33 Excel Templates for Business to Improve Your Efficiency (2023)

FAQs

How do you improve efficiency in Excel? ›

Microsoft Excel enables users to identify trends and organize and sort data into meaningful categories. Excel also performs Human Resources functions, such as sorting worked hours and organizing employee profiles and expenses, which help businesses better understand the structure and activities of their workforce.

Go to Office.com. Click Templates at the top of the page. On the Templates page, click Excel. Tip: To see more templates, under BROWSE BY CATEGORY, click the category (like Calendars) that you want to see.

The Business Plan Template spreadsheet model is available in Microsoft Excel and Google Sheets.

Advanced Excel skills include the ability to produce graphs and tables, use spreadsheets efficiently, and perform calculations and automation to process large volumes of data. With the rise of big data and data analytics, advanced Excel skills are a real asset both during the job hunt and everyday work tasks.

The main uses of Excel include: Data entry. Data management. Accounting.

Excel has several helpful features and functions that can help you create a small business bookkeeping system that works. You can enter and categorize transactions through Excel, create various bookkeeping templates, track invoices, and much more.

Open Microsoft Excel. On the right side of the Home tab, click More templates. Scroll through the displayed list of templates to find the one that suits your needs. If you don't find one you like, you can use the Search for online templates text field to see if there is a template online for what you need.

How many templates does Excel have? ›

Microsoft Excel allows creating two special templates - Book. xltx and Sheet. xltx - that are the basis for all new workbooks and all new worksheets, respectively.

To base the workbook on an installed template, click Installed Templates, and then under Installed Templates, double-click the template that you want to use. To base the workbook on a template that you created, click My templates, and then on the My Templates tab, double-click the template that you want to use.

HubSpot's Free Business Plan Templates are the best way to create a professional, thorough business plan. The templates include instructions and everything you need to know about starting your company.

How to Create a Business Plan using Excel - Part 1 - Introduction - YouTube

What are the 7 common uses for Excel? ›

Excel is a Microsoft Office program that's designed to help calculate, tabulate, store, chart, and compare data for current and future reference. Its features are robust. Using Excel for accounting can provide an excellent tool for performing these tasks for small businesses.

Business Size: Both are suitable for small businesses, but there are a couple caveats here. QuickBooks is also appropriate for medium-sized businesses, so it can grow as your business does. Excel is suitable for very small start-up businesses.

Microsoft Excel is an invaluable tool for accountants to make numerous schedules and calculations that traditional bookkeeping software doesn't provide. It comes with functions for performing complex mathematical calculations and also supports many add-ons for activities like financial forecasting and modeling.

MS Excel is used for a range of purposes in a business including accounting, stock management, sales reporting, product information management and automation. So, if you're wondering why Excel is so important, it can power a whole business!

If you want to track business expenses in Excel, you'll need to create a spreadsheet and fill in the appropriate information. The most important columns are likely to be “date,” “description,” “category,” and “amount.” You can also add additional columns if needed, like “vehicle number” for tracking car expenses.

How Do You Calculate Efficiency? Efficiency can be expressed as a ratio by using the following formula: Output ÷ Input. Output, or work output, is the total amount of useful work completed without accounting for any waste and spoilage. You can also express efficiency as a percentage by multiplying the ratio by 100.

How do you calculate data efficiency? ›

The work efficiency formula is efficiency = output / input, and you can multiply the result by 100 to get work efficiency as a percentage. This is used across different methods of measuring energy and work, whether it's energy production or machine efficiency.

If your excel file is large (2 mb or larger) you will notice longer loading time, reduced performance, unresponsiveness, etc. All this can be avoided if you keep your file size reasonable.

If you have tasks in Microsoft Excel that you do repeatedly, you can record a macro to automate those tasks. A macro is an action or a set of actions that you can run as many times as you want. When you create a macro, you are recording your mouse clicks and keystrokes.

Examples of efficiency in a Sentence

Because of her efficiency, we got all the work done in a few hours. The factory was operating at peak efficiency. A furnace with 80 percent fuel efficiency wastes 20 percent of its fuel. The company is trying to lower costs and improve efficiencies.

Efficiency is about getting the most out of your resources. It means your business is able to produce more with less money and less waste. It also means you can operate day-to-day without making costly errors.

You can measure employee productivity with the labor productivity equation: total output / total input. Let's say your company generated $80,000 worth of goods or services (output) utilizing 1,500 labor hours (input). To calculate your company's labor productivity, you would divide 80,000 by 1,500, which equals 53.

It can be measured by dividing total net sales by accounts receivable, which is the number of receivables paid during a fixed period. An efficient business has a high turnover, meaning sales are quickly converted to cash that can be used to pay bills and grow the business.

First, divide your actual output rate by your standard output rate. Then, multiply the resulting amount by 100%. The resulting amount represents production efficiency.

What is line efficiency? ›

The line efficiency formula is the number of hours when a high-volume pick-and-place machine is putting parts on the printed circuit board, divided by the number of hours where you are staffing the SMT assembly line. Put more simply, it is the placement time hours divided by the staffed time hours times 100.

An efficiency ratio of 50% or under is considered optimal. If the efficiency ratio increases, it means a bank's expenses are increasing or its revenues are decreasing.

So, productivity means doing more work during the same time frame, while efficiency means doing the same amount of work in less time. Even though productivity and efficiency are two separate things, we must know that they are interdependent.

Measuring operational efficiency involves keeping track of a company's inputs and outputs as performance indicators. Typically, these performance indicators relate to efficiency, quality or value. Examples of this include automation accuracy, quality indexes and customer satisfaction.