In our last article we looked at how to create an Excel template and apply formatting, making your financial model look as professional as possible. In that article we showed how easy it is to copy and paste a simple set of formats across your model.
Excel cell styles
Excel has a feature (cell styles) designed to make the whole process of formatting your model as easy as possible. All you have to do is select a cell that has the formatting you want. Then under “Home” > “Styles” > “Cell Styles” click “New Cell Style” towards the bottom. You can define a cell style based on the cell you are already working in.
If you click on the picture above you can download an example that has had cell styles added for “Heading 1”, “Heading 2” and “Input” cells (more could be added).
Applying cell styles
Once you’ve created a set of cell styles it’s easy to apply them across your model. All you need to do is pick an unformatted cell. Then under “Home” > “Styles” > “Cell Styles” click on the style you want to use.
Excel cell styles can be great
Using Excel cell styles makes it quick and easy to apply consistent formatting when you’re modelling. Then, if you modify one of your cell styles (e.g. imagine you wanted to change the shading being used by your “Input” cells to a pale yellow) every cell that’s been styled as an input cell will appear with yellow shading just by making the change in cell styles. All input cells would suddenly appear yellow with one change. There would be no need to copy and paste formats across the whole model.