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You can also consolidate large amounts of data into a summary form which can show you as much or as little of your data as you want to see.In this post, I'll show you how to use the Consolidate data feature in Excel to take data from a series of worksheets - or workbooks - and summarize them into a single worksheet.Consider the situation where you have data for twelve months of your business stored one month per sheet in an Excel workbook.If each sheet contains that month's data and if it is laid out in the same arrangement of columns and rows then you can summarize this full year of data into a single sheet using the Consolidate tool.However, if ABC or XYZ sells to an external business entity, then those revenues are part of the consolidated income statement.Similarly, raw material purchases from external suppliers and salaries are also part of the consolidated income statement.Read more: : This is a transaction from parent to subsidiary.
No intercompany receivables, payables, investments, capital, revenue, cost of sales, or profits and losses are recognised in consolidated financial statements until they are realised through a transaction with an unrelated party.
To do this select an empty sheet in the workbook - add a new one if necessary - and click in it.
Choose Data Consolidate to view the Consolidate dialog.
However, even when the data entries are laid out differently in each spreadsheet, Excel can still consolidate them provided that you’ve used the same labels to describe the data entries in their respective worksheets.
Most of the time, you want to total the data that you’re consolidating from the various worksheets.
By default, Excel uses the SUM function to total all the cells in the worksheets that share the same cell references (when you consolidate by position) or that use the same labels (when you consolidate by category).