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December 30, 2008 3 Comments

Use =INDIRECT() Function to Connect 2 Pick-From Lists in Excel

This video is in response to a viewer who wants to join two columns containing Data Validation “Pick-from” lists. She knew that there was a Formula that could perform this, but she didn’t know how to accomplish this.

I promised to create this Excel video lesson to show her how – using the =INDIRECT() Function.

Here are the steps to follow in this lesson:

  1. Create lists for each group you want to be able to select from. Division and then in Departments (Sales, Marketing, etc.)
  2. Name each of these lists. Use either the NAME BOX or “Insert – Name – Create” (Select the Label and the Values).
  3. For the 1st Column – Division – use “Data – Validation” and in the “Allow” drop-down, choose “List.”
  4. Use the F3 shortcut to bring up the Named Range Dialog Box. Select “Division.” Type in a message for the Screen Tip and click OK.
  5. For the 2nd Column – the one whose “Pick-from” list will be based on the Values from the 1st Column (Division), we start with “Data – Validation” and in “Allow” choose “List.”
  6. Here is where we use the =INDIRECT() Function in the “Refers To” box. Click to select the cell in the Same Row in the 1st Column. Note: Be sure to make the Cell Reference Relative so that the formula can be copied down the column.
  7. I created the Validations in the Top Cell in each Column. Use Copy, Paste Special, Validation to apply the “Pick-from” validation to the remaining cells.

This is not a “Perfect” solution. As you can see, when you change the value in the first drop-down list, the value in the second list remains in place. What does change, however, is the list of values now available in the second drop-down list – waiting for you to make your selection!

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News! My DVD, “The 50 Best Tips for Excel 2007” is now available to purchase. I invite you to visit my online bookstore for more details.

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Filed Under: Excel Data Tables and Lists, Excel Training, Lookup Functions in Excel, Video Response to Viewers Tagged: , , , , ,
December 20, 2008

I Have 21 Excel Videos Rated 5-Stars on YouTube

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Here is a listing of my 21 Excel Video Lessons that are rated “5-Stars” on YouTube.

I hvae organized the videos by category. The First Hyperlink will take you to to the videos on this site. The “indented” Hyperlink will take you to the videos on my YouTube site –  DannyRocksExcels.

I hope that you find a few tips to save you time or answer a question. I welcome your feedback. Enjoy!

Pivot Tables

“What-if” Analysis

Consolidation and SubTotals

Filter & Sort Lists in Excel

Financial Functions in Excel

Logical & Lookup Functions in Excel

Text Functions

Formula Auditing

Formatting and Conditional Formatting

Paste Special Options

Excel Charts

News! My DVD, “The 50 Best Tips for Excel 2007” is now available to purchase. I invite you to visit my online bookstore for more details.

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Filed Under: Excel Training, Most popular articles, Most Viewed Excel Videos, YouTube Videos by Danny Rocks Tagged: , , , , , , , , ,
December 19, 2008 Leave a Comment

Navigate to Excel Worksheets with Hyperlinks

I encourage my clients to organize their work in Excel workbooks by creating additional worksheets. Each worksheet should contain discrete information relating to your Excel project – e.g. Monthly or Quarterly budgets; Regional sales, or information about specific product lines.

A best practice is to rename each worksheet to reflect the information it contains. I also encourage clients to add a “Tab Color” to each worksheet. This makes it easy to identify the “Active” worksheet.

Many of my clients use 20 or more worksheets in their workbooks and they ask my help in navigating to a specific worksheet or cell range.

One strategy that I share with them is to create Hyperlinks to go to a specific worksheet. Another strategy involves naming specific cells or ranges. Once you have “named” a cell or a range, simply click the drop down arrow next to the Name box; select the named range and Excel takes you directly to that “Name.”

These are great time-savers and they boost productivity. Watch this video to see these techniques in action:

Here are the steps to follow in this Excel Video Lesson:

  1. Click a worksheet and then use Ctrl+Page Down to activate the next worksheet to the Right. Ctrl+Page Up activates the next worksheet to the Left.
  2. Create a new worksheet and give it a name like “Dashboard.” Type in text like “Link to XYZ Worksheet.”
  3. Ctrl+K opens the Create Hyperlink Dialog Box. Fist choose “Place in this Document.” Then select the name of the worksheet and click OK.
  4. The easiest way to “Name” a cell or a region is to highlight it and then go to the “Name Box” to type in a name. Names must begin with a letter and not use spaces. Click ENTER to register the name.
  5. Use the drop=down arrow next to the Name Box to find and go to a named cell or range. You can also create a hyperlink to a named cell or range.

Looking for a specific Excel Video? Click here for the Index to all Excel Video Lessons

News! My DVD, “The 50 Best Tips for Excel 2007” is now available to purchase. I invite you to visit my online bookstore for more details.

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Filed Under: Excel Training, Tips and Time Savers Tagged: , , , , ,
December 19, 2008 Leave a Comment

Select Excel Data with Keyboard & Mouse-click Shortcuts

During a recent training class, I demonstrated several Keyboard and Mouse-click shortcuts for selecting and finding data. Several people in the class had “A-Ha” moments. So, I created this video lesson to share these shortcuts with you.

