Many small business owners and independent service professionals are comfortable using Excel spreadsheets to manage their business finances, but is this really the best way?

On this episode, we discuss when using Excel for business finances works great and when using Excel falls short. Excel can be time consuming and end up creating a lot of unnecessary work, so it’s important to know when it’s time to ditch Excel for a proper accounting tool.

Here are some of the questions we answer on this episode:

• Can independent service professionals use Excel spreadsheets for their business to keep track of their finances?
• What other tools can keep track of small business finances and money?
• Are there Excel small business templates?
• What data should service professionals look at each month to see how their business is progressing?
• In what areas does Excel fall short in helping businesses manage their finances?
• What are some ways small businesses can save time and money managing their finances?