Why You Should Stop Using Spreadsheets for Bookkeeping

Why You Should Stop Using Spreadsheets for Bookkeeping

Microsoft Excel is a fantastic resource. Far more than just a simple spreadsheet, macros can be added to accomplish everything from creating graphs to even playing Monopoly (yes, really). Many businesses also utilize Excel for bookkeeping, though we must caution you before committing such an important task to this resource. Although it’s possible to export your information from Excel directly over to your QuickBooks software, Microsoft Excel was not designed to function as a primary accounting software. At TheOfficeSquad, we understand that streamlined and simple can instantly become chaotic and confusing when small mistakes are made. Here are our top three reasons why you should not use Excel for your business bookkeeping:

  1. Time Consuming

    Are you an Excel wizard? Then you know that even the most conceptually basic tasks can involve great deal of time. Just the task of building macros eats up more time than you have to spare. Other software designed specifically for accounting can exponentially cut down on this workload without increase inaccuracies.

  2. Limited Scalability

    Because Excel was not designed as a primary accounting tool for bookkeeping, it’s unable to keep up with your growing business. Your accounting tasks involve more than just bookkeeping and Excel won’t be able to deliver as well as a specialized bookkeeping software. It’s also very difficult for Excel to help you accurately predict cashflow projections, a projection that is an absolute necessity for all business owners.

  3. Easy Errors

    Excel is a fantastic tool that even children can use successfully. However, easy errors can be made which will instantly disrupt your bookkeeping. What’s worse is that, depending on how you use your Excel program for bookkeeping, you may not be able to easily identify these errors. Just think, one mistaken keystroke could result in hours of work that you don’t need on your plate.

Outsource Your Bookkeeping to TheOfficeSquad

Trust us, Excel isn’t the only software that can cause errors in your bookkeeping. In fact, there are plenty of SNAFUs made in QuickBooks by even the most experienced business owners. At TheOfficeSquad, we’re ready to take over a variety of administrative and accounting duties, so you can focus on growing your business. Contact us today to learn more about our bookkeeping and other services.