7 Dangers of Using Excel Accounting System For Your Business

Many a time, I meet business owners who seem to be very comfortable working with Microsoft excel when recording their daily business transactions.

Moreover, I hear them say something like this:

I do not need accounting software because my accountant is already using Microsoft Excel and I am very comfortable with the report he sends to him.

If you are one of person who uses this statement to shy away from computerized accounting software, here are 7 dangers you are exposing your business accounting system to:

•If you make an error in your formula, every single calculation done on that spreadsheet will be wrong.

•If you do something wrong then you might have to do the spreadsheet all over again.

•If you do not know what formula should be used, and you use the wrong one, error messages will show and it can take you a long time to figure out what one should be used.

•If you are not familiar with spreadsheets, it can take a long time to adjust to all the formulas, which is very hard.

•Spreadsheets are restricted to a limited number of records.

•May require a large amount of hard-drive space for data storage.

•Cannot create reports like databases.

 

If you are looking for a reliable accounting solution to get started in switching from Excel Accounting, put a call across to a consultant on 09092942048, 08175420054 or SEND us your request: info@magnetgroupng.com. 

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