Here are the steps to follow in this Excel Video Lesson:

  1. To select all of the contiguous data cells, make one cell the “Active Cell”. Ctrl+A will then select all of the cells in that data block.
  2. If you then click Ctrl+A a second time, you will select every cell in the worksheet. This is handy when you need to “AutoFit the column width in the worksheet.
  3. Use Ctrl+End to go to the last cell in your data set. Ctrl+Home will return you to the Top cell in the data set.
  4. To find a blank cell in a column, position your mouse at the bottom of the “active cell” and double-click. This takes you to the last cell that contains data in that column.
  5. To select all of the cells w/ data in a column use the Ctrl+Shift+ Down Arrow. Use the appropriate Arrow Key to select cell containing data in a Row.
  6. Quickly copy a Formula to all of the cells in the column. Position the mouse in the lower right corner of the cell with the formula and double-click.

News! My DVD, “The 50 Best Tips for Excel 2007” is now available to purchase. I invite you to visit my online bookstore for more details.

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October 28, 2008 3 Comments

Viewer Request: How do I calculate dates in the future?

Today’s lesson is my answer to a viewer’s question: “How does Excel calculate a date in the future?”

The viewer wrote me because they were having trouble writing a formula that would return a date “N-Months” in the future. Or “3 years in the future” from a specific starting date.

I am asked this question frequently. In this short Excel video lesson I demonstrate how you write the formula.

Here are the steps to follow in this Excel Training Video:

  1. Use the AutoFill feature and Options to increment your “Starting Date.” I recommend using your “right-mouse button” to AutoFill because it automatically brings up a Menu of Options when you release the Right-Mouse Button.
  2. In response to the viewer’s question, we will choose “Fill Months.”
  3. Remember that we are using a “Hard-Coded” date as our “Starting Date,” so each value is really a “constant value.” This may not be the optimal result that we are seeking.
  4. In order to provide flexibility (with your starting date) you need to learn how to construct a formula that will increment (in this case the MONTH) our values.
  5. Use the “DATE() Function.
  6. For each of the “Arguments,” use the YEAR(), MONTH() and DAY() functions.
  7. To answer my viewer’s question we use MONTH(A2) +1 in the “Month Argument.”
  8. To “Increment the Year,” we use YEAR(A2) +1 in the “Year Argument.”
  9. Finally, write a “Formula” to verify that Excel is properly accounting for “Leap Years.”

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Filed Under: Excel Date and Time Functions, Excel Training Tagged: , , , , ,
October 24, 2008 1 Comment

Click & Drag a Data Series to Goal Seek in Excel

Did you know that you can click on a Data Series in an Excel Chart and “drag it to reach a new value?” You can!

Changing the data value in your chart brings up the Goal Seek Dialog Box. Now, it is a simple matter to confirm your new value and tell Excel which cell reference to change in your formula. Instantly, your chart redraws and your data and formula are updated with the substitute value – and your NEW GOAL!

Here are the steps to follow in this Excel Video Lesson:

  1. I use the =FV() Function to show the future value of my investment for each year that we invest. The =FV() Function requires a “fixed” interest rate and a constant investment value contributed each period.
  2. I inserted a “Line” type chart onto my worksheet – i.e. I “embedded” the chart on the sheet.
  3. I used a “Custom Format” on the Value Axis for our numbers (#,##0,K) to show the numbers as thousands ($80K)
  4. For this chart, I also changed the “Maximum Value” of the Value Series by typing in a new (higher) number.
  5. To reach a “new goal” on our chart, first click to select the data series. Then click again and drag the data line to a new point on the chart.
  6. This brings up the “Goal Seek” Dialog Box. Edit your new goal if necessary. Then click on the cell that you want to change in order reach your goal. That cell must be referenced in your formula. The chart redraws and your formula results are updated.

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News! My DVD, “The 50 Best Tips for Excel 2007” is now available to purchase. I invite you to visit my online bookstore for more details.

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Filed Under: Excel Charts, Excel Functions, Excel Training, What-if Analysis Tagged: , , , , ,
October 18, 2008 2 Comments

Excel Tells You the Future Value of Your Investment

Hey, want to know what your investment will be worth in 5 years? 10 years? Want a sure thing? Excel correctly calculates the future value of any investment! Provided …

  • You make a series of regular investments – even if it is just one “lump sum.”
  • The interest rate that you earn is “constant” – that is a “fixed annual interest rate.”

OK, so now you understand that neither I nor Excel are “touting sure thing” winners in the stock market. No one can do that. But, you can’t beat Excel when it comes to accurate – and easy to use – financial calculations.

In this video lesson, I demonstrate how to use both the =FV() and =PMT() Functions to calculate Future Values. I also show you how to perform “What-If” Analysis using a One-Input Data Table.

