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Explain what a biggest issue would be when you use the excel for cash budgeting?

Explain what a biggest issue would be when you use the excel for cash budgeting?

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Answer #1

Excel, is the most widely used tool for cash budgeting, however, it lacks the collaborative capabilities needed in developing accurate, consistent budgets that one can present to various stakeholders such as management, board or your lenders.

The budgeting done in excel is based on a lot of assumptions about these futuristic assumptions may be wrong or non-practical. What may seem good on an excel sheet may not be practiaclly possible.

Mistakes and errors in formulas in values are easily made in Excel, especially when importing data or when using complex or unknown excel sheets.

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