EXCEL TIPS, TRICKS, AND TECHNIQUES FOR ACCOUNTANTS

7/21/2019 EXCEL TIPS, TRICKS, AND TECHNIQUES FOR ACCOUNTANTS

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EXCEL TIPS,TRICKS,

AND TECHNIQUES FOR

ACCOUNTANTSCONTINUING PROFESSIONAL EDUCATION SERI ES

To access demonstration files used in this seminar, please visitwww.k2e.com,log-in in the

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K2ENTERPRISES

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Copyright May 6, 2014 by K2 Enterprises

All rights reserved. No part of this publication may be reproduced or transmitted in any form

without the express written consent of K2 Enterprises, 1250 SW Railroad Avenue, Suite

240A, Hammond, LA 70403, telephone 985.542.9390. Requests to reproduce or transmit maybe e-mailed to [email protected]. Further information may be obtained on the web at

www.k2e.com.

The use of trade names and trademarks in these materials are not intended to convey

endorsement of these vendors or products. All trade names and trademarks used in thesematerials are the property of their respective owners. Any abbreviations used herein are solely

for the readers convenience and are not intended to compromise any trademarks.

The statements in these materials about specific companies or specific hardware and software

products should in no way be misconstrued as statements of fact but rather are opinions of the

authors and K2 Enterprises. We take great care in providing opinions that we think will beuseful in helping our participants make informed decisions. K2 Enterprises reserves the right

to independently evaluate the merits of the companies and of the hardware and software

products that are referenced in our seminars and conference presentations.

K2 Enterprises makes no representations or warranty with respect to the contents of thesematerials and disclaims any implied warranties of merchantability or fitness for any particular

purpose. The contents of these materials are subject to change without notice.

MISSION STATEMENT: K2s goal is to produce and deliver the highest quality technologyseminars and conferences available to business professionals. We work cooperatively with

professional organizations, such as state CPA societies and associations of Chartered

Accountants, and vendors of technology products. K2 also provides consulting services andadvice on technology. We make every effort to maintain a high level of integrity, family

values, and friendship among all involved.

CONTRIBUTORS:The shareholders, associates and staff of K2 Enterprises contributed in theproduction of these materials.

Photograph of K2 Mountain by Adrian Burgess


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E X C E L T I P S , T R I C K S , A N D T E C H N I Q U E S F O R A C C O U N T A N T S

C O P Y R I G H T 2 0 1 4 . R E P R O D U C T I O N O R R E U S E F O R P U R P O S E S I O T H E R T H A N A K 2 E N T E R P R I S E S T R A I N I N G E V E N T I S P R O H I B I T E D

Table of ContentsINTRODUCTION ...................................................................................................................................................... IV

THREE RULES OF THIS SEMINAR.............................................................................................................................. IVCOURSE DEVELOPMENT ........................................................................................................................................... IVABOUT K2ENTERPRISES........................................................................................................................................... VTHEK2CURRICULUM .............................................................................................................................................. VI

Two-Day Seminar .............................................................................................................................................................. VIFull-Day Seminars ............................................................................................................................................................. VIHalf-Day Seminars ............................................................................................................................................................ VI

ON-SITE TRAINING .................................................................................................................................................. VIIWEB-BASEDTRAINING ........................................................................................................................................... VIISELF-STUDY COURSES .......................................................................................................................................... VIIIK2INTERNET SITES ............................................................................................................................................... VIII

CHAPTER 1 PRODUCTIVITY TIPS AND TRICKS ....................................................................................... 1

LEARNINGOBJECTIVES .............................................................................................................................................. 1FREEZE PANES AND SPLIT WINDOWS ........................................................................................................................ 2

NAVIGATINGSHEET TABS ......................................................................................................................................... 3NAVIGATION WITH HYPERLINKS ............................................................................................................................... 4CONTROL HYPER-SCROLL WHEN SELECTING RANGES............................................................................................ 5SELECT CELLS WITH SPECIAL CHARACTERISTICS..................................................................................................... 6VIEW ALLFORMULAS ................................................................................................................................................ 7ADD DATE OR TIME STAMPS ..................................................................................................................................... 8USING THE OFFICE CLIPBOARD.................................................................................................................................. 8PASTE SPECIAL POWER............................................................................................................................................ 10

Convert Formulas to Values .............................................................................................................................. 10Convert Negative Numbers ................................................................................................................................ 10Implement a Percentage Increase ...................................................................................................................... 11

FILL CELLS WITH A SERIES....................................................................................................................................... 12CUSTOM FILL LISTS .................................................................................................................................................. 13

ENTER AND COPY FORMULASEASILY.................................................................................................................... 15USE AUTOCORRECT ................................................................................................................................................. 18FILE OPENINGTRICKS .............................................................................................................................................. 20GROUP DATA FOR PRESENTATION........................................................................................................................... 21GETANSWERS WITHNEWSGROUPS......................................................................................................................... 24

CHAPTER 2 FORMATTING ESSENTIALS ..................................................................................................... 27

LEARNINGOBJECTIVES ............................................................................................................................................ 27FORMATTINGMULTIPLE OBJECTS ........................................................................................................................... 27MULTILINE COLUMN HEADINGS............................................................................................................................. 29USING THE ACCOUNTINGFORMAT .......................................................................................................................... 29

Single and Double Underlines ........................................................................................................................... 30Effect on Label Alignment .................................................................................................................................. 31Accounting Underline Styles .............................................................................................................................. 32Using Multiple Formats in a Cell ...................................................................................................................... 33

CUSTOMNUMBER FORMATS ................................................................................................................................... 34CUSTOM DATE FORMATS ......................................................................................................................................... 39

Using Styles to Preserve Custom Formats ........................................................................................................ 40DISPLAY OF ZEROS AND PRECISION AS DISPLAYED................................................................................................ 43THEHIDDEN FORMAT .............................................................................................................................................. 46CONDITIONALFORMATTING .................................................................................................................................... 46INDENTING ACCOUNT DETAIL ................................................................................................................................. 51

CHAPTER 3 CUSTOMIZING EXCEL .............................................................................................................. 53


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LEARNING OBJECTIVES ............................................................................................................................................ 53CUSTOMIZING THE RIBBON ...................................................................................................................................... 53CUSTOMIZING THE QUICK ACCESS TOOLBAR......................................................................................................... 56CUSTOMIZE WITH MACROS ...................................................................................................................................... 59EXCEL OPTIONS ........................................................................................................................................................ 64USE TEMPLATES TO IMPROVE PRODUCTIVITY ........................................................................................................ 67MODIFYING EXCEL'S DEFAULT TEMPLATES ........................................................................................................... 68CUSTOM THEMES ...................................................................................................................................................... 70

CHAPTER 4 FORMULA BUILDING ESSENTIALS ..................................................................................... 73

LEARNING OBJECTIVES ............................................................................................................................................ 73BUILDING AND EDITING FORMULAS ........................................................................................................................ 74

