Data Analysis and Forecasting
Even the highest-end Swiss Army Knife doesn’t contain every tool in the world. Likewise, entry-level accounting software does cover a wide array of business tasks, but even businesses using enterprise-scale accounting software still supplement its capabilities from time to time with spreadsheets, databases, analytics, and other tools to perform additional business analysis activities.
This final part looks at software you might choose in addition to your accounting system. We also go over the types of analysis, reporting, and other activities you might want to perform. We begin with an introduction of why spreadsheets are a good choice and walk you through a spreadsheet example to show you how quickly you can build a useful business tool such as an amortization schedule. Next, you learn how to use a spreadsheet not only for budgeting, forecasting, and trend analysis, but also for getting a sanity check on the numbers your accounting system is reporting. Finally, we explore the relatively new universe of apps, some of which might supplement the features of your accounting system, and others that make you more productive and effective.