Question

When beginning a spreadsheet-based calculation for a month-end adjusting journal entry, do you think that calculations would be less prone to errors if a template were used instead of prior month’s Excel file?

Answer 1

Yes. in case of calculation of spreadsheet-based calculations if we used last month sheet than there is probability of not changing all data which was changed this month and some calculations are auto-calculated because of formula and it will change each and every time we change any data relating to the transaction hence may result in error if we change the data directly instead of to be calculated it by the formula. But in excel template all formula is given and we just need to put the basic data which result in less prone to errors as we have to put all data at the suitable place.