I have had small clients before that utilizes spreadsheets like mirosoft excel (or even worse, manual journals) to record accounting transactions, out of which they prepare financial reports.
Why not yet automated? There can be three possible reasons:
- Their transactions can be very simple and volume of transactions very low that it renders more efficient to use spreadsheets rather than use any simple software (like a GL system) available in the market, to process those transactions;
- They don’t have enough fund to invest in a fully licensed GL system; or
- A conservative accountant who’s not willing to adopt the latest technology.
Sad to note, though, that the last reason is often the case for these companies, or maybe a combination of any or all of the three, but that the third is oftentimes present.
For companies that cannot afford a system, especially for those that are on the start-up phase yet, Microsoft has the latest (announced just this week!) special offer: