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Excel Like A Pro Part III

This is the final of a three-part series about using Microsoft Excel 2016. It will cover some of the more advanced topics. If you aren’t great with numbers, don’t worry. Excel does the work for you. With the 2016 version of Excel, Microsoft really upped its game. Excel’s easy one-click access can be customized to provide the functionality you need.

Wish That You Could Use Excel Like A Pro? Now You Can!

If you haven’t read Part I and Part II of this series, it’s suggested that you do so. The webinar versions can also be found on our site or on YouTube.

This session will discuss the following:

More with Functions and Formulas

  • Naming Cells and Cell Ranges
  • Statistical Functions
  • Lookup and Reference Functions
  • Text Functions

Documenting and Auditing

  • Commenting
  • Auditing Features
  • Protection

Using Templates

  • Built-In Templates
  • Creating and Managing Templates

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More With Functions And Formulas

Naming Cells And Cell Ranges

How do you name a cell? You do so by the cell’s coordinates, such as A2 or B3, etc. When you write formulas using Excel’s coordinates and ranges you are “speaking” Excel’s language. However, this can be cumbersome. For example, here G12 is significant because it refers to our Team Sales.

You can teach Excel to speak your language by naming the G12 cell Team Sales. This will have more meaning to you and your teammates. The benefits of naming cells in this fashion are that they are easier to remember, reduce the likelihood of errors, and use absolute references (by default).

Wish That You Could Use Excel Like A Pro? Now You Can!

To name our G12 cell Team Sales, right-click on the cell, choose Define Name, and type “Team Sales” into the dialog box. You can also add any comments you want here. Then click Ok.

Wish That You Could Use Excel Like A Pro? Now You Can!

Wish That You Could Use Excel Like A Pro? Now You Can!

Another way to do this is to click on the G12 cell and go up to the Name Box next to the Formula Bar, then type your name there.

Wish That You Could Use Excel Like A Pro? Now You Can!

And, there’s a third option at the top of the page called “Define Cells” that you can use.

Wish That You Could Use Excel Like A Pro? Now You Can!

Notice that there’s an underscore between Team and Sales (Team_Sales). There are some rules around naming cells:

  • You’re capped at 255 characters.
  • The names must start with a letter, underscore or a backslash ().
  • You can only use letters, numbers, underscores or periods.
  • Strings that are the same as a cell reference, for example B1, or have any of the following single letters (C,c,R,r) cannot be used as names.

How To Name A Range

Highlight an entire range of cells and name your range (we’re doing this in the upper left-hand corner).

Wish That You Could Use Excel Like A Pro? Now You Can! Wish That You Could Use Excel Like A Pro? Now You Can!

Then you can easily use the name to produce the sum you need:

Wish That You Could Use Excel Like A Pro? Now You Can!

You won’t have to go back and forth from spreadsheet to spreadsheet clicking on specific cells to calculate your formula. You simply key in the name of the cell range you want to add. Just be sure to remember the names as you build your spreadsheets over time.

If you ever make a mistake or want to change names, you can go to Name Manager to do this.

Wish That You Could Use Excel Like A Pro? Now You Can!

Remember that if you move the cells, the name goes with it.

Statistical Functions

The three statistical functions are:

  1. Average If
  2. Count If
  3. Sum If

The Average If can be used to figure out the average of a range based on certain criteria. Here we’re going calculate the Average If of the ERA of 20+ Game Winners from the spreadsheet we developed in our last session.

Wish That You Could Use Excel Like A Pro? Now You Can!

We’ve already named some of our cell ranges (wins, era). And we want to know the average greater than 19.

Wish That You Could Use Excel Like A Pro? Now You Can!

Hit Enter and you have the average.

You can use this feature across a wide variety of scenarios. For example, if you wanted to know the average sales of orders above a certain quantity – or units sold by a particular region, or the average profit by a distinct quarter.

