Working With Excel

In my experience, managers and employees prefer reports created as electronic spreadsheets because they offer more flexibility and enable the user to present data as needed quickly. Electronic spreadsheets are unique in that they allow the creators to showcase their skills, style, personality, and creativity, which increases their motivation and enables them to experience the joy of creation.  Another reason employees like electronic spreadsheets are that they will allow them to make quick adjustments at a moment’s notice. Data can be edited in real-time during a meeting or at a remote location away from the office—anywhere Excel is available. This makes it easy to access reports and has the most up-to-date information when making critical business decisions.
On the other hand, the data on electronic spreadsheets can be transmitted independently of the organisation’s control, and any changes made to them are not necessarily reflected in the organisation’s primary systems. This can lead to some inconsistencies between the data in the spreadsheets and the official reports. Also, in my experience, I have found that individuals tend to build databases according to their particular needs, abilities, and preferences. The individualised nature of these spreadsheets can make it challenging to transfer data to the central database, leading to the organisation losing valuable knowledge and data.
One of the solutions we offer is an interface between the Excel modules and the central information system by uploading transactions from the primary database to Excel to correct/update the results in the excel (in particular Journal entries ) and then automatically/ manually transmit "the additional Journal entries"back to the database. This gives the user the ability to quickly make adjustments or create a simulation by updating the changes in the controlled Journal entries and has the necessary results like IRR and NPV. They will then immediately be able to produce financial statements, forecast statements, and financial projections by companies, currencies, and periods. These reports also consider the estimated exchange rates and the VAT.