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Are you an accountant? Here's what you need to know about Excel templates

by , 26 February 2014
The great thing about technology is that it helps you perform your job easier. And if you're an accountant, you'll be glad to know that Excel templates can make your day to day functions really simple. Continue reading to find out more about this...

So what exactly is an Excel Template?

According to Office.com, a template is an Excel workbook with content and formatting that you use as a model to create other similar workbooks.

You set options and enter data in a template and then, when you base new workbooks on the template, the new workbooks receive the same settings and initially contain the same data.

What makes Excel templates ideal for an accountant is that they're a time saver

Excel templates save you time when you need to create several workbooks with similar features and can help you standardise the appearance and content of workbooks used in your company.

'Because a template provides only the information and settings you want to reuse, it's faster than copying an existing workbook and deleting old information from it.'

Sounds complicated?

It's not.

If, for example, you want your employees to give you info each month about their project schedules and how much of the budget they've spent. You combine this information in a report, so you want the same information in the same order from each employee.

To make this job easy, you can set up a worksheet with a row for each project and labels for the information you want in each column, even include the amount budgeted for each project, apply any other formats you want, then save the workbook as a template.

Every month, your employees can each create a new workbook from this template, fill in the information and send it to you. By using the template, everyone automatically gets the information in the right order and format, so it's easy for you to compile your monthly spending report.

Excel templates work as follows:

The site says templates are a separate Excel file type, with extension xlt, that you can specify for Excel to use when you create a new workbook.

Excel provides several options for making templates available. This means you can make a template available as the default, so it's used for every worksheet or workbook you create.

Once you make a template available, it becomes one of the choices in the New dialog box when you click New on the File menu. When you select a template in this dialog box, Excel then creates a new workbook that automatically duplicates the settings and other contents that you saved in the template, concludes Office.com.

Now that you know the basics about Excel templates, give them a try. You'll soon notice just how much easier your job becomes.

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