What is a time stamp?
Often when you use excel to track a particular item (like expenses, exercise schedules, investments) you usually enter the current date (and time). This is nothing but timestamping. Once the item is time stamped, it is much more easier to analyze it.
So how do I generate timestamps in Excel?
We all know about the now() formula in excel and how it tells you the current date and time. The only problem with it is that, when you press F9 or recalculate formulas, the now() will be changed to reflect latest date and time. Thus we cannot use NOW() as a time stamp.
A good alternative (although manual) is to use keyboard shortcuts CTRL + ; or CTRL + : to insert current date and time in the active cell. Since this places the value, we don’t need to worry even if the date or time changes. But the only issue is, every time you need a time stamp you have to press the 2 keys.
A better way to get timestamps in excel is to use a special type of formulas, called as circular formulas.
What the heck is a circular formula?
A circular formula refers to itself (or to another cell which in turn refers to this cell). Confused ? Well, let me give you an example.
=if(A2<1000, A2+1,A2)
Now the above formula is normal, but the moment you write it in the cell A2, you have made it a circular formula. So, each time you run the formula (by pressing F9) the value in A2 will go up by 1, just like an incrementing counter.
But here is a thing you should be aware of: There is a setting called “iterations”, it tells excel how many times it should run a formula before finalizing the result.
This setting wouldn’t make any sense in case of regular formulas. But it is very important for circular formulas. If not for this, excel would go in to an infinite loop and stall.
Now, by default iterations in formula computation is turned off. That means when you write a circular formula or create a circular reference, excel shows you a message warning you and it doesn’t evaluate the formula.To turn the iterative calculation, and thus enable usage of circular formulas, go to menu > tools > options > calculation tab and check the iteration box. In excel 2007, you can go to office button > excel options > formulas > iteration area.
As you can see the default max. iterations per formula execution is 100, which means, every time you run the circular formula, excel calculates it 100 times before presenting the value. So our formula =if(A2<1000, A2+1,A2) written in cell A2 would go up by 100 every time you run.
Back to Generating Time Stamps
Now that you are knowledgeable about circular formulas, here is how we can refine the “time stamp generation” problem:
if the cell doesn’t already have time stamp, insert current date time using now(), otherwise leave the value as it is
and we will trigger the formula once we make certain changes, for eg. whenever you enter data, you can tell excel enter timestamps. See this:
The formula itself is very simple:
=IF(C3<>"",IF(B3="",NOW(),B3),"") in cell B3.
What it does?
It checks cell C3 and whenever it is not empty it runs the circular formula IF(B3="",NOW(),B3) which fetches NOW() value only if the cell B3 doesn’t already have a value, thus serving timestamps.
The above formula works only if you have enabled iterative calculation mode as described above.
Your thoughts ?
PS: Having questions on formulas, try our excel formula helper tool and learn 50+ forumals in a fun way
17 Responses to “Budget vs. Actual Profit Loss Report using Pivot Tables”
Good Work, Yogesh & Chandoo! Thanks.
Hi everybody,
first sorry I am late to say something about this topic;actually I was waiting last part
second I am not accountant I am an Engineer
third """"Very Important""" the idea is not about Loss but I am sure it is profit
Based on third it shows:
1- How to use EXCEL
2- How to use pivot TABLES
3- How to collect and arrange DATA
4- How to make reports
Many Thanks
Hi Yogesh and Chandoo,
Thank you for sharing your knowledge!
You guys are great!
thanks chandoo and yogesh, thanks for you lessons, are great!....i have a idea for a budget. I try to do it..... thanks for all
Thanks a lot for sharing the most powerful tool worldwide "knowledge"
Warm greetings from Peru
Hi -
This is a really great article because it's a simple and common thing you'd want to do with a pivot table but not at all obvious how to do it! So - muchas gracias to Chandoo and Yogesh!
One thing - I couldn't get past the group error in the sample file. I would click on ungroup but it didn't seem to have any effect. I'd appreciate it if anybody has any pointers here.
-Juanito
Hi Chandoo
I am also having the group error. Can't seem to ungroup? Appreciate if you explain further on the steps required in order to get to calculated items.
Many thanks and keep up the great work.
Cheers
Adam
Hi Chandoo,
I'm struggling resolving the problem depicted below:
I have a set of data, with (among others) a "Region" field (can be APJ, EMEA, or AMS), and a "Country" field.
Unfortunately, I need to group data by the following 4 Regions: APeJ, Japan, EMEA and AMS.
I first tried to make a pivot with Region and Country in the rows (or columns), and then group Country data as per the above.
Alas, as soon as I have a new Country that appear in my data set, my groupings are broken, and I have to redo the job of ungrouping, grouping etc.
I thought I could try to use calculated item, by adding first a new column to my dataset concatenating Region_Country, and create an "APeJ" calculated item that would sum all the "APJ_*" and substract the "APJ_Japan", but again, no clue, as I can't find a way to use any wild card in those formulas.
Given that I already found extremely helpful tips and tricks in your site that helped me manage that bunch of data, I'm pretty sure you'll have a bright idea on how I can solve that one!
Thanks in advance for your lights!
Hi Catherine...
In such cases, I advice using an additional column in the data itself. You can set-up a grouping table else where with country in first column, region in second column. And then in the data, you can add an extra column and use VLOOKUP to fetch the region based on the country.
Then feed this entire data (with extra column) to pivot table and use the extra column to group the data.
Hi Chandoo,
Thank you for your prompt answer.
I finally came to the same conclusion - after a rest 🙂 . I was probably too tired Friday evening (it was rather late), having spent hours in manipulating all my surveys data so as to pull rolling averages, make nice graphs and so on, and was trying to find a complex solution when there was a simple one.
Thanks again,
Catherine
Hey,
Great post!
I for example have different database structure with the following fields :
Date, Expense, Income, Sum (Income - Expense), Category (Sales, Cost of Goods and etc).
Creating a P&L report for the whole year works great. Including gross margin % and etc.
Though, creating P&L report by QTR/Month is becoming impossible since i get the following error : “This PivotTable report field is grouped. You cannot add calculated item to grouped filed.”
Is there a solution for this kind of problem?
Like Adam and Juanito, I also cannot ungroup.
Would appreciate it if you can add a few more lines and a screenshot or two on where to put the mouse cursor to ungroup.
Hi, I have figured out the ungrouping problem. One of the earlier steps was to group by month, if you pull the month back down to the column then right click and then select ungroup, then pull the month back up so you end up with just data source and budget/actual as the headings, then you can continue on.
To solve the ungroup problem, my method is:
Copy the "data" sheet to a whole new Excel workbook
and directly work on Part 6.
And since it is a fresh copy, Excel don't show me the "can't ungroup" problem. Hope this help.
Thank you Yogesh for this wonderful tutorial.
Kent, Malaysia
Just when i thought pivots were awesome i learn about inserting the calculated fields and that makes them more awesome. chandoo where have you been all my life.
Hello - your P&L pivot version has really impressed my boss and would like to use it. I have applied it for a actual vs budget vs forecast model I have created. One problem. In your variance above the operating profit percent % variance shows 33.8% but I want it to show (0.01) point or the true diff from prior budget.
I know I can add calculation to the side but boss would like to see it in pivot table.
Please help
Thanks
I have a further query which may solve my above dilemma. Is it possible to add a column that calculates percent increase. So in the example above a new column would be added to show variance %.
Any help would be appreciated.
Thanks