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Why it’s time to get rid of spreadsheets

bank statement import

Why it's time to stop using spreadsheets for accounting

Many small businesses use excel or other spreadsheets for accounting because it is free and easy to use. However, now that accounting software exists, it is time to get rid of your spreadsheets as it is so much easier and efficient to use accounting softwares like Moneyworks and ABSS.

1. Time

A lot of time and effort is spent on manual accounting. You will have to spend long hours keying in data and accounting formulas, and if you have made a mistake somewhere, you will have to spend time combing through your entire spreadsheet to rectify it. As a small business owner, time is precious and you probably have a lot on your plate and you won’t want to spend so much time on accounting. 

Accounting software on the other hand, can help you to save so much time. Accounting softwares like Moneyworks and ABSS  have an intuitive and user-friendly interface so you won’t have to spend so much time searching and memorizing accounting formulas because you can do most of your accounting with a few clicks. 

With accouunting softwares, your business is bound to save time and more importantly, costs.

2. Small errors can result in huge losses

As mentioned previously, if you have made a small error while entering your accounting formula or data, you will have to spend some time checking your spreadsheets, which is very unproductive. However, what’s worse than that is not discovering your mistake, and one wrong digit, or comma, can result in huge losses.

3. Helps you to calculate GST

Most accounting softwares like Moneyworks and ABSS can help to calculate GST for every transactions that you have made, that way, you won’t make a mistake calculating it or forget about it.

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