Using Navigation Keys ....................................................................................................................................... 74RELATIVE,ABSOLUTE,AND MIXED ADDRESS FORMULAS..................................................................................... 75THE FORMULABAR.................................................................................................................................................. 77THE FORMULATAB .................................................................................................................................................. 78ACCRUALS AND DEFERRALS WITH DATE ARITHMETIC.......................................................................................... 78PARSING AND COMBINING LABELS WITH STRING ARITHMETIC ............................................................................. 79PARSINGDATA WITH TEXT TO COLUMNS ............................................................................................................... 82USING DEFINEDNAMES ........................................................................................................................................... 83

Using Names in Formulas .................................................................................................................................. 86CONDITIONAL AND BOOLEAN CALCULATIONS....................................................................................................... 87CONDITIONALIFFUNCTIONS ................................................................................................................................... 88TRAP ERRORS WITH IFERROR................................................................................................................................ 89LOOKING UP DATA WITH VLOOKUP .................................................................................................................... 90USING IFERRORWITH VLOOKUP ....................................................................................................................... 93SUMMARIZINGDATA WITH SUBTOTAL ............................................................................................................... 93CUSTOMIZING AND USING ERROR CHECKING......................................................................................................... 95CIRCULAR REFERENCES ........................................................................................................................................... 99

CHAPTER 5 3-D WORKBOOKS ...................................................................................................................... 103

LEARNING OBJECTIVES .......................................................................................................................................... 103LINKED WORKBOOKS ............................................................................................................................................. 103

Creating Links between Workbooks ................................................................................................................. 104Overcoming Problems with Links .................................................................................................................... 107Updating Links .................................................................................................................................................. 109Managing Links................................................................................................................................................. 110Dealing with Broken Links ............................................................................................................................... 111

MULTIPLE-SHEET WORKBOOKS ............................................................................................................................ 114Combining Single-Sheet Workbooks ................................................................................................................ 114Working with Multiple Sheets ........................................................................................................................... 115

SUM-THROUGHFORMULAS ................................................................................................................................... 116ROLLING REPORTS .................................................................................................................................................. 120

CHAPTER 6 PRINTING ESSENTIALS .......................................................................................................... 123

LEARNING OBJECTIVES .......................................................................................................................................... 123

REVIEW OF PRINTINGBASICS................................................................................................................................. 123Setting Margins and Page Orientation ............................................................................................................ 124Adjusting Page Size and Page Number ........................................................................................................... 125Making Printing Easier with Sheet Settings .................................................................................................... 126Applying Page Settings to Multiple Worksheets .............................................................................................. 127Setting Print Areas ............................................................................................................................................ 128Printing Multiple Worksheets ........................................................................................................................... 130Setting Page Breaks .......................................................................................................................................... 131Page Layout View and Headers/Footers ......................................................................................................... 133Adding Print Tools to the Ribbon and Quick Access Toolbar ........................................................................ 133


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C O P Y R I G H T 2 0 1 4 . R E P R O D U C T I O N O R R E U S E F O R P U R P O S E S I I I O T H E R T H A N A K 2 E N T E R P R I S E S T R A I N I N G E V E N T I S P R O H I B I T E D

USING THE CAMERA TO CREATE REPORT FORMS................................................................................................. 134CUSTOM VIEWS ...................................................................................................................................................... 137

Using Custom Views to Automate Print Settings ............................................................................................ 138

APPENDIX A - KEYBOARD SHORTCUTS ..................................................................................................... 141


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I V C O P Y R I G H T 2 0 1 4 . R E P R O D U C T I O N O R R E U S E F O R P U R P O S E SO T H E R T H A N A K 2 E N T E R P R I S E S T R A I N I N G E V E N T I S P R O H I B I T E D

Introduction

Three Rules of this Seminar

1. There Are No Dumb Questions.

Please ask questions if you need further explanation. We welcome your questions and willdo our best to provide accurate and meaningful answers.

2. Obtain the Information For Which You Came.

If you have a specific interest in a topic, please let us know. If your topic is not alreadypart of the course materials, we will do our best to accommodate your request. Ourinstructors are anxious to meet your needs, but, if you do not ask questions (rule #1), theycannot give you the information that you want.

3. Share and Share Alike.

Our instructor is here to share all possible information related to the course. We hope thatyou will be willing to do the same. If you have some great tips or experiences, please sharethem with us and with the other participants.

Course Development

The shareholders, associates, and staff of K2 Enterprises developed this course and the relatedcourse materials. Our goal is to deliver top quality educational courses that help you better useand understand the tools and concepts that are the focus of this session.

We designed our course presentation style for busy professionals. Through numerous shortcase studies and feature reviews, we strive to deliver concise information in a context that iseasy to understand and easy to absorb.

To maximize the use of your time and the benefits of attending this course, we have workedhard to filter out trivial and obscure features. Our goal is not to cover every keystroke andmenu option but to provide a fast-paced course that focuses on state-of-the-art informationtechnology and what it can do for you and your staff.


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C O P Y R I G H T 2 0 1 4 . R E P R O D U C T I O N O R R E U S E F O R P U R P O S E S V O T H E R T H A N A K 2 E N T E R P R I S E S T R A I N I N G E V E N T I S P R O H I B I T E D

About K2 Enterprises

Mission Statement

K2s goal is to produce and to deliver the highest quality technology seminars and conferences

available to business professionals. We work cooperatively with professional organizationssuch as state CPA societies, associations of Chartered Accountants, and vendors of technologyproducts. K2 also provides consulting services and advice on technology. We make everyeffort to maintain a high level of integrity, family values, and friendship among all involved.

K2 Enterprises is named after the second highest mountain in the world. (The summit of K2 is28,251 feet above mean sea level; Mount Everest is 29,026 feet above mean sea level.) Theshareholders and associates of K2 Enterprises are listed in the following table.

Shareholders

William C. Fleenor, CPA, Ph.D. Loranger, LA [email protected]

Randolph P. Johnston, MCS Hutchinson, KS [email protected]

Val D. Steed, CPA.CITP, MA Centerville, UT [email protected]

Thomas G. Stephens, CPA.CITP Woodstock, GA [email protected]

Associates

Karl W. Egnatoff, CPA.CITP Myrtle Beach, SC [email protected]

John K. Keegan, CPA.CITP Oakhurst, NJ [email protected]

Lawrence A. McClelland, MBA, JD Carriere, MS [email protected]

Steven M. Phelan, CPA.CITP Oklahoma City, OK [email protected]

Joseph A. Sanford, CPA Fort Smith, AR [email protected]

Robert H. Spencer, Ph.D. Elizabethtown, KY [email protected]

Brian F. Tankersley, CPA.CITP Knoxville, TN [email protected]

Over the past thirty years, our team members have collectively delivered more than 14,000national and international courses and conference sessions on the subject of technology. To

help us stay on top of technology, our team members read numerous technology trademagazines, attend many technology conferences, and talk with numerous technologycompanies each year to obtain the latest information to include in our courses. In addition, wepersonally experience everything we teach and recommend to our audiences. Because ourshareholders and associates reside in different states, the use of technology is a necessity forthe success and survival of our business.
mailto:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]


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V I C O P Y R I G H T 2 0 1 4 . R E P R O D U C T I O N O R R E U S E F O R P U R P O S E SO T H E R T H A N A K 2 E N T E R P R I S E S T R A I N I N G E V E N T I S P R O H I B I T E D

