Build Excel Models using Advanced Formulas, VBA, Power Query
- 6 hours on-demand video
- 6 articles
- 13 downloadable resources
- Full lifetime access
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- Certificate of Completion
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Try Udemy for Business- Advanced Formulas and Functions to prepare Accounting Schedules (such as prepaid expenditure) and many other amorisation models
- How to leverage awesome data transformation tool called Power Query (Get & Transform)
- How to Manage Prepaid Expenses accounting professional way (or any other amortisation schedule)
- How to Forecast and Budget Prepaid Expenses and its impact on three Financial Statements
- Maintaining the utmost accuracy while closing month end books (Accountants) for Prepaid Expenditures
- Dynamic Data Visualization and Dashboard Preparation using Formulas and Functions
- Dynamic Dashboards and Data Visualization with Power Query (Next level Data modeling tricks)
- Basics of Double Entry Accounting System
- Basics of Microsoft Excel (also basics of Pivot Tables)
- A Computer with Microsoft Excel Installed (preferably: 2007 or later versions)
If you’re an accountant, analyst or business professional looking to take your Excel skills to the next level, this is the course you’ve been looking for!
This Course will teach you how to prepare efficient Excel model with advanced (powerful) formulas and function, Power Query /Pivot Tables and Excel VBA (all templates are available for download).
In addition to that I’ll cover how to create fully dynamic Excel dashboards with just Excel Formulas or if you want to get more advanced, we’ll cover next level Dashboard with Power Query and Pivot tables (no formulas used, refresh the dashboard with new data with just two clicks)
Here’s a sneak peek into some of the things we’ll cover:
I’ll teach you advanced formulas and functions, and how to work with mega formulas
Using Power Query (Get and Transform) to automate multiple sheets into an insightful summary report (Pivot Tables Report) using Excel VBA to control input and reduce errors, automate entire workflow saving precious time.
In the course, I go through specific examples of Prepaid Expenditures like this one below:
Mobile Phone prepaid vouchers/data plans and Insurances.
While this course will be utmost helpful to Accounting professionals, FP&A Professionals, Auditors, business professionals, anyone can enroll in the course
Accounting for prepaid expenses is easier than you think if you have the right tools at your disposal. But to do it… you need to accurately maintain the record of all prepaid expenses on your computer for an accurate profit or loss each period end (monthly/quarterly and yearly)
And Therefore it is quite crucial to have a Robust Prepaid Expenses Schedule (for an Accountant/Analyst/Auditor) and Microsoft Excel is a great tool for this task
As we go through the example, I’ll teach you hands-on techniques to maintain a robust prepaid expenses schedule that will help you accurately determine:
The portion of prepaid expenses to be charged to the income statement/profit and loss statement each month
Prepaid expenditure balances for monthly balance sheet reviews
Forecast or budget prepaid expenses for future periods
Impact on cashflow of business due to prepaid expenses spending (high or low)
How to allocate prepaid expenditures each month to various divisions or cost centers accurately (using Power Query and Pivot tables) with just few clicks (fully automated approach)
How to make sure that prepaid expenditure GL (balance sheet) is accurately maintained (cross checking integrity of GL entries to detect and prevent errors and frauds)
And I teach you all of this using Microsoft Excel!
Not only will I give you the models I’ve built, but also help you improve your ability to use the various functions of Excel:
IF Function (nested IF)
Date Functions
Lookup and Match Function
Named Ranges
Data validation
Array Formulas
And much more
Once you have a solid grasp of those, I’ll show you how to combine the above functions to create powerful formulas!
It doesn’t stop there…
We’ll use Power Query (Get and Transform) and Pivot Tables as well!
And we’ll even cover some Excel VBA.
At end of the course, you will have a clear and practical understanding of how prepaid expenses accounting works and how you can use Microsoft Excel efficiently to calculate accurate prepaid expenses charge, prepaid expenses balance and forecast prepaid expenses for future periods.
Your co-workers and your boss will be very impressed when you show up with these new skills! For the price I have it at… it’s worth every penny!
Don’t wait to improve your understanding of prepaid expenses and become an Excel guru! Enroll today to get started!
- Any one who wants to learn Advanced modeling techniques and Tricks in Microsoft Excel
- Accountants who wants to efficiently manage their Prepaid Expenses and Balance Sheet Reconciliations
- Non-Accounting professional/Entrepreneurs who wants to estimate impact of Prepaid Expenses on their investment and Profit and Loss over fixed term
- Analysts /Auditors who want to audit effectively for Prepaid Expenses
- Business Budgets and Forecast Activities where prepaid expenses are crucial part of Balance Sheet and Income Statements
Technical definition of Prepayments and Prepaid Expenses
What are the three types of Excel Models? What are the Functions will be used in preparing these PRO Excel Models?
VLOOKUP is a Function to lookup and retrieve data from a specific column in table. VLOOKUP supports approximate and exact matching, and wildcards (* ?) for partial matches. The "V" stands for "vertical". Lookup values must appear in the first column of the table, with lookup columns to the right.
The MATCH function searches for a specified item in a range of cells, and then returns the relative position of that item in the range. For example, if the range A1:A3 contains the values 5, 25, and 38, then the formula =MATCH(25,A1:A3,0) returns the number 2, because 25 is the second item in the range.
