What can be used in excel formulas

Table Of Content

• The Uses of Excel in Professional Fields
• Complete Excel Formulas with Their Functions
• Conclusion

Also Read: 5 Common Bookkeeping Mistakes on Small Businesses

The Uses of Excel in Professional Fields

Many job openings require candidates to master Excel. Not surprisingly, excel is needed by a wide variety of fields of work that require data collection.

To that end, we will present the following professions, which can benefit from the use of Excel, among others:

Accountancy

It is widespread for accountants to be able to use Excel. The field of accounting benefits from using Microsoft Excel in several ways, including making it easier to calculate corporate profit and loss, identify large profits over a period, calculate employee salaries, and more.

An accountant can facilitate his work by using the accounting system as a tool he worked. The system can provide convenience in managing the company’s financial circulation and calculating it optimally and accurately.

Also Read: Salary Slip: Understanding, Benefits, Format, Example

Mathematical calculations

The next advantage of using Microsoft Excel is mathematical calculations. Use calculations to find data from numbers, subtractions, multiplications, and divisions, as well as various other variations such as calculating the slope.

Data processing

In data management, there are helpful excel formulas, including managing statistical databases, calculating data, searching for median values, and averages, and searching for the maximum and minimum values of data sets.

Graphic creation

Excel allows you to create graphics. Such as graphing population development data for one year, the graph of student library visits for one year, the student graduation graph for six years, the graph of student number development for three years, and others.

Table operations

The last application is to be able to operate the table. With a total of 1,084,576 rows and 16,384 columns in Microsoft Excel, it will make it easier for you to enter data that requires a large number of columns and rows.

Complete Excel Formulas with Their Functions

In addition to the functionality and use of Microsoft Excel mentioned earlier, operating this Excel program requires Excel formulas. Each formula has a different function that you can use for a specific need.

Here are the Excel formulas you need to know, among others:

Formulas	Functional Description
SUM	Summing
AVERAGE	Looking for Average Values
AND	Finding Value by comparison and
NOT	Finding Value with Exceptions
OR	Finding Value by Comparison or
SINGLE IF	Looking for Values If Conditions ARE RIGHT/WRONG
MULTI IF	Finding Values If Conditions ARE RIGHT/WRONG With Many Comparisons
AREAS	View The Number of Areas (Range or Cells)
CHOOSE	View Selection Results Based on Index Numbers
HLOOKUP	Search for Data from a table organized in a horizontal format
VLOOKUP	Search for Data from a table arranged in an upright format
MATCH	Displays the position of a specific cell address
COUNTIF	Counting the Number of Cells in a Range with specific criteria
COUNTA	Counting the Number of Filled Cells
CEILING	Round the number up
FLOOR	Rounds numbers down
DAY	Looking for The Value of the Day
MONTH	Searching for the Value of the Moon
YEAR	Looking for Year Value
DATE	Get a Date Value
LOWER	Change text letters to lowercase
UPPER	Change Text Letters to UpperCase
PROPER	Change the Initial Character of the Text To UpperCase

For more information about how to use the excel function formulas mentioned above, here is a detailed description, along with examples:

SUM

This Excel summation formula has the primary function of summing numbers in specific cells. However, it is also often used to complete a job or task quickly. 

To use SUM, first create a summation table and enter the summation formula below. For example, =SUM(G8:H8), or as shown in the image below:

Then, if the SUM formula has been entered, press enters to specify the amount. As shown in the picture below:

AVERAGE

The primary function of the AVERAGE formula or the average formula in Excel is to find the average value of a variable. The trick is to create a table for grades and then enter the AVERAGE formula to determine the student’s grade point average. For example, =AVERAGE(D2:F2), as in the following image:

If you enter the AVERAGE formula, press enters to see the result, shown in the image below.

AND

The AND formula function generates a TRUE value if all previously tested arguments are correct or can return a FALSE value if all arguments or answers are incorrect.

To determine TRUE or FALSE, you must create a table and enter THE FORMULA AND. For example, =AND(G7>I7).

This technique is usually used to help fill out questionnaires or answer question columns to speed up the value-setting process.

NOT

The NOT formula has the opposite function of the AND formula because it produces TRUE if the condition tested is FALSE and FALSE if the condition tested is TRUE.

The first step is to create a table and enter the FORMULA NOT to find out the results. For example, as shown in the diagram below, =NOT(G7>J7).

OR

The OR is the following excel formula that will produce TRUE data if some given argument is correct. If all of the arguments presented are incorrect, the answer is FALSE.

A student’s average test score result is an example of how OR can use it in Excel. If it is less than 70, he must repeat the course; if it is greater than 70, the student graduates.

SINGLE IF

The IF function is to return a value that, when examined, is TRUE and another value that is visible as FALSE.

Not much different from the technique of using formulas in OR. It just seems more straightforward.

For example, when a student’s average grade is less than 75, that student does not graduate, and vice versa. How to create an IF formula is =IF(J8<75;” NOT GRADUATING”;” PASS”). To be clear, take a look at the following image:

After entering the formula, press enters, and the result will match what you ordered.

MULTI IF

This formula is a further lesson from SINGLE IF, but if SINGLE IF only uses only one condition with two options, The MULTI IF uses two terms and three options.

A Double/Multi FORMULA is a type of logic-IF formula consisting of 2 or more IF in formula writing. If a single IF only needs 1 IF, for example, =IF(B2=>=70;” Graduated”;” Failed”) then Double IF requires more than 1 IF, for example, =IF(B2>=70;” Good”;IF(B2>=50;” Enough”;” Less”)).

So that the full Excel formula will provide Syntax on Double / Multi IF, among others:

=IF(Logical_Test; Value_If_True;IF(Logical_Test; Value_If_True; Value_If_False))

AREAS

You can use the usability of AREAS if you want to calculate the number of areas you want to select. The AREAS formula can use the formula =AREAS(G6:K8).

The result is one area. The results are based on the example in the image of selecting only one range of cells.

