Finance & Accounting Online Course by Udemy, On Sale Here
How I reduced the Data Entry Time from 2 hr to 2 min!
An excellent training about Financial Modeling & Analysis
Excel Model Makeover 2 – Reducing Data Entry Time
The course is presented in four parts. First, the course introduces a business case of an accounting model that unintentionally includes all the hurdles to prevent fast data entry. The model takes a staff 1+ hour to update 1 vessel file, and whats worse, it takes over 2 hours to generate up-to-date Status report for a fleet of 60 vessels! Next, the course will demonstrate how the author has overhauled the old model so that it:o Reduces the data entry and report time from 1 hour to 1 min, ando Reduces the integration time from 2 hours to 2 minutes! Third, we draw a line between when to data entry and when not to. Generally speaking, we need to avoid data entry as much as possible, thanks to the technologies. However, if you do need data entry, only enter data at a minimum with the remaining filled in from data extracts. Fourth, we demonstrate the 7 Dos and Donts in data entry, reporting, and validations. Some of the best practices are:o Do NOT enter data in a summary table, making it hard to updateo Do NOT enter invoice details in a cell note, resulting in double entryo Do NOT apply accounting debits or credits in entry form, which may confuse data entry clerkso Do NOT summarize on moving targetsLast, the course illustrates some advanced modeling skills on:o How to build validation and auditing checks?o How to quickly set up links to 60 vessel files?
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