What is an Excel Template?

 What is an Excel Template?

What is an Excel Template?

Most of the computer users use Microsoft Excel mainly for calculation and dashboard purposes. The fact is that many times Excel is used for common purposes like EMI calculation, monthly budget planning, and so on. Suppose you have created an Excel workbook to calculate the loan amount you need to pay towards your car loan monthly. Can’t you reuse the same Excel workbook when you have to calculate your house loan installment? Microsoft Excel Template helps you achieve this. Microsoft Excel Template is an Excel workbook which can be used as a model to create similar workbooks. In other words, Excel templates are readymade workbooks which can be reused to make your work easier. Excel templates help you save your valuable time and effort while performing complex calculations or data analysis.

Microsoft provides a number of built-in templates within Excel. You can reuse those templates if they match your requirements. You can find a vast selection of Excel templates at Microsoft Office online as well. Many websites also offer free download of Excel templates. To open already installed templates within Excel, open Microsoft Excel and then click Microsoft Office Button -> New -> Installed Templates to open a window as given below.

You will find a list of templates including Billing Statement, Blood Pressure Tracker, Sales Report and so on. When you click on each template, you will see a preview of the template on the right hand side of the window. Suppose you are planning to use an Excel workbook to track your monthly budget. Then click on Personal Monthly Budget and click Create button. The Excel workbook opened will be a beautifully formatted one with automated calculations. You just have to enter the details required and the workbook will help you track your budget automatically. You can easily understand what you have to enter in each cell because the template gives clear details. You also have the freedom to customize the list to a certain extend. For example, if you own a house and thus you don’t have to pay anything towards rent, then you can remove Mortgage or rent under Housing list easily. You just need to click the arrow next to Housing to get a screen as given below.

Now, uncheck Mortgage or rent and click the OK button. Now, that particular type will be removed. You can add information or change the color scheme as you like. But, you should be careful not to touch the formulas if you are not confident of modifying it without errors. After customization, you should not forget to save the changes.

If you wish to look for templates at Microsoft Office online, you can either directly visit their website or use the search tool available within Excel. If you visit the website at http://office.microsoft.com and click TEMPLATES -> Excel, you will find a vast selection of different categories from which you can download your preferred template. When you open the New Workbook window by clicking Microsoft Office Button -> New, there you will see the section Microsoft Office Online and many subsections. If you click any of the subsections, then Excel will try to connect to the Microsoft office online and get a list of templates matching to that specific category. For example, if you click the section “Timesheets”, then you will get the following two screens one by one.

You have to select the required template and click the Download button to get it on your machine.

Read More about Excel here

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