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18

May

How to Link Sheets in Excel?

David Ringstrom
99

Summary: The purpose of this article is to demonstrate three ways in which you can easily navigate between numerous worksheets using hyperlinks in your Excel workbook. If you're an Internet surfer, you know firsthand how valuable hyperlinks can be. Hyperlinks enable you to access other information instantly, no matter where it is located. Excel workbooks can benefit from hyperlinks in spreadsheets, but do you know what they are? Using this great Excel feature has never been easier.Creating a table of contents for your workbook can be one way to use spreadsheet hyperlinks well. You can quickly jump to the relevant part of the workbook using Excel internal hyperlinks.What is the purpose of linking spreadsheet data?It is possible to avoid maintaining the same data on multiple sheets by creating external cell references or links. As a result, data integrity is improved, time is saved, and errors are reduced. Managers can keep detailed spreadsheets for reference and summarized spreadsheets for comparing performances. Other worksheets can be linked to a master sheet containing prices.Here's how it works: Linking Spreadsheet DataExcel displays data from another worksheet when we link data. Source worksheets contain data, and destination worksheets need data. A source worksheet contains data, and a destination worksheet wants it. Excel uses a link formula to determine what data to bring forward.The link formula syntax is =SheetName!CellReference and specifies the worksheet and cell. Creating a link to a worksheetThe following three methods will help you create a link formula. This instruction assumes that the source and destination worksheets are in the same workbook. Before beginning the link formula, always format the cell that contains it.Worksheet Data Linking - Method 1 Work from the destination sheet to the source sheet.The destination worksheet will contain the link formula, which you should enter by clicking on the cell and typing an equal sign.You can link the data in the source worksheet by clicking on the cell with the data and pressing Enter. The linked data is displayed in Excel's destination sheet.Link Worksheet Data - Method Two Paste the link in the destination worksheet after copying it from the source worksheet.Copy the linked data into the source worksheet.Select the cell where the link formula should appear, and then click Paste ⇒ Paste Link on the Home tab. Alternatively, you can use Edit > Paste Special > Paste Link in older versions of Excel.It is displayed in the formula bar of the destination worksheet and the formula bar of the link formula. Excel creates formulas with absolute cells using this method.To remove the animated border, return to the source worksheet and press ESC.Writing Formulas Manually - Method 3It is not difficult to enter formulas manually: equal sign, sheet name, exclamation mark, and cell reference: =SheetName! CellReference. You can use Notepad to enter multiple formulas, copy, paste, and modify them if you have multiple formulas to enter.It's not necessary to capitalize worksheet names. If you enter the worksheet name in the formula without the capital letter, it will add the capital letter. In reverse as well.A single quote must be used to surround spaces or special characters in linking formulas.The Linking of Ranges of CellsSelect the cells you wish to link and click Copy. Then, using the Home tab, click the cell in the destination sheet where the upper-left cell of the range should appear.Range values will be linked to the destination sheet and appear there. In each range cell, a link formula will reference the corresponding cell on the source sheet.No doubt that working on excel makes your life easier but we can’t deny the fact that not everyone is an expert in using excel. So, to make it easy for you, Excel-accountant brings you the platform where you can learn more about excel. We are the website for all the professionals who want to become PRO at using excel. Join us today!

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16

May

Excel Functions & Formulas for Finance

David Ringstrom
418

Interested in learning Excel for finance? You are in the right place. We want you to succeed in your career as a financial analyst, which includes Microsoft Excel expertise.For finance professionals, we've outlined the most important Excel functions in this guide. You should be well prepared to become a world-class financial analyst if you work your way through this list.Top 8 Excel Functions for FinanceYou need to know these 8 functions and formulas simply and clearly. You will be ready to handle any financial problems in Excel when you follow this guide. All of these formulas and functions are useful on their own, but they can also be used in combination to make them even more powerful. These combinations will be highlighted whenever possible.1: XNPVFormula: =XNPV(discount_rate, cash_flows, dates)For finance professionals, XNPV is the most useful formula in Excel. For a valuation analysis to determine a company's value, a series of cash flows must be calculated to determine its Net Present Value (NPV).By taking specific dates for cash flows into account, XNPV is much more useful and precise than regular NPV in Excel.2: XIRRFormula: =XIRR(cash flows, dates)A similar function to XNPV is XIRR, which calculates the internal rate of return for a series of cash flows based on specific dates.Since the time periods between cash flows are unlikely to all be the same, XIRR should always be used over regular IRR.3: MIRRFormula: =MIRR(cash flows, cost of borrowing, reinvestment rate)One of the most important things for finance professionals is to understand the internal rate of return in its many variations. In this formula, M stands for Modified, and it is especially useful when investing the cash from one investment in another.Suppose a private business invested its cash flow in government bonds.A high-returning business with an 18% IRR that reinvests cash in a bond at only 8% will result in a combined IRR that is considerably lower than 18%.4: PMTFormula: =PMT(rate, number of periods, present value)Finance professionals who work with real estate financial models often use this function in Excel. It is easiest to think of the formula as a mortgage payment calculator.You can calculate how much the payments will be given a number of time periods (years, months, etc.) and the total loan value (e.g., mortgage).In this way, both principal and interest are included in the total payment.5: IPMTFormula: = IPMT(rate, current period #, total # of periods, present value)A fixed debt payment includes an interest component calculated by IPMT. In conjunction with the PMT function above, this Excel function works very well. Taking the difference between PMT and IMPT in each period, we can arrive at the principal payments for each period by separating out interest payments.6: EFFECTFormula: =EFFECT(interest rate, # of periods per year)Non-annual compounding interest rates are calculated in Excel using this finance function. In particular, finance professionals involved in lending and borrowing should know about this feature in Excel.In the example above, a compounded monthly interest rate of 20.0% is actually a 21.94% annual interest rate.7: DBFormula: =DB(cost, salvage value, life/# of periods, current period)Accounting and finance professionals will find this Excel function very useful.  This formula allows Excel to calculate your depreciation expense for each period without building a large Declining Balance (DB) schedule.8: RATEFormula: =RATE(# of periods, coupon payment per period, price of the bond, the face value of the bond, type)A security's Yield to Maturity can be calculated using the RATE function. If you want to calculate the average annual rate of return on bonds, you can use this calculator.Are you looking for more functions or formulas in Excel that will help you in making your daily task easy? Welcome to Excel-Accountant, a platform from where you will get all the updates about excel tools.

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