Microsoft® Excel® versus Automated Accounting Software

Using Microsoft Excel for Accounting? Relying on accounting software instead can help you create order from chaos, save time, avoid costly errors, and make good decisions.

Small Business Challenges
Automated Accounting Software Microsoft® Excel®
Limited resources
  • Low initial software cost.
  • Potential reduction of accountant fees.
  • Excel is not free and is comparable to the cost of basic accounting software.
  • Accountant might charge you more for Excel records as it may be time consuming to understand the records you provide them vs. a standard double entry bookkeeping.
Not enough time to get started
  • Quick learning curve with no accounting "know-how" needed.
  • Automated software takes the guesswork out - no formulas or programming required. The basics are "enter sale", "spend money", "receive money".
  • Basic tasks are familiar. More advanced features require time for proper learning and experience.
  • Manual entry for multiple worksheets and complex formulas.
Limited number of employees
  • Start saving time: once the basic framework is setup.
  • Stay organized: enter your information once and manage it all from one central place.
  • Integrates with Microsoft Excel: export information directly into Excel for further analysis and planning which will help make better decisions.
  • Audit trail: review all transactions that have been changed by your employees.
  • Manage money: track invoices and payments; manage budgets and projects.
  • Takes a lot of time to manually enter your data
  • Doesn't offer an easy conversion of your records to customer facing forms. E.g. sending an email, or printing a vendor invoice.
Accuracy without the complexities
  • Streamlined data entry saves you time and cuts down on errors! Use internal accounting control to check for any data entry errors.
  • Accounting software doesn't allow for input of incorrect data such as credit-debit mistakes, and it automates postings to ledgers and journals.
  • Manual data entry process leads to mistakes.
  • Data can corrupt through accidental changes/deletion.
Preparing for tax time
  • Computerizing your accounts will get you ready for the year-end quicker and more accurately.
  • Helps reduce costly penalties.
  • Doesn't offer an audit trail to show how your business records have changed.
Access to key financial data
  • Financial transactions are consolidated and managed from one central location, eliminating the need for separate Excel worksheets.
  • Access to real-time data gives you an insight into the financial health of your business so you can plan for the future or make improvements.
  • Does not provide you with real-time financial data for accurate decision making.

Why Sage 50 Accounting?

Sage knows Canada

At Sage, the source of our inspiration and innovation for Sage 50 (formerly known as Simply Accounting) never changes. Our mission is always driven by the energy and creativity of Canadian business owners pursuing their dreams. Helping them reach their goals is what we do.

Choose Sage 50 because we are . . .

  • Canadian-made for over 25 years.
  • Fully outfitted with built-in Canadian tax regulation compliancy.
  • Trusted and used by over 500,000 Canadian small businesses.
  • Backed by Canada's largest network of accountants and bookkeepers— 13,000+ Sage Accountants Network members.
  • Supported for both English and French—application and customer support.
Sage 50 Accounting formerly Simply Accounting
Nexus: G-WEBCD2