CHOOSE

The primary function of a CHOOSE formula is to display selection results based on index numbers or sequences in reference (VALUE) that contain text, numeric, formula, or range names. The image below shows an example of how to write the CHOOSE formula.

Meanwhile, the results of the CHOOSE formula are shown in the image below.

HLOOKUP

The HLOOKUP function displays data from tables arranged horizontally. However, The arrangement of tables or data in the first row should be based on small to large sequences or raising them. 

For example, the number 1,2,3,4… Or the letter A-Z. Sort by ascending the menu if you previously typed randomly. Cases like the ones listed below are examples.

=HLOOKUP(Cells that contain packet types; Range cell table details costs; The location of the data column you want to retrieve;0).

VLOOKUP

The primary function of the VLOOKUP formula is almost identical to the HLOOKUP formula; The difference is that the VLOOKUP formula displays data from tables arranged in an upright or vertical format. The requirement is that the first row of the data table is prepared in small to large order or up.

For example 1,2,3,4… Or the letter A-Z. For example 1,2,3,4… Or the letter A-Z. Sort through the Ascending menu if you previously typed randomly.

MATCH

The MATCH function is one of the components of an Excel formula that you can use to perform lookups or reference data searches.

The MATCH function works by finding the relative position of a value in a range or array and generating a number that is the index of the cell’s relative position that contains the value it is looking for.

The use of the Excel MATCH function must follow the syntax rules, namely MATCH(lookup_value, lookup_array, [match_type])

To better understand, understand the image below:

COUNTIF

COUNTIF is a helpful formula for counting the number of cells that have the same criteria. As a result, you no longer have to struggle with data sorting.

Assume you’re doing a survey. You want to know how many civil servants there are out of 20 respondents. As a result, you can use the following formulas:

To get started, all you need to do is enter the range of cells you want to identify into the COUNTIF formula (B2:B21)

Then, enter the cell calculation criteria, namely “PNS” (must be in quotation marks).

This formula produces a result of 7. So, out of 20 respondents, seven were civil servants.

COUNTA

COUNTA has the function of counting the number of cells that contain numbers and the number of cells that contain anything. As a result, you can determine the number of cells that are not empty.

Assume that cells A1 through D1 are words and cells G1 through I1 number. Therefore the use of the formula is =COUNTA(A1:I1)

That results in 7 because the empty cells are only E1 and F1.

CEILING

The CEILING formula can round the number UP at the multiple values of a specific number. The formula is CEILING (CELLS number; Multiples).

Misalnya, CEILING(G9;100). Then the number on Cells G9 will be rounded up with a multiple of 100.

FLOOR

If the previous use of the formula is to round to the nearest integer and above, the FLOOR formula is used to round to the nearest integer. The formula is almost identical to the one for CEILING, but with the addition of FLOOR.

The FLOOR formula is FLOOR (Number cell; Multiples).

DAY

The DAY formula is used to find the date type data’s day (in the numbers 1-31). Consider the DAY function (column B). The date data in column A will be extracted and converted into numbers 1-31, following the explanation through the image:

After entering the formula =DAY(NUMBER), press enters and see the results below:

MONTH

Almost similar to the DAY formula, the use of the MONTH formula to search for months (in numbers 1-12) from date type data. For example, the use of the MONTH function (column K) of a column I date data, after extracting it, produces the numbers 1-12 as in the figure below:

YEAR

Meanwhile, there is a YEAR formula. The way you use this formula is similar to the way the previous two formulas were. The use of the YEAR formula takes years (in the range of 1900-9999) from date-type data.

DATE

The DATE formula has a function that allows you to get date data types by entering years, months, and days. The DATE function is the opposite of the DAY, MONTH, and YEAR functions, which describe month and year-type data from their respective dates.

Year, month, and day data in the form of numbers combined with the DATE function generate data with data types, as shown in the figure below. Date formula writing image, namely:

LOWER

The lower formula function converts all uppercase letters in the text to lowercase. To use the formula, type the LOWER command, and texts will convert the desired writing to lowercase.

For example, when implementing the LOWER formula with the formula =LOWER (Don’t Forget to Use HashMicro Software), the result is “don’t forget to use has micro software.”

UPPER

In addition to lower formulas, Microsoft Excel includes upper formulas. The use of UPPER is to convert all text containing lowercase letters into uppercase, the opposite of the LOWER function.

For example, if you type UPPER (hashmicro), your writing will be entirely in capital letters.

PROPER

Sometimes you forget to write sentences in all lowercase letters and no capital letters. So with the PROPER formula, you can capitalize on the first character in each word while keeping the rest. The formula is APPROPRIATE (text).

Conclusion

Although understanding Excel entirely takes time, you will be familiar with all the correct formulas and applications.

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Data comes to use only when you can actually work on it and Excel is one tool that provides a great amount of convenience both when you have to formulate equations of your own or make use of the built-in ones. In this article, you will be learning how you can actually work with these Excel Formulas ad Functions.

Here is a quick look at the topics that are discussed over here:

• What is a Formula?
• Writing Excel Formulas
• Editing a Formula
• Copy/ Paste a Formula
• Hide Formulas in Excel
• Operator Precedence Excel Formulas
• What are Functions in Excel?
• Most Important Functions 

What is a Formula?

In general, a formula is a condensed way of representing some information in terms of symbols. In Excel, formulas are expressions that can be entered into the cells of an Excel sheet and their outputs are displayed as a result. 

