Psychologist Abraham Maslow wrote a line that is often referred to as Maslow’s Hammer. It goes something like this: “I suppose it is tempting, if the only tool you have is a hammer, to treat everything as if it were a nail.” I’ve heard the simplified version more often: “If all you have is a […]
There are numerous lookup functions in Excel, and often, their capabilities overlap. And, that is true with many things in Excel…there are often multiple ways to accomplish any given task. Performing lookups is no exception. So, how are we supposed to know which lookup function to use? Often, Excel users try to decide between VLOOKUP […]
When you need to perform a lookup, your instinct tells you to use VLOOKUP. But, when your lookup uses multiple conditions and columns, you may be inclined to use SUMIFS. However, when the value you need to return is a text string, rather than a numeric value, you are precluded from using SUMIFS since it only […]
Of all the functions introduced in Excel 2007, 2010, and 2013, my personal favorite is SUMIFS. The SUMIFS function performs multiple condition summing. The function is designed with AND logic, but, there are several techniques that allow us to use OR logic instead. This post explores a few of them. Objective Let’s be clear about […]
Hi guys! Just wanted to draw your attention to my April 2014 Journal of Accountancy article that discusses the power of mapping tables. If you’ve not experimented with this technique, it is worth checking out. In summary, a mapping table sits between the data and report sheets and enables you to translate labels and aggregate […]
This post discusses ways to retrieve aggregated values from a table based on the column labels. Overview Beginning with Excel 2007, we can store data in a table with the Insert > Table Ribbon command icon. If you haven’t yet explored this incredible feature, please check out this CalCPA Magazine article Excel Rules. Frequently, we […]
If you have ever tried to use a VLOOKUP function with two or more criteria columns, you’ve quickly discovered that it just wasn’t built for that purpose. Fortunately, there is another function that may work as an alternative to VLOOKUP depending on what you want to return. Multi-Column Lookup Objective First, let’s confirm our objective […]
Excel Balance Sheet This post illustrates how to create a financial statement such as a balance sheet with built-in Excel features and functions. Our primary objective is to build a workbook that efficiently pulls values from the trial balance into the balance sheet. Overview For the purpose of this post, let’s assume we have a […]
The SUMIFS function is for sure, without a doubt, one of my most favorite Excel functions of all time. I’m sure I use it in well over half of my workbooks, and it is a must-know function for Excel users. I’ll try to get you warmed up, but just know that this post only gets […]