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There are two main requirements of the way the financial records are analyzed being to produce a financial profit and loss account for the business on a periodic basis but also to provide the totals of the categories required for taxation purposes. Buying a piece of bookkeeping software written on spreadsheets can thus become an essential tool for the business. The essential element being to both make the accounting simple and easy as listing items automated analysis and summation assisting the financial control and improved financial performance while also producing the benefits of being analyzed to make the completion of annual tax return forms easier. Everyone in business wants to make a profit making financial control important.
Bookkeeping software can be as simple as a home produced spreadsheet but with additional facets that can have significant financial benefits to the business. Bookkeeping software produced on spreadsheets would normally be a series of spreadsheets with the columns preset and titled and formulae written into the sheet to automatically add up each column. In addition the columns used would normally be restricted to general headings to include a full analysis of all items. Small businesses that might produce their own spreadsheet would often do this on an annual basis. Bookkeeping software is much more likely to provide these bookkeeping spreadsheet templates on a monthly basis to enable a degree of financial control to be exercised by the small business.
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Listing the sales and expenses of a small business on spreadsheets is no more difficult then a manual paper system and has tremendous advantages in automating and ensuring accuracy. Hence the use of bookkeeping spreadsheets to prepare the accounting information required. Instead of listing the items on a paper list the items can be just as easily listed on a spreadsheet which will add up the items as required without the requirement to double check the adding up is accurate. Such a list has a history in accounting term as a sales day book and a purchase day book.
Such a budget spreadsheet may be prepared on either a daily weekly or monthly basis - dependent on your business needs. A personal budget spreadsheet defines an intended purpose or goal for a set period and is adhered to as a benchmark for actual income and expenditure figures. Such a budget should be included in a business plan as a comprehensive example of expected future earnings and expenses. This expresses the viability and sustainability of the project and allows potential investors to ascertain whether or not it would be a valid investment to make. Potential investors require as much information as possible and expect it to be presented proficiently in order to be considered professional.