Excel Model Makeover (Part 2): Reducing Entry Time from 2 hr to 2 min (Video) (Course Id 1782)

Computer Software & Applications - Computer Software & Applications for Course Id 1782

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 what’s 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:

• Reduces the data entry and report time from 1 hour to 1 min, and
• 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 Don’ts in data entry, reporting, and validations. Some of the best practices are:

• Do NOT enter data in a summary table, making it hard to update
• Do NOT enter invoice details in a cell note, resulting in double entry
• Do NOT apply accounting debits or credits in entry form, which may confuse data entry clerks
• Do NOT summarize on “moving targets”

Last, the course illustrates some advanced modeling skills on:

• How to build validation and auditing checks?
• How to “quickly” set up links to 60 vessel files?

Please Note: This course’s author is working on the providing transcripts, PDFs, and slides where applicable. Unfortunately until then we will not be able to offer them with the course but felt the course was valuable enough as it is so have chosen to include it on our site. Our sincere apologies for any inconvenience and please let us know any question using the support bubble on the bottom right of all pages on our site. 

Video - NASBA QAS - NASBA Registry - 1782

Course Learning Objectives

• Master the best practices of designing, modeling and validating an �accounting� model
• Recognize when to data entry and when not to
• Understand 4 best practices in building a data entry model
• Identify 2 best practices in building an accounting summary model
• Discover methods to build validation and auditing functionality into your models

Chapter 1 - Excel Model Makeover (Part 2): Reducing Entry Time from 2 hr to 2 min

Chapter 1 Review Questions

Glossary