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In this case it is usually easier to start again from the beginning, wasting the work done previously. Without documentation, the original purpose and methodology is often unclear and difficult to decipher.
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Many users prepare a simple worksheet which then develops into something much moreĬomplicated over time. Lack of documentation is a very common failing. Breaking complex formulas down into more managable parts, described below, also helps to minimize errors and aid troubleshooting. What-if type calculations also are simplified: what if the exchange rate varies from 0.75 to 0.70 or 0.80? No formula editing is needed and it is clear what rate is used in the calculations. It is much easier to set up an input cell with the exchange rate and reference that cell in any formula needing the exchange rate.
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If you input a formula in cell C1 of =0.75*B1 (for example to calculate the value in Euros of the USD dollar amount in cell B1), you will have to edit the formula when the exchange rate changes from 0.75 to some other value. For example, conversion from one currency to another requires knowledge of the current conversion rate.
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Many users set up long and complex formulas with fixed values typed directly into the formula.
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