What Version of Excel Is On Your Desktop?

By guest blogger, David Ringstrom . . .

As an instructor leading dozens of Excel classes for CPE Link each year, I find that the preponderance of attendees use Excel 2007. A surprising cadre is still holding on to older versions such as Excel 2003, or even Lotus 1-2-3. At some point I’ll need to add Office 365 to my presentations, but I’ll wait until I see folks using it. Microsoft just announced price cuts of up to 20% for the service, likely in hopes of sparking demand.

As daunting as it is to lead classes that cover three different desktop versions of Excel, soon I’ll be adding a fourth version. Excel 15, likely to be dubbed Excel 2012, is currently in a technical preview, or pre-beta, phase. This allows select customers to provide feedback to Microsoft prior to the next phase, which will be a public beta this summer. A final release of the next version of Office is expected by the end of this year.

Microsoft has been particularly tight-lipped about Excel 15 and its other Office suite companions, but information is starting to leak out. Windows 8, currently in beta testing, sports a new touch-optimized Metro look that replaces icons with onscreen tiles. My observation over the years is that Microsoft tends to make major changes every other Office version, so we could be in for changes that are as initially jarring as the Ribbon interface introduced in Office 2007.

Microsoft maintains three levels of support for their products: mainstream, extended, and online self-help. During the mainstream phase, Microsoft issues service packs and provides full levels of support. In the extended phase, primarily security patches are issued, but paid support is still available. The online self-help phase allows users to use the Microsoft Knowledgebase to try to fix problems on their own. Office 2007 enters a five-year extended support phase on October 9, 2012, while extended support for Office 2003 ends April 4, 2014.

Unless you’re chomping at the bit for yet another new Excel interface, my recommendation is upgrade to Office 2010 this year so that you can stay on a supported version and let the dust settle on Microsoft’s Metro and cloud computing changes.

 

5 Things CPAs Should Know about Excel Macros

This list comes courtesy of David Ringstrom, CPA, CPE Link instructor and Excel expert.

1. Macros are programming code that you can add to your Excel spreadsheets to automate repetitive tasks. Macros can be as simple as a single line of code to carry out a task, such as typing your company’s name. Other macros interact with accounting programs, download data from the Internet, or collect information from users via custom forms—you’re often limited only by your imagination.

2. You don’t need to know anything about programming. Excel’s Macro Recorder feature makes it easy to create your own macros. Think of it as Excel’s version of a camcorder, where you click Record and have the actions you carry out transformed into programming code that you can play back over and over. This allows you to automate simple tasks such as cleaning up a text file that you download from a web site.

3. Many of the tools that you use for macros in Excel 2007 and 2010 reside on a hidden Developer tab. In Excel 2007, click the Show the Developer tab checkbox on the first Excel Options window. In Excel 2010, right-click on the ribbon, choose Customize the Ribbon, and then click the checkbox for the Developer tab. You’ll find the Macro Recorder button on the Developer tab, as well as a Visual Basic button that enables you to get behind-the-scenes to your macros in the Visual Basic Editor.

4. You don’t have to create your own macros. Programming isn’t for everyone, but knowing that it’s possible to have a tool that carries out a repetitive task dozens, hundreds, or even thousands of times can be a huge time saver for your company. You can hire an expert to create a macro-enabled spreadsheet that allows you to accomplish your task with the click of a button.

5. The best way to learn about macros in Excel is to have a project in mind that you wish to automate. Many of Excel’s features seem to fall into the category of “why would I want to know how to do that”, but given the proper context you have that “Oh! I get it!” moment.

If you find yourself carrying out the same steps over and over again in Excel, try experimenting with the Macro Recorder, or do a Google search on automating your task. You’ll be surprised at the wealth of information that’s just a click away!

 

Take a Day to Pump Up your Excel Skills

Imagine this situation. Building contractor Jones has asked CPA Smith to review payables and receivables. “I want to be sure that our vendors have billed us as agreed,” says Jones. Smith wants to send a staff person to Jones office to compile the information into an Excel worksheet for further analysis and reporting.

How can Smith design a spreadsheet for data entry and analysis that
• helps speed data entry, is easily modified, and is responsive to changing assumptions?
• provides instructions to guide the data entry process?
• is also suitable for presentation to the client?

What’s more, since Smith won’t be doing the data entry himself, how can he include automation to give feedback during the data entry process and provide validity checks to prevent “garbage-in garbage out” problems?

If you don’t know the answers these questions and would like to, you may want to participate in the May 12 webcast Building Interactive Excel Spreadsheets for Data Capture.

Or consider this problem. A frantic client calls Ray Knight, CPA and owner of Knight Consulting. “My accounting software won’t work, the software vendor is out of business, and the data isn’t compatible with any other available software. Help!”

Ray helps the client set up another accounting software package for current year operations, but the client still needs access to information from prior years. Ray received a data dump from a recovery specialist and is considering the next steps. What issues should Ray consider when integrating data for use in Excel? How can he modify the dataset? How can he design a spreadsheet that will provide interactivity with the client for ad hoc analysis and reporting? You can find out the answers to these and more questions in the May 12 webcast Using Excel with External Data.

Can’t make the May date? No worries. Both webcasts will be presented again in July by L. Keith Jordan, CPA. In addition to 30 years experience in accounting, supervision, and management, Jordan is an expert in IT and business applications.

Why not make a day of advancing your Excel skills?