Count If is used for finding answers to questions like, “How many orders did client x place?” “How many sales reps had sales of $1,000 or more this week?” or “How many times have the pitchers of the Philadelphia Phillies won the Cy Young Award?”

Wish That You Could Use Excel Like A Pro? Now You Can!

As you can imagine, it’s essential that you type in the text exactly the way you named that particular cell.

Hit Enter and you get your answer

Wish That You Could Use Excel Like A Pro? Now You Can!

Now we’re going to use the Sum If function to calculate the number of strikeouts by the pitchers on this list who are in the Baseball Hall of Fame.

Wish That You Could Use Excel Like A Pro? Now You Can!

Wish That You Could Use Excel Like A Pro? Now You Can!

Sum If is a good way to perform a number of real-world statistical analyses. For example, total commissions on sales above a certain price, or total bonuses due to reps who met a target goal, or total earnings in a particular quarter year-over-year.

Lookup and Reference Functions

These are designed to ease the finding and referencing of data, especially in large tables. Here, cells A1 and E3 relate to a variable interest rate that is paid on a bank account. For balances under $1,000, the interest rate is 3% – between $1,000 and $10,000, the interest rate is 4%, etc.

Wish That You Could Use Excel Like A Pro? Now You Can!

Cell A6 shows the balance of a specific account. The Lookup Function is used in B6. It looks up the interest rate and applies it to the account balance of $45,000. This is what the formula looks like in the bar at the top:

Wish That You Could Use Excel Like A Pro? Now You Can!

The vector form of the Excel Lookup Function can be used with any two arrays of data that have one-to-one matching values. For example, two columns of data, two rows of data, or even a column and a row would work, as long as the Lookup Vector is ordered (alphabetically or numerically), and the two data sets are the same length.

V Lookup and H Lookup are used to pull information into reports. We’re going to use Report Setup. Here, we have a worksheet that references salespeople, sales data, pricing, revenue, and the clients that they sold to. You’ll see on the top right where we set up a report with names referencing sales data.

Wish That You Could Use Excel Like A Pro? Now You Can!

You can access the sales reps in the drop-down menu. Pick a rep and use the V Lookup Function to find the price.

Wish That You Could Use Excel Like A Pro? Now You Can!

To Find Price, key in =vlookup and the corresponding cell number for Rep 16, plus the table array which is the entire table not including the header at the top.

Wish That You Could Use Excel Like A Pro? Now You Can!

Wish That You Could Use Excel Like A Pro? Now You Can!

Wish That You Could Use Excel Like A Pro? Now You Can!

Then you need the column index number. This is the number of columns to the right of your lookup value column, which is column A. It’s the 4th column from column A (Price).

Enter 4,

Wish That You Could Use Excel Like A Pro? Now You Can!

For range lookup we’re using true or false. We are entering false here.

Wish That You Could Use Excel Like A Pro? Now You Can!

Hit Enter and this is what you have for your Find Price value.

Wish That You Could Use Excel Like A Pro? Now You Can!

Now we’ll do a similar V Lookup for the Client. Copy and Paste:

Wish That You Could Use Excel Like A Pro? Now You Can!

Make the necessary changes in your formula:

Wish That You Could Use Excel Like A Pro? Now You Can!

Client 16 goes with Rep 16. Wish That You Could Use Excel Like A Pro? Now You Can!

Note: If you change the Sales Rep, all the corresponding values will change.

Wish That You Could Use Excel Like A Pro? Now You Can!

If you have a lot of data and long tables, V Lookup helps you find information easily. The V stands for Vertical (or by column), because columns are vertical. H Lookup is for Horizontal-like column headers.

Text Functions

Text Functions contain some very powerful tools to adjust, rearrange and even combine data. These functions are used for worksheets that contain information and function as a database such as mailing lists, product catalogs, or even Cy Young Award Winners.

The first text function we’ll show you is concatenate. It links things together in a chain or series. Here, we have our Cy Young list. But we no longer need to see our Wins and Losses in a separate column.

