Michael Kitces’ Post

Excel - What are the 5 purpose of Excel? Its key features include data entry, management, financial modeling, and charting. Excel is extensively used in finance and accounting for budgeting, forecasting, and analysis due to its robustness and flexibility. So why are people still using it to manage crews, plan work, and manage maintenance? Obviously, you can enter whatever you want and theres no rules and restrictions on structure, BUT and its a BIG BUT ! it's prone to user error, formula deletion, lack of tracking, allow's changes to be made without validation all of which make it unsuitable for the modern railway. It's a bit like eating soup with a fork, it's possible but not the best use of your time and effort. Excel has its place but RTS Solutions wants to see the end of it being used for the wrong purpose and has designed products to help you and your teams plan and manage people, work and machines with intelligent processes and decision-making. So pick up the spoon and make better use of your time 👩🍳 Drop me a message to find out more

🎥 New Video for Excel Beginners: Streamline Your Expense Tracking 🎥 Do you want an easy, quick way to track your expenses without dealing with complicated spreadsheets? My latest video on YouTube walks you through setting up a simple, customizable expense list in Excel. Perfect for personal finance and small business tracking! In the video, I cover: - Fast setup with essential columns like date, category, item, and amount - How to create dropdown menus for easy data entry - Formatting tips to make your sheet more functional and visually appealing Ready to take control of your expenses? Watch the video here: youtu.be/U8s8YOXhgfA 👍 If you found it useful, please 𝗹𝗶𝗸𝗲 and consider subscribing for more Excel tips! #ExpenseTracking #ExcelForProductivity #FinancialManagement #DataOrganization

How to Convert Percentage to Basis Point in Excel - Step by Step Basis Point Calculator Top 5 Key Takeaways from this blog tutorial: 1. Basis points (bps) are essential in finance, representing one-hundredth of a percentage point (0.01%), enabling precise financial analysis. 2. Excel simplifies percentage-to-basis point conversions using straightforward formulas like =A1*10000. 3. Custom formatting in Excel can append "bps" to values while maintaining their numeric functionality for calculations. 4. Basis points are invaluable for analyzing interest rates, investment returns, and loan terms, offering clarity in small percentage changes. 5. Building an Excel tool for converting percentages to basis points enhances efficiency and ensures accuracy in financial decision-making. Read our Free Step-By-Step Blog tutorial which has a downloadable practice workbook and video. Click the link below 👇👇👇 https://lnkd.in/dWeYVv4i 👍 Give us LIKE if you learned from this article ✍️ COMMENT below if you need any questions answered or enjoyed this article 🔄 Share the love with your friends/colleagues by REPOSTING this article with them 👉 CONNECT WITH ME https://lnkd.in/dzSe3_5a for more Free Excel & Office productivity tips #excel #msexcel #microsoftexcel #careerdevelopment #exceltips #exceltipsandtricks #excel101 #worksmarter #followformore #MyExcelOnline

Still using Excel for planning and analysis? Here’s why it’s time to move on… Pretty much every corporate finance professional has grown up with Microsoft Excel. Easy to use, flexible, and familiar, it’s not hard to understand why so many finance teams turn to Excel for pretty much everything. So, if something seems to work, then why change it? If you’re still tied to your spreadsheets, here’s why it’s time to move on… https://lnkd.in/eDc4kdXt

Switching between Excel tabs is KILLING your productivity especially when working with interconnected financial statements. This trick will save you tons of time Here's a real scenario 👇 You're updating the profit and loss, which flows into your cash flow statement (net income) but you're constantly tab switching to verify numbers and check the formulas. 🚫 Don't switch Tabs ✅ Use the DUPLICATE WINDOW feature Go to VIEW > NEW WINDOW Now you have a separate window that is tethered to your first window... any updates you make to your excel file will instantly show on both tabs Pro tip: Duplicate a window and keep each tab on separate monitors 💻 💻 Some things to note: 1. All Freezed Panes and Gridline settings will be erased in your 2nd window. I guess this makes sense since these are "window settings", and you now have a 2nd window 2. If you save your excel file, close and reopen, you'll get both windows. You can just hit the X on the 2nd window and return to a single window excel file (be sure to X out of the 2nd window or your window settings from the first window will be erased) 3. It doesn't have to be 2 windows...you can keep adding as many windows as you want Did you know this trick? And do you want to see more tricks? Let me know in the comments below 👇