The K2 Curriculum

Two-Day Seminar

Excel Boot Camp: Two Days of Intensive Excel Training

Full-Day Seminars

Advanced Excel Budgeting, Forecasting, and Business Analytics

Cloud Computing

Excel-Based Dashboards

Excel Best Practices

Excel Budgeting and Forecasting Techniques

Excel Financial Reporting and Analysis

Excel PivotTables for Accountants

Excel Tips, Tricks, and Techniques for Accountants

The Mobile Office

Paperless Office PDF Documents - Beyond the Basics

QuickBooks for Accountants

Sage 50/Peachtree Accounting Software Managing Businesses More Effectively

Small Business Internal Controls, Security, and Fraud Prevention and Detection

Technology for CPAs - Don't Get Left Behind

Top Accounting Solutions: Cloud and On-Premise

Half-Day Seminars

Advanced QuickBooks Tips and Techniques

Excel Macros - Part I

Excel Reporting Best Practices, Tools, and Techniques

Excel Tables Revolutionize How You Work with Excel!

iPad An Effective Business Tool

Microsoft Access Fundamentals: Tables and Queries

Microsoft Office 365 Your Office, Your Way

PDF Forms - What Accountants Need to Know

Technology Update

Word, Outlook, and PowerPoint Tips and Tricks for Enhancing Productivity

In addition to the twenty-eight courses listed above, K2 Enterprises alsoproduces approximately 25 one and two-day technology conferenceseach year. You can find a complete listing of our course offerings,including dates, locations, and course descriptions, on our web site atwww.k2e.com/training.
http://c/Users/caron/AppData/Local/Microsoft/Windows/Temporary%20Internet%20Files/Content.Outlook/RTYFHWOB/www.k2e.com/traininghttp://c/Users/caron/AppData/Local/Microsoft/Windows/Temporary%20Internet%20Files/Content.Outlook/RTYFHWOB/www.k2e.com/traininghttp://c/Users/caron/AppData/Local/Microsoft/Windows/Temporary%20Internet%20Files/Content.Outlook/RTYFHWOB/www.k2e.com/traininghttp://c/Users/caron/AppData/Local/Microsoft/Windows/Temporary%20Internet%20Files/Content.Outlook/RTYFHWOB/www.k2e.com/traininghttp://c/Users/caron/AppData/Local/Microsoft/Windows/Temporary%20Internet%20Files/Content.Outlook/RTYFHWOB/www.k2e.com/training


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C O P Y R I G H T 2 0 1 4 . R E P R O D U C T I O N O R R E U S E F O R P U R P O S E S V I I O T H E R T H A N A K 2 E N T E R P R I S E S T R A I N I N G E V E N T I S P R O H I B I T E D

On-Site Training

Working cooperatively with your state CPA organization, we are pleased to offer all of ourseminars and conference sessions as on-site training opportunities. On-site training offerscompanies of all sizes numerous advantages, including the following:

Customization. K2 Enterprises can customize the content of all on-site trainingevents to meet the specific needs of your organization. For example, we cancombine selected parts of existing courses into one customized course to meetyour specific needs. Likewise, we can develop custom content from the ground upand deliver it to your team members, thereby ensuring that your trainingobjectives are met.

Cost savings. For organizations of all sizes, on-site training can providesignificant cost savings when compared to public training venues. In addition topotentially reduced registration fees, these cost savings accrue in the form of

reduced travel costs and reducing the amount of time team members spend awayfrom the office.

Convenience. Because you select the date, time, and location of your on-sitetraining event, on-site training is more convenient for you and your teammembers than traditional training options. Many organizations schedule on-sitetraining in conjunction with staff meetings, retreats, and customer/client events toleverage further the value of all participants time.

Customization, cost savings, and convenience the three Cs oftraining to go. For more information on how you and yourorganization can experience these benefits or to schedule an on-sitetraining event, please visit http://www.k2e.com/training/on-site-training or [email protected].

Web-Based Training

K2 Enterprises offers web-based CPE to accounting and businessprofessionals throughout the United States. K2's team of award-winning instructors delivers two-hour, four-hour, and eight-hourwebinars on numerous technology-focused topics, including Microsoft

Excel, QuickBooks, and Cloud computing. For more information onthese webinar offerings or to register, please visithttp://www.k2e.com/training/web-based-training.
http://www.k2e.com/training/on-site-traininghttp://www.k2e.com/training/on-site-traininghttp://www.k2e.com/training/on-site-trainingmailto:[email protected]:[email protected]:[email protected]://www.k2e.com/training/web-based-traininghttp://www.k2e.com/training/web-based-traininghttp://www.k2e.com/training/web-based-trainingmailto:[email protected]://www.k2e.com/training/on-site-traininghttp://www.k2e.com/training/on-site-training


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V I I I C O P Y R I G H T 2 0 1 4 . R E P R O D U C T I O N O R R E U S E F O R P U R P O S E SO T H E R T H A N A K 2 E N T E R P R I S E S T R A I N I N G E V E N T I S P R O H I B I T E D

Self-Study Courses

New for 2014, K2 Enterprises now provides self-study trainingopportunities. Self-study courses offer you the advantage of receivingtop-quality training at a time and location that fits into your busy

schedule. You can start a course today and complete it in the future, ifthat is necessary to help you achieve the work-life balance you desire.For more information on self-study offerings or to register, please visithttp://www.k2e.com/training/self-study.

K2 Internet Sites

As a service to our attendees, K2 Enterprises maintains multiple Internet sites that containinformation and links that are relevant to the needs of CPAs and other business professionalsand that enrich your experience during and after our seminars.

The K2 web sites contain details on the topics that we present, tips on using the software andhardware that we cover, and information on the products that we use daily and canrecommend with confidence. Since the hardcopy materials provided in our seminars often agequickly, you will find additional supporting content and the most up-to-date information onour web sites. Our pages contain links to the web sites of some of the top accounting andcontent management software solutions as well as to other web sites of interest and even to afew sites that are just fun places to visit. We invite you to visit our web sites often. If you haveany comments, questions, or suggestions regarding our web pages, please send an email [email protected].

www.k2e.com

This is the primary web site for K2 Enterprises. Here you canaccess information regarding CPE opportunities, includingseminars, conferences, on-site training, web-based training, andself-study opportunities. You can also access a library oftechnology tips and articles, and you can link to K2-related websites.

www.cpafirmtech.com

CPA Firm Technologycontains technology-related information

targeted specifically to public accounting firms. Included areproduct reviews, hardware and operating system discussions,affinity programs for CPA firms, and Cloud computing resources.
http://www.k2e.com/training/self-studyhttp://www.k2e.com/training/self-studyhttp://www.k2e.com/http://www.k2e.com/http://www.cpafirmtech.com/http://www.cpafirmtech.com/http://www.cpafirmtech.com/http://www.k2e.com/http://www.k2e.com/training/self-study


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C O P Y R I G H T 2 0 1 4 . R E P R O D U C T I O N O R R E U S E F O R P U R P O S E S I X O T H E R T H A N A K 2 E N T E R P R I S E S T R A I N I N G E V E N T I S P R O H I B I T E D

www.accountingsoftwareworld.com

Accounting Software Worldprovides information related toaccounting and financial management solutions. You can findsoftware and service reviews, product comparisons, white papers,and other material of interest to those seeking information aboutaccounting software and service solutions.

