Before we get into the building of the model (and hopefully you will have a go yourself), I wanted to try to make life as easy as possible for you. If you know the basics of Excel, then there is one tip which can make a massive difference to your productivity – the use of the $ sign in formulae.
Excel operates on the basis of relative cells – meaning it doesn’t actually use cell addresses, like A5, when calculating, it uses the cell’s position relative to the cell where the formula is entered. That can make copying cells very slow.
Unless you know how to tell Excel that you mean a SPECIFIC cell, not where the cell is in relation to the current cell.
If all that sounds a bit confusing, watch the video below and it will make a lot more sense. I will also show you a couple of other useful tips.
[If you are a complete Excel noob, here’s a page with links to Excel training resources.]