Excel Tips for Financial Spreadsheets

Excel spreadsheets are very suitable for financial sheets, with a
variety of formatting features, as well as numerical functions.
Overall, there are a few tips worth considering for Excel financial
spreadsheets.

To begin with the sort of financial spreadsheets that you can set up
in Excel. Typically, financial spreadsheets such as budgets are a good
suggestion for a spreadsheet. Alternatively, other accountancy sheets
such as P & L accounts and also Balance sheets make suitable financial
spreadsheets. Remember that more than one spreadsheet can be used for
any Excel worksheet.

Excel has a few templates for financial spreadsheets. Such templates
as the balance sheet, and sales invoice are good examples. To select a
spreadsheet template click new and then templates in the task pane.
From here, you can select an appropriate template.

With regard to formatting financial spreadsheets, it is recommended
that you use the accounting number format. To format the cells, simply
select the range of cells from the spreadsheet, right-click and select
format. Then you can select the number format accounting, and also
change to a suitable currency as well.

You should also make use of bold lines and borders for a financial
spreadsheet. For example, between various column or row headings, or
alternatively above cells that have numerical functions. Again, select
the relevant cells and then via the formatting menu go to the borders
menu. From here, you can edit the cells borders appropriately.

Cell shading is always good to include, although not essential. With
the conditional formatting option, cells with numbers below zero can
be changed to red shading. To do so, go to format and then conditional
formatting. Then, from here, the condition can be set.

Aside from the variety of formatting options, Excel also has financial
functions. For example, such functions as DDB return the depreciation
of an asset. Financial functions are selected from the function menu,
under the category of financial.

Comments, or notes, can also be added to a financial spreadsheet. With
these, comments and notes can be made for any cell or groups of cells
included on the spreadsheet. To add a comment to any cell, simply
right click and select comment. Then you can add the comment or
notification.
Cells with comments added, will include a small red marker in the top
right of the cell.

Overall, these are just a few tips for financial spreadsheets.
Financial functions, comments, conditional formatting and other
appropriate formatting such as accounting number format will enhance
any financial spreadsheet.