Find the average order value with AVERAGE
Calculate the mean value of a set of customer orders.
AVERAGE
Finance runs on spreadsheets that other people rely on without checking. That raises the bar: a formula that is merely usually right is a liability, because nobody downstream will catch it.
Most finance Excel work is not modelling — it is reconciliation, variance analysis and building the same report faster than last month. The skill that separates people is not knowing exotic functions; it is building sheets that survive a new row being added, a column being inserted, or a colleague reopening them in six months.
Hard-coded ranges. A variance report built against A2:A47 quietly stops covering the data the month a 48th row appears, and because the total still looks plausible, nobody notices until someone reconciles it by hand.
Expect to be handed two tables and asked to join them, then asked what happens to your formula when a column is inserted. The answer they want involves XLOOKUP or INDEX/MATCH, and an explanation of why VLOOKUP's column number is fragile.
40 exercises using the situations above. Work down the levels — each one assumes the one before it.
One function, one step, a small and tidy dataset.
Calculate the mean value of a set of customer orders.
AVERAGE
Identify the extremes in a column of values.
MAX · MIN
Divide actual sales by target to get an achievement percentage.
Pick out the second-cheapest supplier quote rather than simply the cheapest.
SMALL
Subtract cost from revenue to find what each order actually earned.
Divide campaign spend by the leads it generated.
Open a cell for editing without reaching for the mouse or the formula bar.
Copy the cell above into the cells you have selected, without dragging.
Count how many rows meet a numeric condition.
COUNTIF
Add up only the rows matching a text condition.
SUMIF
Work out what a customer pays after their contracted discount.
Pin down what $ changes about a reference, and what it does not.
Two or three functions combined, or one function with conditions.
Cycle a reference through its absolute and relative forms while editing.
Reach the paste-special dialog to drop formulas and keep results.
Identify the one situation VLOOKUP genuinely cannot handle.
VLOOKUP · XLOOKUP
Recall the argument order that differs between SUMIF and SUMIFS.
SUMIF · SUMIFS
Combine INDEX and MATCH to look up a value without a fixed column number.
INDEX · MATCH
Apply two conditions at once to a conditional sum.
SUMIFS
Count rows that satisfy several criteria at once.
COUNTIFS
Return one of three labels depending on where a value falls.
IF
Require two conditions to be true at once.
IF · AND
Return the right rate from several tiers without nesting.
IFS
Work out how many days old each invoice is.
TODAY
Combine date arithmetic with a conditional label.
IF · TODAY
Sum the orders that beat the average, without typing the average in yourself.
SUMIF · AVERAGE
Check whether a salary falls below or above its grade band.
OR · IF
Add up overtime for a single team out of a mixed timesheet.
SUMIF
Add up spend for a single channel out of a mixed campaign list.
SUMIF
Mark a campaign only when it overspends by more than a tolerance.
IF
Combine two logical tests so one condition can override the other.
AND · OR · IF
Match a weight to a rate band, where the weight will never appear in the table.
VLOOKUP
Nested logic across a realistic dataset, with edge cases that bite.
Repair a formula written in SUMIF's argument order instead of SUMIFS'.
SUMIFS
Anchor one end of a range so it grows as the formula moves down the column.
SUM
Add up the top three values without sorting the data or using a helper column.
LARGE
Use absolute references so a lookup does not break when copied down a column.
XLOOKUP
Combine ranking with a lookup to return a name, not just a number.
LARGE · INDEX · MATCH
Diagnose and correct a formula that returns the wrong answer.
IF
Produce a summary line combining count, total and average for one region.
COUNTIF · SUMIF
Write one formula that stays correct filled both across and down a grid.
SUMIFS
Look up a value that only exists two tables away from what you started with.
XLOOKUP
Prefer to work in real Excel? Download the practice files — the same datasets with the answer cells left blank. You lose the feedback, which is the part that does the teaching.
These are not specific to finance — they are the keystrokes and the misconceptions that catch everyone out, whatever the spreadsheet is about.
Open a cell for editing without reaching for the mouse or the formula bar.
Copy the cell above into the cells you have selected, without dragging.
Stamp the current date into a cell as a fixed value.
Pin down what $ changes about a reference, and what it does not.
Read an error code as a diagnosis rather than a failure.
Extend a selection to the last filled row in one press.
Cycle a reference through its absolute and relative forms while editing.
Reach the paste-special dialog to drop formulas and keep results.
Identify the one situation VLOOKUP genuinely cannot handle.
VLOOKUP · XLOOKUP
Pick the right summary statistic for a set with one huge outlier.
AVERAGE · MEDIAN
Recall the argument order that differs between SUMIF and SUMIFS.
SUMIF · SUMIFS
Diagnose a match failure where both values look identical on screen.
XLOOKUP