What Do Accountants Use Spreadsheets for?

Spreadsheets help accountants track financial figures

Accounting is a business function that can help companies track their financial information. Business owners and managers often use computerized accounting systems to help maintain their business information. Spreadsheets are also a common tool used by accountants.

Reconciliations

Reconciliations are accounting tools where accountants balance information from the company's general ledger against an external document. Accountants can enter information into the spreadsheet and compare the figures, looking for any improprieties.

Financial Statements

Accountants may prepare a company's financial statements using a spreadsheet program. Companies using a computerized business application may not have the ability to create financial statements within the program. This creates a need for spreadsheets.

Report Analysis

Spreadsheets often allow accountants to extrapolate information from a company's business software or application and review it using spreadsheets. Accountants can add formulas, format the report a specific way or send this information electronically to business owners and managers or other accountants for review.

References

• Biz/ed: Between the Sheets