Lies, Damn Lies and Spreadsheets; How to Prevent Spreadsheets from Ruining Your Business

Posted by nialldevitt under Management
From http://tweakyourbiz.com 4528 days ago

This article looks at some classic spreadsheet errors in layman’s terms and suggests some preventative measures.

Who Voted for this Story

Top BizSugar Users

This week's most active BizSugar users. Join Them!

Comments

Written by elainerogers
4526 days ago

Niall & Helen, a super article - thanks for highlighting the vulnerability and volatility of spreadsheets and their users!!

=20+15*2 - A most common error in spreadsheets is lack of knowledge of simple mathematics. Some would use this simple formula to return an answer of 70, however a spreadsheet will return 50. No amount of auditing/checking will proof something like this.

I had a client who used Excel for accounting - when moving over to an accounts package, they realised they had not invoiced for 2 contracts!! OK it was only 1000 Euros, but that is a lot of money to be missing out of a small business cash flow!

Again, thanks for highlighting. Self taught spreadsheet users can be the most dangerous kind, especially when they mentor others!

- 0 +