Excel Peer Learning
Community
UBI700
Overview
O Peer Learning Communities provide
opportunities to explore resources and tools
while connecting with campus peers and
discovering better ways of conducting
business. Questions and topics will be
solicited from registrants prior to the session
and discussion topics will be selected based
on registrants’ interest. Prior or continuous
attendance is not required.
Today’s Topic - Outcome
Today’s Topic:
O“Common Excel Functions for Budget
Tracking”
3 Simple Ways:
OLearn It!
OPractice It!
OReview It!
Outcomes
By the end of this session, you will be able to…
1.Understand how Excel Functions help with budget
tracking tools
2.How to create a monthly summary running total
3.How to use the unique SUMPRODUCT Functions
O Student Assistant Budget Workbook Formulas
4.Learn how to find/trace errors within Excel
formulas
Learning Functions
O All Functions can be found in the Function Library
group on the Formulas tab.
O Today’s Focus – Sum-based Functions
O Sum-based Functions are helpful when tracking:
O Hourly wages earned against a budget amount
O Departmental Expenses using data extracted from
OBDIEE Revenue & Expense Reports
Why It Matters To You
O Using Functions, creates proficiency, speeds up
analysis, eliminates manual entry, and makes us
more comfortable with data that isn't 'perfect'.
O There are times when you want to calculate the
budget amount still available for certain expenses
O Example:
O Departments may have a need to track the payroll
wages earned by student assistants by:
O The total number of hours worked year-to-date (YTD)
O Wages paid to all their students for a given month.
O Discover how much of grant dollars has been spent
Excel Function Categories
Common Functions
Today’s Date: CTRL&+ &; is a shortcut for entering the current date
(hold down all 3 keys and release.
Note: Putting extra spaces into formulas can cause an error message!
Learning Basic Formulas
O Student Monthly Gross wages:
O Hours worked x pay rate
O Budget Balance Available (BBA)
O Add: Initial Budget Amount provided
O Less: Prior month expenses
O Less: Current month expenses
O EQUALS Budget Balance Available
Calculating a Running Balance
O Basic Worksheet with Debit and Credit columns
O In this scenario, cell E1 contains our starting balance; Column
C contains the debits; and Column D contains the credits.
O Starting Balance Formula in cell E4: =sum(E1,C4,-D4)
O Reoccurring Formula in cell E5: =sum(E4,C5,-D5)
Let’s Practice - Running Balance
O In this scenario, cell E1 contains our starting balance; Column
C contains the debits; and Column D contains the credits.
O Enter expense amounts in the Credit column (Column D)
O Enter the following formulas:
O Cell E4: =sum(E1,C4,-D4)
Cell E5: =sum(E4,C5,-D5)
O Copy the formula into the balance cell for each new
transaction—use the handle to pull the formula down.
Learning Excel Functions
O Q: How do I add the Amounts in every other
column w/o manually putting in the actual
cell value?
O A: A Simple Solution would be:
O =B4+D4+F4+H4+J4+L4+N4+...etc.
O We would have to HOLD DOWN the CTRL key,
click on each cell, add a “+” sign and repeat
to make the formula
O Very time consuming!
Learning Excel Functions
O Bigger & Better Function!:
O Assuming that for row 1 our range of #'s are in A1:O1
O To add the ODD columns, enter this (no spaces):
=SUMPRODUCT((1-MOD(COLUMN($I$1:$O$1),2))*$I$1:$O$1)
O To add the EVEN columns, enter this (no spaces):
=SUMPRODUCT(MOD(COLUMN($I$1:$O$1),2)*$I$1:$O$1)
Practice – Student Assistant Workbook
Auditing for Formula Errors
O By tracing the relationships, you can test formulas
to see which cells are to blame for:
O Incorrect values in the formula of a particular cell,
O Non-working formulas in the worksheet
O Direct precedents are cells that directly feed the
formulas,
O Dependents are cells that depend on the results
of the formulas..
Source: Excel for Dummies, http://www.dummies.com/howto/content/understanding-excel-2010s-formula-auditing-tools.html
Auditing for Formula Errors
To Trace Formula, we have the following steps.
Step 1
Select the
cell that
contains the
formula
result to be
traced..
Auditing for Formula Errors
Step 2
On the Formula
tab, click in the
Formula
Auditing group.
Then, click on
the Trace
Precedents.
Auditing for Formula Errors
Step 3
Then, the
Formula
Precedents will
be displayed.
Step 4
To remove
the formula
precedents,
Click on
Remove
Precedents
Button.
Source: http://www.dotnetheaven.com/article/tracing-formula-in-excel-2010
Precedent and dependent lines are always inserted from or to the
active cell. From the active cell:
OTo see what other cells are referenced in the active cell's formula, click
the Trace Precedents button.
OTo see which other cells contain a reference to the active cell, click the
Trace Dependents button.
Let’s Review
O Common Budget Tracking Functions
1. Name some Excel Functions to help with budget
tracking tools?
2. What is the formula to create a running total?
3. Why do we use the SUMPRODUCT Functions?
4. In tracing errors, why is Formula auditing used?
What is a dependent? What is a precedent?
Thank You
Happy
Holidays!
O Allyson Bates
Business Analyst
Financial Services
abates@fullerton.edu
657.278.5298
O Suchi Patel
Business Analyst
Admin & Finance IT
supatel@fullerton.edu
657.278.8265
O Greg Sweet
Univ. Tax Compliance Manager
Financial Services
Adjunct Faculty, Dept. of Accounting
gsweet@fullerton.edu
657.278.5671