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When NOT to use ExcelnnYes…you read that rightnnExcel continues to be the #1 tool for most small business owners…nnand to me, knowing excel can lead to the largest ROInnBut there are times where you should NOT rely on excel…nnLet’s get into it:nn1️⃣ Your Accounting SoftwarennI’ve seen many people reconcile their books in excelnnand maybe that’s OK if you have very little business activity…nnor if you reconcile your books only at year end with your tax accountantnnbut in all other circumstances, setting up an accounting software like Quickbooks Online will save you HUGE headaches, allowing you tonn✅ Sync your transactions from your banknn✅ Set up rules for classifying transactionsnn✅ Add metadata, like vendor name, descriptions, or receiptsnn✅ Perform bank reconciliationsnn✅ Book journal entriesnn✅ Run custom reportingnnMost accounting softwares you can get for less than $50 a month…and some are even freenn2️⃣ Task management systemnnOdds are you aren’t the only one in your Finance & Accounting departmentnnAnd even if you are…you most likely have dozens of tasks to handle each monthnnI see people sometimes outline these tasks in excel, but they lose out on so much with this approachnnWith a task management system, you can:nn✅ Assign people tasks, allowing them to get notifiednn✅ Have a discussion on the task in the task itselfnn✅ Include subtasks, and dependency tasksnn✅ Sync updates to slack / emailnn✅ View tasks in list vs kanban vs calendar formatnn✅ Include instructions in a nice UInn✅ Attach documents & other resourcesnnAlmost all task management softwares offer a free starter plan.nnThose are just 2 areas where using an excel sheet can get you into trouble…there are many othersnnWhere else would you suggest to avoid using excel?nnLet us know & join the discussion in the comments below 👇...