Here are the steps to follow in this Excel Video Lesson:

  1. Input values for Interest Rate (RATE), Number of Periods (NPER) and your Investment (PMT). These are the three required arguments for the =FV() Function. Use the Function Argument Dialog Box to ensure that you use the correct syntax for this function.
  2. One of the “optional” arguments is “Type.” If you omit this, Excel defaults to a “0” which means that you will make your investment contribution at the end of each period. A “1” means that the contribution is made at the beginning of each period. Over a number of years, this can make a significant difference in the “Future Value” of your investment.
  3. FV is also an “argument” in the =PMT() Function. If you want to calculate how much you need to contribute each month to reach a Savings Goal, use the =PMT() Function. However, in this case, the FV – while showing as an “Optional Argument” will refer to the cell containing your Savings Goal.
  4. Create a One-Input Data Table to perform “What-if” Analysis – e.g. to substitute a series of different interest rates in your =PMT() – or =FV() Function.

NEW! Download the Practice File for this Excel Video Lesson:

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News! My DVD, “The 50 Best Tips for Excel 2007” is now available to purchase. I invite you to visit my online bookstore for more details.

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Filed Under: Excel Formulas, Excel Functions, Excel Training, What-if Analysis Tagged: , , , , ,
October 16, 2008 3 Comments

How to Create a Combination Chart in Excel

What is a Combination Chart? When do I use one? Why do I use one?

  1. What: A combination chart uses two different chart types in the same graphic representation of your data.
  2. When: There is a large value gap between one data series and the other data series.
  3. Why: To reveal the relationships in your data that may not be apparent with a traditional chart or by merely examining the data.

In this short video lesson, I will demonstrate “How” to transform a traditional column chart into a Combination Chart that reveals an interesting data relationship.

Here are the steps to follow in this Excel Video Lesson:

  1. Start with a standard Excel Chart – Here we used the F11 Key to create a Column Chart in a separate worksheet.
  2. Notice the wide gap between the two data series. Click on one of the series columns (in this case “Dollars”) and on the Chart Toolbar select the “Line” chart type.
  3. A wide gap in values remains between the two series. With the “Dollars” series selected, choose Format Series on the Toolbar. Click the Axis Tab and select “Plot Series on Secondary Axis.”
  4. Format the chart to suit your needs. In this example, we change the color of the Plot Area and add Text to a “Call out” shape on the chart.

Find the Excel Video Lesson that you want. Index of all Excel Topics

News! My DVD, “The 50 Best Tips for Excel 2007” is now available to purchase. I invite you to visit my online bookstore for more details.

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Filed Under: Excel Charts, Excel Training Tagged: , , , ,
October 13, 2008 3 Comments

How to Explode a Pie Slice in Your Chart!

Pie Charts are the most popular charts – to create. Pie Charts are not always the best chart to use to tell your story. The people who create charts want to create Pie Charts and they want to “Explode” slices of the pie.

In this video I will demonstrate how to format your Pie Chart – and “explode” it!

Here are the steps to follow in this Excel Video Lesson:

  1. Select the chart first so that you can format it. (If your chart is on its own worksheet, select that worksheet tab.)
  2. Use the Drop-Down menu on the Chart Toolbar to become familiar with each Chart Element.
  3. Select the Chart Element and then click the Format Chart Element Icon on the toolbar.
  4. Format the “Plot Area.” Remove the Border and change the Background to White.
  5. Select the Chart Series “Total” – the Pie – and format it. On the Data Labels tab, select Percentage and Category Names.
  6. You no longer need the Legend. Select it and press Delete.
  7. Select the Plot Area and drag the sizing handles to enlarge it.
  8. To “explode” a pie slice, first select the Series “Total” – the Pie. After a short pause, select the slice that you want to “explode” to choose it. (You will see multiple “handles” around this slice.) Click on the border of the slice and drag it away from the Pie.
  9. To print only the chart: Select it and then make your changes in Print Preview – Page Setup.

Find the Excel Video Lesson that you want – Index to all Excel Topics

News! My DVD, “The 50 Best Tips for Excel 2007” is now available to purchase. I invite you to visit my online bookstore for more details.

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Filed Under: Excel Charts, Excel Training Tagged: , , , , , ,
October 9, 2008 4 Comments

Create an Excel Chart With One Keystroke!

It is easy to create a chart in MS Excel 2003. So easy, in fact, that you can create your chart with one keystroke.

In this video, I reveal that keystroke. I also demonstrate how easy it is to change the chart type and the location of your chart.

Here are the steps to follow in this Excel Video Lesson:

  1. Select one cell in your data set and press the F11 key.
  2. Excel, by default, creates a Column Chart in a new worksheet.
  3. Using the Chart tool bar, you can change the chart type.
  4. Select the data range(s) you want to chart  before you press the F11 key.
  5. Consider what “picture” you want to share before you create your chart.
  6. Use the Chart Wizard – Step 4 – to move the location of the cart (from its own worksheet to an embedded object in your worksheet – or vice versa.)

Find the Excel Video Lesson that you want – Index to all Excel Topics

News! My DVD, “The 50 Best Tips for Excel 2007” is now availabe to purchase. I invite you to visit my online bookstore for more details.

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Filed Under: Excel Charts, Excel Training Tagged: , , , ,
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