In my experience, I have found that managers and employees prefer reports that are created as electronic spreadsheets because they offer more flexibility and enable the user to quickly and present data as needed. Electronic spreadsheets are unique in that they give the creator the opportunity to showcase their skills, style, personality, and creativity, which increases their motivation and allows them to experience the joy of creation.  Another reason employees are partial to electronic spreadsheets is that they enable them to make quick adjustments at a moment’s notice. Data can be edited in real time during a meeting or at a remote location away from the office—anywhere Excel is available. By this, it is easy to access reports and have the most up-to-date information when making critical business decisions.
On the other hand, the data on electronic spreadsheets can be transmitted independently of the organization’s control, and any changes made on them are not necessarily reflected in the organization’s primary systems which can lead to some inconsistencies between the data in the spreadsheets and the official reports. Also, in my experience, I have found that individuals tend to build databases according to their particular needs, abilities, and preferences. The individualized nature of these spreadsheets can make it challenging to transfer data to the central database, which can lead to the organization losing valuable knowledge and data.
One of the solutions we offer is an interface between the Excel modules and the central information system by uploading transactions from the primary database to the excel, to correct/update the results in the excel (in particular Journal entries ) and then automatically/ manually transmit additional Journal entries back to the database. This gives the user the ability to quickly make adjustments or create a simulation by updating the changes in the controlled Journal entries and have the necessary results like IRR and NPV. They will then immediately be able to produce financial statements, forecast statements, and financial projections by companies, currencies, and periods. These reports also take into account the estimated exchange rates and the VAT.

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