There multiple excel users in the property management society, and it is a fact. Also, known as the Excel roadmap spreadsheet program that mostly plugs up common gaps that are located in other accounting programs. However, other property managers don’t depend a lot on Excel. Lately, excel fans who are not satisfied with other accounting software products along with their details are now using excel for accounting reasons.
Always there are success stories that tell individuals who have exchanged their non-functional accounting software programs to use Excel. Though the facts are, when you are using excel as your main accounting software program, it is simply because it causes more features issues than it removes. The following are some of the features that are not included in Excel primarily when related to property management enthusiastic software accounting solution:
For individuals who are using excel exclusively as an accounting program, due to its flexible nature, it can become a liability than an asset. Flexibility nature experienced in the spreadsheet program allow the user to alternate the formulas when customizing and necessary data. Also, the basic accounting program solution should give control to maintain data integrity.
User fault protection
Excel can never provide a dual accounting dual system. The equity equation is an Asset without liabilities. There are significant reasons why this system has been used for many decades, and it is simply because it makes the book balanced. Any accurate information entered on the computer on relying on individuals who execute it. Although, the integrated accounting program offers the type of protection that not accessible with Excel.
Easier to use
Anyone who uses Excel accounting software as a replacement should be very experienced. It could be much easier than using a template. But the user should still understand his or her way on excel to keep the transaction of a business or company perfectly organized. Other solutions are much easier compared to Excel, especially when it comes to making up a robust solution with less maintenance for financial reasons.
The traditional accounting program can also make it much easier to balance the bank accounts, plan an accurate financial statement, and track transactions. Since excel can be applied for these reasons, it is suitable for startup property businesses to use standard software for accounting purposes.
Instead of attempting to create an Excel roadmap program, it is advisable to use it as the spreadsheet program, depending on how it was designed. While Excel can be used for these purposes, a smaller property management business should use standard software for its accounting needs.