Excel accounting software has what pros and cons? See this article of Viindoo business management software to learn more information and download the latest free Excel accounting software 2023.
Advantages of accounting software Excel
As a commonly used office tool, accounting software for Excelcel has some outstanding advantages such as:
It is familiar, easy to get used to, easy to use, does not require accountants to have in-depth knowledge of databases and use professional software.
Users can create multiple lists with Excel.
It only takes small fee to buy Microsoft Excel software license. The software can be easily installed on any computer.
The software supports to analyze and perform accounting operations without additional supporting software. These operations are:
Sales, import and export information.
Financial statements and book forms applied in accordance with Circulars 133, 134.
Automated reporting data from the general input table.
Warehouse receipts, inventory receipts, receipts, payments and accounting slips.
Liabilities tracking.
Excel accounting software has some specific advantages.
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Disadvantages of Excel accounting software
Besides the advantages, online accounting software for Excel can pose you to many limitations as:
- The software is only suitable for small companies with simple accounting operations, and the data and information sources are not large. For businesses with larger databases, using this software will make it difficult for accountants to control all the necessary information.
- The security is not high, files can be easily deleted as well as data cannot be recovered, threatening the company's information security.
- It is difficult to share work and difficult to handover.
- If many people work at the same time, data will easily be skewed and overlapped.
- The data files are saved individually, so when making year-end financial statements, businesses will have to review from the beginning, which is very time-consuming.
- It is extremely difficult to find books, documents and data on the software.
- If you want to aggregate data, businesses will have to spend time making statistics and retyping from the beginning.
It can be seen that, besides the advantages, Excel accounting software has disadvantages that are difficult to overcome. This software is only really suitable for accountants who want to learn and use accounting software, or for small and micro businesses with simple accounting operations.
Small companies often instruct accountants to use Excel accounting software.
Download free Circular 200 Excel accounting software
Here is a link to download free Excel accounting software complying to Circular 200:
Download free accounting software Excel Circular 133
Enterprises/accountants can get the link Download free Excel accounting software complying to Circular 33/2016/TT-BTC free here:
Comprehensive accounting software solution Viindoo
Excel accounting software has low security, with the data files saved separately. Therefore, to overcome the above disadvantages, many businesses have put into use comprehensive accounting software solutions.
As an easy-to-use and effective accounting software that is widely trusted and used by many businesses, Viindoo Accounting can:
- Provides organizations and businesses with an overall financial picture;
- Automate all reporting activities;
- Quickly and accurately update accounting information in real-time;
- Optimize cash flow management activities and future financial planning;
- Ensure full integration of all necessary functions for accounting management.
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FAQs
Can Excel handle financial calculations and formulas?
Yes, Excel has a wide range of built-in formulas and functions that can handle financial calculations, such as summing totals, calculating percentages, performing currency conversions, and creating formulas for specific accounting calculations.
Is Excel accounting software suitable for larger businesses?
While Excel can be used for accounting in larger businesses, it may not be the most efficient option as the volume of data and complexity of financial operations increase. Dedicated accounting software solutions often offer more advanced features and automation, better suited for larger businesses.
Can Excel be integrated with other accounting systems or software?
Yes, excel can be integrated with other accounting systems or software to some extent. However, the level of integration and compatibility may vary depending on the specific software and the capabilities of Excel.
How do I decide whether to use Excel or dedicated accounting software?
The decision between using Excel or dedicated accounting software depends on your specific needs, the complexity of your financial operations, the volume of data you handle, and the level of automation you require. It's recommended to assess your requirements and compare different software options to make an informed choice.
The above is the information about Excel accounting software that Viindoo wants to share. If businesses/accountants want to be consulted about professional financial accounting solutions, please contact us via hotline 0225 730 9838 for the fastest support!