www.totallypaperless.com

For information about document management and paperlessprocess, please visit Totally Paperless. This site provides reviewson hardware and software used by all types of businesses indocument imaging and management processes.
http://www.accountingsoftwareworld.com/http://www.accountingsoftwareworld.com/http://www.totallypaperless.com/http://www.totallypaperless.com/http://www.totallypaperless.com/http://www.accountingsoftwareworld.com/


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X C O P Y R I G H T 2 0 1 4 . R E P R O D U C T I O N O R R E U S E F O R P U R P O S E SO T H E R T H A N A K 2 E N T E R P R I S E S T R A I N I N G E V E N T I S P R O H I B I T E D


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C O P Y R I G H T 2 0 1 4 . R E P R O D U C T I O N O R R E U S E F O R P U R P O S E S 1 O T H E R T H A N A K 2 E N T E R P R I S E S T R A I N I N G E V E N T I S P R O H I B I T E D

Chapter1Productivity Tips and Tricksxcel has become the tool of choice for accountants and business professionals. Manyhave been using Excel for years, but most are self-taught and depend on others in theiroffices for tried and true solutions to common problems. This course is designed to

heighten users' awareness of the commonly utilized, yet powerful, functionality of Excel while

revealing advanced capabilities that are seldom used by most practitioners. The information,guidance, and recommendations contained in this course, coupled with its many real-worldexamples, should improve your spreadsheet skills and productivity immediately.

Learning Objectives

Upon completing this chapter, participants should be able to:

Describe how to use features such as freeze panes and split windows to optimizetheir working environment in Excel;

Discuss how to identify and select cells with specific characteristics;

Describe alternate means for adding data to a worksheet, including Paste Special,date and time stamps; Custom Fill Lists, AutoCorrect, and Fill Cells with a Series;

Utilize Excel features to enter and copy formulas more efficiently, openworkbooks with ease, and group data for presentation purposes; and

Describe resources available, in addition to Excels Help system, for solvingissues in Excel.

We begin the course with a smorgasbord of tips and tricks designed to improve results whilereducing effort and time expended. Of note, virtually all of these tips will reduce the amountof time required to prepare financial statements and related documents while increasing theaccuracy of these documents.

Chapter

1E


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2 C O P Y R I G H T 2 0 1 4 . R E P R O D U C T I O N O R R E U S E F O R P U R P O S E SO T H E R T H A N A K 2 E N T E R P R I S E S T R A I N I N G E V E N T I S P R O H I B I T E D

Freeze Panes and Split Windows

Users of worksheets containing long, multi-row lists or wide multicolumn reports such asmulti-period financial statements commonly face the problem of column headings oraccount numbers scrolling off the screen as they move around a worksheet. The simple

solution is to freeze or split the panes for display. When panes are frozen, specific rows andcolumns remain visible while a user scrolls through a worksheet. To freeze panes, position thecursor in the worksheet and select Freeze Panesfrom the Viewtab of the Ribbon as shown inFigure 1.The rows that are frozen are above the active cell. The columns that are frozen are tothe left of the active cell. Excel darkens grid lines when panes are frozen. To unfreeze panes,select UnfreezePanesfrom the Freeze Panes list of options.

Figure 1 - Freezing Panes to Maintain Display of Headings

Split panes divide the Excel grid into separate worksheet areas, each of which you can scroll

in any direction independently of the other panes. This is useful for working in largespreadsheets while building formulas between different areas of a worksheet or for watchingcalculation results as assumptions are changed. In Excel 2013, select the cell where to split thepanes above and to the left, and select Splitfrom the Viewtab of the Ribbon. In Excel 2010and earlier versions, users also have the option to drag the split handle at the top of the verticalscroll bar and/or at the right end of the horizontal scroll bar to the position desired.Figure 2shows both methods. To change the location of a split bar, move the cursor over a split until itchanges to a double pointed arrow. Then left-click on the split and move it to the desiredlocation. To remove a split, just double-click any part of the split bar.


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C H A P T E R 1


Figure 2 - Splitting Panes to Create Separate Worksheet Areas

Navigating Sheet Tabs

In workbooks with many worksheets, navigation between worksheets is often half of thebattle. To navigate more efficiently through a workbook, right-clickon the worksheet scrollbuttons, select the worksheet of interest and select OKas shown inFigure 3.


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Figure 3 - Right-Clicking on the Scroll Buttons for a List of Worksheets

Navigation with Hyperlinks

Hyperlinks assist with navigating within and between workbooks and other documents orWeb pages. They also link to external data sources. The links can be to any file type or Webpage. Clicking on a link will open the linked document in the registered application for thatfile type. This functionality is very useful for linking financial statements to detail schedules inExcel or to footnotes in Word or for linking to tax or other research-related documents or datasources.

To create a hyperlink, position the cursor in the cell to contain the link. On the Inserttab ofthe Ribbon, click Hyperlink or use the keyboard shortcut Ctrl + K to open the InsertHyperlinkdialog box. Select the type of link to create from the Link Tocolumn on the left.Type in or navigate to the file or Web address to complete the required information. Note thata link can open a Microsoft Office document to a specified page, sheet, or defined name.Optional information includes the Text to displayand ScreenTip, as shown inFigure 4.


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C H A P T E R 1


Figure 4 - Creating a Hyperlink to a Location in the Same Workbook

Control Hyper-Scroll When Selecting Ranges

Everyone who uses Excel has experienced hyper-scroll when, during a mouse operation

such as highlighting or dragging, the cursor seems to speed up and highlight an entire row orcolumn. Unknown to most users, users can control scroll speed by carefully bumping upagainst the edges of the worksheet window. The edges act just as an accelerator pedal does inan automobile. Just touching the edge causes Excel to scroll slowly. As you move the mousecursor past the edge, scroll speed accelerates. In the latest version, Excel seems to pause everso slightly, regardless of scroll speed, when it reaches the end of a row or column of data,thereby allowing a user to stop the scroll operation. Be cognizant of this behavior to lessenyour frustration and to improve your productivity.

Although highlighting with a mouse is suitable for small ranges of cells, using the mouse tohighlight large ranges is time-consuming and problematic for most. There are several

alternative methods for highlighting large ranges.

1. Hold down the SHIFT key while using the navigation keys (UP, DOWN, LEFT,RIGHT arrows, PAGE UP, PAGE DOWN, etc.) to highlight the desired range.

2. Position the cursor in one corner of the desired range. Scroll through the worksheetusing the scroll bars to the opposite end of the range and then SHIFT + Clickon thecell that represents the range's opposite corner.


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3. Quickly move to the top or bottom of any column of data or to the beginning or end ofany row of data. Position the cursor in the column or row of interest and then double-click on the cell edge that represents the direction in which the cursor is to move. Forexample, double-clicking on the bottom edge will move the cursor to the bottom of thecolumn or to the first break in the column if there is a break in the data. Hold down the

SHIFTkey while double-clicking on an edge to highlight the data in the column orrow. Note that when positioning the mouse pointer properly over a cell edge, thepointer changes from the Swiss cross to a compass rose as shown inFigure 5.