 

Improve Your Excel Skills with this Free Excel Training

How are your Excel skills? Average? Enough to get by? Have you ever thought that with just a little training, you may be able to get your work done faster, and maybe reduce the errors that occasionally sneak in?

One of the best ways to learn more about Excel, discover shortcuts and time savers is through webcast training where the instructor demonstrates directly in Excel. You see the click-by-click steps needed to perform each function. You can follow along and ask questions. And, if you didn’t fully absorb the information, you can view the recording of the presentation again for additional review.

In response to the popularity of Excel training, CPE Link has built up its Excel curriculum to include over 20 specialized topics geared towards CPAs. Some of the more popular presentations are: Mastering Excel Pivot Tables, Tips and Tricks for Creating Charts, Mastering Advanced Excel Formulas, Automating Excel-Based Financial Statements, and Introduction to Macros. In these sessions, attendees learn practical solutions to everyday challenges.

If you haven’t experienced Excel training in the webcast format, I invite you to try before you buy! Take a peek at this FREE Excel Speed Tips on-demand webcast (a $49 value). In this 3 CPE credit self-study course Excel expert David Ringstrom, CPA shares the features and shortcuts that can make you an Excel power user. Offer expires May 31.

 

Time for Smaller Companies to Learn XBRL

You can run, but you can’t hide! The three-year phase-in period for the use of eXtensible Business Reporting Language (XBRL) is about to hit the last group in the cycle. Effective June 15, 2011 smaller reporting companies (and all other remaining filers using U.S. GAAP) must now attach an exhibit with all their periodic filings. The XBRL “tags” in the exhibit will allow users to easily search for and access specific financial information.

Yes, XBRL is becoming the de facto standard for electronic communication of business and financial data in accounting reports and business documents. So, you may want to learn a little more about how to read and write XML files.

Not excited about learning about XBRL? Here’s a suggestion: Combining something you’re not familiar with (XBRL) with something you use every day (Excel!) may make you more comfortable with the new technology.

CPE Link is offering a live webcast on January 26 on Introduction to XBRL. Instructor, David Ringstrom will demonstrate how to use XML and XBRL data in Excel. You’ll also learn which versions of Excel aren’t XML “aware.”

 

Excel Training is Hot for Accountants

Excel is the accountant’s tool of choice for creating financial statements, budgets, and other financial reports, yet many accountants have never received any formal Excel training. As a result, they are spending more time than necessary to get their work done and maybe even opening themselves up to potential errors.

Looking to right the wrongs of being self-taught, accountants are now seeking Excel training in droves. CPE Link has seen participation grow substantially in both its live webcasts and self-study programs covering Excel. Some popular topics include speed tips, pivot tables, macros, advanced formulas, and creating charts.

Taking Excel training in webcast format allows participants to see the instructor demonstrating directly in Excel. This allows the learner to see up close the click-by-click steps needed to perform each function. In addition, the webcast format has the added benefit of enabling attendees to review the material again after the live presentation as they have access to the recorded presentation.

CPAs are learning how to use some of the more powerful features in Excel and are on their way to becoming power users. They are excited to be discovering new shortcuts that will really save them time. Some CPE Link webcast attendees have commented about their Excel training:

“Probably the best class I’ve taken in Excel. Very practical tips…many I wish I’d known about years ago!”
“Some of the best Excel info I’ve ever gotten!”
“I was very pleased with the course. Excellent time-saving tips.”
“This was an excellent presentation. I learned a lot that can be applied immediately. Very worthwhile.”

Due to the popularity of its Excel programs, CPE Link is beefing up the Excel curriculum and now offers Excel training year round.

Isn’t it time you learned some tips and tricks that can help you work faster, with fewer errors and add real value to your practice?

 

Technology Training for Accountants

What happens when the leading provider of technology-focused CPE for accountants teams up with the industry’s specialist in web-based training? You get a fabulous technology curriculum from K2 Enterprises provided on the CPE Link platform!

CPE Link is very pleased to welcome the K2 Enterprises faculty to our platform. K2 is the preeminent provider of technology-focused continuing professional education to accountants in North America. Their highly-regarded team of instructors is the best in the business–frequently winning awards from various state CPA organizations and often recognized in national publications as being the leaders in their chosen field. Collectively, they have taught over 10,000 programs to more than 100,000 accountants.

K2′s initial live webcast offerings through CPE Link include 12 hot topics aimed at helping accountants be more productive. Check these out!

June 21: Tech Update (2 CPE hours) – Randolph Johnston

June 25: All Aboard for Windows 7 (2 CPE hours) – Val Steed

July 6: Technologies for the Tax Practice (2 CPE hours) – Val Steed

July 13: Analyzing Data with Excel Pivot Tables (2 CPE hours) – Thomas Stephens

July 22: Becoming More Productive with MS Office 2007/2010 (2 CPE hours) – Val Steed

Aug 9: Charting in MSOffice: What the User Manual Doesn’t Tell You (2 CPE hours) – Thomas Stephens

Aug 10: Security Tools for Accountants: Up Close and Personal (2 CPE hours) – Will Fleenor

Aug 23: Excel – Best Unknown Features for Accountants (2 CPE hours) – Will Fleenor

Aug 31: Solving the Top QuickBooks Issues (2 CPE hours) – Thomas Stephens

Sept 2: Better Options for Backup (2 CPE hours) – Randolph Johnston

Sept 28: Using Technology to Streamline Your Life (2 CPE hours) – Randolph Johnston

Sept 30: How to Create a Lean, Clean Computing Machine (2 CPE hours) – Will Fleenor