For Tax Preparers, please post excel formula's/tools you use

[shyy]

Hi everyone,

I am doing an excel training for my team and was wondering what excel formula's/tools do you guys normally use and encounter. I have currently

Formulas:
Subtotal
If
Vlookup
Sumif
Sumproduct
Countif
Count and Counta
Len
Text
Left, Mid, Right
Concatenate
Offset
Indirect
Index
Match
Round

Tools:
Goal Seek
Scenario Manager
Hyperlink
Data Validation

Thanks for your time.

 

[jeffreybrown]

Looks like a good list, but I would add Pivot Tables.

 

[shyy]

Can you give me samples why you would use pivot tables? I use it for fund accounting but never seen it for tax.

 

[jeffreybrown]

It's hard to give examples when talking about Pivot Tables because they can be used in so many ways. They are so customizable so just have to get in there and play with them until you get the desire outcome.

One of the best features for what I do is the grouping feature. I can group by year, month, day etc.

 

[xenou]

How about for summing ledger accounts? Or getting totals for fixed asset cost and depreciation by asset class? One imagines this is at least within the realm of possibility, yes even for tax accounting...

 

[shyy]

Thanks for the ideas,using Sumproduct to sum up the general ledger.

 

[jeffreybrown]

Just a thought...by the formulas you posted I'm guessing you are using a 2003 version of Excel.

If you should happen to have 2007, you'll find the Sumifs much more powerful than the Sumproduct.

 

[shyy]

Thanks I actually wrote one before and just updating it. I explained the new functions in Excel 2007.

 

[Domski]

If you should happen to have 2007, you'll find the Sumifs much more powerful than the Sumproduct.

More efficient and easier to understand but definitely not more powerful.

Dom