Wish That You Could Use Excel Like A Pro? Now You Can!

To do this easily rather than manually, create a new column where your data will reside.

Wish That You Could Use Excel Like A Pro? Now You Can!

Hit Enter

Wish That You Could Use Excel Like A Pro? Now You Can!

Now, just go in and hide the Wins and Losses columns. Don’t delete them or your new column will have a reference error.

Wish That You Could Use Excel Like A Pro? Now You Can!

If you do want to delete the Wins and Losses columns, you must first make a new column. Copy the W-L numbers and Paste Value in the new column. This way you’ve moved from a formula to the new information. If you delete your source information without taking this step you’ll be left with nothing.

Wish That You Could Use Excel Like A Pro? Now You Can! Wish That You Could Use Excel Like A Pro? Now You Can!

Combine as many columns as you need with the concatenate function to make the data appear as you need it to.

The Left Mid and Right Functions

These are used to tell Excel that you only want part of a text string in a particular cell. Here, we have a product list and product IDs that tell us the date of manufacturer, the item number, and the factory where it was made. We’re going to pull the data out so we can put it in columns to use in different ways.

Wish That You Could Use Excel Like A Pro? Now You Can! Wish That You Could Use Excel Like A Pro? Now You Can! Wish That You Could Use Excel Like A Pro? Now You Can!

Wish That You Could Use Excel Like A Pro? Now You Can! Wish That You Could Use Excel Like A Pro? Now You Can!

We use the Mid Function here.

Wish That You Could Use Excel Like A Pro? Now You Can! Wish That You Could Use Excel Like A Pro? Now You Can! Wish That You Could Use Excel Like A Pro? Now You Can!

This works because each of the product IDs are the same length. If they were different lengths you’d have to do something more creative.

Documenting and Auditing

You want to make your Excel files easy to understand for both yourself and others who need to use them – and this includes auditors. An organized worksheet results in clear error-free data and functions.

Commenting

The purpose of commenting is to provide notes to yourself or especially to others. Comments can include reminders, explanations or suggestions.

You’ll find the New Comment button at the top under the Review Menu. Simply click the cell where you want the comment to go and click New Comment. Then type your comment and click outside the box to close it. The comment will disappear but it’s still there. Anywhere you see a red flag, there’s a comment.

Wish That You Could Use Excel Like A Pro? Now You Can! Wish That You Could Use Excel Like A Pro? Now You Can! Wish That You Could Use Excel Like A Pro? Now You Can!

If your name doesn’t appear in the comment, go to File>Options>General and personalize your copy of Excel (in this case Microsoft Office) under the User Name. You won’t need to go back and change each comment; Excel will do this for you.

Wish That You Could Use Excel Like A Pro? Now You Can!

To format a comment, click inside the comment box and a drop down will come up where you can format the text.

Wish That You Could Use Excel Like A Pro? Now You Can! Wish That You Could Use Excel Like A Pro? Now You Can!

You can change the color of the box and lines around the box. Some managers have different colors for members of their teams.

If you change the default color, it will change that for all your Microsoft products.

To delete a comment, go to the cell that hosts it, then go up and hit delete.

If you have a lot of comments, grab the handle on the box and resize it.

Auditing

What we really mean is formula auditing. This is an advanced way to check your work.

The yellow diamond on the left of this cell indicates that there’s an error.

Wish That You Could Use Excel Like A Pro? Now You Can!

Or to find any errors, go to Formula Auditing in the top menu.

Wish That You Could Use Excel Like A Pro? Now You Can! Wish That You Could Use Excel Like A Pro? Now You Can!

You have a number of helpful tools here. Trace Precedents shows where the formula looks for information. Click the formula you want and click Trace Precedents. It will display where your data came from.

Wish That You Could Use Excel Like A Pro? Now You Can!