Excel formulas can be of the following types:

Type	Example	Description
Mathematical operators( +, -, *, etc)	Example: =A1+B1	Adds the values of A1 and B1
Values or text	Example: 100*0.5 multiples 100 times 0.5	Takes the values and returns the output
Cell reference	EXAMPLE: =A1=B1	Returns TRUE or FALSE by comparing A1 and B1
Worksheet functions	EXAMPLE: =SUM(A1: B1)	Returns the output by adding values present in A1 and B1

Writing Excel Formulas:

In order to write a formula to an Excel sheet cell, you can do as follows:

• Select the cell where you want the result to be displayed
• Type a “=” sign initially to let Excel know that you are going to enter a formula in that cell
• After that, you can either type the cell addresses or specify the values that you intend to calculate
• For example, if you want to add the values of two cells, you can type in the cell address as follows:

• You can also select the cells whose sum you want to calculate by selecting all the required cells while pressing down the Ctrl key:

Editing a Formula:

In case you want to edit some previously entered formula, simply select the cell that contains the target formula and in the formula bar you can make the desired changes. In the previous example, I have calculated the Sum of A1 and A2. Now, I will edit the same and change the formula to calculate the product of the values present in these two cells:

Once this is done, press Enter to see the desired output.

Copy or Paste a Formula:

Excel comes in really handy when you have to copy/ paste formulas. Whenever you copy a formula, Excel automatically takes care of the cell references that are required at that position. This is done through a system called as Relative Cell Addresses.

To copy a formula, select the cell that holds the original formula and then drag it till that cell which requires a copy of that formula as follows:

As you can see in the image, the formula is written originally in A3 and then I have dragged it down along B3 and C3 to calculate the sum of B1, B2 and C1, C2 without exclusively writing down the cell addresses.

In case I change the values of any of the cells, the output will be updated automatically by Excel in accordance with the Relative Cell Addresses, Absolute Cell Addresses or Mixed Cell Addresses.

Hide Formulas in Excel:

In case you want to hide some formula from an excel sheet, you can do it as follows:

• Select the cells whose formula you intend to hide
• Open the Font window and select the Protection pane
• Check the Hidden option and click on OK
• Then, from the ribbon tab, select Review
• Click on Protect sheet (Formulas will not work if you do not do this)
• Excel will ask you to enter a password in order to unhide the formulas for future use

Operator Precedence of Excel Formulas:

Excel formulas follow the BODMAS (Brackets Order Division Multiplication Addition Subtraction) rules. If you have a formula that contains brackets, the expression within the brackets will be solved before any other part of the complete formula. Take a look at the image below:

As you can see in the above example, I have a formula that consists of a bracket. So in accordance with the BODMAS rules, Excel will first find the difference between A2 and B1 and then it adds the result with A1.

What are ‘Functions’ in Excel?

In general, a function defines a formula that is executed in some given order. Excel provides a huge number of built-in functions that can be used in order to calculate the result of various formulas.

Formulas in Excel are divided into the following categories:

Catagory	Important Formulas
Date & Time	DATE, DAY, MONTH, HOUR, etc
Financial	ACCINT, ACCINTM, DOLLARDE, INTRAATE, etc
Math & Trig	SUM, SUMIF, PRODUCT, SIN, COS, etc
Statistical	AVERAGE, COUNT, COUNTIF, MAX, MIN, etc
Lookup & Reference	COLUMN, HLOOKUP, ROW, VLOOKUP, CHOOSE, etc
Database	DAVERAGE, DCOUNT, DMIN, DMAX, etc
Text	BAHTTEXT, DOLLAR, LOWER, UPPER, etc
Logical	AND, OR, NOT, IF, TRUE, FALSE, etc
Information	INFO, ERROR.TYPE, TYPE, ISERROR, etc
Engineering	COMPLEX, CONVERT, DELTA, OCT2BIN, etc
Cube	CUBESET, CUBENUMBER, CUBEVALUE, etc
Compatibility	PERCENTILE, RANK, VAR, MODE, etc
Web	ENCODEURL, FILTERXML, WEBSERVICE

Now, let us check out how to make use of some of the most important and commonly used Excel Formulas.

Most Important Excel Functions:

Here are some of the most important Excel functions along with their descriptions and examples.

 DATE:

One of the most important and widely used Date function in Excel is the DATE function. The syntax of it is as follows:

DATE(year, month, day)

This function returns a number that represents the given date in the MS Excel date-time format. The DATE function can be used as follows:

EXAMPLE:

1. =DATE(2019,11,7)
2. =DATE(2019,11,7)-7 (returns the current date – seven days)

DAY:

This function returns the day value of the month (1-31). The syntax of it is as follows:

DAY(serial_number)

Here, serial_number is the date whose day you want to retrieve. It can be given in any manner such as the result of some other function, supplied by the DATE function, or a cell reference.

EXAMPLE:

1. =DAY(A7)
2. =DAY(TODAY())
3. =DAY(DATE(2019, 11,8))

MONTH:

Just like the DAY function, Excel provides another function i.e the MONTH function to retrieve the month from a specific date. The syntax is as follows:

MONTH(serial_number)

EXAMPLE:

1. =MONTH(TODAY())
2. =MONTH(DATE(2019, 11,8))

Percentage:

As we all know, Percentage is the ratio calculated as a fraction of 100. It can be denoted as follows:

Percentage = (Part/ Whole) x 100

In Excel, you can calculate the percentage of any desired values. For example, if you have the part and whole values present in A1 and A2 and you want to calculate the percentage, you can do it as follows:

• Select the cell where you want to display the result
• Type “=” sign
• Then, type in the formula as A1/ A2 and hit Enter
• From the home tab numbers group, select the “%” symbol

IF:

The IF statement is a conditional statement that returns True when the specified condition is satisfied and Flase when the condition is not. Excel provides a built-in “IF” function that serves this purpose. Its syntax is as follows:

IF(logical_test, value_if_true, value_if_false)

Here, logical_test is the condition that is to be checked

EXAMPLE:

• Enter the values to be compared
• Select the cell that will display the output
• Type in the Formula Bar “=IF(A1=A2, “Yes”, “No”)” and hit enter

VLOOKUP:

This function is used in order to look up and fetch some particular data from a column from an Excel sheet. The “V” in VLOOKUP stands for vertical lookup. It is one of the most important and widely used formulas in Excel and in order to use this function, the table must be sorted in ascending order. The syntax of this function is as follows:

VLOOKUP(lookup_value, table_array, col_index, num_range, lookup)  

where,

lookup_value is the value to be searched

table_array is the table that is to be searched

col_index is the column from which the value is to be retrieved

range_lookup (optional) returns TRUE for approx. match and FALSE for an exact match

EXAMPLE:

As you can see in the image, the value that I have specified is 2 and the table range is between A1 and D4. I want to fetch the name of the employee, therefore I have given the column value as 2 and since I want it to be an exact match, I used False for range lookup.

