In this video, learn how to set up and apply data validation to control the inputs that a user makes in the budget model in Excel.
- [Instructor] You might be wondering whether…it's possible to control some of the inputs…used in a business budget model.…Luckily with Excel, this is easy.…If you'd like to follow along, have my business budget…controls open and navigate to the model overview worksheet.…What you'll notice on this sheet are a couple…of manual inputs, and we can tell because…of the yellow shading for these two cells.…If we have a look at financial year…and try to type in anything and hit enter on the keyboard,…you can tell that cell C7 accepts whatever we type into it.…
Wouldn't it be great if we could…have come controls on this cell?…Let's undo the change by selecting…control Z on the keyboard.…If we navigate now to the lists worksheet,…what you'll see is a column here called financial year.…Let's go and type in a few financial years,…2019/20, 2020/21, and 2021/22.…What we need to do at this point…is create a defined range name.…Now there are a couple of ways to do this,…but the fastest and the one that I like to use…is by simply selecting the three cells,…
- Identify why it is a good idea to use Excel when creating a business budget.
- Examine the importance of revenue drivers when putting together a business budget.
- Recognize how to calculate staff costs when creating a business budget.
- Explore the elements of preparing a concise report.
- Break down the fundamentals of enhanced reporting.
- Determine the best ways to utilize efficient updates.