How to Create a Monthly Formula in Excel: Step-by-Step Guide

Learn how to create a monthly formula in Excel using SUM and IF functions in this concise guide.

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To create a monthly formula in Excel, use the SUM and IF functions. For example, to sum values in column B that correspond to dates in column A for the month of January, use: `=SUM(IF(MONTH(A1:A30)=1, B1:B30, 0))`. Press Ctrl+Shift+Enter to make it an array formula. Adjust the date range and month number as needed.

FAQs & Answers

  1. What are SUM and IF functions in Excel? SUM adds up numbers, while IF evaluates a condition and returns values based on whether the condition is true or false.
  2. How do I create an array formula in Excel? To create an array formula, write your formula and press Ctrl+Shift+Enter instead of just Enter.
  3. Can I sum values for different months using Excel? Yes, you can modify the MONTH function's argument to represent any month you want to sum values for.
  4. What are common uses for date functions in Excel? Common uses include filtering data by date, calculating age, or summarizing monthly sales.

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