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Bar Startup Costs Spreadsheet

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Liliane Isaure June 7, 2021 Spreadsheet

Whilst Excel cannot clean or structure all of your data for you it does come with some useful functionality for manipulating and analysing clean and structured data sets. This in-built functionality includes pivot tables, sorting and filtering. Filtering alone is a powerful tool and can help to quickly isolate data based on specified criteria. But what happens if your data is clean but not very structured (a common problem). For instance what if you, a client or your team is using colours, fonts or some kind of formatting to classify data in an Excel spreadsheet. In short, you wont be able to filter the data, because Excel‘s in-built filtering logic requires rules based on numbers, dates and text only. It will not perform filtering based on formats. In addition Excel filtering only applies down rows. It will not perform filtering across columns.

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You have now created a dynamic link between your Excel spreadsheet and the Word document. That is to say, any changes which you make to the spreadsheet will be reflected within your Word document. Simply right-click the embedded object in Word after editing the spreadsheet and choose ‘update link‘ to see the changes. You will also be given the option to update each time you open the Word invoice.

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Here‘s where the expense sheet gets complex. All of your categories of spending go in column A. Get as detailed as you like, or keep it really simple and just put the basic categories. Generally, the more detail the better. it‘s also helpful to have categories for your categories. A Utilities category for your power, gas, water, etc, categories. Again, detail is good, but be wary of going into too much detail. Column B is where you‘ll put the amount that you‘re budgeting for that category. Column C, how much you‘ve spent on that category to date. If you like (or are a statistics junkie) you can add columns for % of budgeted amount, and % of total budget as well. For our simple budget, we‘ll just leave that out for now.

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Given this data set imagine trying to find out which Fridays you were busy at an appointment at noon while your partner was also busy at an appointment at noon and the descriptions of both of your appointments contained the phrase down town. If you are not familiar with relational databases and SQL it might surprise you to know that the question can be answered by a single simple SQL query. The database and SQL don‘t have it all their own way however. Spreadsheets come in to their own for tasks that benefit from a visual representation. Traditionally databases do not provide a visual way to browse the data in tables without explicitly requesting data.

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These common complaints with Microsoft Excel filtering are heard time and time again by engineers, accountants, management consultants, bankers and finance professionals who work with data in Excel spreadsheets on a daily basis. Many spreadsheet users including financial modellers (who seem to be leading the charge) are turning towards Excel Add-ins and software tools that plug into Microsoft Excel to help them improve the in-built filtering logic of Microsoft Excel and thus analyse certain data sets quickly and easily.

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In a well-designed spreadsheet, any output can be calculated from the raw data. However, that‘s not always enough. Sometimes the output is fixed and the raw data is variable. Let‘s say you run an investment company and want to offer your clients a fixed return. An Excel expert could create a very complex model to calculate the likely return on investments over a fixed period. You could then calculate the internal rate of return being offered to clients. The problem is that you‘re not interested in the return offered to clients; that is, after all, fixed. Instead you‘re concerned with how much money you expect to draw from the investment fund, whilst still offering your investors a satisfactory return. If you have $1 and owe investors a quarter, you can calculate your profits using a simple formula.

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