Excel Explained: Automating Financial Statements

In this insightful session, Excel expert David Ringstrom, CPA, shows you step-by-step how to create dynamic accounting reports for any month of the year on a single worksheet. As an alternative to building cumbersome worksheets for each month of the year, David explains how to use Excel functions, such as VLOOKUP, OFFSET, and SUM, to quickly create accounting reports that can be toggled to any reporting period with only two mouse clicks. In addition, he outlines how to export data from your accounting package, improve the integrity of your spreadsheets, and incorporate Check Figures and Alarms into you work.

David demonstrates every technique at least twice: first, on a PowerPoint slide with numbered steps, and second, in the subscription-based 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.

Office 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.

Covered Topics

  • Consolidating financial statement exports from two or more entities into a single list by way of a Union query within Microsoft Query.
  • Creating a 12 month P&L report from QuickBooks Desktop and then exporting to the comma-separated value (CSV) format to streamline analysis.
  • Consolidating financial statement exports from two or more entities into a single list by way of a Union query within Microsoft Query.
  • Updating the financial report to use data for a new calendar or fiscal year.
  • Using the Query Wizard within Microsoft Query to choose the relevant columns from your accounting report export.
  • Modifying queries that return data from other sources into an Excel worksheet.
  • Consolidating financial statement exports from two or more entities into a single list by way of a Union query within Microsoft Query.
  • Automating the extraction of data for a given month or year to date by way of the OFFSET function.
  • 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.
  • Using the Group command to interactively hide/unhide columns (and/or rows) within Excel worksheets.
  • Consolidating financial statement exports from two or more entities into a single list by way of a Union query within Microsoft Query.

Who Should Attend?

Practitioners who would benefit by creating and working with monthly financial statements in a more efficient and effective manner.