Figure 5 - Mouse Pointer Changing to a Compass Rose When Properly Positioned

Select Cells with Special Characteristics

Excel has built-in functionality to select cells with special characteristics, such as those thatcontain constants or formulas, those that are blank, or those that are visible, etc. To select allcells that contain formulas, click Find & Select on the Home tab of the Ribbon and thenchoose Formulas as shown in Figure 6. This procedure may be useful in reviewing aworkbook received from a client or staff member. With the cells selected, apply a Style toidentify them so the cells will be easily visible during the review process.

Figure 6 - Selecting All Cells That Contain Formulas


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Selecting cells with more specialized characteristics involves using the Go To Specialdialogbox, also available from the Find & Selectcommand. For example, as shown inFigure 7,GoTo Special will select only those cells that contain Conditional Formats.

Figure 7 - Using Go To Special to Select Only Cells with Conditional Formats

View All Formulas

The prior tip allows you to identify all of the cells in a worksheet that contain formulas orother special characteristics, but this tip displaysall of the formulas. Once Excel displays the

formulas, users can examine the worksheet for inconsistencies and errors or print theworksheet for documentation purposes. All formulas can be displayed by selecting ShowFormulasfrom the Formulastab of the Ribbon or from the keyboard by pressing CTRL + `(the grave symbol) as shown inFigure 8.


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Figure 8 - Displaying All Formulas in a Worksheet

Add Date or Time Stamps

Users can add date or time stamps to any worksheet quickly by using keyboard shortcuts asshown inFigure 9.

Figure 9 - Add Date and Time Stamps Using Keyboard Shortcuts

Note that date and time stamps added using these techniques are hard-coded into theworksheet and do not update with the computers system clock. For a dynamic date stamp,enter =TODAY( )in a cell; for a dynamic time stamp, enter =NOW( )and change the formatso that the cell only displays the time and excludes the date.

Using the Office ClipboardThe Office Clipboard accumulates up to twenty-four items cut or copied from other MicrosoftOffice documents, such as Excel workbooks, Word documents, PowerPoint slideshows, orOutlook messages, and makes them available for pasting in other Office applications. Theaccumulated items stay on the Office Clipboard until all Office programs are closed, or until auser deletes the items from the Clipboard task pane. To display the Office Clipboardpane,click the dialog launcher in the Clipboardgroup of the Hometab of the Ribbon as shown inFigure 10.


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Figure 10 - Using the Office Clipboard to Accumulate and Paste Items

The Office Clipboard holds up to 24 items with the newest placed at the top of the list and theoldest at the bottom of the list. Upon adding the 25thitem to the list, the oldest item on thebottom of the list disappears. The newest item copied to the clipboard is also the item thatoccupies the System Clipboard. When executing a Pasteoperation using any command on the

Home tab of the Ribbon or by using CTRL + V from the keyboard, Excel pastes the itemfrom the System Clipboard. All items on the Office Clipboard, other than the first item in thelist (which is also the item on the System Clipboard), can be pasted from the Office Clipboardpane only, which prevents these items from being the object of a Paste Special command.Optional settings for the Office Clipboard are available from the Options button of theclipboard pane.


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1 0 C O P Y R I G H T 2 0 1 4 . R E P R O D U C T I O N O R R E U S E F O R P U R P O S E SO T H E R T H A N A K 2 E N T E R P R I S E S T R A I N I N G E V E N T I S P R O H I B I T E D

Paste Special Power

Convert Formulas to ValuesThe Paste Specialcommand is used to alter the default rules of the pasting process. In default,formats paste with data, formulas paste as formulas, and the paste process does not affect

destination column widths. Our first example of this powerful command is to use PasteValuesto turn formulas into their values. This functionality is especially useful for turning theresults of intermediary calculations or audit samples selected with Excel functions into staticvalues. Figure 11 shows a random sample of check numbers chosen using theRANDBETWEENfunction. To make the values of the sample static, copy the formulas tothe clipboard and then select Paste, Paste Values from the Home tab of the Ribbon tocomplete the process.

Figure 11 - Using Paste Values to Turn Formulas into Values

Convert Negative NumbersQuite often, accountants export data from a general ledger for reporting and analysis. Some ofthe data such as sales revenue or cash payments export as negative numbers. For example,check amounts are reported as negative numbers in the QuickBooks Missing Check report. Toconvert these amounts to positive numbers for analysis and reporting, simply use the PasteSpecialcommand to multiply them by minus one (-1). There is no need to use the commonly


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C O P Y R I G H T 2 0 1 4 . R E P R O D U C T I O N O R R E U S E F O R P U R P O S E S 1 1 O T H E R T H A N A K 2 E N T E R P R I S E S T R A I N I N G E V E N T I S P R O H I B I T E D

employed convoluted process of building formulas, copying them down, pasting their values,and deleting the column of original data.

To convert negative numbers to positive values using Paste Special, do the following.

1. Enter minus one (-1) in an unused cell of the worksheet.

2. With the cursor still in the cell where minus one (-1) was entered, copy its contents tothe clipboard by pressing CTRL + C.

3. Now, highlight the cells containing the negative numbers to be converted, and, fromthe Hometab of the Ribbon, click Paste, Paste Special.

4. In the Operationsection of the Paste Specialdialog box, select Multiplyand clickOKas shown inFigure 12.

Figure 12 - Using Paste Special to Alter the Default Pasting Rules

5. Delete the contents of the cell that contains minus one (-1) to complete the process.

Other types of special pastes are available from the Paste Specialdialog box. From that dialogbox, users can paste column widths, formats, or comments, or they can perform other

mathematical operations.

Implement a Percentage IncreaseThis example is similar to the previous one in that we will perform a mathematical operationas part of the paste process. In this case, the management team of GTM Manufacturing ishaving a budget status and review meeting. During the meeting, the Director of Marketingsuggests that the budget estimate for souvenirs is too low. He points out that the company


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introduced three new products in the line and increased advertising and promotionalexpenditures. Under these circumstances, he expects sales of souvenirs to increase by about35% across all geographic regions. To re-estimate total sales quickly, use the Paste Specialtechnique to multiply the sales of souvenirs by one plus the expected percentage increase insales (135%) as shown inFigure 13.Note that Valueswas also selected in the Paste Special

dialog box so that the formatting in the worksheet was not changed when the percentageincrease was applied.

Figure 13 - Using Paste Special to Increment a Sales Forecast

Fill Cells with a Series

Users can quickly fill a range of cells with a series of values, labels, or dates using the FillHandle. The Fill Handle is the small black square in the lower right corner of the cursor asshown inFigure 14.

Figure 14 - The Fill Handle


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Select the cell that contains the first value, label, or date and then click and drag the fill handledown or across the adjacent cells to fill with the list. Click on the context-sensitive Auto FillOptionsbutton and select the options desired as shown inFigure 15.Note that the Auto FillOptionschange, depending on the data type. For example, when filling date data, the optionsinclude Fill Days, Fill Weekdays, Fill Months, and Fill Years.

