Hello House, please I need help with this Excel project. I started learning financial projection with Excel recently, after learning the basics of accounting.

So, I proceeded to re-create a financial model to practice what I’ve learnt so far, but I noticed that my calculations are slightly different from the ones in the original document I’m following.


Attachment 1: This is is the original model I was following. The total calculation for the payroll in cell E8 = 4,000. Which happens to be correct after calculating it manually.


Attachment 2: This is my own calculation, and I got “4,001” despite using the same formula, data, accounting format, “rounding up to 0”, and other similar details.

As a result of this unneeded rounding up, my calculations are very different from the original document and I’m having a BALANCE SHEET THAT REFUSES TO BALANCE.

……..

Attachment 3: In this scenario, from the 1st model I re-recreated, the function, “SUM(C28:O28) = 1,770”…which happens to be correct after checking manually.


Attachment 4: After getting frustrated due to incorrect calculations, I decided to recreate the model again from scratch, after working on it for almost a month

In the new workbook, I tried using different method by creating the sheets in a random manner. But the very 2nd Sheet I created (Amortization & Deprecation) started showing miscalculations again…

The same function, “SUM(C28:O28) gave me “1,774” despite using the same figures, formats, data and other details…

Please I need help because it all looking like a wasted effort and I don’t really know how to continue from here.

B.S: the initial FINANCIAL MODEL I’m recreating was completed in 2005 or thereabout, so I don’ t know whether the versions of Excel then have precise calculations than the moderns ones.

Too small to see.

So firstly 23.08×40×1×52÷12 =4,000.5333333333

So they definitely are doing some rounding. And it looks like your spreadsheet to is also doing some rounding. Let me think through this.

Edit. Send me these spreadsheets. Need to do some cell checks. Looks like the figures displayed in the cells are rounded for display purpose while the underlying figures are what the functions uses in calculating your values.

Or you can Audit your formulas to see step by step evaluation

coolshegs1

It's is a round function.

Replace your formula with this

=Round((C8*D8*B8)*52/12,-1)

You should have your answer.

The function is to round to the nearest 10.

I think there is also a way you can use the number format window to do this if you don't what to use function with formula showing. But I can't remember the number format syntax now. I guess that's what your original work used.

Try check the custom Number format box settings of the original work. You will see the syntax. Just copy it and use in yours.

Hope this help.

hupernikao:
coolshegs1

It's is a round function.

Replace your formula with this

=Round((C8*D8*B8)*52/12,-1)

You should have your answer.

The function is to round to the nearest 10.

I think there is also a way you can use the number format window to do this if you don't what to use function with formula showing. But I can't remember the number format syntax now. I guess that's what your original work used.

Try check the custom Number format box settings of the original work. You will see the syntax. Just copy it and use in yours.

Hope this help.

Okay boss I'll try this nd get back to you. Thanks very much for the reply!