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Automating Financial Statements with Power BI

90 Minutes

July 25, 2024

01:00 PM EST

Live Webinar


In this presentation, author and Excel expert David H. Ringstrom, CPA, will introduce participants to creating financial statements with Power BI on an introductory level. David will use trial balance and chart of accounts reports from QuickBooks Online as sample materials for concepts that can be applied to any accounting software. He'll discuss common stumbling blocks that accounting reports can cause, as well as how to create self-updating financial statements by connecting Power BI to a folder of reports. You'll see how to transform trial balance reports into the basis for creating an income statement with a Power BI matrix. Additionally, David will demonstrate the Power BI matrix drill down/drill up feature, providing valuable insights into data analysis and visualization. Don't miss this opportunity to enhance your analytical skills and improve your financial reporting capabilities.

David is the author of “Exploring Microsoft Excel's Hidden Treasures: Turbocharge your Excel proficiency with expert tips, automation techniques, and overlooked features”. He demonstrates every technique at least twice: first, on a PowerPoint slide with numbered steps, and second, in the subscription-based Excel for Microsoft 365. David draws your attention to any differences in Excel 2021, 2019 or 2016 during the presentation and in his detailed handouts. The handouts include an Excel workbook with most of the examples he uses during his demonstrations.

Excel for Microsoft 365 is a subscription-based product that receives periodic feature updates. Conversely, perpetually licensed versions have year numbers in their names and do not receive any feature updates.

Areas Covered

·      Exporting a monthly trial balance report from QuickBooks Online.

·      Connecting Power BI to a folder so that you can add new monthly reports to for automatic import.

·      Exporting the Chart of Accounts report from QuickBooks Online.

·      Transforming trial balance reports into analysis-ready formats.

·      Drilling down and drilling up in a Power BI matrix (equivalent to a PivotTable in Excel).

·      Understanding simple stumbling blocks that can cause Power Query to ignore numeric values within financial reports.

·      State what the equivalent of a PivotTable in Microsoft Excel is within Power BI.

·      Name the natural language tool in Power BI that enables you to create visualizations by way of written questions or search terms.

·      State which Power BI task pane enables you to add features to a report.

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David H. Ringstrom's Avatar

David H. Ringstrom

Microsoft Excel Expert

Acclaimed Microsoft Excel expert David H. Ringstrom, CPA, is the president and owner of Accounting Advisors, Inc. based in Atlanta, Georgia. David founded Accounting Advisors in 1991 as a consulting-services business, but in 2009, he began teaching for continuing education providers as well. His mission since then has been to offer quality training on Excel and additional accounting software via live webcasts, on-demand self-study webcasts, and in-house engagements. More than 24 providers, located throughout the country as well as overseas, now look to David for their Excel and accounting software training needs. David’s Excel courses cover the gamut of the software’s features and functions to provide CPAs as well as accounting and financial professionals the knowledge they need to work more efficiently and effectively in Excel. David is known for saying, “Either you work Excel, or it works you.” Based on this belief, he focuses on teaching users what they don’t know but should know about Excel. His comprehensive yet easy to understand presentations cover Excel 2016, 2013, 2010, and 2007. David’s webcasts are fast paced, and he welcomes attendees’ questions. In addition, his detailed handouts and slides serve as handy reference tools students can fall back on after participating in his webcasts or taking his self-study courses.