Figure 15 - Using the Fill Handle and Auto Fill Options to Fill Cells

The CTRLkey alters the way that cells are filled with the Fill Handle. It serves as a toggleswitch for turning auto-incrementing on or off. If the cells are being auto-incremented as theFill Handle is dragged down or across adjacent cells, pressing the CTRLkey will change theoperation so that the cells are copied. On the other hand, if the cells are being copied, pressingthe CTRLkey will cause the cells to be auto-incremented. The following table summarizesthe operation of the CTRL key with the Fill Handle.

Fill Handle Only

CTRL +

Fill HandleCells are copied. Cells are incremented.

Cells are incremented. Cells are copied.

Custom Fill Lists

Just as the Fill Handle can be used to enter series of values, labels, and dates, it can also beused to fill cells with custom fill lists. For example, if users find themselves entering


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department names sales, marketing, production, shipping and receiving, accounting, humanresources, etc. in worksheet after worksheet, they can create a Custom Listto use with theFill Handle to automate the task. Users of Excel 2010 and 2013 create Custom Lists byclicking the Filetab of the Ribbon, followed by Options, Advanced, and Edit Custom Liststo open the CustomListsdialog box shown inFigure 16.

Figure 16 - Custom List Dialog Box

Users of Excel 2007 create Custom Lists by clicking the Office Button, selecting Excel

Optionsand then choosing Popular in the Navigation Pane on the left. In the pane on theright, click Edit Custom Lists.

There are several ways of creating a Custom List. Perhaps the easiest way is to use an existingrow or column of labels. Highlight the row or column that contains the labels that will makeup the Custom List. Click Import in the Custom Lists dialog box and then click OK tocomplete the process as shown inFigure 17.


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Figure 17 - Creating a Custom List for Use with the Fill Handle

To fill a range of cells with items from a Custom List, simply enter into a cell one of the labelsincluded in the list. Then drag the Fill Handle up, down or across adjacent cells and Excel willfill in the remaining items from the list.

Enter and Copy Formulas Easily

Formulas and formatting are key worksheet components, and entering and copying formulasare also common but critical processes. The Fill Handle can be used to copy formulas downand across quickly and easily as shown inFigure 18.


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Figure 18 - Using the Fill Handle to Copy Formulas

Note that the selection in the context-sensitive Auto Fill Optionsdrop-down menu has beenset to Fill Without Formatting, which, in this case, allows the formula to be copied withoutalso copying the dollar signs ($) in the format.

In building formulas, accounting professionals often need to create the same formula in

multiple non-contiguous cells. The most common solution is to create a formula in a singlecell and then to copy and paste it multiple times. Alternatively, users copy a formula across arange of cells and then delete the formula from the cells where it is not required. A bettersolution is to enter a formula in multiple cells using a single simultaneous process. Use CTRL+ Clickto highlight all of the cells where a formula is to be entered. Enter the formula usingany conventional method using cell references based on the last cell selected to receive theformula. Then, rather than pressing Enter when the formula is complete, press CTRL +Enterto enter the formula in all of the selected cells as shown inFigure 19.

Figure 19 - Entering a Formula in Multiple Cells Simultaneously


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The AutoSumbutton found on both the Homeand Formulas tabs of the Ribbon. Althoughthe name implies otherwise, the icon provides access to more than just the SUM function.Careful scrutiny of the AutoSum button reveals that it contains a drop-down menu thatprovides access to all functions as shown inFigure 20.

Figure 20 - AutoSum Providing Access to All Functions

The AutoSum button can insert formulas that foot and cross-foot financial data automatically.Just highlight the data, making sure to extend the highlighted range down and to the right toinclude blank rows and columns where the formulas are to appear as shown inFigure 21.Then, click the AutoSumbutton, select a function, and Excel inserts formulas for the selectedrows and columns with a single command, thereby footing and cross-footing the tablesimultaneously. Alternatively, if the Sum function is to be used, rather than clicking theAutoSum button and selecting Sum, the user may simply enter the keyboard shortcut ALT += and Excel will enter the Sum functions.

Figure 21 - Footing and Cross-Footing with AutoSum


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Simple, incidental calculations, such as sums, averages, or counts, can be made from financialdata contained in a worksheet without building formulas. Just highlight the cells of interestusing any method and look down to the Status Barat the bottom of the worksheet as showninFigure 22.In default, Excel displays the Average, Count, and Sumof the selected cells.Additional functions (such as Minimum, Maximum, and Numerical Count) and

functionality (the state of Caps Lock, Num Lock, and Overtype Mode) are available byright-clicking on the Status Bar and making selections from the customizing menu.

Figure 22 - Getting Simple Ad Hoc Calculations Directly from the Status Bar

Use AutoCorrect

AutoCorrect is a powerful, little-utilized tool that is a source of frustration for some users.

The frustration arises when users enter text in cells, and the text entered is the object of adefault AutoCorrect entry. For example, the text "123(c)(3)"is replaced with "123(3)" indefault as shown inFigure 23.

Figure 23 - Default AutoCorrect Entry Causing Frustration

The source of the frustration is a default AutoCorrect entry that turns this sequence of

characters open parenthesis, the letter "C," and closed parenthesis (C) into the copyrightsymbol, , as shown inFigure 24.


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Figure 24 - Default AutoCorrect Entries

To correct this at the time of data entry, click the Undo button or press CTRL + Zimmediately after the characters are replaced with the copyright symbol. Then, complete theentry and press Enter.

To correct this issue permanently, change the default AutoCorrect entry for the copyright

symbol. Users of Excel 2010 and 2013 change AutoCorrect options by clicking the Filetab ofthe Ribbon, Options, and Proofingin the navigation pane of the Excel Optionsdialog box.Then, click on the AutoCorrect Options button in the pane on the right to open theAutoCorrect dialog box. Users of Excel 2007 begin this process by clicking the OfficeButton, Excel Options, and Proofing. Referring toFigure 24,click on the offending entry forthe copyright symbol and modify the text in the Replacebox to read "(cp)." Click Add. Then,highlight the originaldefault entry for the copyright symbol and click Delete. Complete theprocess by clicking OK, OK. Now, when "(c)" is typed into a cell, the characters will nolonger be replaced with the copyright symbol, but the copyright symbol can still be entered bytyping in "(cp)."

AutoCorrects functionality allows users to create shorthand entries. Often-used text andphrases, along with corrections for commonly misspelled words can be added to a user'sAutoCorrect entries. For example, if a user routinely keys "tset" for "test" or wants ashorthand entry for a client with a lengthy name such as Opihi River DevelopmentCorporation, AutoCorrectcan provide the needed functionality.


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A quick way to correct common misspellings that are recognized by ExcelsSpell Check tool is to click the AutoCorrectbutton instead of the Changebutton in the Spelling dialog box.

File Opening TricksMany accounting professionals work with sets of workbooks, all of which need to be open atthe same time for certain tasks to complete properly. If the workbooks are stored in the samefolder, a user can open all of them with a single operation to save time. In the Opendialogbox, use CTRL + Clickor CTRL + Shift to select multiple files before pressing the Openbutton as shown inFigure 25.

Figure 25 - Opening Multiple Files in a Single Operation

Another time-saving technique is to Pinfrequently used files to the Recent Documents list asshown inFigure 26.Pinned files will not rotate off the Recent Documentslist until the filesare unpinned. Simply click to pin or unpin.


