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NOTE: If you are still using Excel 97 in 2006, then you should think about upgrading!!!! Unfortunately several releases of Microsoft Excel 97 contain a very serious recalculation error. This error can cause the calculations in Microfin to be off by as much as $1,000,000! This error does not exist in Excel 5 or Excel 95. Detecting the Excel 97 recalc errorWe have taken several precautions in the design of Microfin to avoid serious errors due to this problem. First, when you first open Microfin, it runs a test to determine which version of Excel is running. The following chart indicates the many versions of Excel 97 that currently exist:
If your version of Excel contains the recalc error, a warning message is posted on the screen. You may still work with Microfin, but you should be very cautious about the results. The recalculation error will occur sporatically. Microfin contains a second test which can detect many (but not all) of these recurrences. After each recalculation, Microfin checks to make sure the Balance Sheet still balances in every month. If there is an error, a message is posted on the screen. This imbalance may be due to the Excel 97 recalculation error. Updating Excel 97Should you have a version of Excel 97 with the recalc error, you should update your software as soon as possible. If you have a version of Excel 97 with the SR-1 update already installed, you can use the XL8P3.EXE file to correct the recalc problem. This is a small file (43K) that must be run with Excel closed. Click here to download the XL8P3.EXE file. If you do not have the SR-1 Update, you need to first install this update. The SR-1 update is quite large -- approximately 7 megabytes. In addition there are different versions of the update file for different language versions of Excel. The SR-1 update can be downloaded from the Microsoft website. A temporary alternative to fixing the recalc errorIf you are not able to update your version of Excel 97, there is an alternative approach that will allow you to continue working with reliable results. Excel 97 speeds up recalculation by only recalculating cells which draw from other cells in which the contents have changed since the last recalculation. The recalc problem stems from an error in the logic that determines which cells need to recalculate. To ensure accurate recalculation you can simultaneously hit CTRL-ALT-F9. This will force all cells in the worksheet to recalculate and thus provide accurate results. |
This website is managed by Chuck Waterfield. If you have any questions or comments about the website, please email waterfield@microfin.com |
