Microsoft Office Excel includes easy to use spreadsheet functionality which can simplify basic accounting tasks. Plus it supports additional add-ons when more sophisticated programs are required. Date importation from outside financial sources and even additional competing software platforms can all be accomplished when handling basic accounting with Microsoft Excel. The program offers a lot in terms of accounting abilities, making it a fantastic teaching program for students beginning to learn the accounting basics.
- Budgeting and statements: Microsoft Office Excel comes complete with a wide variety of templates for creating basic accounting statements, including profit and loss, cash flow, and budget. More complex templates can be downloaded from the Office website and adding on specialized templates from other software vendors is a simple and easy task.
- Spreadsheets: When performing basic accounting with Microsoft Excel, expensive accounting calculators are no longer required to figure out complex formulas. Excel spreadsheets are designed to handle both in-line and summation calculations.
- External data: Microsoft Excel allows external data from numerous sources to be uploaded. This data can also be stored in a variety of different file formats without requiring additional data entry.
- Integration: Another major advantage of introducing basic accounting with Microsoft Excel is that it provides easy integration with many other popular accounting applications. Many of these software applications include wizards, which work with both Excel and a separate accounting program.
For more information on how teaching basic accounting with Microsoft Office Excel can benefit your students, please contact us at Labyrinth Learning today.