How to Make an Estimate in Excel

The best way to make a financial estimation is knowing most of the information about the task. Let's say you want to start a new enterprise, for example.

Collect the results of the estimate in the table

Create a new spreadsheet in Excel and label the first row with the following headers. Enter the items that you want to estimate in the column.

estimate calculator data table


How to make an estimate sheet?

1. Click under total (1), and type =B5*C5, then press enter.

estimate calculator multiply


2. Click twice on the small square.

estimate calculator double click small square

3. To calculate the grand total for all items, use the SUM function to sum the values in the Total Estimation row.

Click on the last cell, and type =SUM(D5:D15), then press enter. Note: Now click CTRL + B (bold).

estimate calculator sum


In conclusion, we have estimated the cost of starting a new business. Estimation is about assessing how much you think it will cost to do certain things. It can be the cost of materials and equipment, or other things. Whatever it is, just replace the components in column A with those things relevant to that thing.

You can modify the spreadsheet as needed for your specific requirements, such as adding formulas to calculate taxes, shipping costs, or material costs.