Included here is the start of a much needed compilation of Excel add-ins, macros, and tools. For the one person who'll read this, please add your most frequented excel shortcuts, and own collection/links of Excel Add-Ins/Macros/Tools in the comments down below. That way when any new WSO users search for 'Excel Tips' they can find and bookmark this. Add Sheet: Helps User to add multiple sheets with predefined names or standard name. User can add worksheets with predefined names by simply listing down the names of worksheets to be added on a tab, and press 'Add Sheet' option under 'Sheet Functions‘. This will add blank sheets to the active workbook with names defined by user.
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Microsoft Excel is considered one of the most useful tools in the workplace. Excel gurus use keyboard shortcuts as if they were playing a piano, and can make Excel do some really wild things using advanced formulas and VBA scripting. However, if Excel is used incorrectly, it can seriously take your productivity levels down. If you are comfortable with your knowledge of how to build formulas, the only other variable you can control is speed. Here are the top 5 Microsoft Excel add-ons (both hardware and software) that can increase your speed and thus productivity in Excel:
1) KeyCuts Silicone Keyboard Covers
These keyboard covers take learning Excel keyboard shortcuts to the next level. They guide you through the top 20 most commonly used shortcuts for data manipulation and formatting. One of the best parts about these keyboard covers is that they are made of thin flexible silicone, and slip on and off your Macbook keyboard with ease. The covers come in a variety of colors to add individuality to your Macbook. Spill crumbs or get dust on your keyboard often? These covers protect your keys from everyday use!
2) Excel Utilities
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Not to be confused with ASAP Utilities, this handy add-on is meant for the power Excel user who is used to doing advanced operations but wants some extra keyboard shortcuts and buttons to quickly do advanced operations. Features include unhiding all sheets, unprotecting all sheets, and keyboard shortcuts for conditional formatting operations.
3) 4Keyboard Excel Stickers
These are simple stickers you stick onto your keyboard that show what the Excel keyboard operation is for a given key on your keyboard. For instance, the letter V has the word “Paste” on it letting you know that hitting CONTROL plus V lets you do a paste operation.
4) Analysis ToolPak
This is an add-in developed by Microsoft that’s been around for a long long time. The add-in lets you do complex data analysis relating to statistics and engineering. Common statistical operations like finding regression, correlation, and sampling are reduced to seconds by utilizing this add-in with your data.
5) ASAP Utilities for Excel
Dubbed as “The most popular add-in for Excel users,” this add-in helps you shave minutes and hours from repetitive data manipulation tasks. Tasks that usually require formula writing are solved with the simple click of a button. Quickly remove leading, trailing, and excessive spaces from data that you have imported that contains tons of spaces. Quickly create a bunch of worksheets with auto-naming. Select cells based on content and formatting. ASAP Utilities truly gets all the dirty work done for you!
Let us know what you think of these add-ons! Do they boost your productivity?
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(This post originally appeared on the Excel With Business blog)
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If you have sluggish Excel models, it might not just be the file size that is slowing things down. Often it’s the memory being used and when things get really bad, you might even get a “Not enough Memory” or “Not enough system resources to display completely” error message. When you get this frustrating message, the only solution is to close Excel and restart it, so let’s look at some ways to improve the performance of your Excel models.
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Typically you might consider upgrading your RAM or switching from a laptop to a desktop to counteract these problems, but these are unlikely to help as it’s quite possibly the way that Excel is being used which is holding you back – not your machine.
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Understanding Excel Memory Allocation
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If you get a memory error message, check the task manager for memory utilisation. If you have a RAM of more than 4GB you’ll know that your computer has ample memory – although Excel is complaining about none being available. The reason for this is that Excel has its own memory manager and memory limits, regardless of the memory capacity of your machine. In fact all the Excel versions after Excel 2003 were designed to use a maximum of 2GB memory. So while your computer may have 4GB or even 8GB RAM, Excel can only use 2GB of that. If it reaches this limit you get the error messages. So upgrading your computer’s memory probably won’t help! The 64-bit version of Excel has boosted this memory limit exponentially. Hence, 64-bit Excel versions can use the entire system memory giving you much better performance, but read this article about the 64-bit version of Excel before you jump straight in and upgrade.
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Countering Memory Exhaustion Problems
Now that you know why you have these limitations, we’ll see how to minimise their occurrence. Check this article for some tips on reducing file size and here are some more tips to reduce the working memory used by your Excel file.
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When you are building a model in Excel, there are a few ways of working which are not only good practice, they will also reduce the chances of encountering memory problems in your model.
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- Plan your Excel solution designs properly. If you insert a new column in the spreadsheet, it forces Excel to recalculate all of the formulae affected by that insertion. Depending on the number of impacted formulae and their complexity you could run out of memory. A better planned design ensures you can avoid such changes.
- Work from left to right. Excel starts calculating from the top left-hand corner, then continues across and down the sheet. This means that input values should be to the left and above the formulas which are referencing them.
- Avoid creating formulae referencing the entire columns or rows. Some Excel users create a formula using $D or $AA to reference the entire column to simplify the calculations. While it was fine with older Excel versions the new versions have over a million rows per column – so entire row or column references causes Excel to calculate the formula a million times, and work much harder than it needs to.
- Keep things neat. Try to keep things in one single workbook, as external links can slow things down, as well as cause errors. Keeping input cell and their formulae on one page will also reduce memory, but from a financial modelling best practice perspective it’s a good idea to split inputs and assumptions from their calculations.
- Check your used range. Sometimes Excel “remembers” a used range, even though you have deleted the reference, and this can increase the file size and memory usage. To check this on each sheet, press Control + End. This will take you to the last used cell of the workbook, and if it’s far beyond what you need, then delete the rows and columns which are not being used. This can greatly reduce the file size.
- Open every large Excel file on a separate “instance”; i.e. open up a new session of Excel for each workbook. The memory limitation in Excel is for every instance and not for the entire application. Opening every file on a separate instance gives you dedicated 2GB memory rather than shared. Ideally, you’d only have one file open at a time, but if you’re running a large process, you might like to keep working in Excel on another file whilst waiting for the large file to finish its process.
- Besides memory restrictions Excel also imposes a maximum source cell limit of 32,760 cells for smart filling. If you are planning to use the smart fill feature, you should look at just using the last 2-3 rows or columns and drag rather than selecting all the content from the first row. This will help control the number of source cells and ensure you do not reach this limit.
- Check for unwanted shapes: If you are adding pictures from websites into the spreadsheet, you could end up importing a lot of shapes which are not clearly visible but are eating into your memory. You need to open the selection panel (Home ribbon > Find & Select > Selection Panel) and remove all the shapes that you do not want.
- Lastly, check the add-ins and ensure they are updated. Typically, the updated versions of third party are more efficient and it can help improve the Excel performance greatly.