Top Shortcuts for Excel Efficiency
Introduction
Excel shortcuts are an essential tool for any modeler as they provide a more efficient way to perform calculations, formatting, and analysis. As a baseline, modelers should aim to minimize the use of the mouse and perform most, if not all, functions on the keyboard. Once achieved, modelers are relieved of tedious and repetitive tasks allowing them to focus in on a model’s overall purpose.
Alt Functions in Excel
The most important key in reducing the mouse usage in excel is the Alt key. This key is to allow the user to navigate the excel ribbon without using the mouse. Pressing the Alt key causes the ribbon to display letters next to its corresponding category. This opens the user up to access all functions derived from the ribbon.
By pressing ALT + H, all the functions within the “Home” section appear.
Memorizing all these keystrokes is extremely difficult, so below is a list of some of the most frequently used alt functions.
ALT+E+S: Opens the paste special dialog box (If something is copied)
ALT+W+VG: Removes/adds excel gridlines
ALT+I+R: Insert row
ALT+I+C: Insert Column
ALT+W+F: Freezes the row and column adjacent to the selected cell
ALT+H+E: Clear cells formatting, content, notes, hyperlinks, or all
ALT+H+O+I: Auto-fit selected columns
ALT+H+O+A: Auto-fit selected rows
Many Alt related keystrokes exist and whichever ones are used the most is dependent on the task. To internalize the shortcuts, it is best to limit yourself from using the mouse for accessing the excel ribbon and simply navigate around it using Alt. Through repetition, the most frequently used shortcuts will naturally be internalized.
Essential Shortcuts
The control functions of excel generally cover more basic functions such as copy, paste, undo, save, etc. Because of this, the control functions have a huge impact on saving the user time and effort. Keep in mind that apple products replace “Ctrl” with “Command” and compact keyboards may require the user to use the “Fn” key to access certain keys such as page up, or page down. Notice that the “Ctrl V” function is omitted from this list. This is because it is more accurate to use the ALT+E+S function to utilize the paste special options. Below is a list of the most frequently used excel shortcuts:
Ctrl + `: Shows all the formulas in an active sheet
Ctrl Page Up (↑) or Page Down (↓) / Left (←) or Right (→): This switches between tabs of a workbook
Ctrl Arrows: Moves between populated cells horizontally and vertically across an excel workbook
Ctrl Z: Undo
Ctrl Y: Redo
Ctrl F: Opens a search bar to search within the document
Ctrl Tab: Goes to the next workbook
Ctrl Home: Move the cursor to cell A1
Ctrl End: Move the cursor to the last cell containing text
Ctrl Space: Selects an entire column of an excel spreadsheet
Shift Space: Selects an entire row of an excel spreadsheet
Ctrl “Minus”: Deletes selected row or column
Ctrl C: Will copy selected cells
F9: Can be used to evaluate formulas with multiple inputs in excel (must be clicked on a specific portion of the function to use this Shortcut for this purpose), to update all values in a financial model if not using automatic refresh, and generate a new value when using the function =RAND()
F4: Locks cell values within a formula when pushed, if pressed multiple times it will lock the values in the order of $A$1, A$1, $A1, A1
F4 (Outside Formula): Repeats the last action taken Ex. The last action was highlighting a cell, press F4 on another cell to highlight it.
F2: This will display the function of a single cell and highlight the inputs for that function
Alt Tab: Switches between excel sheets
Conclusion
Although it takes practice, implementing excel shortcuts will benefit the user greatly in the long run. By taking the list of excel shortcuts given in this paper, the learning curve to efficient excel practice can be reduced significantly.
Before founding 3E in 2016, Managing Member Eric Bergin was Director at Rockpoint Group, where he was responsible for for the Finance Group, as well as acquisitions, asset management, and investor reporting activities.