Many argue that any accounting software available in the market is far more superior and better than excel bookkeeping spreadsheet. However, the truth is that excel is a better and easier way to organize the books as compared to any software. Especially for start-ups and small businesses on a budget. Most people also find the idea of using an alienated software they’ve never heard about extremely difficult to get their heads round and usually end up spending even more time and money to get the relevant training and expertise needed to get this up and running properly.
So below are a few advantages of why using Excel Bookkeeping Spreadsheets can benefit your business and save it thousands of cash and stress.
Over 99.9% of every computer already has Excel installed in it. So you don’t need to pay for any annual software license or monthly charges to keep it running. Also the percentage of people who are unaware of excel, is very less. Thus, the basic training on using excel bookkeeping spreadsheet is easy and pretty much self-explanatory.
There are many companies which offer ‘excel bookkeeping spreadsheet software’ with many in-built formula and macros. This makes the process of adding payables, assets, liability, trial balance, inventory and other elements in the sheet, easy. Moreover, the trial balance and the balance sheet can also be generated and analysed easily with the help of the templates provided by the companies.
Beyond the templates and formula created by the companies, the user can add any changes or new formula to the ‘excel bookkeeping spreadsheet’ easily. With little knowledge of the formula usage in excel, one could control one’s spreadsheet and can perform complex calculation in one step.
Easy to Use
The time spent on training for using the new software and hiring a separate team to look out for errors and issues is an extra burden to the company. Instead, the spreadsheet can be sent to various people and changes can be marked down by the people. Using track changes, the person who is in charge can easily review the changes.
If you think that excel is just grids, rows and columns, then you are wrong. If you want to show the data is a different manner, charts and graphs can be used. It is easy to import the excel data to other software like SPSS, for further analysis. With the help of pivot table, one can gain more detailed version of the information generated by the numbers in the grid.
Using excel bookkeeping spreadsheet is more advantageous than a costly and complex accounting software. In terms of training time, easy to use, flexibility and deep analysis, the spreadsheet is as good as any accounting software.
So where can you get bookkeeping spreadsheets?
An amazing bookkeeping spreadsheet that comes with all the formula prepared for you is the No Hassle Accounting program. It not only keeps track of your cash-flow but automatically prepares your financial statements for you as well as your year end tax return.
The No Hassle Accounting program is the perfect solution to every start-ups bookkeeping problem and any business looking for an easy to use straightforward system in place for your business. You can get it at a one of fee of only £39.99 and get your financials sorted out for you for LIFE.