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When it comes to financial analysis, this tool is your best friend

by , 20 August 2014
Does analysing your company's finances terrify you?

It does that to a lot of business owners because they're not sure what they're looking for and are worried their company could be falling apart financially and they missed the signs.

But you don't have to deal with this nightmare anymore.

The reason?

There's a tool you can use to ensure you don't miss anything when it comes to your company's financial analysis.

And it isn't an expensive tool either. In fact, it's probably on your computer already...


Use this one tool to ensure you don't miss anything while doing your financial analysis

So what is this magical tool that'll ensure you never miss anything during your financial analysis? It's Microsoft Excel of course. 
Excel gives you the ability to separate specific data and create tables and graphs with the data. The function that allows you to do this is a Pivot Table
These tables and graphs give you the ability to compare your data for each year. This way you can see if your company is growing in the right direction or heading for a downward crash.
Here's how to use and create these helpful little tools.
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Here's how to create and use Pivot Tables and graphs to help with your financial analysis

It's so easy to create Pivot Tables and Pivot Charts. You just need to follow these steps:
1. Choose the raw data;
2. Click anywhere on the raw data;
3. At the top of your screen, click on 'Insert menu';
4. Click 'Pivot Table' if you just want a normal table and 'Pivot Chart' if you want to create a graph;
5. In the dialog box enter where you want the Pivot Table;
6. Click 'OK'; and
7. Add the fields you want to your report in the 'Pivot Table Field List'.
 When you create the graph, remember to select the value types you want to act as your X and Y axis.
Using this handy tool you can easily see your company's financial position and compare it to previous years. 

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