Accounting software Excel

Accounting software Excel

It is possible to do your bookkeeping in Excel. Many small business owners and freelancers often start with Excel because of the low cost and the flexibility it offers. Here are some points to consider:

Pros:

- Flexibility: Adapt your worksheets as you like.
- No costs: If you already have Office, Excel costs you nothing extra.
- Formulas: Excel can make automatic calculations.
- Templates: Free accounting templates are available for Excel.

Cons:

- Errors: It is easier to make mistakes in Excel.
- Limited functions: Fewer automated tools than in specialised software.
- Scalability: Excel can become inefficient as your business grows.
- Reporting: No advanced reporting tools like in professional accounting software.

Tips:

- Backups: Saving regularly prevents data loss.
- Data validation: Restrict input to prevent errors.
- Simplicity: Keep your spreadsheets clear and simple.- Update: Update your bookkeeping often.

Our advice
For a very small business Excel can work. But with more than 50 transactions a year, an online accounting package, which costs about €15 per month, is a better choice. It saves you time and reduces errors. So consider an online accounting package!