Income Tax:

Suppose you want to calculate the income tax of a person whose total salary is $300. You will need to calculate the income tax as follows:

• List down the Total Salary, Salary Deductions, Taxable Income and the percentage of Tax on Income
• Specify the values of Total Salary, Salary Deductions
• Then calculate the Taxable Income by finding the difference between Total Salary and Salary Deductions
• Finally, calculate the Tax Amount

SUM:

The SUM function in Excel calculates the result by adding all the specified values in Excel. The syntax of this function is as follows:

SUM(number1, number2, …)

Adds all the numbers that are specified as a parameter to it.

EXAMPLE:

In case you want to calculate the sum of the amount you spent in purchasing vegetables, list down all the prices and then use the SUM formula as follows:

Compound Interest:

To calculate compound interest, you can make use of one of the Excel Formulas called FV. This function will return the future value of an investment on the basis of periodic, constant interest rate and payments. The syntax of this function is as follows:

FV(rate, nper, pmt, pv, type)

In order to calculate the rate, you will need to divide the annual rate by the number of periods i.e annual rate/ periods. No. of periods or nper is calculated by multiplying the term (no. of years) with the periods i.e term * periods. pmt stands for periodic payment and can be any value including zero.

Consider the following example:

In the above example, I have calculated the Compound Interest for $500 at a rate of 10% for 5 years and assuming that the periodic payment value is 0. Please note that I have used -B1 meaning, $500 has been taken from me.

Average:

The average, as we all know, depicts the median value of a number of values. In Excel, the average can be easily calculated using the built-in function called “AVERAGE”. The syntax of this function is as follows:

AVERAGE(number1, number2, …)

EXAMPLE:

In case you want to calculate the average marks attained by students in all the exams, you can simply create a table and then use the AVERAGE formula to calculate the average marks attained by each student.

In the above example, I have calculated the average marks for two students in two exams. In case you have more than two values whose average needs to be determined, you just have to specify the range of cells wherein the values are present. For example:

COUNT:

The count function in Excel will count the number of cells containing numbers in a given range. The syntax of this function is as follows:

COUNT(value1, value2, …)

EXAMPLE:

In case I want to calculate the number of cells holding numbers from the table I created in the previous example, I will simply have to select the cell wherein I want to display the result and then make use of the COUNT function as follows:

ROUND:

In order to round off values to some specific decimal places, you can make use of the ROUND function. This function will return a number by rounding it off to the specified number of decimal places. The syntax of this function is as follows:

ROUND(number, num_digits)

EXAMPLE:

Finding Grade:

In order to find grades, you will have to make use of nested IF statements in Excel. For example, in the Average example, I had calculated the average marks scored by students in the tests. Now, to find the Grades attained by these students, I will have to create a nested IF function as follows:

As you can see, the average marks are present in column G. To calculate the grade, I have used a nested IF formula. The code is as follows:

=IF(G19>90,”A”,(IF(G19>75,”B”,IF(G19>60,”C”,IF(G19>40,”D”,”F”)))))

After doing this, you will just have to copy the formula to all the cells where you want to display the grades.

RANK:

In case you want to determine the Rank attained by the students of a class, you can make use of one of the built-in Excel Formulas i.e RANK. This function will return the Rank for a specified range by comparing a given range in the ascending or in the descending order. The syntax of this function is as follows:

RANK(ref, number, order)

EXAMPLE:

As you can see, in the above example, I have calculated the Rank of the students using the Rank function. Here, the first parameter is the average marks attained by each student and the array is the average attained by all other students of the class. I have not specified any order, therefore, the output will be determined in the descending order. For ascending order ranks, you will have to specify any nonzero value.

COUNTIF:

In order to count the cells based on some given condition, you can use one of the built-in Excel Formulas called “COUNTIF”. This function will return the number of cells that satisfy some condition in a given range. The syntax of this function is as follows:

COUNTIF(range, criteria)

EXAMPLE:

As you can see, in the above example, I have found the number of cells having values that are greater than 80. You can also give some text value to the criteria parameter.

INDEX:

The INDEX function returns a value or cell reference at some particular position in a specified range. The syntax of this function is as follows:

INDEX(array, row_num, column_num) or

INDEX(reference, row_num, column_num, area_num)

The index function works as follows for the Array form:

• If both row number and column number are supplied, it returns the value that is present at the intersection cell
• If the row value is set to zero, it will return the values present in the entire column in the specified range
• If the column value is set to zero, it will return the values present in the entire row in the specified range

The index function works as follows for the Reference form:

• Returns the reference of the cell where the row and the column values intersect
• The area_num will indicate which range is to be used in case multiple ranges have been supplied

EXAMPLE:

As you can see, in the above example, I have used the INDEX function to determine the value present in the 2nd row and 4th column for the range of cells between A18 to G20.

Similarly, you can also use the INDEX function by specifying multiple references as follows:

The Excel Formulas Ultimate Guide 

Introduction to Excel Formulas

In this guide, we are going to cover everything you need to know about Excel Formulas. Learning how to create a formula in Excel is the building block to the exciting journey to become an Excel Expert. So, let’s get started!

What is an Excel Formula?

Excel Formulas are often referred to as Excel Functions and it’s no big deal but there is a difference, a function is a piece of code that executes a predefined calculation, and a formula is an equation created by the user.

A formula is an expression that operates on values in a cell or range of cells. An example of a formula looks like this: = A2 + A3 + A4 + A5. This formula will result in the sum of the range of values from cell A2 to cell A5.

