How PowerPivot can help financial reporting

Business intelligence expert Philip Taylor (aka ExcelCrafter) puts the case for using the PowerPivot add-in for management and  financial reporting.

Unlike earlier versions, Excel 2010 offers two approaches to building a PivotTable from a worksheet range:

  • The first is the usual method of clicking in the range and then, on the Insert tab, clicking PivotTable - AccountingWEB’s Excel Zone provides a wealth of resources and tutorials on this technique.
  • The second approach uses the PowerPivot add-in, a free download for Excel 2010 users available from Microsoft: Microsoft SQL Server 2012 PowerPivot for Microsoft Excel 2010.

Early adopters of Excel 2013 will require the Office Professional Plus version to take advantage of the functionality described in this article. Enable the add-in which is automatically installed as part of the Office 2013 installation (named Microsoft Office PowerPivot Add-in for Excel 2013).

Creating a PivotTable with PowerPivot

The steps required for creating a PivotTable using PowerPivot are easier than you might think. Register with AccountingWEB.co.uk to see the full article which takes you step-by-step through the process. For further information on PowerPivot, visit the Microsoft PowerPivot page and ExcelZone’s previous tutorials about the add-in.

Philip Taylor is a business intelligence architect/developer who operates an Excel/BI information-and-products web site, www.excelcraft.com

 

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Comments

"So why are so many accountants still fiddling around in Excel?"

Excelcrafter | | Permalink

That is indeed an excellent question and one frequently discussed both on this site and elsewhere.

George, thank you for your excellent recount of the value of the relational databases as a platform for accounting and financial reporting systems. There are more facts and Dates (pun intended) than I care to admit remembering.

Without getting embroiled in the "fiddling around in Excel question" I would just put forward this view. If you are going to use Excel as an analysis and presentation medium then PowerPivot offers a repository and environment where tables can be related and where "calculated columns", using DAX formulae, are more robust than regular worksheet formulae. Of course errors can still be introduced and this is no single version of the truth. So, as always testing by you and by someone else is essential.

I think that the fiddling around in Excel has a lot to do with the desire to be independent of or less reliant on IT support and not doubt at times has shown itself to be a double-edged sword.

 

zarathustra's picture

Why not change your username to...    1 thanks

zarathustra | | Permalink

Phil "the power" Taylor.

Sorry. I'll get me coat.