Switch from Excel to a True Dedicated Accounting Application
Everyone (or almost everyone) uses Excel. It’s a great versatile tool. Free or almost, accessible and at first glance easy to handle. Small companies often prefer the Excel software. However, multiplying tables has its limits and with the growth of your business, you probably want a tool better suited to your needs. Finally, it may be time to think about a computer application dedicated to accounting.
Excel is not the best accounting application for your business
The input time is long
Using Excel involves first entering the accounting and banking data by hand. Entering data is always tedious for most business leaders. Since there is no a priori monitoring tool, human error in accounting can go undetected and cause problems.
More worrying: anyone with access to your file can change the contents of calculation formulas. It is therefore very difficult to find who modifies what and a fraud or an involuntary error can be complicated to spot.
The tool is complex
Excel is a more complex tool than it seems. Many small businesses forget that Excel is accessible and used by everyone but it is a complex software that has its own programming language. Mastering this language takes time and therefore involves training that the user does not always have and of which he is not necessarily aware.
Also, setting up a table that matches your exact needs requires time and some preparation upstream. An operation that will have to start again each time you want to modify an aspect of your management. The growth of your business may require you to constantly change the settings of your tables.
The more important your changes will be; the more time you spend, the more your risks will increase. Finally, transactions saved in Excel are hard to follow. Why ? Because the software does not recognize double entries and instead of helping you manage your business, it can make it difficult to visualize your data.
The information is stored in Excel but often; it seems that they are blocked there, that it lacks legibility! Free up your accounting data with a dedicated application that gives you better visualization and helps you decide.
The interests of an accounting application for your management
Greater ease of use
An accounting application, especially if it is based on the cloud; is designed to be scalable, profitable and adapt to the needs of your company. It gathers all your data and is responsible for crossing the information for you.
Balance, income statement and other tables become accessible in one click. The application is responsible for providing all the necessary tools to prepare the management reports of your activity. No need to wait until the end of the month or spend hours filling out VAT returns, a few minutes are enough.
A better overview
The application prevents voluntary or unintentional changes to the settings. You are sure to always have accurate data. Everything about the finances of your company is accessible in the cloud , your bank statements arrive directly in your application. This is automatic and the risk of errors as well as the amount of data to enter manually are minimized.
A cloud-based accounting application is a tool that is always available. Your data is accessible whenever you want and saved every night on separate, highly secure servers. With cloud backup you will not have to worry about problems, sometimes expensive, storage space.
Sharing information is simplified
You can have unlimited users while controlling their access to information. Thus, you make sure that your sensitive data does not circulate freely. Your data is accessible anywhere, anytime, so you can easily share your financial information with your employees, accountants or financial advisors.
In addition, you have a clear and precise history of all actions performed. Your data can not compromise, a document is registered for each of your transactions: sales, employee payments and more.
The development of your company is tenfold
An easy-to-use dashboard is a ready-to-use board that you will not need to modify yourself. With a clear view of your financial activity, you do not have to worry about making misinformed decisions.
If you can not find your daily management easy and fast to manage on Excel, then it is time to think of an alternative.
It is sometimes difficult to change your management habits and accept change, but the game is worth it. Excel is simply not designed to replace an accounting application. Give your business the means to grow and succeed without restrictions.