A function is a predetermined formula in Excel. It shows calculations in a particular order defined by its parameters. An example of a function is =SUM (A2, A5). This function will also provide the addition of values in the range of cells from A2 to A5 but here instead of specifying each cell address we are using the SUM function.

How To Write Excel Formulas

Let’s look at how to write a formula on MS Excel. To begin with, a formula always starts with a ‘+’ or ‘=’ sign, if you start writing the formula without any of these two signs, Excel will treat the value in that cell as text and will not perform any function.

In the screenshot below, you need to calculate the total sales amount by multiplying quantity sold with unit price. Select cell D2, type the formula ‘=B2*C2’ and press Enter. The result will display on cell D2.

Apply A Formula To An Entire Column Or Range

To copy a formula to adjacent cells, you can do the following:

1. Select the cell with the formula and the adjacent cells you want to fill, then drag the fill handle.

1. Select the cell with the formula and the adjacent cells you want to fill, then press Ctrl+D to fill the formula down in a column, or Ctrl+R to fill the formula to the right in a row.
2. Select the cell with the formula and the adjacent cells you want to fill, then Click Home > Fill, and choose either Down, Right, Up, or Left.

How to Copy A Formula And Paste It

Excel allows you to copy the formula entered in a cell and paste it on to another cell, which can save both time and effort. To copy paste a formula:

1. Select the cell whose formula you wish to copy
2. Press Ctrl + C to copy the content
3. Select the cell or cells where you wish to paste the formula. The copied cells will now have a dashed box around them.
4. Press Alt + E + S to open the paste special box and select ‘Formula’ or Press “F’ to paste the formula.

1. The formula will be pasted into the selected cells.

Basic Excel Formulas

Let’s start off with simple Excel Formulas. In the screenshot below, there are two columns containing numbers and we would like to use different operators like addition, subtraction, multiplication, and division on those to get different results. Excel uses standard operators for formulas, such as a plus sign for addition (+), a minus sign for subtraction (-), an asterisk for multiplication (*), a forward slash for division (/).

• Addition– To add values in the two columns, simply type the formula =A2+B2 on cell C2 and then copy paste the same on the cells below.
• Subtraction – To subtract values in Column B from Column A, simply type the formula =B2-A2 on cell C2 and then copy paste the same on the cells below.
• Multiplication – To multiply values in the two columns, simply type the formula =A2*B2 on cell C2 and then copy paste the same on the cells below.
• Division – To divide values in Column a by values in Column B, simply type the formula =A2/B2 on cell C2 and then copy paste the same on the cells below.

We can also calculate the percentage using Excel Formulas. In the image below, we have sales in Year 1 and Year 2 and we would like to know the % growth in sales from Year 1 to Year 2.

To do that, select cell C2 and type the formula = (B2 – A2)/B2*100

Basic Excel Functions

A function is a predefined formula that performs calculations using specific values in a particular order. Excel includes many common functions that can be useful for quickly finding the sum, average, count, maximum value, and minimum value for a range of cells. a function must be written a specific way, which is called the syntax.

The basic syntax for a function is an equals sign (=), the function name, and one or more arguments. A Function is generally comprised of two components:

1) A function name -The name of a function indicates the type of math Excel will perform.

2) An argument – It is the values that a function uses to perform operations or calculations. The type of argument a function uses is specific to the function. Common arguments that are used within functions include numbers, text, cell references, and names

Let’s look at some common Excel Functions:

SUM Function

The SUM formula adds 2 or more numbers together. You can use cell references as well in this formula.

Syntax: =SUM(number1, [number2], …)

Example: =SUM(A2:A8) or SUM(A2:A7, A9, A12:A15)

AUTOSUM Function

The AutoSum command allows you to automatically insert the most common functions into your formula, including SUM, AVERAGE, COUNT, MIN, and MAX.

Select the cell where you want the formula, Go to Home > Click on AutoSum > From the dropdown click on “Sum” > Enter.

COUNT Function

If you wish to how many cells are there in a selected range containing numeric values, you can use the function COUNT. It will only count cells that contain either numbers or dates.

Syntax: =COUNT(value1, [value2], …)

In the example below, you can see that the function skips cell A6 (as it is empty) and cell A11 (as it contains text) and gives you the output 9.

COUNTA Function

Counts the number of non-empty cells in a range. It will include cells that have any character in them and only exclude blank cells.

Syntax: =COUNTA(value1, [value2], …)

In the example below, you can see that only cell A6 is not included, all other 10 cells are

counted.

AVERAGE Function

This function calculates the average of all the values or range of cells included in the parentheses.

Syntax: =AVERAGE(value1, [value2], …)

ROUND Function

This function rounds off a decimal value to the specified number of decimal points. Using the ROUND function, you can round to the right or left of the decimal point.

Syntax: =ROUND(number,num_digit)

This function contains 2 arguments. First, is the number or cell reference containing the number you want to round off and second, number of digits to which the given number should be rounded.

• If the num-digit is greater than 0, then the value will be rounded to the right of the decimal point.
• If the num-digit is less than 0, then the value will be rounded to the left of the decimal point.
• If the num-digit equal to 0, then the value will be rounded to the nearest integer.

MAX Function

 This function returns the highest value in a range of cells provided in the formula.

Syntax: =MAX(value1, [value2], …)

In the example below, we are trying to calculate the maximum value in the dataset from A2 to A13. The formula used is =MAX(A2: A13) and it returns the maximum value i.e. 96.251

MIN Function

This function returns the lowest value in a range of cells provided in the formula.

Syntax: =MIN(value1, [value2], …)

In the example below, we are trying to calculate the minimum value in the dataset from A2 to A13. The formula used is =MIN(A2: A13) and it returns the minimum value i.e. 24.178

TRIM Function

 This function removes all extra spaces in the selected cell. It is very helpful while data cleaning to correct formatting and do further analysis of the data.

Syntax: =trim(cell1)

In the example below, you can see the name in cell A2 contains an extra space, in the beginning, =TRIM(A2) would return “Steve Peterson” with no spaces in a new cell.

