101 Best Microsoft Excel Tips & Tricks E-Book v1.3 - LM

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STEP 3: Type in the Replace and With fields the values that you
want AutoCorrect to change

Once done, click Add and OK twice

Let us test it out! Type in "JM"

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After you press Enter, AutoCorrect gets to work and changes it
to John Michaloudis!

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Use Goal Seek To Find Formula
Result

If you have a formula and want to show a specific result, but you do
not know what input values to change within the formula, then
Excel's Goal Seek feature is the one for you.

Imagine you are calculating the payment terms on a loan.

Your PMT formula gives you an amount of $1,450 but you can only
afford to repay $1,000. You can use Goal Seek to find out what
Principal you can borrow based on your $1,000 budget.

Exercise Workbook:
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STEP 1: Enter your 3 input variables that you will need to use for
your PMT formula - Interest Rate of 3.50%, Term of 240 months &
Principal of $250,000

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STEP 2: Enter the PMT function in cell C8 =PMT(Interest Rate/12,
Term, Principal) which will give you a monthly payment amount of -
$1,450

STEP 3: Select the cell C8 and go to Data > What If Analysis > Goal
Seek

STEP 4: SET CELL: Enter the reference for the cell that contains the
formula that you want to resolve. In our example, this reference is
cell C8

STEP 5: TO VALUE: Type the formula result that you want. In our
example, we want the payment to be -$1,000 (Note that this number
is negative because it represents a payment)

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STEP 6: BY CHANGING CELL: Enter the reference for the cell that
contains the input value that you want to adjust e.g. One of our 3
variables (Interest Rate, Principal & Term). In our example, this
reference is cell C7 for the Principal

STEP 7: Press OK and Goal Seek will run and produce a
result. Press OK to keep the results or Cancel to discard

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Use Goal Seek To Meet Your Profit
Goal

Say you have a quarterly Profit Statement and your Sales for Q1 and
Q2 have been reasonably well but in Q3 they dropped
dramatically. You are left with one quarter to meet your Net Profit
goal of $200,000.

You can use Excel’s Goal Seek feature (under What If Analysis) to
find out what Sales you need to achieve in Q4 in order to meet your
Net Profit goal of $200,000.

Exercise Workbook:
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STEP 1: Select the cell that you want to achieve your goal of
$200,000 which is the Total Net Profit in cell F7, which is a Sum
formula (Important: This cell must be a formula for the Goal Seek
to work)

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STEP 2: Go to Data > What If Analysis > Goal Seek

STEP 3: SET CELL: This is the cell that contains the goal we want to
achieve - F7

STEP 4: TO VALUE: Type the goal value that you want to achieve. In
our example, it will be 200,000

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STEP 5: BY CHANGING CELL: Enter the reference for the cell that
contains the input value that you want to adjust. In our example it
is the Q4 Sales forecast in cell E5

STEP 6: Press OK and Goal Seek will run and produce a
result. Press OK to keep the results or Cancel to discard

With Goal Seek we need to achieve Q4 Sales of $437,730 in order to
achieve our Net Profit goal of $200,000. Over to the Sales team
then to make it happen!

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Use Windings Symbols in Excel

Wingdings is a symbolic font that a lot of us use for fun. I do that a
lot too! But what if we wanted those cool symbols to be of good use
in Excel?

Whenever I tried typing using the Wingdings font, I was not sure
which symbol I would get!

I will show you how easy it is to pick a cool Wingdings Symbol and
use it in your Excel worksheet!

Here is a sample usage of a Wingdings symbol for stock prices:

Exercise Workbook:
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STEP 1: Select the cells that you want to place the symbols in:

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From the Font dropdown, select Wingdings:

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STEP 2: Now that our cells are able to accept Wingdings symbols, go
to Windows Start (Windows 10) > Search Bar > Character Map

If you have an older version of Windows, go to Start > All Programs
> Accessories > System Tools > Character Map

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STEP 3: You will now see all the characters! Ensure the
Font is Wingdings.

Double click on the symbol you want to use. Click Copy.

STEP 4: Go to your Excel Spreadsheet and click Paste.

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Do the rest for the other cells, and you have used Wingdings
Symbols!

NOTE: Another way is to click in a blank cell and go to Insert >
Symbol > Font: Windings > Insert > Close.

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View Multiple Worksheets in Excel

I usually have a workbook that has a lot of worksheets, and I have to
view multiple sheets at the same time. Switching tabs back and forth
just to compare the contents drives me nuts!

Did you know that you can view multiple worksheets in Excel? Let
me show you how!

Exercise Workbook:
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STEP 1: Go to View > Window > New Window

You will notice that there is a new window that is opened. You can
notice that there is a number at the end of the filename indicating
the window number - .xlss:2

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STEP 2: Now let's arrange the windows to view all of them side by
side!

Go to View > Window > Arrange All

Select Vertical and Click OK.

Now you can view multiple worksheets from the same Excel file!

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We would like to thank you again for taking the time to check out our Excel
Tips Book! We hope you’ve found value in it and can use it as a guide to
help you gain more Excel knowledge which will make you more productive,
give you more confidence and ultimately make you stand out from the
crowd!
You can also go directly to other Excel services & products here:
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Feel free to email us regarding anything Excel related, improvements and
additions to this book at [email protected]

To Your Success!

John Michaloudis & Bryan Hong

MyExcelOnline.com

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