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Microsoft Excel is the most widely used spreadsheet platform used by small businesses to organize their workflow. With the multiple formulas available in Excel, you have options to perform almost all kinds of functions required to run a business.
Accounting
Accounting is the most common use of excel from small shops to big organizations that prefer Microsoft Excel to prepare their accounts. With Microsoft, you can plan budgets and check your business performance. To use Excel as an accounting solution, you should have basic knowledge of formulas. Once you have enough knowledge in Excel for accounting, you can extract the exact picture of your business finances.
Data Entry and Storage
Data entry is the most basic use of Excel. Excel gives you the freedom to save 1048576 rows and 16384 columns. In Excel, you have the option to save data per business requirements; in addition, you have the option to short, and create customized data entry forms as per need. Even you can save a different kind of list, for example, customer details.
Data Analysis
When you have a large amount of data to deal with, Excel is the best spreadsheet solution to analyze data. In addition, it helps you to manage and synchronize it. Pivot Table is one of the best features available in Excel to analyze data. With Pivot, you can easily deal with a large amount of data as it allows you to convert data into a tabular form to have a snapshot of your business and a summary report. In addition, by swapping data segments, you can change the desired data fields.
Reporting + Visualizations
Data in the spreadsheet can be converted into charts and graphs. It can be used for presentations and reporting. Excel not only gives you the option to create charts but also gives us the option to personalize by using different formats and color combinations. Visual reporting makes it easy for everyone to understand data in one glimpse.
Online Access
Microsoft Excel, available in Microsoft Office 365 Suite, allows you to save your data in the cloud so employees can access data from multiple devices and any location with internet connectivity. This feature makes it very convenient for everyone to access data whenever required.