Automating Excel-based Financial Statements
by - David Ringstrom

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About Course

In this session, Excel expert David Ringstrom, CPA, shows you step-by-step how to create dynamic accounting reports for any month of the year on just one worksheet. While Excel users often build worksheets for each month of the year, such worksheets can be cumbersome to revise. As an alternative, David explains how to use Excel functions, including VLOOKUP, OFFSET, and SUM, to quickly create accounting reports that allow you to switch to any reporting period with only two mouse clicks. He also outlines how to export data from your accounting package, improve the integrity of your spreadsheets, incorporate Check Figures and Alarms into you work, and more.

David demonstrates every technique at least twice: first, on a PowerPoint slide with numbered steps, and second, in the Microsoft 365 (formerly known as Office 365) version of Excel. David draws your attention to any differences in the older versions of Excel (2019, 2016, 2013, and earlier) during the presentation as well as in his detailed handouts. David also provides an Excel workbook that includes most of the examples he uses during the webcast.

Microsoft 365 is a subscription-based product that provides new-feature updates as often as monthly. Conversely, the perpetual licensed versions of Excel have feature sets that don’t change. Perpetual licensed versions have year numbers, such as Excel 2019, Excel 2016, and so on.

Topics Covered:

• Exploring the nuances of data exported from accounting programs, such as extraneous worksheets, blank columns, and extraneous rows.
• Creating a 12 month P&L report from QuickBooks Desktop and then exporting to the comma-separated value (CSV) format to streamline analysis.
• Building and exporting a 12-month Profit & Loss report from QuickBooks Online and QuickBooks Desktop as a model for what to look for when exporting from other applications.
• Creating a workbook with just two worksheets that will present data for any month of the year.
• Creating self-updating financial spreadsheets by using Power Query in Excel 2010 and later to pull data via automated queries that also overcome common issues in exported reports.
• Creating an in-cell list by way of Excel’s Data Validation feature.
• Understanding the use of the MONTH function to return the month portion of a date or month name.
• Automating the extraction of data for a given month or year to date by way of the OFFSET function.
• Using the SUMIFS function to sum values for a single account or a range of account numbers.
• Using Conditional Formatting to draw attention to reports that don’t balance to the source data.
• Using the Group command to interactively hide/unhide columns (and/or rows) within Excel worksheets.
• Seeing how to use the Trusted Document feature in Excel 2010 and later to suppress the Data Connection security prompt.
• Consolidating financial statement exports from two or more entities by appending queries within Power Query.
• Adding a refinement to the SUMIFS function to allow the report to consolidate numbers or display departmental values.

Target Industries:

  • Accounting and Finance
  • Business
  • Excel Users
  • Consulting
  • IT
  • Auditing
  • Human Resources
  • Marketing
  • Sales
  • Government
  • Tax

Target Job Title:

  • Accountants
  • CPAs
  • CFOs
  • Controllers
  • Income Tax Preparers
  • Enrolled Agents
  • Financial Consultants
  • IT Professionals
  • Auditors
  • Human Resource Personnel
  • Bookkeepers
  • Excel Users
  • Marketers
  • Government Personnel

About the Instructor:

David H. Ringstrom, CPA, is an author and nationally recognized instructor who teaches scores of webinars each year. His Excel courses are based on over 25 years of consulting and teaching experience. David’s mantra is “Either you work Excel, or it works you,” so he focuses on what he sees users don’t, but should, know about Microsoft Excel. His goal is to empower you to use Excel more effectively. To learn more about David, you can view his LinkedIn profile and follow him on Facebook or Twitter (@excelwriter).

About Expert

David Ringstrom

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David H. Ringstrom, CPA, is an author and nationally recognized instructor who teaches scores of webinars each year. His Excel courses are based on over 25 years of consulting and teaching experience. David’s mantra is “Either you work Excel, or it works you,” so he focuses on what he sees users don’t, but should, know about Microsoft Excel. His goal is to empower you to use Excel more effectively. To learn more about David, you can view his LinkedIn profile and follow him on Facebook or Twitter (@excelwriter).

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Questions and Answers

Questions and Answers

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Q: about lecture?

A: Hi there, thank you for your interest in my course. The only part of your question I can see is "about lecture?". That doesn't give me much to go on, so I'll just say that this presentation shows how to use Power Query to link to 12 month accounting reports and then use formulas and techniques in Excel to create a financial report that can display activity for any month of the year, as opposed to the typical approach of building out a worksheet for every month of the year.

  • David Ringstrom
  • October 7, 2021

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