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Excel for Credit Controllers

5 COMMONLY USED EXCEL FUNCTIONS BY CREDIT CONTROLLERS

We think that Excel is an essential tool for credit controllers.

With it you can do complex calculations, graphical presentation of your data and advance features such as pivot tables make consolidation of data in a spreadsheet quick and simple.

At Veritas, we have a continuous Excel training programme for our credit controllers and we looked at those functions we most commonly use to assist any credit controller thinking of embarking on some training.

These are:

  1. TEXT TO COLUMNS

Not all finance systems present the data in the same format. For example, you may receive a ledger report from your customer that pre fixes the invoice number with zeros. Text to columns is a great way to “split” the data in a column so that the information matches that which you are comparing.

  1. VLOOKUP

The VLOOKUP formula enables one set of data to be compared to another set of data by use of the formula. This is particularly useful when reconciling an account between the customers ledger and your own.

  1. CONCATENATE

Concatenate allows you to join information that sits within a number of cells into one cell. It’s a great way to present information that was previously spread over a number of columns into the one collective column.

  1. SUBTOTALS

Using subtotals enables a report to be collapsed to show the subtotal lines only or to be expanded to see the data which sits behind those totals.

  1. VISIBLE CELLS ONLY

Applying filters to a spreadsheet enables you to view only the data that you want to see. By using visible cells only, the data can be copied or totalled based only on the information shown when the filter is applied.

If you are interested in learning more about Excel in credit control, book into our Virtual Credit Control Clinic at https://www.veritascs.co.uk/contact/ and we will be happy to assist you.

 

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