When your transaction data comes out of the general ledger it may be in a pretty raw format. You might get something called a posting date (in a format like 06/30/2016). Let’s say you want to work with the data in a pivot table where you have a column for month.
The month can be easily pulled out this this formula.
06/30/2016 is in cell A1 for example. in A2 you put “=month(A1)”. The result returns 6. This can also be used with day and year too.
Let’s say you export out transaction detail from the general ledger. You may want to work with it in a pivot table. But the individual lines are missing the account numbers. They might be above or below the data. Here is a trick to populate the lines.
Here is a sample of our data. Highlighted in yellow is where we want our account numbers.
In cell A3 type “=A2”. Now we want to copy this formula but only in the yellow cells. Not on top of the remaining header account numbers.
- Copy cell A3.
- Select the range where you want to paste.
- Press F5 to launch the GoTo box.
- Click the “Special…”
- Click “Blanks”
- Now you selected just the blank cells.
- Ctrl V (or paste from the menu).
I’ve changed the area from yellow to blue to show how it should look with account numbers populated.
In our sample general ledger detail, we get the full string account number. But, we are wanting to work with the individual components of the string (fund, major, etc.). A useful tool for this is Text to Columns.
Our example shows the full string account number and the amount.
In Excel, go to “Data” tab. Highlight just the three cells containing the string. Then Text to Column button. Then choose radius button “Delimited” because we want to use the “-” character to break apart our string.
Put a “-” in the Other.
At this point, you are able to choose which new columns to keep. I have entered $D$3 for the new data. That way it places it to the side of my original list.
I have added the labels above our new columns.
Note- I could have chosen “Text”, instead of “General”. This would have kept the formatting of “001” vs 1.
In our first post, we looked at the power of SumIf’s. Here, we will look at another way to summarize the same data, but by location code.
We add our three location codes from the data above in Col. A. In Col. B the formula “=SUMIF($A$2:$A$37,A41,$B$2:$B$37)“. In this example, cell A41 has our location code “001”. Copy/paste the formula. We add a total to check against the sum of all data.
In Excel, there exists a powerful formula for summarizing data in your general ledger. It’s “sumif”. Here’s a few ways that I use it.
In our sample data, we have a three digit location code, an amount, and the month.
Let’s say we want to summarize the transactions by month. Below the data, I will put the months in column C.
In column B, beside the month. We add the formula “=SUMIF($C$2:$C$37,C41,$B$2:$B$37)” The $ are to lock in the columns and rows so that they stay fixed as we copy and paste. The formula is in three parts. The first is the data with the months, second is the month we want summarized,and the third has the amounts. Then copy and paste down to all 12 months.
Add a total formula to check that the totals match our total of all the data.