Microsoft will be dropping several features in Excel. In 2020, the company introduced Money in Excel, which allowed users to connect their financial data to Excel sheets. However, this is one of the features that will be discontinued, along with other Microsoft 365 features.
Money in Excel
Money in Excel is a dynamic template and add-in for Excel that connects financial accounts, like banks, credit cards, investments, and loans. Data could be synced with an Excel sheet in one click that could be turned into graphs, charts, and tables.
It's safe to say that the Money feature in Excel is a valuable financial planning tool as it makes the process a whole lot easier.
However, Microsoft confirmed that Money will be shut down on June 30, 2023.
"We've learned a lot from Money in Excel and appreciate the many needs people have for their families and their money. We believe there are other areas where we can have a greater impact and will be focusing on those going forward," the company said.
The data stored in Money won't be deleted, so users don't need to panic. After June 2023, it will be impossible to import new transactions and other data to it.
Microsoft recommends Tiller as an alternative that will allow users to import financial data into Excel. Moreover, Microsoft 365 subscribers can claim an extended 60-day trial of Tiller and after that, users should pay $79 per year.
Additionally, Microsoft 365 users will get exclusive access to their premium budget templates that can be used also as an alternative to Money in Excel.
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Wolfram
Another feature that Microsoft will discontinue is the Wolfram data type, which was also introduced in 2020. Wolfram allows Excel users to import stocks, nutritional information, and data from Wolfram Alpha.
The data will not be removed here once it's officially shut down, but users won't be able to add new Wolfram data types or refresh existing data anymore by then.
Partner Benefits
Aside from these features, Microsoft will also discontinue its partner benefits. These benefits allow Microsoft 365 users to get discounts on certain Microsoft products. Users can still redeem discounts and other eligible offers by June 30, 2023.
On their FAQs page, the company said that they are "looking for new ways to deliver" consistent value and they will explore other areas where they can do this and focus on them moving forward.
Microsoft didn't specify the reason they're getting rid of these features. The email the company sent to some Microsoft 365 subscribers also didn't fully explain the reason for its decision to cut these features. However, as noted by XDA developers, the email said that Microsoft "will occasionally remove underused features and benefits."
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Written by April Fowell
