Small family businesses or companies with up to a dozen employees do not always need (and can afford) complex and expensive commercial accounting software. These applications often cost thousands of dollars, have paid upgrades or support, expensive monthly subscriptions and quite often have too many blows and whistles that most users and companies will never need. Their operations can be entirely covered by properly formatted and well-structured spreadsheets coupled with an array of calculation tools available in Excel. If you run a company that’s facing the same kind of choice, we recommend taking the most cost-efficient route first and trying one of the Excel-based solutions — for instance, Checkbook for Excel.
Checkbook for Excel is an inexpensive accounting suite based entirely on Excel and its base functionality. The software has a compact size and a very attractive price tag that is way below the average price of professional accounting solutions. Simply put, it’s a personal and corporate finance management tool with tons of handy features that include Quicken *.QIF data import, fully customizable income and expense categories, support of up to 50 accounts, transaction splitting, import of downloaded PayPal payments, detailed income and expense reports and a whole lot more. The program will make it very easy to control your own or your company’s cashflow and calculate taxes. If you are still using a Palm device, you will also like the Palm Companion application that comes with the program and allows you to work on your finances on the go.
As you see, you can maintain accounts in Excel just as efficiently as you would do using commercial tools, but for a fraction of their price. If you are a startup or a small family business with limited accounting needs, Excel-based solutions will be a perfect alternative to conventional account management software.
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