Here’s a more complex formula and trace auditing:

Wish That You Could Use Excel Like A Pro? Now You Can!

To hide the arrows, click “Remove Arrows.”

Wish That You Could Use Excel Like A Pro? Now You Can!

Show Formulas

This expands all of your columns and shows all of them in a bigger way. You can go in and check your formulas on the fly very easily. Click Show Formulas again and the worksheet goes back to the way it was before.

Wish That You Could Use Excel Like A Pro? Now You Can!

Wish That You Could Use Excel Like A Pro? Now You Can!

Error Checking

This feature lets you check all formulas at once.

Wish That You Could Use Excel Like A Pro? Now You Can!

This makes it easy to find errors and correct them.

Evaluate Formula

This feature allows you to check a formula step-by-step. It shows the results of each individual part. It’s another great way to de-bug a formula that isn’t working for you. Click the formula you want to evaluate. Click Evaluate Formula and you’ll get a dialog box.

Wish That You Could Use Excel Like A Pro? Now You Can! Wish That You Could Use Excel Like A Pro? Now You Can! Wish That You Could Use Excel Like A Pro? Now You Can!

Click Evaluate and it will change the formula to the actual value that you can review. Each time you click Evaluate, it will take you through the steps of how you got to the final formula. You can trace your way through to see if you made any errors.

Protection

With protection you can lock in your changes in individual cells, spreadsheets, and entire workbooks. You can also protect comments from being moved or edited.

This is how to protect an entire workbook. It’s the highest level of protection.

You’ll want to do this if your workbook contains confidential information like:

  • Pre-released quarterly results
  • Employee salary tables
  • Staff member evaluations

Click File>Info>Protect Workbook>Encrypt with Password.

Enter your password and be sure to make note of it because it can’t be recovered if you lose it. You can use password management software to keep track of your passwords.

Wish That You Could Use Excel Like A Pro? Now You Can!

Wish That You Could Use Excel Like A Pro? Now You Can!

Once complete, click OK and your Protect Workbook function turns yellow indicating that you’ve protected your workbook.

Wish That You Could Use Excel Like A Pro? Now You Can!

To take off protection, retrace your steps.

You can also protect a current sheet you’re working on. It will take you back to your worksheet where you’ll be presented with a variety of options.

Wish That You Could Use Excel Like A Pro? Now You Can! Wish That You Could Use Excel Like A Pro? Now You Can!

You can also protect cells and comments from this option.

In the same way you protected the worksheet, you can protect your workbook.

Wish That You Could Use Excel Like A Pro? Now You Can!

Using Templates

To see the variety of templates you can use in Excel, click File>New and you’ll be presented with a collection of 25 templates you can choose from.

Wish That You Could Use Excel Like A Pro? Now You Can!

For example, there’s a great Loan Amortization Schedule you can use. Formulas are built in for you. All you need to do is change the numbers.

Wish That You Could Use Excel Like A Pro? Now You Can!

You can also go online while inside Excel to find more. You don’t want to download templates from outside Excel because they may contain macros that are contaminated with viruses.

On the right side of the page, you have a huge selection to choose from.

Wish That You Could Use Excel Like A Pro? Now You Can!

It even provides employee time sheets you can use that can save you so much time trying to figure out formulas. Wish That You Could Use Excel Like A Pro? Now You Can!

Creating and Managing Templates

Go to File>Info>Save As and save the template to your location, then save as an Excel Template.

Wish That You Could Use Excel Like A Pro? Now You Can!

Wish That You Could Use Excel Like A Pro? Now You Can!

Before you save as a template you want to:

  • Finalize the look and feel of your template
  • Use review and auditing tools
  • Remove unnecessary data and information
  • Unprotect cells and sheets as appropriate
  • Create comments as guides

Congratulations! Now you’re an Excel Pro! This completes our Excel Like a Pro Series. If you have any questions or need assistance, feel free to contact our Excel 2016 experts.

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