Using IF Statements in Excel

excel-if-statementThe IF statement is a useful function of Microsoft Excel that can save a great deal of time spent on analysing and annotating data manually.

It’s a versatile, advanced, formula that can be combined with other formulae where needed. This is exactly the sort of thing we’ll teach you in our Advanced Excel course.

If this is the kind of advanced Excel tip you find useful, you might also want to have a look at our tutorials on the VLOOKUP and HLOOKUP functions of Excel and Conditional Formatting in Excel.

How to Use the IF Formula in Excel

The IF formula is built on a premise of auto-populating a field with the result of a true/false test.

For example, an employer may have a bonus structure where employees get a staggered bonus payment based on how much they sell in a month. If they make more than 60 sales, they get 5 times their sales in pounds in their pay packet! If they make less than 60 sales, they get 2 times their sales.

The formula looks like this: IF (logical_test, [value_if_true], [value_if_false]).

So, using the example above, we’d say =IF(b3<60, 5, 2)

Excel-IF-Formula1

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Planning a New Years Spread(sheet)

With finances being tighter than normal through 2011, New Years parties could quite easily be the straw that broke the financial advisor’s back. Extra effort needs to be made to maximise the resources. You have to minimise costs, and what way would be better that using Excel as an all in one New Years Eve Party Planner.

With so many things to keep in mind over the festive period why not organise all of your guest list, budget and most impotently shopping lists into separate sheets within a workbook, topping it off with a fancy coversheet. Here are some tips for making your own:

What to Plan?

First off, you need to work out what you want to keep a record of. You may want to make a note of things such as:

  • Guest list
  • Decoration list
  • Entertainment
  • Alcohol / Food shopping list
  • Budget

Each of these will be recorded on their own sheet, so make sure you insert extra sheets (in Excel 2007 press Shift + F11) to account for each topic you want to make note of, as well as one extra sheet where you can make a fancy coversheet for easier navigation.

Do you need more formulae to really maximise your planning sheet? Then check this post out giving you our top 10 time saving excel formula.

Rename each of these sheets (labelled Sheet1, Sheet2 etc as default) to the relevant name of the topic you want to record in that sheet.

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