How to Sum by month in columns in Excel

Summing data by month in Excel is a crucial skill for anyone dealing with time-series data, financial reports, sales analysis, or any dataset where transactions or events are logged over time. This technique allows for the aggregation of data over monthly periods, facilitating trend analysis, budgeting, forecasting, and monthly performance review.

👉Purchase our book to improve your Excel productivity

Benefits

• Trend Analysis: Easily visualize monthly trends in data over time.
• Budgeting and Forecasting: Assess monthly performance against budgets or forecasts.
• Simplifying Data Analysis: Aggregate daily or weekly data into monthly summaries for a more straightforward analysis.
• Time Efficiency: Automate the process of monthly summing, saving time on manual calculations.

Step-by-Step Guide

Preparing Your Data

Ensure your data is structured appropriately, with dates in one column and the values to be summed in another.

Example Data Structure

• Column A: Dates
• Column B: Values to Sum

Sum by Month Using SUMIFS and EOMONTH Functions

Step 1: Create a Month-Year Column

1. In Column C, next to your dates, create a formula to convert dates into a month-year format. Enter the formula =TEXT(A2, "mmm-yyyy") in cell C2 and drag down.

Step 2: List Unique Months

1. In another column (say Column E), list down each unique month-year combination for which you want to sum the values. This can be done manually or using a PivotTable to list unique dates.

Step 3: Use SUMIFS Function

1. Next to your unique month-year list, use the SUMIFS function to sum values by month. In cell F2 (next to the first month-year in Column E), enter the formula:

=SUMIFS(B:B, C:C, E2)

1. Drag this formula down to apply it to all listed months.

👉Purchase our book to improve your Excel productivity

Example

Suppose you have a dataset of sales transactions spanning multiple months, and you need to calculate the total sales for each month.

Dataset:

• A1: "Date"
• B1: "Sales"
• Dates in "A2:A31" for January, "A32:A59" for February, etc.
• Corresponding sales figures in "B2:B31" for January, "B32:B59" for February, etc.

Calculating Monthly Sums:

1. In C1, label the column as "Month-Year".
2. In C2, input =TEXT(A2, "mmm-yyyy") and drag down to convert all dates to month-year format.
3. In E1, type "Unique Months" and list each month of interest from January to December under it (E2:E13).
4. In F1, label the column as "Total Sales".
5. In F2, use =SUMIFS(B:B, C:C, E2) and drag down through F13 to calculate total sales for each month listed in E2:E13.

Advanced Tips

• Dynamic Unique Months List: Use a PivotTable or the unique array formulas (UNIQUE function in Excel 365) to dynamically generate a list of unique months, which updates as you add new data.
• Automate with Table References: Convert your data range into a Table (Ctrl + T). This way, when you add new data, formulas referencing the Table range will automatically include the new data.
• Combine with PivotTables: For a more visual summary, use PivotTables. Group your data by date and then by month within the PivotTable for an interactive monthly summary.
• Error Checking: Ensure your date formats are consistent and recognized by Excel to avoid errors in summing by month.👉Purchase our book to improve your Excel productivity :

📚102 Most Useful Excel Functions with Examples: The Ultimate Guide

▶️▶️ Order it here : https://lnkd.in/enmdA8hq

🚀 Transform from novice to pro with:

🔍 Step-by-Step Guides

🖼️ Clear Screenshots

🌎 Real-World Examples

📔 Downloadable Practice Workbooks

💡 Advanced Tips

💡Newsletters that might interest you :

➡️Leadership - Daily inspiration

➡️Motivation - Daily Inspiration

➡️Challenge Yourself Everyday

➡️Chase Happiness: Daily Triumph

➡️Simplify to Illuminate Mind

➡️Daily Habits for Health

➡️Peaceful Paths Mindful Morning

➡️Passion Path Daily Insights

➡️Love Notes Daily Digest

➡️Zen Pulse: Mindful Living