Excel Mapping Tables
Mapping tables help automate formula-based reports because they provide Excel the information needed to aggregate report groups and translate labels.
Mapping tables are a great way to automate formula-based reports. In fact, it is techniques like this that helped a student get her monthly reports done in 10% of the time. Check it out.
As you know, I was able to eliminate the stress of having too much work and not enough time by delegating my manual accounting tasks to Excel. After taking the monthly close from a 2 week process to a 2 day process, I wanted to share what I had learned about this amazing application.
My first Excel article
It started with a simple Excel article I submitted to the Journal of Accountancy. To my surprise, they decided to run it. It was about hyperlinks, and I have an online copy you can read if you’d like using the link below. Due to the volume of thankful emails that I received from that first article, I knew my future was providing Excel training and helping others figure out how to use Excel to save time.
Students saving time
Now I do Excel training full time. That’s all I do, and I love it! Why? Well, not only do I get to use Excel everyday (which is super fun), I get to hear stories from students about how they’ve used Excel to save time. These stories are heart-warming and make me all warm and fuzzy inside because I can see my small contribution making a real difference. Here are a few short examples.
- A student had a financial reporting process that took her 40 hours per month. Essentially, she would export a bunch of data from an accounting system and then use the data to prepare the financials. She needed to copy and paste a bunch of values from the export. She would need to write custom formulas to retrieve the cell values. She would need to manually combine selected values. After she learned which Excel features, functions, and techniques to apply, she was able to get it done in 4 hours!
- Another student told me that 1/3 of the steps in a monthly process were eliminated because they were essentially delegated to Excel.
- Another student told me that his job of building reports was automated now because of PivotTables. He actually told me that he had so much free time that he was bored. That is a lot of free time…wow!
I could go on with more examples, but, you already get it. You know that when used correctly, Excel can be applied to automate many accounting tasks.
How to save time
Excel University provides the training that will equip you with the Excel skills you need. How? In a nutshell…it is specifically designed for accountants so it includes the relevant Excel items. The format is on-demand so you work at your own pace. The Excel exercises enable you to practice hands-on. The forum provides a way to ask the instructor (that’s me) if you get stuck. And the quizzes ensure you are on track.
What do you get when you complete the course? Well, you get a shiny new certificate of completion and a digital badge you can include on your website or CV, but more importantly, you get the knowledge you need to delegate your manual tasks to Excel. You will be able to apply Excel to your workbooks and get them done faster.
Time is life
Getting the same amount of work done in less time alleviates stress and provides time for more important things in life. How I choose to spend my time is how I choose to spend my life. My time is my life. So, if I can get my work done faster, I’m better off.
Instead of working late nights and weekends, I can spend my time at home with my wife and three amazing kids. I can go on hikes and bike rides, play Monopoly and Mario Kart, and just hang out with them. I’m not missing out on these precious times. I’m building family memories rather than being stuck in an office.
Building your Excel skills so you can delegate manual accounting tasks to Excel is the key. For example, if you want to have Excel help with your formula-based reports, you can use a mapping table. If you haven’t used this technique in your workbooks, check out the short video tutorial from Excel University Volume 2, Chapter 23.
Now, keep your eyes open for my next email because there will be a special limited-time bonus offer when I launch the new Excel University Resource Library. It is ready to go and I’m very proud of it. Plus, I’m absolutely sure it will help you spend less time at work.
In the meantime…remember…Excel Rules!