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With this tool, analysing your accounting data won't ever give you a headache

by , 24 July 2014
Doing your company's accounting isn't just about writing down all your expenses and profits and hoping it all balances at the end. It's also about understanding your financial position.

Analysing your accounting data is an important part of this. But it can be very complicated when there are figures everywhere and you can't see the data you need.

What you need is a tool that simplifies everything down to just the data you need to analyse. Well, we're here to tell you that this tool does exist...

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Don't let an Excel problem interrupt your workflow
 
Over 5 920 Excel questions are searched on Google in South Africa every month...
If you're adding to that statistic, you'll know how hard it is to find a solution that specifically relates to your Excel problem.
 
But not anymore!
 
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Easily analyse just the accounting data you need with this simple tool

 
The problem with traditional Excel accounting records is it's sometimes difficult to narrow down the data to just the fields you need.
 
This leaves you searching through countless entries in your profit and loss statement with no hope in site.
 
But did you know, there's a way you can narrow down that search so you can easily find what you need. 
 

Here's the tool that'll help you narrow down your accounting data for analysis

 
You can use a Microsoft Excel Pivot Table to narrow down your data. To use this tool to help you analyse your company's accounting records, simply select the raw data you want to use in your analysis.
 
For example, you may always want to use your sales figures in your analysis. To do this, press Control and F3 and select your sales figure data. Give it a name, for example 'Sales2014'. Now you'll always find this data no matter what workbook you're in.
 
Then create your Excel Pivot Table and when it asks for the raw data, hit F3 again and click on the name of your sales raw data.
 
Now you can create a Pivot Table with just that data in it and you can even create a Pivot Chart to help with your analysis.
 
There you have it, turn analysing your accounting data into a breeze with Excel Pivot Tables.
 
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Are you protected from personal liability in the new Companies Act?

If you're a director - you could be held personally liable for fraud in the company. This means that you need to know exactly what your financial status is.

Relying on your auditor for feedback is not good enough anymore. 
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