Platinum Accounting offers training and internships to people who would like to kickstart their accounting career.
Please visit Platinum Accounting or call on 02 9212 4703 for training and internships.
Thanks for your question Rajal.We have another question about Excel skills and when to use vlookup and pivot tables as well as what mistakes can occur when using them.Excel is very relevant in todays workplace. Everyone, especially accountants should know how to use this reasonably well. A basic function is vlookup. Here, you would use vlookup as a code matching exercise. If you want to fill in a column of data with some other data based on a set of common lookup values. This can be really useful and save a lot of time. So, use it when there is a lot of data you need to match going down the column. Its called “V” lookup because its vertical. There is also a “H” lookup which is horizontal.Pivot tables are useful as a summary tables. If you have a lot of data going down a page, you may be able to summarise it into a pivot table. Its basically a table with an automatic SUMIF and COUNTIF function. You can easily display lots of data into one small table. Furthermore, it lets you cut the data by any variable as you can select which data you want to analyse.Common problems with vlookup and pivot tables?Vlookup, some people dont lock the table array with $A$1 so the table array moves down the page. Better yet, select the column heading as the table array such as A:B.Pivot tables, sometimes pivots wont work when you headings are not givenfor a set of data. A pivot table needs a column heading to work.