Accountants use Excel all the time. In this video, which is great for Accounting students, we look at the Accounts Receivable (AR) or Accounts Payable (AP) exercise.
Accounts Payable is what you, or your company, owe to vendors and suppliers. Accounts Receivable is what is owed to you by customers. A lot of companies use the term Net 30. That means an invoice, for AR, is due in 30 days. For AP, the vendor wants their money in 30 days. Both AR and AP are listed on the balance sheet. AR shows up under current assets. AP is a liability and shows up under current liabilities.
Excel - Advanced Filters
Excel filters are great for seeing just a subset of your data. You can use filters for text, numbers, and dates, but also by color. You can use font color or fill color (the paint can). You can also use Advanced Filters. You Advanced Filters when you are looking at multiple fields but for different criteria. For example, I want to filter and only see people in Georgia and New York. That is easy to do and can be done with the drop-down filter. But, for Georgia, I want to see people who are Single, and for New York, I want to see Family. That requires an Advanced Filter.
Artificial Intelligence (AI) in Microsoft 365
Artificial Intelligence (AI) is in all Microsoft 365 apps - Excel, Word, Outlook, PowerPoint, Teams, and other M365 apps. In Excel, we have Analyze data on the Home tab and the ability to get data from a picture or screenshot.
