Starting a company in Coeur d’Alene is hard enough, but now you must track all of your sales, expenses, inventory, payrolls and taxes. If you use and are comfortable with spreadsheets, spreadsheets software can easily be set up as a basic set of financial records. In fact, the word spreadsheet is an old accounting term that originally referred to a piece of ledger paper that had so many columns, it had to be folded over to fit in a binder.
- Today’s spreadsheets are not much different.
- Spreadsheets and hand posted ledgers are identical.
- Except that spreadsheets can add and compute automatically (and you’ll never have trouble reading the scribbling).
- Most spreadsheets software comes with a set of recordkeeping templates, or you can create your own.
Spreadsheets, however, are often limited in their interactivity. A financial transaction that needs to be recorded in more than one place in your records, and also gets posted to your income records, may have to be entered twice, in two different spreadsheets files.
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