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Figure 26 - Pinning Files to the Open Button for Quick Access

Group Data for Presentation

The Groupand Outlinefeatures in Excel make it much easier to work with worksheets thatinclude a large number of subtotals or totals. The outlining features allow users to collapse orexpand, on demand, up to eight levels of detail to customize the view of their data in aworksheet. To use the outlining features, create the summary totals before attempting to beginthe grouping process. The totals can be created manually, created automatically using theSubtotalcommand, or may be embedded in imported data into Excel from other applications.

In this example, the Subtotal command creates the subtotals and groups the dataautomatically. The first step is to sort all the records by all the fields on which the Subtotalfunction is to be used. Then select a cell in the range of data and click Subtotalon the Datatab of the Ribbon. In the Subtotaldialog box, select the field to summarize on in the At eachchange inbox, the summarizing function to use, and check the columns to calculate. Checkany options that are appropriate and click OKas shown inFigure 27.


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Figure 27 - Using Subtotal to Summarize and Outline Data

Referring toFigure 27,notice the Outline Baralong the left side of the worksheet matrix. Atthe top of the Outline Barare a series of numbers that indicate the number of levels of detailavailable in the outline. The number one [1] provides the greatest level of summarizationwhile the highest number, in this case three [3], provides the greatest level of detail. Click theplus sign [+] to expand the detail for any summarized row or click the minus sign [-] tocollapse the detail.


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One potential issue that some users have with the Subtotal command is theseeming inability to copy and paste its results to another location. If someoneuses Subtotal and attempts to copy and paste the data to another location, theprocess yields all records in the range, not just the summary visible in theSubtotaled data. To copy only the summarized information, select the desired

range and then choose Find & Select, Go To Special, Visible Cells Onlyfrom the Home tab of the Ribbon prior to executing the Copy command.Alternatively, the user can use the keyboard shortcut ALT + ; Doing socauses Excel to copy only the visible data, allowing the user to paste a rangeof subtotals without the hidden details.

In the following example, manual subtotals were entered for sales by geographic region andfor quarterly sales. To group and outline the data, select a cell in the data and then selectGroup, Auto Outline from the Data tab of the Ribbon as shown in Figure 28. Excel

analyzes the data and enters outlines where it finds summarizing formulas. Note that in thiscase, there are Outline Barsalong the top as well as the left side of the worksheet matrix. TheOutline Bar along the top is used to expand or collapse horizontal detail, such as months, intoquarters and quarters into total.


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Figure 28 - Using Auto Outline to Summarize and Report Data

Get Answers with Newsgroups

Let's face it. Even those of us who consider ourselves advanced users of Excel face questionsthat we cannot answer or problems that we cannot solve from time to time. When questions orproblems arise, where do you turn for answers or assistance? One of the best resources forquick solutions to Excel problems is the public newsgroups hosted by Microsoft. Microsoftrefers to its newsgroups as technical communities. These communities are accessible througha Web browser, but to post questions or responses, users must have a Live ID. To access thecommunities from the Microsoft.com Homepage, select a Forum such as Office, and select


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an application such as Excel. Users can narrow the focus further to a specific version such as2013 shown inFigure 29.A shortcut link for this page ishttp://tinyurl.com/K2ExcelForum.

Figure 29 - Using Microsoft Newsgroups for Support

Of course, the ubiquitous presence of Google makes finding the Microsoft technicalcommunities a quick task; simply go tohttp://groups.google.comand search for Excel tolocate Excel-related groups indexed by Google. Shown inFigure 30is a Worksheet Functionsnewsgroup.

Figure 30 - Using Google Groups to find help with Excel functions

In our opinion, the Excel Worksheet Functions group has more technical information aboutExcel in one location than any other resource. Post a question and in a short time, another userwill usually post the answer to your question. Microsoft hosts the newsgroups, but everydayusers just like you are the ones who respond. In essence, it is users helping other users.
http://tinyurl.com/K2ExcelForumhttp://tinyurl.com/K2ExcelForumhttp://tinyurl.com/K2ExcelForumhttp://groups.google.com/http://groups.google.com/http://groups.google.com/http://groups.google.com/http://tinyurl.com/K2ExcelForum


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Responses range from simple answers to complex formulas to macrocode, whatever it takes tosolve your problem. The keys to getting the help you need are 1) a succinct and informativesubject line related to the problem at hand and 2) clearly articulating your question or issue.Identify the computer environment such as version of operating system, Office and any otherapplications. Whenever possible, enter a few sample columns and rows of data along with the

results of the calculation that you are attempting. Do notattach a sample worksheet and do notinclude sensitive information. If you follow these recommendations, it is likely that thesolution to your problem will be forthcoming very soon.


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Chapter2Formatting Essentialsicrosoft Excel is a powerful tool for analyzing financial data and for preparingfinancial reports, but, like most powerful tools, it contains hidden features andfunctionality useful for these purposes that are not obvious to users, both novice

and expert alike. The purpose of this chapter is to uncover hidden formatting features and

techniques so that users may prepare aesthetically pleasing reports in a more effective andefficient manner.

Learning Objectives

Upon completing this chapter, participants should be able to:

Describe how to use features such as Format Painter, Wrap Text, Indent, theHidden Format, and the Accounting Format to improve the appearance of Excel-based reports;

Apply underlines in a manner to achieve intended results;

Discuss Custom Formats and create and apply them to Excel data;

Describe Excels Styles feature and how to use Styles to facilitate consistentformatting in and across Excel documents;

Describe how to manage rounding issues in Excel with the Precision as Displayedfeature; and

Discuss the importance of Conditional Formatting and apply conditional formats

to Excel data.

Formatting Multiple Objects

Most accounting professionals routinely work on single workbook objects cells, ranges,rows, objects, or sheets when applying formatting. After formatting the first object, someusers repeat the formatting process repeatedly until they have formatted all of the objects.Other users copy the formats from the first cell to other cells using the Format Painter

Chapter

2M


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available from the Hometab of the Ribbon or the Mini-Toolbaras shown inFigure 31.TheFormat Painter is used to copy and paste formats, not data, from one cell (or cells) to othercells.

Figure 31 - Using the Format Painter to Copy Formats

Users can apply formatting to multiple objects at the same time, thereby saving time andimproving productivity. The key to using this technique is to select all objects to be formattedbeforeapplying the formatting. To select multiple cells, ranges, rows, columns, or worksheettabs, hold down the CTRLkey while using the mouse to select the objects. For example, toboldface several key figures in a report, a user could first select all of the cells of interest andthen click Boldon the Hometab of the Ribbon or the Mini-Toolbarto format all of the cellsin a single operation. Similarly, users could select multiple columns before adjusting theircolumn widths as shown inFigure 32.

Figure 32 - Setting Multiple Column Widths in One Operation


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Alternatively, double-clicking the Format Painter allows users to click on multiple cells andpaste formats into those cells without needing to select the cells in advance. To end thismulti-paste process, either depress the ESCkey or click the Format Painter icon.