Advanced Excel Formulas

Here is a list of Excel Formulas that we would feel comfortable referring to as the top 10 Excel Formulas. These formulas can be used for basic problems or highly advanced problems as well, though advanced excel formulas are nothing but a more creative way of using the formulas. Sure, there are legitimate Advanced Excel Formulas such as Array Formulas but in general the more advanced the problem, the more creative you need to be with Formulas.

Currently, Excel has well over 400 formulas and functions but most of them are not that useful for corporate professionals so here is a list that we believe contains the 10 best Excel formulas.

Starting with number 10 – it’s the IFERROR formula

1. IFERROR Function –
2. SUBTOTAL Function –
3. SMALL/LARGE Function –
4. LEFT Function –
5. RIGHT Function –
6. SUMIF Function –
7. MATCH Function –
8. INDEX Function –
9. VLOOKUP Function –
10. IF Function –

IFERROR Function –

You ever have presented a worksheet that you thought was perfect but were surprised with a “#DIV /0!” error or an “#N/A” error message (See the screenshot below), then this function is perfect for you. Excel has an “IFERROR” function that can automatically replace error messages with a message of your choice.

The IFERROR function has two parameters, the first parameter is typically a formula and the second parameter, value_if_error, is what you want Excel to do if value, the first parameter, results in an error. Value_if_error can be a number, a formula, a reference to another cell, or it can be text if the text is contained in quotes.

That means you can put formula or an expression in the first part of the IFERROR function and Excel will show the result of that formula unless the formula results in an error. If the formula results in an error, Excel will follow the instructions in the second half of the IFERROR formula.

This function cleans up your sheet and it will visually make things look a lot better and more professional.

Let’s see an example to make the concept clearer.

In this example, we have two lists – one contains the names of all people (Column A) and the second list contains the name of award winners only (Column F).

We have used a simple Vlookup function to see if the name is an award winner. The Vlookup function (it is covered later in details) will search the list on the right, if the name is present in the award winner list, it will show the name or else it will show an error.

The N/A error makes the worksheet look dirty and unprofessional. Now we will add iferror function here to remedy the same.

=IFERROR(VLOOKUP(A5,$F$5:$F$10,1,0),””)

IFERROR function will recognize the error and instead of displaying the error message will display the text, say a blank, or you can show any other message that you desire.

IFERROR is a great way to replace Excel-generated error messages with explanations, additional information, or simply leave the cell blank.

SUBTOTAL Function –

The SUBTOTAL function returns the aggregate value of the data provided. You can select any of the 11 functions that SUBTOTAL can calculate like SUM, COUNT, AVERAGE, MAX, MIN, etc. SUBTOTAL Function can also include or exclude values in hidden rows based on the input provided in the function.

Excel’s traditional formulas do not work on filtered data since the function will be performed on both the hidden and visible cells. To perform functions on filtered data one must use the subtotal function.

Syntax: SUBTOTAL(function_num,ref1,…)The first parameter is the name of the function to be used within the subtotal function and the second parameter is the range of cells that should be subtotalled

The list of functions that can be used in given below. If the data is filtered manually, the numbers from 1 – 11 will include the hidden cells and number from 101 – 111 will exclude them.

Let’s understand this function with an example.

Here we have a list of name of person, with their country and the total sales they have achieved in Q1. We will use the subtotal function to calculate the total sales in cell C26. We will also select the function in such a way that it works on filtered data as well.

The formula will be =SUBTOTAL (109,C5:C24)

This will display the total sales. Now, we filter the data to see the sales made by people in US only. You will see the value in the cell containing the SUBTOTAL function updates and it filters the dataset and displays the total sales made by US only.

Here is another benefit of using a SUBTOTAL function:

When you’re creating an information summary, especially like a profit and loss statement where you’ve got lots of subtotals, what you can do is you can use the subtotal formula, and then at the end, you can put a big old formula right at the end and it will just ignore your subtotal.

Here we have 4 different tables for sales in 4 different countries.

We can add individual SUBTOTAL functions for each table and then a grand total function in the end. The SUBTOTAL function in the end will ignore all the other SUBTOTAL functions above it and will provide you the total sales.

SMALL/LARGE Function –

Here, we have two formulas and they’re two sides of the same coin – the small formula and the large function. So, imagine you’ve got a list of, let’s say, sales data or cost data and what SMALL Function will do is provide you with the smallest value in the data set. You can also specify if you want the first smallest or second smallest. Similarly, with the large formula, you can extract the largest value in this dataset, the second largest and so on.

Syntax: =LARGE(array,k); SMALL(array,k)

The first parameter is the range of data for which you want to determine the k-th largest value and the second is the position (from the largest/smallest) in the cell range of the value to return.

Now, in the dataset above if you want to know the person who has achieved the highest sales, you can use the LARGE function – =LARGE($C$4:$C$23,E5). We have used E5 for the second parameter as it contains the value 1. If we copy paste the formula in the cells below, you will get the 1^st, 2^nd, 3^rd, 4^th and 5^th largest value in the dataset. Similarly, we have used the function SMALL to get the value for lowest sales.

LEFT & RIGHT Function –

A lot of people work on text manipulation with functions like text to columns or even do it manually but being able to extract the exact number of characters that you want from the left or the right side of a string is absolutely invaluable. This is what the LEFT and RIGHT function does – it extracts a given number of characters from the left/right side of a supplied text string.

Syntax: =LEFT (text, [num_chars]) and RIGHT(text,num_chars)

The first parameter is the text string containing the characters you want to extract and the second parameter specifies how many characters you want LEFT/RIGHT to extract; 1 if omitted.

In the example given below, we have full names of people and we would like to extract the first name. We can surely do it using text to column, but using the LEFT function will give us a more automated result. So, let’s see how it can be done.

When you look at the data, you can see that a character is common in all names and it separates the first name and last name – it is a “space”. If we can find out the position of space in each cell, we can easily extract the first name.

Does Excel have a formula for this as well? Off course! SEARCH is the function that will come to your rescue.

