Sabine N Konig. Spreadsheet Templates. February 07th , 2018.
In an earlier article Accounting Software - are accounting spreadsheets the answer for small businessesI examined the basic requirements for small business accounting. I concluded that provided good control mechanisms were in place, then a well-designed accounting spreadsheet could be the answer for many small businesses.
Accounting Software So, the obvious choice must be to use accounting software. Here, you only need to record your transactions once and all the corresponding entries are performed automatically. This enables you to maintain a check on your customers and suppliers, VAT is dealt with automatically and most systems will prepare a number of useful accounting reports.
The first in this series of four articles was How To Create Brilliant Spreadsheet- Planning Vs Implementing The 80/20 Split.
Secondly, Small Business Accounting Software is usually designed with a one size fits all philosophy, and in an attempt to match the softwares functionality with your requirements, the developers compensate by having complicated set up routines. Great, if you understand what you are doing, but potentially disastrous if you get it wrong. So, it is essential that you obtain professional help to minimise these problems. This again increases your costs.
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