Some argue that off the shelf accounting packages aren’t as good as Excel spreadsheets to manage your finances. Although Excel can be customized to a way that could work for you, there are multiple reasons why software ranks supreme over the Excel spreadsheet method.
- Ease of use: A Microsoft Excel spreadsheet is basically a blank slate on which you can store important financial figures. You can type in any numbers and use rudimentary calculations to create the figures you want to tally. However, if you aren’t an Excel expert, then you won’t know how to tabulate your finances. A safer option is to use accounting software, like Microsoft Dynamics® GP. This more powerful software is just as easy to use as an Excel spreadsheet, with an added benefit of built-in analysis and automating features. You don’t need an accounting degree to keep your books when using Microsoft Dynamics GP.
- Visibility into your fiscal health: Your financials may seem easy to track in Excel at start-up, but after years of experience, you begin to generate a much larger volume of figures. Tracking and analyzing important financial data becomes harder and more time consuming. With Microsoft Dynamics GP, you have built-in analysis and reporting features that can provide you with balance sheets, income statements, profit/loss statements, and reports on your products or services. A few clicks of the mouse and you can share reports with regulatory agencies or review the data that you need to make the quick business decisions that drive business.
- Improve productivity and profitability: Microsoft Dynamics GP can offer visibility into business operations that can improve productivity and profitability. Monitor supply chain, manufacturing operations, project or services management, human resources, and other business elements in this single software platform. Learn what products or services are your most profitable, streamline operations, and keep on track with your strategic goals. Excel simply can’t provide this type of insight.
Excel is a great program for storing small amounts of simple data and it can provide basic levels of accounting functions. As your business grows and you have more data to track and monitor, you’ll find greater productivity and profitability with a more comprehensive software solution like Microsoft Dynamics GP. Please contact CFO Consulting for more information about Microsoft Dynamics GP or other accounting software options that can improve your bottom line more effectively than Excel spreadsheets.
By InterDyn – CFO Consulting, a Gold Certified Microsoft Partner out of Florida