The Problem With Spreadsheets, Part 4: Tracking Budgets

It’s one thing to have a budget for your department or a customer project, but it’s another thing to actually follow it. Of course, you need to hit certain financial goals and deliver a product according to what you quoted, but how well can you follow a budget using a spreadsheet? Not very well indeed.[…]

The Problem With Spreadsheets, Part 3: Finding Meaning

Spreadsheets can be handy for collecting little bits of data and turning data into colorful charts. However, even with dozens of spreadsheets and charts, it could take hours or days before you can find an accurate depiction of your financial health. You can squeeze a lot of data into the neatly organized rows and columns[…]

The Problem With Spreadsheets, Part 2: Where Did We Go Wrong?

It’s easy to dot the “i” and cross the “t”, but not always as easy to remember to carry the one when working on a mathematical formula in spreadsheets. You often don’t see the formulas when scanning through pages and pages of financial figures. Then, as cells are connected to other cells on additional spreadsheets,[…]

The Problem With Spreadsheets, Part 1: Basic Math

You would be hard-pressed to find an office that doesn’t use spreadsheets to collect and share important data. In this 4-part blog series, we explore several of the biggest problems with relying on spreadsheets, starting with the problem of basic math. According to an article posted on MSN Money, 88% of spreadsheets have errors in[…]

Data Rich, Information Poor

You can have all the business data in the world, but unless you know how to use it, your data can be useless.  Each day your business generates volumes of data that you need to make successful decisions and drive growth.  However, getting accurate data and making sense of it can be tricky.  That is[…]

What’s YOUR Side of the Story?

There are two sides to every story, but only one truth.  When sharing financial stories at a business, it’s important to find the real truth behind your facts and figures.  Knowing your true costs and labor productivity will give you a better idea on what your true profitability is for the products and services you[…]

How to Master Your Touchdown Dance as You Head into that Second Quarter

We have completed the first quarter of this calendar year and are heading toward the halfway mark in the second quarter.  What have you discovered in the first quarter’s data that may influence the second quarter results?  If you are still shocked that some businesses already have first quarter results in their hands, then I wager[…]

‘Mind the Gap’ with Important Financial Data

Like the famous warning noted near trains, reminding passengers to be careful when walking between the train and station platform, accounting departments should also ‘mind the gap’ with important financial data.  Any gaps between payables and receivables, entering contract or invoice data, and turning financial figures into shareholder or tax reports should be carefully tread.[…]

Business Growth Doesn’t Have to be Painful

Many start-ups or small businesses think that an entry-level accounting program is all they need to manage financials.  After time, they quickly feel the pains of being stuck with software that is too small for their needs and goals.  The wrong software can create problems with regulatory reporting or compliance, as well as cost you[…]