By . Expenses Spreadsheet. At Friday, May 28th 2021, 06:28:42 AM.
Whats more, the damage done can also affect public perception and trust in your brand, leading to less tangible but just as dangerous losses. Is it possible to move away from spreadsheets? For smaller businesses, the number of accounts needing to be reconciled is relatively small, so it makes sense for smaller businesses to continue using a combination of spreadsheets and QuickBooks. In turn, the team that manages the financial close process will also be relatively small, perhaps just one or two finance staff, so there is also less room for data handling errors. However, as the number of accounts to reconcile grows and the team managing your monthly close process is expanded, errors can easily worm their way in to the reconciliation process. Once a business has grown, it makes sense to move away from Excel spreadsheets and QuickBooks, particularly for tasks like reconciling. At its capacity, the finance department of a large organisation can generate up to five hundred spreadsheets a month - so its easy to see how errors and duplications can creep in.
When developing a spread sheet solution in Excel, you make decisions and change features and formulas which at the time make perfect sense and have a logical flow. Once you come back to amend, or enhance or troubleshoot your spread sheet, what made sense at the time of development, may not be so obvious at a later date. So here are my top 5 things to avoid when developing a spreadsheet solution to enable you to troubleshoot any issues and make your spread sheet as efficient as possible. 1. Merged Cells. They may look good, but they can play havoc on the functionality of you spreadsheet including losing the ability to sort data correctly or run VBA as it does not handle merged cells very well. You also lose the functionality of a normal data table in Excel; that is the great functions such as Pivot Tables, SUMIF, COUNTIF etc the list goes on!. If you want to use Auto Fill- no chance with merged cells and do not expect to be able to copy and paste either.
Spreadsheet bid calculators are evolving through years of trial and error by individuals designing their own spreadsheets due to cost and affordability, which is a viable option for them if they have time to design these spreadsheets. Large contracting firms compile their constructions bids using expensive standalone programs, because they have proven platforms with a record of accuracy. Spreadsheet calculators deliver detailed bids to the user with excellent results and without the high operating cost of expensive programs. Spreadsheet calculators when placed on a laptop give contractors flexibility to estimate small projects and/or large projects on construction projects. Contractors waste valuable time and money returning to the office with the clients project information just to calculate the bid, then return to deliver the clients bid. Spreadsheet calculators calculate the required 10% overage on materials, including the contractors pricing structure for labor/material/equipment designed in the calculator.