Before starting to work in Excel, it's best to get it set up properly. So first of all, we have to go to file options. Alternatively, if you want to use shortcuts, you can press Alt ft or if you're using older versions of excel. It was Alt f i Within the options you then go to formulas. There are a couple of changes we're going to make here. The first one is in the top left hand corner where it says workbook calculation by default Excel is set up to have automatic workbook calculation turned on this means every time you touch Excel or make a change in any of the cells then all cells are recalculated. This is quite efficient, it means if you make a change everything thereafter's updated and you don't need to worry about it. However, if your model gets big and includes data tables then updating them can take a long time. So if you've got lots of data tables and your model is running slowly then maybe go with automatic except for data tables. If your model gets really big then manual is the one to go for. This means you make lots of changes without the whole workbook recalculating every time you touch Excel. The way you get it to recalculate is to press F9. The second change in the top right hand corner it says enable iterative calculations. By default it's off and we'd recommend you leave it off. Turning that on allows for circular references and you only want that on for certain models. However, if you are sent a file from someone else and they saved it with enable iterative calculations turned on then it can potentially turn it on on your computer. So do be careful and check this box periodically. At the bottom where it says error checking this is where Excel looks for inconsistent formulas. So imagine if you had a sum formula and then underneath that you had another sum formula and another sum formula and another some formula and then you had an average formula. And then underneath that you had another sum formula and another sum formula. But Excel would look at that average formula and say oh I think you meant to do a sum formula here and it would put a green triangle into that cell to say it's inconsistent with those around it. These can be very useful particularly if you are working in a model with lots of consistency. However, in many complex models you can just end up with green triangles everywhere. So we recommend that you turn this off. On the advanced tab, there are two changes here at the top where it says after pressing enter move selection down. We'd recommend you turn this off. It's best to press enter and stay in the cell. It makes it much easier to immediately copy it right. But also maybe you want to format the cell give it a cell style. Maybe copy and paste it to somewhere else. Instead of pressing enter moving down and then having to go back up every time we can just turn this off and when we press enter we stay in the cell. It takes a day or two to get used to because we've all worked in Excel and got used to pressing enter moving down, but it really does save you a lot of time. The last one at the bottom here where it says allow editing directly in cells. We don't want to be editing in these teeny. Tiny Souls. We want to be editing in a huge formula bar at the top of the screen. So turn this off and you'll now be working in the formula bar at the top.