There is an argument that accounting packages aren’t as good as Excel spreadsheets to manage your finances. Although Excel can be customised to a way that could work for you, there are multiple reasons why softwares like Simplebks – ranks supreme over the Excel spreadsheet method.
EASE OF USE
A Microsoft Excel spreadsheet is basically a blank slate on which you can store important financial figures. You can type in any numbers and use simple calculations to create the figures you want to tally. However, if you aren’t an Excel expert, then you won’t know how to tabulate your finances.
A safer option is to use accounting software, like Simplebks. This more powerful software is just as easy to use as an Excel spreadsheet, with an added benefit of autogenerated financial report. When using this accounting software, you don’t need an accounting degree to keep your books.
VISIBILITY TO YOUR ECONOMIC HEALTH
Your financials may seem easy to track in Excel at start-up, but after years of experience, you begin to generate a much larger volume of figures.
Tracking and analysing important financial data becomes harder and more time consuming. With accounting software, it can provide you with balance sheets, income statements, profit/loss statements and reports on your products or services. A few clicks of the mouse and you can share reports with financiers or review the data that you need to make the quick business decisions that drive business.
IMPROVE PRODUCTIVITY AND PROFITABILITY
Accounting software can offer visibility into business operations that can improve productivity and profitability. Learn what products or services are your most profitable, streamline operations, and keep on track with your strategic goals. Excel simply can’t provide this type of insight.
5 REASONS TO USE ACCOUNTING SOFTWARE VS SPREADSHEETS.
HIT THE GROUND RUNNING
An easy-to-use dashboard is one that you don’t have to set up yourself and it will give you confidence from the get go. When you have a clear financial view from the start, you don’t need to worry about making uninformed business decisions.
YOUR DATA IS ACCURATE
Your company’s real-time financial data is kept in one central place – online, in the cloud. Bank statement lines are fed into your software – it’s automatic, and reduces the amount of data entry and potential mistakes.
Create the information any of your employees might need at a moment’s notice. Your business will be equipped to manage its finances better and more accurately. This is especially important around tax time when data will be shared. Financial tax information is always up-to-date and ready to share.
Excel is a great program for storing small amounts of simple data and it can provide basic levels of accounting functions. As your business grows and you have more data to track and monitor, you’ll find greater productivity and profitability with an accounting software solution.
Simplebks is an accounting tool that helps you record and keep track of every aspect of your business, on the go, in real-time and from anywhere in the world. Effectively and accurately keeps record of your data today, try Simplebks.