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Where Thought Leaders go for Growth
When we want to create a business, we pay attention to costs - particularly at the start of the activity, when the budget is limited. To manage their accounts, new entrepreneurs like already operating VSBs often use Excel. This spreadsheet is quick in uptake and easy to use, but it isn't really adapted for accounting, and in the development phase of the work, its limits are quickly exposed.
In order to have a reliable and functional accounting system on Excel, you need to first get to know this software well. In truth, a basic understanding of the spreadsheet won't be enough to properly manage your company, especially since you will have to consider the following from the start:
Additionally, to properly manage your business and accounting activities through Excel, you will also need to think about all of the users and their specific needs - firstly, your certified accountant of course, but also your (future) employees. Everyone will want access to particular information in order to complete their tasks. Using Excel then involves an important implementation phase. For your accounting management with Excel to be at least functional, you will need:
So that Excel remains functional and adapts to your developments, you need to also think about the software development possibilities. Thus, it would be more appropriate to create evolving drop-down lists for the categories and payments. You will then need to manage this aspect of the office suite, without forgetting of course a sound knowledge of calculation formulas...
The implementation of Excel as a management tool for your work will take time. Its daily use will take even more. Whether it is used to generate a quote, a bill or to enter accountancy lines, the number of necessary steps will be substantial. Thus, if we take the concrete example of bill management in Excel, you will have to:
The process is tedious and necessary for every client. The risk of errors is clearly great, whether that's in the information entry or the calculation formulas... As a management software, Excel reaches its limits very quickly in this situation.