Arixcel is a Microsoft Excel download that adds power to your formula evaluation. Here are our top 5 ways for using it to elevate your financial modeling in Excel.
1. Formula Maps
The formula map toggle allows you to check a model for formula consistency.
Above, we can see hard coded historical figures in yellow (columns C to E) and brand new unique formulas written in orange. When copied right they become a blue-grey color. The map clearly shows suspicious formulas in cells I26 and J26 which are unique but shouldn’t be.
2. Multi Cell Trace Dependents or Precedents
Arixcel can trace dependents or precedents on MULTIPLE cells at once, unlike Excel on its own which can only do this for 1 cell at a time.
In the screen shot above, rows 8 to 12 need to be deleted, but whenever they are deleted the model shows #REF in rows 23 to 27. Normally, you’d have to search the cells individually to find the link between the 2 sections, but with Arixcel you can select all of the pink cells, click on Explore Precedents and it clearly shows you a link from the pink section to the blue section. Problem solved!
3. Formula Logic
The Arixcel add-in shows you the logical structure of the formula and allows you to take a deep dive into each piece. The complicated formula below is written in cell A3 and is focused on trying to extract a few letters (“IS”) from a file path. The add-in allows you to dive into each function and work out what’s inside it e.g. the RIGHT function is shown as comprising of the CELL and LEN function. Within that, the LEN function is comprised of another LEN function and a FIND function, and so on. It even shows you what value underlies each reference and the location of it. Amazing!
4. Exploring Tricky Functions
Arixcel allows you to see the target locations of VLOOKUP, OFFSET, INDEX and INDIRECT, as well as the cells selected by SUMIF, SUMIFS, COUNTIF, MIN, MAX, MAXIFS, etc. Here we have the VLOOKUP and MATCH functions. The handy colour map highlights the cells in question to help you understand what the formula is doing.
5. Showing the Cells Selected by Logical Filters Inside Array Formulae
In the screen shot below, we want to sum the sales made in the UK. Arixcel allow you to see which cells are being selected by the sumproduct function – in this case, the 2 cells with UK in.