Data Importing In To Excel
Running head: IMPORTING DATA IN TO EXCEL
Importing Data In To Excel
Victoria Crow
Microcomputer Applications For Accountants
Strayer University
November 5, 2009
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Importing Data In To Excel
Importing Data In To Excel
Background
Article Name:
Simplify The Way You Move Data In To A
Spreadsheet
Authors:
Rayman D. Meservy, Nicholas L. Ball, and
Marshall B. Romney
Date Of Publication:
June, 2009
Retrieval Date:
November 4, 2009
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Importing Data In To Excel
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The Import Data function is a feature in Excel which allows users to import data from
databases and the Internet. In this article, the author explains how accountants can incorporate
data from a database on their own computer, data from a database on their company server, and
data from a database on the Internet. These functions are made possible by Open Database
Connectivity (OBDC) which enables Excel to download data through an ODBC-compliant
connection. The author also details importing data using the PivotTable function which allows
users to summarize large amounts of data without storing the unsummarized data in the
spreadsheet.
When an accountant is performing accounting functions, many times the data they are
working from resides in another location. These locations include their own company databases
as well as other companies databases. Often times the material they are required to evaluate will
be found on the Internet. The Import Data function in Excel allows accountants to import the
data they need, reducing the tedious and error riddled task of cutting and pasting. In the
Accounting profession, there is little room for error. Rounding errors are sometimes acceptable,
but, for the most part, Accounting is an exact science. The numbers are either right or wrong.
This makes the Import Data function in Excel a particularly valuable tool for accountants.
Accountants are required to analyze data and generate reports on a monthly, weekly and
sometimes daily basis. Imagine an accountant having to cut and paste data from various sources
each time they generate these reports. The propensity for error with each cut and paste entry
multiplies. The Import Data function in almost Excel eliminates this propensity for error. The
process of using the Import Data function in Excel makes importing data from various sources
much more streamlined because by doing away with the data input step, it reduces the time
necessary to correct input errors that inevitably occur during data entry.
Importing Data In To Excel
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The Import Data function in Excel gives accountants the ability to refresh the databases
incorporated in to the spreadsheet so they can have the most up-to-date information. This task
can be accomplished at any time by right-clicking on any cell in the data table and selecting
Refresh from the popup menu. It also gives accountants the ability to configure the spreadsheet
to automatically update the data from the database. This function reliably imports the data from
the most updated version of each database and can be configured to update as soon as the user
opens the spreadsheet. These databases fall in to the embedded category; therefore the source
database remains unchanged if modifications are made to the destination spreadsheet. This
eliminates the possibility of a user accidentally corrupting the data in the original database.
The Import Data function in Excel can streamline the process of generating reports which
are the heart of the accountants responsibilities. Reliable data for an accountant to analyze is
critical. The PivotTable allows an accountant to utilize a subset of records that meet the criteria
for analysis. Importing data in a Pivot Table will give an accountant the reliable data they need to
generate accurate reports without bogging the spreadsheet down with unnecessary or
unsummarized data. Importing, rather than cutting and pasting, reduces the chance of errors as
well as gives the accountant up-to-date information via the Refresh feature. Accessing an
external data source and utilizing these Excel features can help accountants more accurately
analyze data and generate more precise reports without the hindrance of errors.
Importing Data In To Excel
References
Meservy, R. D., Ball, N. L., & Romney, M.B. (2009). Simplify the way you move data into a
spreadsheet. Journal of Accountancy, June, 2009
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