To write a formula in Excel, select the cell where you want the result to appear, type an equal sign (=), and then enter your calculation. Formulas can use constants, cell references, and predefined functions.
The 7 basic Excel formulas, essential for any beginner, include SUM, AVERAGE, COUNT, COUNTA, IF, MAX, and MIN, which handle totaling, finding the mean, counting numeric/non-blank cells, applying logic, and identifying extremes within data sets, with AutoSum being a shortcut for SUM and TRIM useful for text cleaning, making these foundational tools for quick data analysis.
For simple formulas, simply type the equal sign followed by the numeric values that you want to calculate and the math operators that you want to use — the plus sign (+) to add, the minus sign (-) to subtract, the asterisk (*) to multiply, and the forward slash (/) to divide.
Simple formulas always start with an equal sign (=), followed by constants that are numeric values and calculation operators such as plus (+), minus (-), asterisk(*), or forward slash (/) signs.
Create a simple formula in Excel
Using Ctrl + T to create a Table in Excel.
In Microsoft Excel, Ctrl+F12 is a shortcut that opens the "Open" dialog box, allowing you to browse for and open an existing workbook file, similar to going to File > Open. It's a handy way to quickly access your saved files without using the mouse, though on some laptops you might need to press Ctrl + Fn + F12.
To subtract one cell from another, type the formula =A1-B1 into the cell where you want the result displayed. This formula subtracts the value in cell B1 from the value in cell A1. You can use the subtraction symbol - to subtract multiple cells; =A1-B1-B2-B3 will sequentially subtract B1, B2, and B3 from A1.
Create a formula that refers to values in other cells
Keyboard shortcut: You can also press Ctrl+D to fill the formula down a cell in a column, or Ctrl+R to fill the formula to the right in a row.
Cells containing formulas that result in an error: A formula does not use the expected syntax, arguments, or data types. Error values include #DIV/0!, #N/A, #NAME?, #NULL!, #NUM!, #REF!, and #VALUE!. Each of these error values has different causes and is resolved in different ways.
Excel's Golden Rule: 1) If a formula input can change, put it into a cell and refer to it in the formula with a cell reference. If it will not change, you can type it into a formula. ALWAYS LABEL YOUR FORMULA INPUTS!
F1 Displays the Excel Help task pane. F2 Edits the selective cell. F3 Displays the Paste Name dialog box. F4 Repeats the last command or action, if possible.
In our example below, we'll use a simple formula and cell references to calculate a budget.
The Excel IF function with two or more conditions follows a generic formula: =IF(AND(condition1, condition2, ...), value_if_true, value_if_false). What this means is that “If condition 1 is true AND condition 2 is true, return value_if_true; else return value_if_false.”
Popular Excel alternatives include Google Sheets, Libre Office Calc, WPS Spreadsheets, and Zoho Sheets, but each has limitations for advanced finance needs. Specialized platforms like Abacum provide comprehensive FP&A capabilities, real-time metrics, and robust scenario planning for strategic decision-making.
Some of the most commonly used function key shortcuts include: F1 to display help or the Office Assistant, F2 to edit the active cell, F3 to paste a name or function into a formula, and F4 to repeat the last action. F5 allows you to go to a cell or find data, F6 moves between panes, and F7 performs a spelling check.
What is the Autosum Excel Function? The Autosum Excel Function[1] can be accessed by typing ALT + the = sign in a spreadsheet, and it will automatically create a formula to sum all the numbers in a continuous range. This function is a great way to speed up your financial analysis.
What are the function keys used for?
Keyboard shortcut method
If you want to restore multiple tabs, or if you need a tab you closed a while ago, just keep pressing Ctrl+Shift+T and your tabs will reappear in the order in which they were closed.