Notes

Three types of accounting worksheets that can benefit from the use of the IF function are sales worksheets, fixed assets worksheets, and tax worksheets. Sales worksheets determine what types of sales were made during that period and how much was profited, when the sale was made if the payment was paid, and when it is due. The fixed asset worksheet contains the fixed assets the company has and how much it is work with annual depreciation calculated as the years pass. The tax worksheet includes the income made that year and based on the income level, we can use the income tax bracket to determine how much tax is owed that year. The IF function is very beneficial to accounting worksheets because it allows accountants to give an automatic calculation for a conditional formula. For a sales worksheet, it can be used to determine whether a sale has received payment or not and can also use conditional formatting to highlight sales that have yet to receive payment. For a fixed asset worksheet, it can be used to determine the value of the asset and determine if an asset still has salvage value. For a tax worksheet, it can help determine how much tax is owed through the income made during that year using different bracket percentages. For example, an income year of $100,000 can have a significantly different tax percentage compared to $30,000 income made.