUCT((1-MOD(COLUMN($I$1:$O$1),2))*$I$1:$O$1)

O To add the EVEN columns, enter this (no spaces):=SUMPRODUCT(MOD(COLUMN($I$1:$O$1),2)*$I$1:$O$1)

Practice – Student Assistant Workbook

Auditing for Formula ErrorsO By tracing the relationships, you can test formulas

to see which cells are to blame for:O Incorrect values in the formula of a particular cell,O Non-working formulas in the worksheet

O Direct precedents are cells that directly feed the formulas,

O Dependents are cells that depend on the results of the formulas..

Source: Excel for Dummies, http://www.dummies.com/how-to/content/understanding-excel-2010s-formula-auditing-tools.html

Select the cell that contains the formula result to be traced..

Auditing for Formula Errors

Step 1

To Trace Formula, we have the following steps.

Step 2On the

Formula tab, click in theFormula Auditing group.Then, click on the TracePrecedents.

Auditing for Formula Errors

Step 3

Then, the Formula Precedents will be displayed.

Auditing for Formula Errors

Step 4To remove the formula precedents,Click on Remove PrecedentsButton.

Source: http://www.dotnetheaven.com/article/tracing-formula-in-excel-2010

Precedent and dependent lines are always inserted from or to the active cell. From the active cell:

OTo see what other cells are referenced in the active cell's formula, click the Trace Precedents button.OTo see which other cells contain a reference to the active cell, click the Trace Dependents button.

Let’s ReviewO Common Budget Tracking Functions1.Name some Excel Functions to help with

budget tracking tools?2.What is the formula to create a running

total?3.Why do we use the SUMPRODUCT

Functions?4.In tracing errors, why is Formula auditing

used? What is a dependent? What is a precedent?

O Allyson BatesBusiness AnalystFinancial Servicesabates@fullerton.edu657.278.5298

O Suchi PatelBusiness AnalystAdmin & Finance ITsupatel@fullerton.edu657.278.8265

O Greg SweetUniv. Tax Compliance ManagerFinancial ServicesAdjunct Faculty, Dept. of Accountinggsweet@fullerton.edu657.278.5671

Thank You

Happy Holidays!