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Most Valuable Excel Skills Required for Finance and Accounting

by Sep 30, 2015Accounting

Finance and accounting are those subjects which require high level of concentration and time. In accounting you need you change columns and rows continuously for some data entries and for this excel skills are very important. Finance and accounting skills are required in almost all types of business and job. So it is very important that we know about some quick techniques that will help us to finish our work easily.

Finance and accounting department are the most important department of a business as it maintains all types of earning, spending records. So thorough excel skills it becomes very easy for a accountant or a finance analyst to create financial records, built data sheets, analyze the entered data, make different strategies for better maintenance of accounts. One can also look at blogs related to other finance and excel tips such as: How much does finance and accounting depend on Excel?

Important features of excel that helps in financing and accounting

Here are some of the features and functions of excel one should know for making their task easier. These excel functions are also time saving that is you can finish your task before time. Some of the important features of excel that one should know are as follows:

  • Excel allows us to copy, paste all the data that we want to enter without creating any error. By doing this we get rid of some formatting and editing job that requires more effort.
  • There is an option where you can just multiply all cell by one. This helps you to eliminate all the zeroes from your entry.
  • There is a very useful option called the VLOOKUP, HLOOKUP function which will help you to find all the entries with similar characteristics both horizontally and vertically.
  • You can easily delete unnecessary rows and columns from the data sheet using the data manipulation option. This makes your job easier, which was a difficult task without this excels function.
  • Excel functions are very useful in making balance sheet. One can easily denote negative and positive numbers using different signs for credits and debits in the account.

These are some of the simple tools and functions which will allow the financial and accounting analyst to create and simpler and clear data reports.