Excel did a fantastic job of dominating the spreadsheet world. Unfortunately, like many generalized tools, it’s a jack of all trades but master of none – which is why we made Cabbage, the ultimate tool for generating work-in-progress (WIP) reports.
Here are some of the ways Excel costs you time and effort.
In Excel, it’s easy to see your committed cost and actual cost to date – but if you wonder how those numbers came to be, checking them isn’t easy; you often need to generate a new report to break down how the numbers were generated. With Cabbage, however, all you need to do is click the respective values to instantly see a detailed makeup of each one, including the factors that altered it and by how much.
Excel struggles at highlighting which transactions made your WIP and income statements out of balance, and the data is often hidden in a long list that requires a considerable amount of time to sift through. Cabbage, however, has a general ledger reconciliation tab that automatically identifies and lists the transactions without manual labor.
If you have projects that closed out in a previous calendar year but still need to be tracked for in the current fiscal year, you’ll be disappointed by Excel’s inability to tackle this issue. Once again, Cabbage is better – it was specialized to handle this in a single tab with automated tracking.
And while Excel might be good at crunching numbers, it certainly doesn’t simplify them. As a result, creating a summary of your WIP can be nearly as time-consuming as creating it in the first place – whereas a click of a button in Cabbage creates easy-to-read summaries that can quickly determine the financial health of any contract within moments.
So while you’ve probably had Excel on every work computer you’ve ever owned, it’s time to move on – Cabbage is a superior tool for generating and understanding WIP reports.
Don’t waste another minute struggling with cumbersome Excel spreadsheets. Contact us to learn how to make your job easier with Cabbage.