We will use this function to have dynamic column_index in VLOOKUP Function
Returns the reference specified by a text string. References are immediately evaluated to display their contents. Use INDIRECT when you want to change the reference to a cell within a formula without changing the formula itself. We will be using this function to create dynamic table_array in VLOOKUP Function
By using names, you can make your formulas much easier to understand and maintain. You can define a name for a cell range, function, constant, or table. Once you adopt the practice of using names in your workbook, you can easily update, audit, and manage these names.
We will be using Named Ranges with Indirect function to make Vlookup Function dynamic
In this lecture we will go through step by step exercise of preparing dynamic Prepaid Expense closing balances summary sheet. This is important to analyse data and summaries all prepaid expenses each month. We will use DYNAMIC VLOOKUP Function in combination with MATCH, INDIRECT and NAMED RANGES.
This Dynamic VLOOKUP Function is quite powerful formula which you can also use in all kinds of Summary Reports and Dashboards
We will be using Excel's building Sheet Protection tool to protect all formula fields/cells in entire model (sheet). This will ensure that user can not accidentally delete any of our core formulas and break the model. We have to keep data inputs field/cells unlocked for key data inputs for the prepaid amortisation calculation.
Brief Introduction about Exact date prepaid exps amortisation calculation.
I will show you how to use data validations to make sure your key inputs cells are not filed up with accidental text or other kind of inputs (basically anything other than Date format) also we have to ensure that date input in Column C should be as per month end in Column
I have created new version of all Prepayment Models (Formula, Power query/PT and Excel VBA) with opening balances calculation. This two part of these videos, I will explain how exactly opening balance column formula works and how two write (nested IF Function). I also explain how you can use this version of model to review, analyse or Audit prepayment balances existing in business/Balance Sheet.
I have attached all versions of the models here in zipped file, Please download them all and let me know if you face any issues in using them! Cheers!
Brief Introduction to Power Query and Pivot Table Prepaid Summary Model
Power Query does not work with sheets with protection as the source file. So in this scenario, we will have to unprotect all individual prepaid expense sheets but in that case, there is change of accidental data errors due to inputs and formula corruption especially our main amortisation IF formula
We can use Array formulas instead, in this lecture I will show you how to write the (update existing) formula. Array formulas will provide some form of protection if not complete protection.
In this lecture, we will prepare prepaid allocation table and integrate it with main data set summary of Prepaid Expenditures. The prepaid allocation table is simple excel table, which stores division wise ratio of allocations for each prepaid expenditures. If you want to change allocation to divisions or cost centers, just make the changes in allocation table, save the file and hit refresh....
I have updated this model with Opening balance column. Please refer lecture ____ for detailed formula explanation of the opening balance. Besides that I have updated Queries and Pivot tables to show more details in Summary Report.
I have come across some issues with Excel VBA Model so I have made new version of Excel VBA Exact Date Prepayment Model (see the resources in this video to download the model). This Bonus Lecture explains what was the problem and what changes are made in VBA codes to make the model more Robust!
This lectures shows you overview of the dynamic dashboard which we will be preparing in this section...
In this lecture, we will be importing source files/workbooks/worksheets: Divisional Profit and Loss statements for Division A,B and C into mail dashboard workbook, creating YTD versions of Divisional worksheets for three divisions....
This is a PRO TIP and I use it all the time in preparing various financial or data modeling reports. Specially useful in Financial reports like Profit and loss/Income statements. In kind of error checks reinforces the confidence in our data and overall reporting/Dashboard accuracy... MUST USE tip
Now lets prepare data for Area charts visualization, also we will preparing separate tables/sections for these charts. Most importantly we will be using nifty trick using NA() function to avoid chart drop to zero for non data section...... MUST WATCH lecture
Continuing with our Donut Charts preparation, in this lecture we will be adding dynamic chart labels to add professional look and easy readability for the audience
Introduction to formula less dashboard. Amazing dashboard techniques with the help of power query and Pivot tables.
Brief introduction to Power query and how to install it depending upon version of office and Excel you are using. We will consolidate reports for three division A, B, C
This trick is real life save while using power query, since power query always hard codes location of your data files/source files, it always pops up with error showing file path is missing or change, to get rid of this error we can use parameters query which will make file path and source folder path completely dynamic. Must know trick for Power query users.
Yes I did say it is formula less dashboard then why I am using an Excel Function, because Power query does not have ability to perform running totals on data columns especially complex conditional based running total. So we will be using only this formula (SUMIFS) to add a column which will also be a dynamic one.
In this lecture, We will go through exercise where we will create conditional cumulative totals inside Power Query using custom M code/Power Query formula. This is bit advance but I have tried to explain you in easiest manner. This kind of calculation takes too much time to produce results so if you have large dataset, this trick is not advisable.
Lets start creating dashboard since our data set is ready. We will be creating a Pivot Table showing Month and YTD figures for divisions and with the help of month end slicer, you can view and display futures for each division month wise (based on your selection)
We will now create Pivot Donut charts and link them with the slicer of Pivot table we have created in previous lecture. I will show you quickest way to create and replicate same themed donut charts in this lecture (amazing time saving tip)
Is this a magic? how is it even possible? Refresh your dashboard with traditional reports and source data with two clicks only. Yes this is possible with magic of power query and pivot tables. Awesomeness, loving it!