How to use IF Function in Microsoft Excel | IF Formula in Excel

Summary

In this tutorial, viewers learn how to calculate outstanding amounts in Microsoft Excel using the IF formula. The video walks through the process step-by-step, starting with setting up a table that includes sales amounts and payments received. It demonstrates how to apply the IF formula to check if the sales amount equals the payment received, displaying 'No Outstanding' if they match, and calculating the outstanding amount if they don't. The script also covers how to align cells and calculate totals using the SUM function, providing an easy-to-follow guide for Excel users.

Takeaways

• 😀 The video teaches how to calculate outstanding amounts using the 'IF' formula in Microsoft Excel.
• 😀 The process involves calculating the difference between sales amount and payment received to find the outstanding amount.
• 😀 If the sales amount equals the payment received, a message box displays 'No Outstanding'.
• 😀 If the amounts are not equal, the outstanding amount is calculated as the difference between sales and payment received.
• 😀 The formula to use is: =IF(sales_amount = payment_received, 'No Outstanding', sales_amount - payment_received).
• 😀 After applying the formula to the first cell, it can be dragged down to apply to other cells.
• 😀 The video includes steps to calculate total sales amount, total payment received, and total outstanding amount.
• 😀 The 'Alt + Equal' shortcut is used to apply the SUM formula for calculating totals in the cells.
• 😀 The formula automatically updates as you drag it across other cells to calculate totals.
• 😀 The final totals for sales amount, payment received, and outstanding amount are shown at the end of the process.
• 😀 The video concludes by thanking the viewers and encouraging them to support the channel.

Q & A

What is the main topic of the video?

The main topic of the video is how to calculate the outstanding amount using the IF formula in Microsoft Excel.

How do you calculate the outstanding amount in Excel?

To calculate the outstanding amount, use the IF formula. Subtract the payment received from the sales amount. If both are equal, display 'No Outstanding'. If not, show the difference between sales amount and payment received.

What formula is used to calculate the outstanding amount?

The formula used is: `=IF(Sales_Amount = Payment_Received, 'No Outstanding', Sales_Amount - Payment_Received)`.

What should appear if the sales amount and payment received are the same?

'No Outstanding' will appear if the sales amount is equal to the payment received.

What happens when the payment received is less than the sales amount?

If the payment received is less than the sales amount, the outstanding amount will be displayed as the difference between the two values.

How do you apply the formula to multiple rows?

To apply the formula to multiple rows, you can drag the formula from the first cell down to the remaining cells.

How can you set the alignment of the cells in Excel?

To set the alignment of the cells, select the cells, go to the Home tab, and click the 'Right Align' button.

How do you calculate the total sales, total payments, and total outstanding amounts?

To calculate the totals, use the `SUM` function. Press 'Alt' and '=' to automatically select the range, then press Enter to get the total.

What does the 'Alt + Equal' shortcut do in Excel?

'Alt + Equal' is a shortcut that automatically inserts the `SUM` formula to calculate the total for a range of cells.

What is the significance of using the IF formula for calculating outstanding amounts?

The IF formula is useful for determining whether the sales amount and payment received are equal, allowing for quick calculation of the outstanding amount and displaying a custom message when no outstanding balance exists.