Outline five advantages of Spreadsheet over paper ledger sheet
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Outline five advantages of Spreadsheet over paper ledger sheet...
Easy payment tracking. While small business owners and those new to accounting can find it difficult to track payments, spreadsheets offer a simple solution. ...
Linking related data. Another benefit of using spreadsheets is that you can link worksheets together. ...
Useful formatting. ...
Spreadsheet functions.
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Advantage: Organizing Data
Spreadsheets are frequently the go to tool for collecting and organizing data, which is among the simplest of its uses. Information can easily be placed in neat columns and rows and then sorted by information type. Although a large collection of data may be overwhelming to view in its raw state, tools within the program allow the user to create presentations where the data is analyzed and plugged into pie charts or tables for easy viewing and interpretation.
Disadvantage: User Bias
However, the downside is that only the information that the user chooses for analysis is included in these presentations, and therefore, other pertinent information that may influence decision making might be excluded, unintentionally. To make reporting of data more user friendly and comprehensive, companies are choosing to use reporting tools such as Tableau and Qlik, instead of relying solely on the spreadsheet.
Spreadsheets are frequently the go to tool for collecting and organizing data, which is among the simplest of its uses. Information can easily be placed in neat columns and rows and then sorted by information type. Although a large collection of data may be overwhelming to view in its raw state, tools within the program allow the user to create presentations where the data is analyzed and plugged into pie charts or tables for easy viewing and interpretation.
Disadvantage: User Bias
However, the downside is that only the information that the user chooses for analysis is included in these presentations, and therefore, other pertinent information that may influence decision making might be excluded, unintentionally. To make reporting of data more user friendly and comprehensive, companies are choosing to use reporting tools such as Tableau and Qlik, instead of relying solely on the spreadsheet.
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