Excel Is Not The Solution For Your Small Business Account
Excel has made it possible for small businesses to incorporate business and non-profit banking as well as financial management, but very few small businesses will bother with Excel. Why? There are many reasons and we’ll discuss three of them here.
o Excel is expensive to use: Most small businesses who are contemplating making the switch to using a software application like Excel, wonder why they need the program. The answer is very simple.
To create a small business account, you first have to hire a tax accountant or a financial adviser who can do the work for you. These services can be very expensive.
The best solution is to use a spreadsheet which includes the functions to create and open small business accounts. Also, with this spreadsheet you can work in the spreadsheet from the comfort of your own home.
o Excel is difficult to learn: Although Excel is an incredibly powerful tool, it is also a very difficult program to learn. People wonder why most small businesses do not use Excel.
The reason is that on a personal computer, an Excel spreadsheet will take up a lot of memory and can slow down your machine considerably. While you can download a small business account template from the Internet, this software will cost you thousands of dollars and usually is a lot of code which is only a collection of instructions.
Also, most commercial software is designed for large corporations and businesses that have to support thousands of clients and hundreds of employees. This means that their systems are set up to handle the accounting, marketing, production and operations for your small business account.
Most small businesses cannot afford to buy their own spreadsheet. However, there are spreadsheet software packages available which are very affordable and are better than what is available on the market.
o Excel is difficult to design: When using Excel to manage your small business account, you have to remember to add in your vendor, sales tax, bank statements, income tax, rental properties, inventory and a host of other items. Not to mention that Excel is supposed to be an “office suite” which is supposed to be easy to use, correct, and organized.
You will be forced to work with an application that has some of the basic features of Excel but that are difficult to learn, use and organize. In addition, Excel is not only difficult to learn but it is also difficult to manage.
A small business account can certainly save your company hundreds of thousands of dollars each year. Start working with a spreadsheet. PLEASE LOOK : small business accounting templates in excel
