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Using a pivot table calculated field is essential for incorporating formulas within Excel pivot tables. This tutorial demonstrates how to use these formulas to generate a spreadsheet that displays both profit and profit percentage. Simon, a real-life Excel trainer, presents the eighth tutorial in a series focused on Excel accounts. He explains that, currently, the pivot table only shows the sum of the amounts received, and he intends to show how to calculate the profit from this data. For viewers who haven't followed the previous tutorials, links to the starter and completed files, as well as the supporting webpage, will be provided to facilitate learning.