Using Excel Sumif with Multiple Criteria
(pre Excel 2007)

To follow this example type the following data starting in A1 and using a separate column for each field.

We are going to calculate the sum of balance in current accounts held at the Brighton branch. 

To give you an idea of how array formulas work we will start off by performing a single criteria sum by using a combination of an If function and Sum function. A SUMIF function would perform the same calculation.

In cell E1 type the following formula =SUM(IF(A2:A12="brighton",C2:C12,0)), but use CTRL, SHIFT, ENTER to confirm the formula.  This will put brace brackets around your formula like this: {=SUM(IF(A2:A12="brighton",C2:C12,0))}.  The brace brackets indicate an array formula. This formula calculates that there is £921,252 held at the Brighton branch.

So how do we consider multiple criteria?  Well we need to nest another IF statement inside our current one so that we only up the values if both criteria are true. 

Here is the formula: {=SUM(IF(A2:A12="brighton",IF(B2:B12="current",C2:C12,0),0))}