Excel Tips

Tips from the Finance Trenches: How to Summarize Revenue by Region and Sales Lead

Excel is a powerful tool that allows users to quickly manipulate and analyze key data – yet it’s not unusual for finance and accounting teams to get hung up on practical functions in creating reports and summaries. In this quick tip, we will walk you through five easy steps (with illustrations) to help you summarize sales data. While this functionality can be applied to different scenarios, our goal in this example  is to arrive at a report that summarizes Revenue by Sales Lead and Region. To start, here’s a look at a list of sales leads, each associated with region and revenue for 2016.

Step 1. First, we’ll need to identify the unique regions. To do this, copy and paste the Region column (from above) into a new tab; then highlight the Region column from that newly created tab.

Step 2. Still in your new tab, click on the Data tab in your top toolbar, as shown below. Then select Remove Duplicates.

arrow

Step 3:  Now that your Regions are collapsed into distinct categories, you can use the sumif function to calculate revenue by region for your desired summary table. Start by entering =sumif(   into the top formula bar, as shown below. The required syntax will pop up (Range, Criteria, Sum Range).

To select the values for that required criteria, follow the steps that correlate to the diagram above:

  1. In the formula cells, select your “Range.” This will include the Region column from the original data set.
  2. Next select the “Criteria.” This will include the Region row from your newly created summary table.
  3. Finally, select the “Sum Range.” This will include the Revenue column in the original data set. 

Step 4:  Once you’ve selected the criteria required by the formula in Step 3, simply close your parenthesis to complete the formula. The formula will now summarize your revenue by your distinct regions.

Step 5. Repeat Steps 3 and 4 to create formulas for your remaining regions – then you are done!

I hope you find this everyday tip useful. If you’re Interested in more Tips from the Accounting Trenches, be sure to check out the following:

Keep in mind, 8020 Consulting can help you leverage more advanced capabilities in Excel that can make an immediate impact on your organization. Do you have questions about Accounting or other complex financial matters? Just click the button below to connect with an expert.

Categorized in:

similar articles

Learn to think and approach problems like our financial consultants.

Financial Planning & Analysis

3 Stages of Effective Cost Savings Initiatives

Cost cutting – it’s a goal that nearly every company aspires to achieve. However, unlike other areas of business improvement, there is no public playbook on how to accomplish these desired targets. Whether a firm is undergoing a full restructuring plan mandated by a Chapter 11 filing, maximizing the profit and loss statement prior to… View Article

May 31, 2023Aniv Nayar

Financial Planning & Analysis

FP&A Strategies for Food & Beverage Manufacturing: Maximizing Growth and Profitability

The food and beverage industry is mammoth and a thriving part of the world economy. Globally, in 2021, the food and beverage manufacturing market totaled $5.8 trillion, $6.8 trillion in 2022 and is expected to reach around $7.2 trillion in 2023. The compound annual growth rate (CAGR) is 8.7%, which will result in expected growth… View Article

May 24, 2023Azar Benabou

Financial Planning & Analysis

Recommendations for Aligning Forecasts and Targets Across Functions

While Finance teams own annual budgets and quarterly forecasts, other functional teams such as Sales, Marketing and Operations will often have separate finance-related forecasts, targets and goals for their respective needs. This can occasionally cause confusion to observers as to the “true” finance forecast when different teams provide different responses. Since Finance teams should be… View Article

May 11, 2023Marco Moreno

See All

Back to Insights