SEARCH function provides the position of the first occurrence of the specified character.SEARCH (find_text, within_text, start_num) has three parameters – first is the character you want to find, second is the text in which you want to search and third is the character number in Within_text, counting from the left, at which you want to start searching. If omitted, 1 is used.

So, going back to our example, we use the formula SEARCH to find the position of the character – space in Column A. We will need to subtract “1” from the position to get the desired result. The formula will be =SEARCH (“ “,A5)-1 and copy paste it down.

Now we will use the LEFT Function to get the first name. =LEFT(A5,B5) – A5 contains the full name and B5 contains the number of characters from left that contains the first name.

SUMIF(S) Function –

This function is used to conditionally sum up a range of values. It returns the summation of selected range of cells if it satisfies the given criteria. It is like the SUM function because it adds stuff up. But, it allows us to specify conditions for what to include in the result. Criteria can be applied to dates, numbers, and text using logical operators (>,<,<>,=) and wildcards (*,?) for partial matching. For example, SUMIF function can add up the quantity column, but only include those rows where the SKU is equal to, say A200.

Syntax: =SUMIF (range, criteria, [sum_range])

The first argument is the range of values to be tested against the given criteria, second argument is the condition to be tested against each of the values and the last argument is the range of numeric values if the criteria is satisfied. The last argument is optional and if it is omitted then values from the range argument are used instead.

SUMIF can handle one criterion only. For multiple conditional summing – we can use SUMIFS.

The Syntax of this function is =SUMIFS( sum_range, criteria_range1, criteria1, [criteria_range2, criteria2], … ); where sum_range is the range of values to add, criteria_range1 is the range that contains the values to evaluate and criteria1 is the value that criteria_range1 must meet to be included in the sum. You can add additional pairs of criteria range and criteria if further conditions are to be met.

It is advisable to use SUMIFS even if you have only one criteria to evaluate as it will help you to easily modify the function if additional conditions come up over time.

Let’s dive into an example. Below we have data containing name, country in which sales were made, and the different quarterly sales data.

Using SUMIFS function, we would like to calculate the sum of sales in Q1 for the different countries. Now, to get the total sales in UK in Q1, we select the cell I4 and type the formula =SUMIFS(C4:C23,B4:B23,H4). We will then copy paste the formula below to get the result for each country.

INDEX & MATCH Function –

The MATCH function is used to search for an item and return the relative position of that item in a horizontal or vertical list.

Syntax: MATCH(lookup_value, lookup_array, [match_type])

The first argument is the value you want to look up, second is the range of cells being searched and the last argument, which is optimal, tells the MATCH function what sort of lookup to do.

The three acceptable values for match type are 1, 0 and -1. The default value for this argument is 1.

• If the input is 1. MATCH finds the largest value that is less than or equal to the lookup_value. The values in the lookup_array argument must be placed in ascending order.
• If the input is 0. MATCH finds the first value that is exactly equal to the lookup_value. The values in the lookup_array argument can be in any order.
• If the input is -1. MATCH finds the smallest value that is greater than or equal to the lookup_value. The values in the lookup_array argument must be placed in descending order.

For example, if the range A1:A5 contains the values Evelyn Greer, Randy Mueller, Maverick Cooper, Eesha Bevan and Nancie Velez, then the formula =MATCH(“Maverick Cooper”,A1:A5,0) returns the number 3, because Maverick Cooper is the third item in the range.

INDEX

function is used to return the value in the cell based on the row number and column number provided. It can do two-way lookup: where we are retrieving an item from a table at the intersection of a row header and column header.

Syntax: =INDEX (array, row_num, [col_num])

The first argument is the range/array containing the values you want to look up, second is the row number; the row number from which the value is to be fetched (if omitted, Column_num is required) and third is the column number from which the value is to be fetched.

For Example: =INDEX(A1:B6,3,2)

This function will look in the range A1 to B6, and It will return whatever value is housed in Row 3 and Column 2. The answer here will be “India” in cell B3.

As you have seen, Index and Match on their own are effective and powerful formulas but together they are absolutely incredible. Let’s look at it.

Remember that you must tell INDEX Function which row and column number to go to. In the examples above, we hard coded it to a specific number. But instead, we can drop this MATCH function into that space in our formula and make the formula dynamic.

Let’s dive into an example.

Here we have two dropdowns in cell H9 and H11 containing names and quarters. What we want is that, once we select a name in cell H9 and a quarter in cell H11, the corresponding sales for the specified person and quarter appears in cell H14. We will be using INDEX & MATCH to accomplish this.The formula will be: =INDEX($A$3:$F$23,MATCH(H9,$A$3:$A$23,0),MATCH(H11,$A$3:$F$3,0))

This function will take A3:F23 as the range and the first match will use the name mentioned in cell H9 (here, Eesha Bevan) and obtain the position of it in the Name column (A3:A23). This becomes the row number from which the data needs to be taken. Similarly, the second match will use the quarter mentioned in cell H11 (here, Q2 Total Sales) and obtain the position of it in the Quarter’s row (A3:F3). This becomes the column number from which the data needs to be taken. Now, based on the row and column number provided by the Match functions, index function will now provide the required value, i.e. 18,250.

This formula is now dynamic, i.e. if you change the name or quarter in cells H9 or H11 the formula will still work and provide the correct value.

VLOOKUP Function –

This function is not as flexible or powerful as the combination of Index and Match that we talked about just now, however, the reason this is number 2 on the list is simply because it’s quick, flexible, easy to implement and doesn’t put a whole lot of strain on your CPU while calculating.

Vlookup is a vertical lookup function that tries to match a value in the first column of a lookup table and then return an item from a subsequent column.

Syntax: VLOOKUP ( lookup_value , table_array , col_index_num , [range_lookup] )

• Lookup_value:  Is the value to be found in the first column of the table, and can be a value, a reference, or a text string.
• Table_array: This is the lookup table and the first column in this range must contain the lookup_value.
• Col_index_num: This is the column number in table_array from which the matching value should be returned.
• Range_lookup: is a logical value that tells you the type of lookup you want to do. To find the closest match in the first column (sorted in ascending order) use TRUE; to find an exact match use FALSE (if omitted, TRUE is used as default).

