Basic Excel modelling tips for financial analysis

Learning to use Excel in a more efficient way will dramatically increase your productivity. Making some simple changes to the methods you use will streamline your process and allow you to achieve high-quality results in less time.

Making the most of Excel

Excel has become central in the world of finance, and learning to use it well is hugely important. Many people only scratch the surface of how to best leverage the software. Read on for tips using Excel effectively and simple switches you can make to start using Excel to have a greater impact.

1. Use templates

Excel has built in templates you can use to create a spreadsheet to suit your specific needs. Don’t be afraid to make the most of these options as a starting point to build your spreadsheet upon. Templates can be edited and adjusted to suit your needs. Combine these useful outlines with your professional expertise to get your spreadsheet off the ground faster.

2. Shortcuts

Using keyboard shortcuts will significantly increase your workflow. Simple but useful Excel shortcuts include:

• Create a new workbook: Ctrl + N
• Close current workbook: Ctrl + W
• Open a workbook: Ctrl + O
• Centre align cell contents: Alt+H, A, C
• Add borders: Alt+H, B

Discover more helpful Excel shortcuts for both Windows on this Microsoft website page.

3. Format Painter

Use the format painter tool to apply formatting quickly from one cell to another. The feature also allows you to duplicate the colours, font, size, and more, allowing you to create uniform tables with ease.

For example, if several people have entered data into a table and the layout is inconsistent, the format painter will enable you to standardize the whole table without needing to edit every cell manually.

4. Status bar functions

By default, the status bar displays basic information such as average, count, and sum of selected cells. However, did you know that you can customise it to show even more useful insights? Right click on the status bar at the bottom of the page to customise the information it shows you. This is a useful tip to improve your overall efficiency, allowing you to take all your data into consideration.

5. Automation

If you only use one of our Excel productivity tips, make it automation. Automating tasks is the best way to streamline your Excel experience. Using a well designed Excel add-in to take care of repetitive tasks will enable you to accelerate the pace at which you work. Importantly, automating tasks with an Excel add-in doesn’t mean sacrificing quality. On the contrary, it reduces the chance of errors. With the help of an add-in, professionals can approach their work confidently, knowing that attention has been paid to every detail.

Excel add-ins for finance

Whilst Excel is useful on its own, using a specially created add-in will provide you with tools designed to benefit financial analysts and accountants in particular. OAK (Operis Analysis Kit) was the in-house software of leading financial voice, Operis, before they released it for wider use. The add-in is made by industry experts to address the unique needs of financial professionals.

With OAK you can enjoy:

• Enhanced functionality

OAK will give you the ability to extend Excel’s functions to support your work. Make the most of tailored tools to help achieve excellent financial analysis.

• Time saving features

Simplify your process and reduce your workload by using OAK’s effective features, saving you and your team valuable time.

• Error reduction

Have confidence in your spreadsheets. OAK will provide you with a detailed understanding of the source of errors and how to fix them. This information can easily get lost in manual checks.

• Easy comparison

OAK makes it simple to compare spreadsheets and identify discrepancies and patterns.

• Understand complex formulas

See the logic behind complex formulas. OAK will enable you to decode the reasoning behind each decision and clearly see precedents and dependents.

Get in Touch

If you are ready to increase the quality and efficiency of your Excel spreadsheets, get in touch. Our expert team is on hand to answer any questions you have about OAK and discuss how the software can best benefit you in your context. Call us now on +44 (0)20 7562 0400 or email oak@operis.com.

To try OAK’s outstanding features for yourself, sign up for a free 30 day trial!