Spreadsheets have become one of the most prevalent software applications used in businesses today, for everything from simple calculations to impromptu databases for tracking a wide range of information, including employee hours, expense reports, and fixed assets. And while spreadsheets are inherently useful in business, they are constantly being used for tasks in which they are ill-suited. Many companies use spreadsheets for financial tracking and reporting, but the negative aspects of using spreadsheets for tracking and depreciating fixed assets are substantial. This white paper describes fourteen ways that spreadsheets can fall short, and gives recommendations for implementing a dedicated asset inventory and asset accounting solution.
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