AI Excel tools for formula generation

Best AI Excel tools for formula generation

AI tools for formula generation help finance teams generate accurate Excel formulas. They reduce time spent on manual entry, minimize errors, and simplify complex calculations.

There are many AI tools built for Excel, each designed to support different needs, whether that’s writing formulas, automating reports, or analyzing complex data. Choosing the right one depends on your team’s workflow, technical comfort level, and business priorities.

AI tools for Excel will help you streamline your FP&A process for speed and accuracy. You can automate repetitive tasks, giving your team more time to focus on coming up with smart strategies to grow your business performance. 

The best AI Excel tool to use is one that offers a centralized platform that not only lets you work faster in Excel, but also provides visibility into everything happening with your business data in real-time. It should let you connect all the tools you work with together.

Here are the best AI Excel tools for formula generation;

1. GPTExcel

Best for: Generating custom spreadsheet formulas and SQL queries 

GPTExcel is an AI-powered Excel formula generator that enables businesses and individuals to streamline their Excel processes. Finance leaders can use GPTExcel to generate custom formulas and automate complex financial calculations, modeling, analysis, and reporting. 

The platform also enables finance teams to generate automation scripts, such as VBA scripts for Excel, to automate and streamline repetitive tasks like data entry, validation, filtering, and building custom financial dashboards.

Features: 

• Excel formula generator AI: Generate formulas and automate complex financial analyses.

• SQL query generator: Generate, debug, and modify complex SQL queries.

• Regex generator AI: Automate data validation and filtering. 

Limitations: 

• GPTExcel limits free trial users to four requests per day

• Nontechnical users might struggle with its high learning curve

Formula Dog

Best for: Converting English prompts into Excel formulas

Formula Dog automatically turns English into Excel formulas, VBA code, regex code, and SQL. It provides explanations for transformed formulas, code, and SQL; users can also transform existing code/formulas into English.

Finance teams can use the tool to convert their spreadsheet, VBA, and regex problems into formulas and speed up financial analysis.

Features: 

• English-Excel formula: Convert text to Excel formulas. 

• MS-Excel add-on: Access the tool right inside Excel.

• Formula explanation: Get simple breakdowns of generated or existing formulas.

Limitations: 

• It sometimes generates wrong formulas.

• Users might need to combine it with ChatGPT for better accuracy.

Excelly-AI

Best for: Transforming plain texts into Excel formulas

Excelly-AI lets users upload XLS files and generate formulas using data in the files. It turns plain text into Excel formulas and also provides explanations for every formula generated. It also checks the column schema of individual spreadsheets. 

Finance teams can use Excelly AI to write more personalized prompts for spreadsheets and also integrate with Slack to perform analysis while working within Slack.

Features: 

• Text to formulas: Generate more complex formulas using text prompts. 

• VBA generator: Generate VBA scripts.

• Slack integration: Work with a team directly in Slack.

Limitations: 

• The free version has a limit of five free formulas per month.

• Performance depends on the user's skill in describing desired Excel operations, potentially excluding less articulate users.

Formulas HQ

Best for: Writing Python scripts for data cleaning and analysis 

Formulas HQ is a software platform for Excel and Google Sheets users. It offers AI-powered tools to generate formulas, VBA code, and regular expressions. 

The platform aims to simplify spreadsheet tasks, automate processes, and assist users in creating more efficient workbooks across multiple languages. Finance teams can use it to streamline financial modeling, data analysis, and reporting tasks.

Features: 

• AI-powered Excel formula generator: Creates complex Excel and Google Sheets formulas based on user input.

• VBA & apps script generator: Produces automation scripts for Excel and Google Sheets without requiring programming expertise.

• Supports multiple languages: Supports English, Spanish, French, Turkish, and Hindi

Limitations: 

• The free plan has a limit of five uses a month

• Has a steep learning curve

AI ExcelBot

Best for: Using VBA to perform tasks in Excel

AI ExcelBot enables users to generate formulas in Excel using simple text instructions. The platform offers built-in financial functions and formulas, such as ACCRINT, AMORLINC, DDB, and DISC.

FP&A teams can use this tool to automate formula generation and get simple explanations of complex formulas. AI Excelbot offers VBA code support for teams using VBA for tasks like data analysis, financial modeling, and forecasting.

Features: 

• Generate formulas: Create formulas in Excel with text prompts.

• Understand formulas: Get explanations to understand complex formulas.

• VBA code support: Use AI to write VBA for financial forecasting, modeling, etc.

Limitations: 

• Its VBA support is not comprehensive.

• The formula explanations generated might be inconsistent.

• The platform does not offer integration with other tools.

Formularizer

Best for: Generating and getting detailed breakdowns of VBA scripts 

Formularizer offers a simple platform similar to ChatGPT. It has an AI formula assistant, regex assistant, SQL assistant, and VBA assistant. Finance teams can use Formularizer to generate more accurate Excel formulas, queries, and scripts by inputting sample data from existing Excel sheets. 

Formularizer also stores all formulas users generate and provides a history that users can access at any time to compare formulas used in the past to current formulas.

Features: 

• Formula assistant: Generate and explain Excel formulas.

• SQL assistant: Generate and explain SQL queries.

• Script assistant: Generate and explain VBA scripts.

Limitations: 

• May not handle more complex formulas

• Occasionally generates inaccurate formulas

How to choose the best AI Excel tool 

Start by narrowing down the tasks you want to improve. If your team spends a lot of time building forecasts, managing large models, or analyzing trends, look for tools that support scenario planning, data modeling, and visualization. For repetitive spreadsheet work, like formula creation, data cleanup, or reporting, prioritize tools that handle those tasks with minimal input.

Consider how the tool fits into your existing workflow. Some work directly in Excel, while others require uploading files or switching between platforms. Think about whether your team needs real-time collaboration, natural language querying, or integrations with other systems you already use.

Finally, review pricing and usage limits. Ensure the tool includes the features you need and can scale with your team’s workload. Aim for a balance between functionality, ease of use, and long-term fit