OpenAI just launched ChatGPT as an Excel add-in. You describe what you need in plain English, and it builds, updates, or analyses your spreadsheet directly inside the workbook. Here is how to set it up and what to use it for.
What You'll Need
A ChatGPT subscription (Business, Enterprise, Edu, Pro, or Plus outside the EU)
Microsoft Excel (desktop or web)
The ChatGPT for Excel add-in from the Microsoft Marketplace
Step 1: Install the Add-In
ChatGPT is also on the Microsoft Marketplace
Open Excel and go to the Insert tab. Click "Get Add-ins" and search for "ChatGPT." Install the official OpenAI add-in.
Once installed, you will see a ChatGPT panel on the right side of your workbook. Sign in with your OpenAI account.
Step 2: Start a Conversation With Your Spreadsheet
With the panel open, you can start typing requests in plain language. ChatGPT reads your cells, formulas, tabs, and structure. It works directly in the workbook, not in a separate window.
Try this:
Create a monthly budget tracker with columns for category, budgeted amount, actual spend, and variance. Add rows for rent, utilities, marketing, salaries, and software subscriptions. Include a total row with SUM formulas.ChatGPT builds the spreadsheet, adds the formulas, and formats it. You can then edit normally or ask it to adjust.
Step 3: Update and Analyse Existing Spreadsheets
You do not need to start from scratch. Open any existing workbook and ask ChatGPT to work with what is already there.
Try these prompts:
Add a column that calculates the percentage change between this month and last month for each rowSummarise the key numbers from the Sales tab in a new summary sheetFind any cells with errors and explain what is causing themCreate a pivot-style breakdown of revenue by region from the data in Sheet1Customisation: reference specific tabs, columns, or cell ranges in your prompts. The more specific you are about where the data is, the better the results.
Step 4: Run Scenarios and What-If Analysis
ChatGPT can help you model different outcomes without manually rebuilding formulas.
Try this:
Using my current budget, show me what happens if marketing spend increases by 20% and revenue stays flat. Create a new tab called Scenario 2 with the adjusted numbers.If we hire two more people at £45,000 each, what does that do to our monthly burn rate? Update the headcount row and recalculate the totals.This is useful for board prep, investor updates, or simply understanding how changes affect your bottom line.
Step 5: Pull Financial Data (For Finance Teams)
OpenAI added integrations with FactSet, Dow Jones Factiva, LSEG, Daloopa, and S&P Global. You can pull trusted financial data directly from ChatGPT.
Try this script:
Pull the latest quarterly revenue figures for Apple, Microsoft, and Google from FactSet and add them to a comparison table in a new tabShow me the P/E ratio trend for Tesla over the last 8 quarters using LSEG dataNote: Financial data integrations are available within ChatGPT (not directly in the Excel add-in). You can generate the data in ChatGPT and push it into your workbook, or copy the structured output into Excel.
Step 6: Get Explanations and Fix Errors
If you inherit a spreadsheet with complex formulas, ChatGPT can explain what they do and fix issues.
Try this:
Explain what the formula in cell D14 does in plain EnglishI'm getting a #REF! error in the Forecast tab. Find what is causing it and fix it.Simplify the nested IF formula in column E so it is easier to understand and maintainThis is especially useful when working with spreadsheets built by someone else, or when revisiting models you built months ago.
Real-World Applications
Finance and Accounting
Build financial models, run scenario analysis, and pull market data without switching between tools. Useful for budgeting, forecasting, and investor reporting.
Sales and Operations
Create pipeline trackers, commission calculators, and inventory reports from plain language descriptions. Update them weekly by asking ChatGPT to refresh the numbers from a data source.
Marketing
Track campaign spend, calculate ROI across channels, and build comparison tables. Ask ChatGPT to summarise performance across tabs and highlight what changed.
Small Business Owners
Build budgets, invoices, and expense trackers without knowing Excel formulas. Describe what you need and let ChatGPT handle the structure and calculations.
Next Steps
Start with something you already have. Open a spreadsheet you use regularly and ask ChatGPT to improve it. Add a summary, fix a formula, or create a new view of the data.
Start with these prompts:
Look at this spreadsheet and suggest three improvements to the structure or formulasCreate a dashboard tab that summarises the key numbers from all other tabs in this workbookBuild a monthly P&L template with revenue, cost of goods, operating expenses, and net income. Include formulas for gross margin and net margin percentages.