If you are still using spreadsheets to run your accounting, it’s time to consider specialized accounting and inventory software like Sage 100 or Acumatica. With these business software systems, there are options to use that data in the Excel spreadsheet format that you know. BizNet provides an efficient way to manage, manipulate, and report on Sage 100 or Acumatica data through BizNet’s interface with Excel.
Spreadsheet Limitations
Startups and growing businesses often rely on spreadsheets. They’re inexpensive and once you learn the system, easy to apply what you’ve learned.
One gigantic system
Companies who use spreadsheets to manage their financial assets know their limitations, however. Some end up with one gigantic spreadsheet to manage all asset and liability categories; others separate out each line of the balance sheet only to have to manually reconcile them monthly for the month-end report.
Human resources management
Then there’s payroll. Payroll requires tracking employee hours, salaries, and payment schedules. Federal, state, and sometimes local taxes must be tracked along with social security and Medicare payments. Add to that insurance and you’ve got yet another gigantic spreadsheet.
Data format limitations
Spreadsheets allow one bit of data per cell. If you need multiple subsections, it can be impossible to create a spreadsheet that meets your needs. You’re left with cumbersome, difficult to read and understand spreadsheets that require extra time to format and run.
The challenge, of course, is using all of those spreadsheets. Setting up some systems so that they draw data from one sheet into another can be a nightmare and often, downright impossible.
Typing mistakes
Then there’s the problem of human error. Typing information from paper reports, scribbled notes, and phone calls into a spreadsheet open it to the potential of mistakes. Even the best typist will, on occasion, make mistakes in transcription. And if you’ve ever had to track down a formula mistake in a spreadsheet, you know how one simple slip of the finger and wrong letter in a formula can mess the entire system up!
They only hold so much
Lastly, spreadsheets can only hold just so much data. They’re like a really big container that can’t expand past a certain point. Although when you start your business it may seem like you’ll never hit that limit, if your company experiences tremendous growth, you just might need more room for data. And if that happens, spreadsheets won’t work well anymore.
The answer? Moving to easy-to-use, cost-effective software for small businesses like Sage 100 or Acumatica. To keep the spreadsheet reporting that you love, add BizNet software, which makes spreadsheets manageable. BizNet harnesses the power of Excel, one of the world’s most popular spreadsheet programs, to make data both manageable and accessible. Everyone within your organization can access and use important data. BizNet leverages existing spreadsheets, offering powerful reporting features that help you gain insights into business data. You can access real-time information in Excel.
Expert Business Consulting and Software from Emerald TC
Emerald TC offers Sage, Acumatica as well as BizNet software and other fine software products to help you manage your growing business. We bring together a team of experts including consultants, CPAs, and master programmers to build business systems that work for you. Contact us or call 678-456-6919 for more information.