Why Not Just Use Excel To Manager My Accounts?
No reason at all! Any spreadsheet application can be the perfect tool for capturing and analysing:
- Budgets – to compare and contrast the planned outcome of your budget against the actual outcome, this is often done using multiple spreadsheets. This is how you can pinpoint problem areas early and modify your budget accordingly.
- Cash Flows – this gives you the ability to monitor income and expenditure on a regular basis. You can also use spreadsheets to balance your books and for cash accounting, giving a clear picture with a relatively low margin of error.
- The Future – effective tools for planning, spreadsheets can be handy tools for forecasting profits as well as the overall performance of your company. By keeping monthly forecasts on record, at the end of the year you will have an informative view of your business performance when compared to what you forecasted.
- Not Just Money – spreadsheets are not just limited to monetary records. They can be an extremely effective tool to monitor and record things like employee performance because they are one of the most effective ways to not just collect different kinds of data, but also to analyse and compare as well.
There’s a really big BUT coming!
Don’t you have enough to do? (see picture below)
With every other role that you need to play in your business at one time or another, why commit to becoming an accounts expert?
Ideally you have two roles only to play in your business long term. One, is to be responsible for overseeing and guiding the business to success by making strategic long-term decisions. These strategies are based on analysing data from all aspects of your business, hopefully provided to you so that you can spend your precious time and expertise creating plans of action that address relevant issues while improving the bottom-line whenever possible. Or, two – you are the expert, the raison d’être why you are operating in that market place AT ALL. If your market place is not accounting, then you are denying your business one of the true sources of competitive advantage that is has – YOU.
Sometimes, being a great business owner is about letting someone else do something better than you. Let an expert take care of your numbers, and help your business to flourish.
Is This Your Job Description
[...] PDRTJS_settings_804535_post_106 = { "id" : "804535", "unique_id" : "wp-post-106", "title" : "Why+Not+Just+Use+Excel+To+Manager+My+Accounts%3F+%28via+Helping+Your+Numbers+Flourish%29", "item_id" : "_post_106", "permalink" : "http%3A%2F%2Fsomanews.wordpress.com%2F2010%2F06%2F12%2Fwhy-not-just-use-excel-to-manager-my-accounts-via-helping-your-numbers-flourish%2F" } Wow, I could not have said this better.I know as a professional bookkeeper I am always trying to get small business owners to realize this. No reason at all! Any spreadsheet application can be the perfect tool for capturing and analysing: Budgets – to compare and contrast the planned outcome of your budget against the actual outcome, this is often done using multiple spreadsheets. This is how you can pinpoint problem areas early and modify your budget accordingly. Cash Flows – this gives you the ability to monitor income and expenditure on a regular basis. You can also use spreadsh … Read More [...]