How to Use formulas in excel to create a Project?

by Ali June 5, 2017 at 8:31 am

How to use formulas in Excel to create a Project? In this article, I will show you all some simple formulas in Excel that you can create a project by that. In Microsoft Excel, one formula can be used in many situations and places. For example, some will use subtract in the school students list and other will use for the supermarket. Today I will create a shop of the electronics. Some customers will buy something then how much they paid and didn’t pay we will make a list of that. Before starting the project, I would recommend you to get some extra information about the formulas and Excel itself. Today I will provide some basic information about the Microsoft Excel and the formula in excel.

What is Microsoft Excel?

Excel is consisting of the rows and columns which are more like a table. You can use it like the table. In here we can use the formulas and more formattings rather than a table. Excel is made of the cells and each cell has the specific name or address. For example, A1 is equal to the first cell of the A column. Whenever we connect two cell with the formula we use the address of the cell. Click here for more information about the Microsoft Excel 2016.

What is the formula?

Formulas calculate and do other action on the data on your worksheet. A formula is started by the equal = sign. Formulas are consisting of marks, words, equations and signs that create the formulas. Every sign performs a specific action in the formula. For example, (IF) formulas are very useful in many conditions. Click here and learn more about the formulas usage.

Creating the shop table (using simple formulas in Excel)

In this project, I will show the shop profit.

From here I start the shop project works. First of all, you need to make a shop table. In the table, you need to fill at least six cells in a row for the shop. For example, in the first cell type Product name, 2nd cell product quantity and other needed things. You can type the columns as mine. Look at the following picture and fill the columns.

Microsoft Excel formulas
Filling the columns

Once you have filled the heading cells, fill the first columns. You can type the name of everything. I have an electronics shop so I will type the product that comes in the electronic group. fill the second columns with the number or the quantity of the product. Look at the following picture.

simple formulas in excel
Product and Quantity

Step by step fill all the columns except the benefit and total benefit columns. the third and fourth columns may confuse you a little. The third columns show how much you bought it and the second columns shows, how much you sell it.  You can see instruction in the following picture.

Microsoft excel 2016 tutorials
Purchase rate and Sale rate

Once you filled all the columns then it is time to add some formulas to the project. Click on the first row of the benefits column then add the following formula. =sale rate- purchase rate. The formula means that the money from the sale rate should be subtracted from the purchased rate.

Formulas in Excel 2016
Benefit Formula

We will go through the total benefit formula. Type at the first row of the total benefit column this formula. =benefit*quantity. The formulas mean that the benefit is multiplied by the quantity. Now your table is ready you can add many other records to the table.

How to use formulas in Excel
Total Benefit

Conclusion (How to use formulas in Excel)

I thought this article will help those who are new with the spreadsheet of the excel and the formula. The formulas are very simple and easy to be remembered but are much useful for a shop. I wish you got something from this article. You can ask me any question regarding the article. (How to use simple formulas in Excel to create a Project?)

Provide us a feedback in the comment I will be happy hearing from you all. you can find more Microsoft Office tutorials by clicking on the following link. Click here.
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