Multiline Column Headings

Multiline column headings are commonly created by merging and stacking multipleindividual cells. A better alternative is to wrap and center each column heading in a single cell.Simply enter the text for each column heading and then check Wrap Texton the Alignmenttab of the Format Cellsdialog box that is available from the context-sensitive menu or fromthe dialog launcher in the Fontgroup of the Hometab of the Ribbon as shown inFigure 33.Complete the process by centering the column headings and widening the columns so that theheadings break as desired. To force a break in a column heading, use ALT + Enterat thepoint of the desired break.

Figure 33 - Using Wrap Text with Multiline Column Headings

Using the Accounting Format

When asked whether they use the accounting format, many accounting professionals respondthat they do not use it at all. In reality, the accounting format is probably the most frequentlyused number format within the profession. That is because the accounting format is appliedwhenever the currency or comma styles are selected from the Home tab of the Ribbon, asshown on the left inFigure 34or from the Mini-Toolbar, as shown in the same figure on the

right. The Mini-Toolbar appears whenever a user right-clicks on the worksheet grid.


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Figure 34 - Currency and Comma Style Buttons on the Ribbon and Mini-Toolbar

The currency style applies the accounting format with the dollar sign and two decimal places,while the comma style applies the accounting format without the dollar sign. The accountingformat displays negative numbers within parentheses and ensures that decimal points alignperfect for financial reports!

Single and Double UnderlinesThe accounting format affects the way single and double underlines are applied to numbers

and labels. When using the accounting format, single and double underlines for subtotals,totals, and column headings do not span the entire column as do cell borders. The accountingformat indents single and double underlines one character space from the left and right cellmargins. This provides the necessary break in underlines across adjacent columns withoutresorting to the common practice of inserting narrow fauxcolumns to accomplish the sameeffect.

Figure 35 - Report Showing the Effect of the Accounting Format on Single and Double Underlines


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Figure 35 displays single and double underlines applied to labels and numbers in cellsformatted with the accounting format. Notice how the single and double underlines do notquite span the width of the cells, thereby allowing for breaks in the underlines betweenadjacent columns.

Underlines and double underlines are available from the Home tab of the Ribbon as shown inFigure 36. Underlines may be applied from the Mini-Toolbar or from the keyboard bypressing CTRL + Uor by pressing ALT, H, 3, U. Double underlines may be applied from thekeyboard by pressing ALT, H, 3, D.

Figure 36 - Applying Underlines and Double Underlines from the Ribbon

For single and double underlines to display and print properly for cellscontaining text, the single or double underline formats must be applied afterapplying the accounting format. For cells that are already underlined whenthe accounting format is applied, simply remove and then reapply theunderline format.

Effect on Label Alignment

The accounting format has a very favorable effect on the underlining of labels, such as forcolumn headings in financial reports, as illustrated in the preceding section. However, theaccounting format can also cause labels to be misaligned in reports. Almost everyone hasencountered a label that does not line up with labels in adjacent rows. After checking to makesure that an extraneous space has not been inadvertently inserted at the beginning of anaffected label, many practitioners, confounded by this problem, insert spaces at the beginningof each label in the column to force the labels to align. The cause for this misalignment issimple the cells affected have different numberformats. The number format that causes themisalignment is the accounting format because labels, just as with single and doubleunderlines, are indented one character from the left and right cell margins. To correct themisalignment, use the Format Painterto apply the same format to all labels in the affected

column as shown inFigure 37.


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Figure 37 - Misaligned Labels Caused by the Accounting Format

In this example, the labelEasternis formatted with the accounting format, and the other labels

in the column are formatted with the default general format. The accounting format causes thelabel to be indented one character from the left cell margin, thus creating the misalignment.To correct the alignment problem, point to any one of the properly aligned and formattedlabels, click on the Format Painter, and then click on the misaligned label. The secondcolumn shows the result of the correction process withEasternnow properly aligned.

Of course, you may be wondering just how that single label became formatted with theaccounting format while all others were formatted with the general format. The most commoncause is the process of copying and pasting cells or ranges within or among worksheets. Thedefault copy and paste process pastes not only the contents of cells but also the formats ofthose cells, even when the copied cells are blank. In the normal spreadsheet creation and

modification process, it is quite easy for a user to paste cells unknowingly to an area wherelabels may subsequently be entered. If the pasted cells are formatted with the accountingformat, label misalignments will occur when the surrounding cells are not also formatted withthe accounting format.

Accounting Underline StylesThere are multiple styles for single and double underlines single, single accounting, double,and double accounting. When the accounting format is applied to a cell, the default underlinestyles are single accounting and double accounting. When any other number format is appliedto a cell, the default underline styles are single and double. That only begs the question: Whatis the difference between the normal underline styles and the accounting underline styles?

Quite simply, the accounting underline styles raise a number or label above the underline forreadability. Excel accomplishes this feat by increasing the row height of the formatted cells.

Notice how much easier it is to read the totals in the topmost report inFigure 38.That is dueto the increased spacing between the numbers and underlines that results from the accountingunderline styles. Again, the accounting underline styles raise the numbers or labels off theunderline for readability.


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Figure 38 - Standard Underlines vs. Accounting Underlines

The accounting underline styles cause the row height of cells to be higherthan adjacent rows, which may cause vertical misalignments on somereports. To correct the problem, change the underline style from anaccounting underline to a normal style. The problem of different underlinestyles is also problematical in common size reports, where some columnscontain numbers formatted as percentages. Again, to correct this problem,change the underline style from an accounting underline to a normal style.On the Home tab of the Ribbon, click the dialog launcher in the Fontgroup.Choose the desired underline style in the Underlinedrop-down box.

Using Multiple Formats in a CellAlthough most practitioners do not use this functionality, Excel has the ability to displaymultiple formats in a single cell. While typing text into a cell, use the formatting buttons orcommands, such as underline, boldface, or italics, to format the text as you type. Thiscapability is especially useful in creating footnotes to financial statements or other reports asshown inFigure 39.


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Figure 39 - Creating Footnotes Using Multiple Formats in a Cell

To append footnote numbers to text, type the text of your entry. Before pressing Enter, clickthe dialog launcher in the Fontgroup of the Home tab of the Ribbon. Check Superscriptonthe Fonttab and click OK. Then, type in the appropriate footnote number and press Enter. Toenter numbered footnotes, position your cursor in the cell to contain the footnote. Right-clickand select Format Cellsfrom the context-sensitive menu. Check Superscripton the Fonttaband click OK. Enter the appropriate footnote number followed by a space. Then, right-clickand choose Format Cells, uncheck Superscript,and click OK. Type your footnote text andpress Enter.Note that multiple formats in a single cell do not displayproperly in cells wherethe number format has been set to the accounting format. When this is a problem, simply resetthe number format in the affected cells to the general format.

Custom Number Formats

Custom formats can format numbers and text in ways suitable for financial reporting. Forexample, financial statements may need to be restated and reported in thousands, millions, orbillions. While many accounting practitioners accomplish this task by dividing their actualdata by an appropriate divisor, the same result can be accomplished by merely using a customformat to display the existing actual data in thousands, millions, or billions as shown in Figure40.


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Figure 40 - Using Custom Formats to Report in Thousands or Millions

To create a custom format to report in thousands, millions, or billions, first format your cellswith the desired