Calculating Net Present Value (NPV) with Excel

Posted on November 22, 2017 by Angela Nino

  In the past, when I have taught the concept of NPV (Net Present Value), I often ask if everyone understands it. If not, then I go over it in basic terms. Some training modules can make it sound like a difficult concept. But it is actually much easier than it initially comes across. Net Present Value (NPV) NPV is a function in Excel that helps you to calculate the difference between money you receive (cash inflows) and money you pay (cash outflows) for a project or investment. A positive result from the function would mean a profitable project/investment. A negative result would indicate a net loss. NPV Function In Excel, the function syntax is NPV(rate,value1,[value2],…). The rate and value1…

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Preparing Payroll in Excel

Posted on October 12, 2017 by Angela Nino

Are you a small business or a sole proprietor who needs to prepare payroll? If you are like many smaller companies, it is hard to find a simple solution that doesn’t eat up your entire budget. The good news is that you can do much of the tasks in an Excel payroll calculator. Payroll Calculator One of the Excel payroll calculators can be found on the Microsoft Office site at: See Figure 1. Figure 1 Click the Download button and enable editing after it is saved to your computer. This workbook already has everything set up for many tasks. Enter employee information – includes hourly wage, tax percentages, insurance and other deductions Payroll information – includes hours worked, vacation/sick…

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Financial Calculators for Excel

Posted on August 22, 2017 by Angela Nino

Excel has so many amazing financial functions and formulas. But, do you really want to create a financial calculator, like a mortgage calculator from scratch? If not, you can find many online or within the Excel templates. Excel Financial Calculator Templates To see a huge number of templates, just launch Excel and enter Financial Calculators in the template search box. See Figure 1. Figure 1 Some of the available options include calculators for mortgage loans, balloon payments, simple amortization schedules, and even for bathroom remodel costs. If you want to narrow down your search, you can choose from a list of categories on the right side. See Figure 2. Figure 2 For this post, let’s look for a simple calculator…

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Why Microsoft Office Matters in the Workplace

Posted on August 1, 2017 by Angela Nino

In most office environments, you will find Microsoft Office products. They still comprise the highest market share for office suite applications. When you look for a benchmark for word processors and spreadsheets, Microsoft sets the bar. Even when looking at email/calendar software, Microsoft Outlook is at the top of the heap. Microsoft Office So, why use Microsoft Office? Why learn about Excel, Word, and other programs? The power of the software. The features and full effectiveness of the applications haven’t been duplicated. Especially when looking at spreadsheets, you won’t find one that out performs Excel. If you aren’t using the full scope of what is available in Word, Excel, Outlook, and PowerPoint, then you are missing out. For example, think…

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Create a Risk Register Using Excel

Posted on July 3, 2017 by Angela Nino

If you are involved in any level of project management, then you have most likely seen, used, or even developed a risk register. Being able to quantify the risk associated with each part of a project is important in planning, design, and implementation phases. Noting triggers and mitigating actions in the analysis is important, as well. Microsoft Excel can help you with your risk register. You don’t need to create one from scratch. There are several templates and resources to help you. Check out the following sites to find templates, definitions of terms, and even tutorial videos. Risk Register Tips, Terms and Templates Tips, Components, and a Template Template, Benefits of a Risk Analysis, and Explanation of the Risk Management…

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The Cost of Incomplete Training

Posted on May 25, 2017 by Angela Nino

I cannot tell you how many times I am asked, “Why is training so important?” I believe that I hear it so often because training does not always involve a tangible product created at the end. We cannot “see” what we are getting so we question the cost. We struggle with the same issue with any version of education, Kindergarten-12th grade and higher education, too. My answer is always another question, “What happens when you do not invest in training?” The cost of not training can be even more expensive than devoting funds to and preparing your employees. Training is critical for employees to learn necessary skills, especially as technology changes. If you only focus on the bottom line and…

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Top 5 Word Add-ins

Posted on May 10, 2017 by Angela Nino

The built-in features of Microsoft Word improve productivity and workflow. But, did you know that there are Word add-ins that you can download from the Microsoft Store that can help you even more? There are actually hundreds of add-ins for all of the Microsoft Office products. There are 5 Word add-ins that have allowed me to be more efficient and to do tasks within Word that I was having to do outside of Word previously. The 5 top add-ins for me include: Picket Free Images, DocuSign for Word, Symbol Search, Vertex42 Template Gallery, and Office QR. Search for and Install Add-ins You can find add-ins through the Microsoft Store. If you prefer, you can also download them by going to…

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Creating Income Statements with Excel

Posted on March 2, 2017 by Angela Nino

  Income statements track revenue and expenses for an organization or business. Creating one does not need to be done from scratch, unless you have specific design requirements. There are many templates available for easy download. When searching for templates, it is not necessary to find one for your specific version of Excel. For example, I found a good one in Excel 2007 version and it pulled in perfectly into my Excel 2016 software. So, if you find one from a prior version of Excel, it will most likely work just fine in your newer program. Below are some resources for templates and instructions for building or using an income statement. Using a Template has a good income statement…

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Profit Loss Statements with Excel

Posted on February 18, 2017 by Angela Nino

Are you struggling with tracking your income and expenses? I have encountered instances where someone needed to monitor a budget without the need of the full services of an accountant. You may be in charge of an organization or a group that doesn’t have a CPA on call, but could use a spreadsheet to display profit/loss information. There are useful templates that have built-in features and functions to allow you to watch your yearly income and expenses. Microsoft has a good Excel financial management template on their Office website. See Figure 1. Figure 1 Download Template The Profit and Loss template can be downloaded as an Excel file for you to open in your Excel desktop application. See Figure 2….

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The ROI of Investing in Your Employees

Posted on January 25, 2017 by Angela Nino

Yes, we all have the wonderful pipe dream of every day at work flowing smoothly with extra time left over for learning something new and keeping perfectly up-to-date with all the latest software. In reality, we have crazy busy days where we might manage to accomplish one or two small pieces of a large project. What we end up doing is running around putting out fires or dealing with urgent issues that popped up. Our best laid plans in our prioritized to-do list get blown to bits. We might have salvaged 10 minutes for lunch at our desk while typing a follow-up email to a client. So, why should we block out time that we don’t have for developing our…

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