Prevent mistakes when recording financial information
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The accuracy of financial information captured in an Excel spreadsheet is often compromised because of small mistakes. Spreadsheet Professional is a software tool available from Miricle Solutions that allows for the auditing of worksheets. This is extremely useful for accountancy firms who can reduce the time and labour involved in finding errors in recorded financial information.
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Some of the more common errors which occur in spreadsheets can take hours to locate if done without the use of Spreadsheet Professional. Mistakes such as the ones listed below are often a cause for concern. Making use of Spreadsheet Professional will help to eliminate errors in reports containing financial information.
A common error causing inaccurate calculations is for instance, the wrong use of referencing. The referencing term refers to the instruction used to guide a formula’s reaction when copied to cells. When the wrong referencing is utilized it will result in inaccurate answer. The Spreadsheet Professional software can easily identify inconsistencies in formulas and thus enable you to correct the problem. In addition to the Spreadsheet Professional software of which you can download a review and trial or obtain the full package, we offer useful tips and videos for free to help you use Excel more efficiently and prevent mistakes with calculation.
Another common problem that we address in the tutorials and free training videos is that of making changes to a spreadsheet linked to other spreadsheets. If you want the changes to reflect in all the linked spreadsheets, you need to have all the workbooks open as it is impossible for Excel to make adjustments if a linked spreadsheet is closed. This is yet another area where you can benefit from the free training offered at Miricle Solutions to improve the accuracy of financial information in your spreadsheets. Contact us for assistance or to book a training course.
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Through the provision of centralized access to accounting records
contained in spreadsheets for a specific group, the confidentiality
of the data can be protected. This is made possible with features
allowing view rights restrictions and making sure that the copy
shared is always the most current one.
Excellent Control
The Excel Server control provides more consistency for information
sharing and updating within the enterprise. Delivering performance
is increased and through automatic refresh functions the latest
version of a spreadsheet can be seen.
Contact and sharing through database functionality
Excel has gone one step further to improve access and importation
of data into spreadsheets. It is now possible to access data and
use it in the spreadsheets without knowing all the data sources.
The enterprise IT division can make a set of databases available
to the employees, which can be accessed through the Data Connection
Library. This makes it possible to use the vital sources and import
the required data into specified spreadsheets without passwords.
Accounting records contained in spreadsheets can also be managed
through snapshots. Although the snapshot has the same look as the
original copy, it only holds the values and format of the original
one. Formulas and confidential or restricted properties are hidden.
The value of the snapshots view is in sharing information with clients
in a secure form without compromising sensitive information. It
is also the ideal tool to use in analysing data for the purpose
of trend identification and compiling reports.
With the SharePoint Server 2007 an additional benefit is gained
in Excel; that of View Item Right, which restricts the execution
of files available on the server and access in the snapshot view
to hidden values and formulas contained in specific sections of
the spreadsheet. This is especially important to protect sensitive
information contained in accounting records. It prevents the downloading
of a whole spreadsheet by clients. This is an improvement in security
and safeguarding of enterprise intellectual property. Even with
the restriction in place, interaction is still possible and users
can still view the required data through a web browsing facility.
Uploading spreadsheets to share on SharePoint Server 2007
The new version of Excel and the provision for uploading data to
the SharePoint Server holds several advantages for the users and
the enterprise alike:
- Secure publishing since Excel Services makes files available
- held in the administrator folders. The list of locations where
the files are stored is provided to allow SharePoint Server to
make it available.
- Control is maintained when documents are published to the SharePoint
Server through access restrictions to parts of sheets within spreadsheets.
- Simplification of the maintenance for specific data connections
through the Data Connection Library is obtained.
Reporting enhanced
Excellent report management is available that enables clients and
or colleagues to view specific information contained in the spreadsheets
while the company intellectual property is still safeguarded. It
is possible to select which cells to publish so that the required
information can be shared.
Obtain feedback
After you have created the spreadsheets, they can be forwarded
to colleagues for feedback via electronic mail. If you need feedback
urgently, you can also make use of the review workflows application
available on the SharePoint Server and Excel. To do this, simply
select the relevant SharePoint Server workflow in Excel. Tasks are
created for all the participating persons and they are notified
of the attachments needing review. Once received, they can update
their status in the completion form supplied.
If your company makes use of Excel as part of its daily functions,
visit the Audit Excel site on a regular basis where Miricle Solutions
provides innovative solutions to risks associated with spreadsheets
usage, including the sharing of accounting records in Excel spreadsheet
formats.
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