How to Round Nearest Multiple of 5 in Excel - Step by Step Guide Top 5 Key Takeaways from this blog tutorial: 1. Rounding numbers in Excel is crucial for simplifying data and ensuring consistency in analysis. 2. The ROUND function is versatile, but I had to use a clever formula to round to the nearest multiple of 5. 3. The MROUND function became my go-to for rounding to specific multiples, like 5, to maintain consistency across datasets. 4. The CEILING and FLOOR functions helped me round numbers precisely up or down to the nearest multiple, which was essential for budgeting and pricing. 5. Handling negative numbers and using special formats like ACCOUNTING in Excel made my data more accurate and professional. Read our Free Step-By-Step Blog tutorial. Click the link below 👇👇👇 https://lnkd.in/e-AFEiGk 👍 Give us LIKE if you learned from this article ✍️ COMMENT below if you need any questions answered or enjoyed this article 🔄 Share the love with your friends/colleagues by REPOSTING this article with them 👉 CONNECT WITH ME https://lnkd.in/dzSe3_5a for more Free Excel & Office productivity tips #excel #msexcel #microsoftexcel #careerdevelopment #exceltips #exceltipsandtricks #excel101 #worksmarter #followformore #MyExcelOnline

Learn EVERY Excel keyboard shortcut Credits to Josh Aharonoff, CPA, follow him for more content. The original post ---- Learn EVERY Excel keyboard shortcut 👇 Hold down these keys and watch the magic unfold 🪄 👉 Print this out for FREE and hang it on your office wall 🔗 https://lnkd.in/eJxcZH2X These are my favorites: ➡️ ONE KEY ⬜ Esc - Exit edit mode ⬜ F1 - Help ⬜ F2 - Edit ⬜ F3 - Name Manager ⬜ F4 - Fix references ⬜ F5 - Goto ⬜ F6 - Switch ⬜ F7 - Spelling ⬜ F8 - Extend ⬜ F9 - Calculate ⬜ F10 Key tips ⬜ F11 Charts ⬜ F12 - Save as ⬜ Tab - Go to next cell ⬜ Enter - move down ⬜ End - Move to end ⬜ Alt - Key tips ⬜ Home - Move to beginning ➡️ CTRL SHORTCUTS ⬜ ` - Toggle value ⬜ 1 - Format ⬜ 9 - Hide rows ⬜ 0 - Hide columns ⬜ - - Delete row / column ⬜ + - Insert row / column ⬜ R - Cill right ⬜ T - Create Table ⬜ Y - Redo ⬜ D - Fill down ⬜ F - Find ⬜ G - Go to ⬜ H - Replace ⬜ K - Hyperlink ⬜ : - current date ⬜ PGUP - Go to previous tab ⬜ PGDN - Go to next tab ⬜ Arrows - jump to next / last active cell ⬜ Space - select entire column ➡️ ALT SHORTCUTS ⬜ F4 - Exit ⬜ = - Autosum ⬜ Down arrow - Data validation ➡️ SHIFT SHORCUTS ⬜ Arrows - Highlight cells ⬜ F11 - New worksheet ⬜ Space - Select entire row ➡️ CTRL + SHIFT SHORTCUTS ⬜ # - Date format ⬜ @ - Time format ⬜ ~ - General format ⬜ ! - Comma format ⬜ % - Percentage format ⬜ $ - Dollar Format ⬜ : - Current time ⬜ V - paste values ---- Follow our page Excel for CFOs to learn more about Excel in Finance & Accounting.

Mastering Microsoft Excel can be useful to boost your company's financial management 🧑💻 I talk about it a little, in my new article this week: "How to use Microsoft Excel for financial management: Tips for young professionals". Discover concrete tips to transform your tables into powerful management tools. Don't miss this opportunity to improve your skills! 🚀 Share this post with someone who might be interested 👉: https://lnkd.in/e-Zs3p5i #excel #microsoftexcel #exceltips #msexcel #learnexcel #exceltricks #excelshortcuts #exceltraining #excelbasico #excelformulas #exceltutorial #excelfunctions #cursodeexcel #spreadsheets #exceltipsandtricks #aprenderexcel #vlookup #excelavançado #msexceltraining #planilhas #powerbi #excelskills #msexceltips #exceltutorials #excelvba #spreadsheet #tutorialexcel #powerpoint #microsoftoffice #pyspark

Mastering Excel: A Step Closer! I recently completed an Excel exercise from Codebasics, focusing on creating a Monthly Expense Tracker. This exercise helped me sharpen my skills in organizing financial data, tracking income sources, and setting savings targets. Excel is a powerful tool for personal and professional financial management, and this hands-on experience was incredibly valuable. #excelskills #datamanagement #financialplanning #continuouslearning

📢 New Tutorial Alert! 📢 We are excited to announce our latest YouTube video and blog post on Monthly Budget Tracker in Microsoft Excel. Learn how to manage your finances efficiently with our comprehensive guide and download the practice file for hands-on experience! 🎥 Watch the YouTube tutorial: https://lnkd.in/gxapiTfG 📄 Read the blog post and download the file: https://lnkd.in/gkCBd9sF Advantages: Customizable: Tailor the tracker to fit your financial needs. Automated Calculations: Save time and reduce errors. Visual Insights: Easily analyze your financial status with dynamic charts. #excel #exceltips #exceltraining #exceltraining #excelskills #exceltricks #excelonline #office365 #msexcel #msexceltraining #msoffice #templates #templatedesign #template #advancedexcel #advanceexcel