For so many businesses, when they start up, they turn to Excel as a way of managing their bookkeeping and accounts.
It is understandable as in the beginning, money can be in short supply and business priorities can be more focused in other directions. But is it bad to use Excel for Bookkeeping?
Yes and no is the answer.
Yes in that there are a lot of far better options out their to help you with your bookkeeping and no because, if done properly, Excel can still be an invaluable way of managing your bookkeeping.
Most people are familiar with Excel. After all, it has been with us for a very long time and is used by businesses for a lot more than just accounting.
When you are a one many band, excel can fit the bill quite nicely. But it can be difficult to grow your business and still rely on Excel. There are templates of course that can help you expand the functionality of Excel but you are simply expanding a spreadsheet whereas databases and cloud based software can have almost limitless potential in comparison.
How we can use Excel
We can use Excel for many different applications across our bookkeeping services. We can use it to enter and categorise transactions, track invoices and so much more. We use excel to store financial data such as sales, revenue, purchases etc and with the functionality of formulae and macros in place it can be used to calculate and present data in the form of charts and graphs as a great way of bookkeeping reporting for our clients.
We have over 17 years’ experience of working with small and medium sized businesses across every industry sector and with every software including Excel.
We know that every business is different, which is why we will always take the time to get to know your business and to shape our service accordingly.
We are Momentum Bookkeeping and our goal is to make running your business easier. Whether it’s getting paid by your customers on time, completing your VAT returns or processing payroll; the demands on businesses can seem endless.
Let us handle your bookkeeping needs so that you can focus on running your business and gain some real momentum.
While you may not love bookkeeping, we do. So whether you have a question about one of our bookkeeping services or you want to discuss a tailored service to suit what you need to get on with running your business, our door is always open.
Call or email us and lets start to build some momentum in your business.
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