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The process of summing values by month and year in Excel involves using the SUMIFS function to filter and calculate data based on a specific month and year. This allows for a more organized and comprehensive analysis of data, as it allows for the grouping of values by specific time periods. By using this function, users can easily track and compare data over multiple years and identify trends or patterns. This feature is particularly useful for financial data or any data that is time-sensitive. Overall, utilizing the SUMIFS function in Excel can greatly enhance the efficiency and accuracy of data analysis.
Excel: Sum Values by Month and Year
Often you may want to sum the values of a dataset in Excel based on month and year.
For example, suppose we have the following dataset and we’d like to sum the total sales by month and year:
The following step-by-step example shows how to do so.
Step 1: Enter the Data
First, enter the data values into Excel:
Step 2: Extract the Month and Year from Dates
Next, type the following formula into cell C2 to extract the month and year from the date in cell A2:
=TEXT(A2, "mmm yyyy")
We can then click and drag this formula down to each remaining cell in column C:
Step 3: Find the Unique Month and Year Combinations
Next, we can type the following formula into cell E2 to extract a list of unique month and year combinations:
=UNIQUE(C2:C15)
The following screenshot shows how to use this formula in practice:
Step 4: Calculate Sum by Month and Year
Next, we can type the following formula into cell F2 to calculate the sum of sales for each date in January 2022:
=SUMIF($C$2:$C$15, E2, $B$2:$B$15)
We can then click and drag this formula down to each remaining cell in column F:
From the output we can see:
- There were 33 total sales made in January 2022.
- There were 60 total sales made in May 2022.
- There were 20 total sales made in June 2022.
And so on.
Additional Resources
The following tutorials explain how to perform other common operations in Excel: