Kirsty Wright

Adviser – Cloud Accounting
03333 445775

How Accurate Are Your Spreadsheets?


We all use spreadsheets for a number of reasons but can you honestly say that they are all 100% correct? According to a recent survey 72% of accountants have rated “spreadsheet risk” as a major business threat.

This doubt is mainly due to the lack of audit trail on spreadsheets. How can you tell what someone has changed and when? Also, how many people can and do have access to your spreadsheets?

It has also been reported that very few people receive appropriate training on spreadsheets and have a lack of understanding in how to use them.

We have frequently seen clients who have used Excel spreadsheets for bookkeeping purposes. Once this simple data has been provided to us for year-end accounts we have found cases where, for example, the VAT formulas are incorrect or the subtotals have not included all net figures. This means that the figures provided to H M Revenue & Customs on their VAT returns have been incorrect, prompting adjustments and additional amounts to be paid. Just how accurate are your formulas?

This is another reason why at Anglian Cloud Accounting we really champion cloud accounting software. Benefits include audit trails to track each transaction showing who entered the details and when, enabling user restrictions to be applied and allowing access at anytime for your accountant when you need some advice.

Click here for more information regarding spreadsheet risks… …

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Anglian Cloud Accounting Staff Stephen

Stephen Malkin

Manager - Cloud Accounting
03333 445775
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