Microsoft Excel is one of the most popular and useful computer programs used by businesses across the country. It can help businesses run more effectively and help your employees document, analyze and store information more easily. Specifically, Excel proves useful when it comes to the accounting side of your operations. If you have been looking for a new way to handle your business’ financial data, consider the benefits Excel has to offer.
One of the biggest benefits of using Excel is that the program comes standard with dozens of free templates that you can use right away. In the program, you can find ready-made invoices, ledgers and more. This is especially helpful for those with minimal experience creating or completing these documents. Also, you can find several free educational resources to help you locate and use these templates online.
Graphs and Charts
Business data such as profits, supply costs and market trend data is best understood in graphic format. This means you will need a program that can help you turn numbers into charts and graphs. Excel offers several simple ways to do this. These easy-to-use features can help you present data in understandable formats that can be changed quickly and easily.
Future Analysis Features
Making educated budget adjustments is incredibly important for small businesses. This can be difficult for those who do not have lots of experience in the field of accounting. Excel offers features that can help. In Excel, you can use hypothetical data to view how it could change your future budget. This can help you better plan for the future and may help you make critical business decisions with confidence.
Consolidation and Organization
One of the biggest frustrations of accounting is keeping track of hundreds of files, accounts and datasheets. This can become an issue, especially if papers start to get lost due to a lack of organization. Excel offers you the ability to gather all of these important documents into one place. Excel is an incredibly versatile program that allows you to manage dozens of different types of reports and projects on a single digital platform.
Ability To Store Data Online
Businesses are constantly looking for ways to store and share their files online. This allows for greater accessibility, which is especially helpful for businesses with employees or franchises in various locations. With Excel, you can upload all of your accounting data to the cloud, which allows anyone with permission to gain access as needed. This can be helpful when sending invoices or sharing profit trend data with business partners.