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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.
You need to know which projects and tasks are slipping through the cracks so that you again react. You need to know when you will not have enough resources to meet demand so that you can allocate them properly or manage the demand. You need to know which issues are lurking so that you can address them now before you lose the favor of a critical customer. And you need to see how your processes are working so that you can continuously improve your processes. In today s economy competitive landscape and accountability standards you must have the data. Managers are getting blindsided because they do not know what is coming and what is going on.
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Bonus Tip: Stick with Conventions I mentioned before that the buttons on the hard-to-use spreadsheet were square. If you look at just about any website using a button the ratio of width to height falls roughly in the range 2:1 to about 5:1. Sizes too far outside this range look a bit strange and are not as readily identifiable as buttons. Hyperlinks that you create in Excel can be formatted any colour you like but unless there is a good reason stick with the well-known blue and underlined as in ExcelProductivityTips. The spreadsheet templates that used to ship with Excel were formatted with light yellow for areas of data entry and light green for results. Some people still use this convention.
This is where the right project management software tool shines and spreadsheets fade. A good project management tool will be database-oriented and should allow for different types of ad hoc reporting across multiple projects. This enables the mining of all kinds of data. You simply cannot do this in a spreadsheet at the same level. If you really really know what you are doing it is possible to tie spreadsheets together and generate some integrated data. But that is not the same thing. You simply cannot on a whim mine into the data represented in your multiple spreadsheets. And in today s environment this is critically important.