Additional information and exceptions may apply. This content is for information purposes only and should not be considered legal, accounting, or tax advice, or a substitute for obtaining such advice specific to your business. An error in one cell can trigger a waterfall effect on your bookkeeping. Using a spreadsheet can also be time-consuming and potentially harmful. With a spreadsheet, you could run the risk of misplaced data, broken formulas, and lost files. While a spreadsheet is a good place to start, it may not be the most effective way to stay on top of your credit card payments, bank accounts and all the different types of business bills. Many small business owners want to get a better handle on organizing and paying their bills, but often they’re stuck using spreadsheets to log each monthly bill payment. You might come close to missing payments, getting hit with late fees-even dinging your credit score. Without an organized bill management system, your bills could quickly get lost in the shuffle. If you ever get into a situation where your bills pile up and you can’t keep up with due dates, it’s easy to get overwhelmed. Paying bills may not be the most exciting tasks for you as a small business owner, but it’s definitely one of the most important.
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