Microsoft Excel is among the best inventions by humans in the face of this earth. For better and brief understanding, this can be termed as a way that helps us to achieve multiple tasks through a single program. The foremost purposes served by this program are; creation of grids, numbers, and formulas via calculations (that are allowed by this program).
Excel spreadsheet is a wide source of help for the businesses, as it helps these institutions in keeping a record of expenditures, incomes, budget plans, data and all the other fiscal factors that are likely to affect the profit of the business.
The biggest advantage used by the excel user is that he can store the data, calculate the data and can easily share the data without worrying about the space because excel does not ask for much storage and is super easy to share via emails.
One of the many good qualities of excel spreadsheet is that it contains programming capabilities, and one can easily use them for their benefit while developing a financial and scientific program.
Excel spreadsheet cannot be understood in one go. So to help you, here are 11 ways to use Microsoft Excel:
Excel spreadsheet is used widely due to this specific functionality as it helps one to record the data. The data can be stored in both; integer and word forms. There is no mandatory rule with respect to keeping the records, which makes it easy to use and share.
This is one among many such programs that are used by big businesses or brands.
The best part about Excel is that it is used to store information by many people, right from a student to a company with a turnover worth more than a million dollars.
For example: A company’s excel sheet for the amount of money invested in the purchase and the date of purchasing goods can be recorded as:
- Electric Equipments : 28JUNE2019 : 300,000
- Furniture set : 04JULY2019 : 40,000 etc;
This is the world’s one such program that helps the person to record and calculate the integers when required. So, the problem of calculating the stats before arranging them into a record is long gone.
The calculations in excel are super easy to understand. Example of such is; ‘+’ stands for addition, ‘-‘stands for subtraction, ‘/’ stands for division, ‘%’ stands for percentage.
This implies, all the symbols used in working out the calculations are similar to that of used on the calculator. Hence this is an easy and time-saving way to calculate and record it.
For example: One wants to calculate the sum of money invested in the purchase of goods and then wants to find out the average of spendings:
(C2+C3+C4+C5+C6)/5 will be written in the formula bar.
or you can write, =SUM(C2,C3,C4,C5,C6)/5
3. General accounts:
A tool used by main businesses. Here one can make the most out of it by preparing budget plans, forecasts, expense tracking, financial reports, loan calculations or employee’s daily-work record.
Microsoft took up the initiative to design the excel spreadsheet so that different accounting needs could meet under one roof. And not so surprisingly, there are around 89% of companies that are dependent upon the spreadsheet to perform the accounting functions.
This process is made easier by spreadsheet templates. Use the one which suits you the best.
There are 14 types of templates: accounts journal, accounts receivables, bills to invoices, bills of lading, billing statement, cash flow statement, cash flow forecast, expense report, income statement, payment schedule, simple balance sheet, travel itinerary, save hours of manual work with smartsheet. One can choose among these and work without any restrictions.
Charts are easy to understand and interesting in comparison to lengthy paragraphs used for explaining or delivering the concern. This is made better by getting the digits converted into charts simply by going through a few clicks of your mouse. This particular specification helps excel to stand out of the crowd.
Column chart, pie chart, bar chart, area chart, line chart, scatter chart, and many more exceptional and widely used charts are added in service provided by the excel.
5. Schedule guide:
Excel has successfully beaten the concept of reminder applications. Because this is a whole package one could ever ask for.
Right from mapping out a content schedule for your blog or website, lessons for classroom, holidays throughout the year, daily schedule for you to preparing the calendar of monthly meetings in office conducted to listen to the worries and problems of people in the office, excel has got you covered.
Thus there is no need to let an application eat up the space of your phone or desktop.
6. Goal planning:
Every person’s aim and objectives differ from another. Which implies the estimated time taken to complete or achieve them will also differ from each other.
To make this easier excel comes with a facility that helps you to achieve your goal. Right from professional goals, fitness goals to financial goals, this helps you to stay focused and determined towards the achievement.
Excel can come handy by the usage of various tools, which helps you to create worksheet, plot, and plan the objectives and assist you to triumph.
This function of excel helps one in keeping a track on all the tasks done, work done, or things delivered. One of the widely used ways of a checklist is the one that allows you to keep a track by ticking off the things you have purchased or carried out from a store or aim roster for the upcoming office events.
8. Project management charts:
You are already aware of the fact that Excel is the ultimate winner when it comes to creating the best and variety of charts. And this comes handy when it comes to various charts for project management purpose.
The waterfall charts, kanban style boards (like trello), are some of the major examples of charts that are used in project management.
9. CRM tool:
Excel can be used to make a Customer Relationship Management report. This helps in building a customized CRM. The tools available under this functionality will help you to store the data of your choice, and there is no limitation as on how much space should be given to each section.
Manage your customers here. This will be a better and easier way of finding out your customers. The whole management is organized with an aim to achieve the growth in sales, leading to increased profits.
With time variations come in the market, and each brand strives their best to provide their service. But Microsoft is such a service that helps you to get through anything without an investment of penny by buying either of the tools prescribed by Microsoft management.
Hence it will be precise to say that Excel spreadsheet is the mother of inventions. And this program will continue to lead betterment in all the aspects of life.