Generate customizable reports: Create template-based reports (including tables and charts) that can be reused for tasks like invoice management and estimating cash flow volumes. You can track recurring costs to get a clearer picture of where your money is going, and (if applicable) divide customers into groups based on size, location, or purchase to see which groups generate the most revenue for your business. Use of Excel for business accounting has been declining since 2017( Source )īenefits of using Excel for small-business accountingĬompare datasets: Helps compare financial datasets such as total accounts payable versus receivable to calculate cash flow volume within a given period.
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