In the example above, the first table contains name, country and quarterly sales and the second table contains the country name and nationality.

Now, we have an empty column (Column G) in the first table and we want to use Vlookup to extract the nationality of a person based on the country name mentioned in Column B.

The function will be: =VLOOKUP(B4,$K$3:$L$7,2,0). This function will lookup the value in cell B4 (i.e. UK) in the first column of the range K3:L7 and will return the corresponding value from the second column of the range i.e. British.

IF Function

So, why is this formula so important? Simply because this function gives you the flexibility to control your outcomes. When you can understand and model your outcomes, you can create logic and thus create a business model.

IF function is a logical test that evaluates a condition and returns a value if the condition is met, and another value if it is not met.

Syntax: =IF(logical_test,[value_if_true],[value_if_false])

• Logical test – It is condition that needs to be evaluated. The logical operators that can be used are = (equal to), > (greater than), >= (greater than or equal to), < (less than), <= (less than or equal to) and <> (not equal to).
• Value_if_true – Is the value that is returned if Logical_test is TRUE. If omitted, TRUE is returned.
• Value_if_false – Is the value that is returned if Logical_test is FALSE. If omitted, FALSE is returned.

You can also use OR and AND functions along with IF to test multiple conditions. Example: =IF(AND(logical_test1, logical_test2),[value_if_true],[value_if_false]).

IF functions can also be nested, the FALSE value being replaced by another IF function to make a further test. Example:  =IF(logical_test,[value_if_true,IF(logical_test,[value_if_true],[value_if_false])).

Let’s go through the IF function with an example to discuss it in detail.

In the screenshot above, we have a table that contains the name, country and quarterly sales achieved by different persons. Now, we want to see which persons have been promoted based on the criteria that the total sales achieved by that person is greater than £250,000. In the column for Promotions (Column G), we want the formula to test whether the total sales are greater than £250,000, if it is true then we want the text “Promoted” to be displayed, else a blank.

The formula to be used will be: =IF(C4+D4+E4+F4>250000,”Promoted”,””)

So, this completes our Top 10 Excel formulas. As we have already mentioned there are 400+ Excel formulas available and these 10 best Excel formulas will cover about 70% to 75% of your needs, but if you want to go a little bit more we have a book about the 27 best Excel formulas that will cover pretty much all of your formula requirements. The best thing about this is – it contains info-graphics and is completely free!

Excel Formulas Not Working: Troubleshooting Formulas

Continuing our series on Excel Formulas, this part is all about troubleshooting Excel Formulas. Let’s look at the major issues.

How To Refresh Excel Formulas

If Your Excel Formulas are Not Calculating, then start off by refreshing them. Do either of the following methods to refresh formulas:

• Press F2 and then Enter to refresh the formula of a particular cell.
• Press Shift + F9 to recalculate all formulas in the active sheet or you can go to the Formula Tab > Under Calculation Group > Select “Calculate Sheet”.

• Press F9 to recalculate all formulas in the workbook or you can go to the Formula Tab > Under Calculation Group > Select “Calculate Now”.

• Press Ctrl + Alt + F9 to recalculate formulas in open worksheets of all open workbooks.
• Press Ctrl + Alt + Shift + F9 to recalculate formulas in all sheets in all open workbooks.

How To Show Formulas In Excel

Usually when you type a formula in Excel and press Enter, Excel displays a calculated value in the cell. If you wish to see the formula that you have typed in the cell, you can do either of the following methods:

• Go to Formula Tab > Under Formula Auditingsection > Click on “Show Formulas”.

• Press Ctrl + ` to show formulas in the cell.

How To Audit Your Formula

Formula Auditing is used in Excel to display the relationship between formulas and cells. There are different ways in which you can do that. Let’s cover each one in detail:

• Trace Precedents

Trace Precedents shows all the cells that affect the formula in the selected cell. When you click this button, Excel draws arrows to the cells that are referred to in the formula inside the selected cell.

In the example below, we have a cost table that contains totals and grand total. We will now use trace precedents to check how the cells are linked to each other.Click on the cell containing grand total (Cell C15) > Go to Formula Tab > Click on “Trace Precedents”.

To see the next level of precedents, click the Trace Precedents command again.

To remove arrows, simply go to Formula Tab > Click on “Remove Arrows”.

• Trace Dependents

Trace Dependents show all the cells that are affected by the formula in the selected cell. When you click this button, Excel draws arrows from the selected cell to the cells that use, or depend on, the results of the formula in the selected cell.

In the example below, we have a cost table that contains totals and grand total. We will now use trace dependents to check how the cells are linked to each other.Click on the cell containing Property Cost (Cell C3) > Go to Formula Tab > Click on “Trace Dependents”.

To see the next level of dependents, click the Trace Dependents command again

• Evaluate Formula

This function is used to evaluate each part of the formula in the current cell. The Evaluate Formula feature can be quite useful in formulas that nest many functions within them and helps in debugging an error.

To evaluate the calculation in cell C15 (Grand Total), Click on the cell > Go to Formula Tab > Click on “Evaluate Formula”.

A dialog box will appear that will enable you to evaluate parts of the formula.

This will help you to debug an error as it provides you with the value calculated at each step of evaluation done by Excel.

• Error Checking

This function is helpful as it is used to understand the nature of an error in a cell and to enable you to trace its precedents.

To check for the errors shown in the screenshot below, click on cell C18 > Click on Formula Tab > Under Formula Auditing group > Click on “Error Checking”.

Once you click on Error Checking button, a dialog box will appear. It will describe the reason for the error and will guide you on what to do next. You can either trace the error or ignore the error or go to the formula bar and edit it. You can choose either of these options by clicking on the button shown in the Error Checking Dialog box.

These top formulas and functions of Excel will surely help and guide you in every step of your Excel Journey.