Preparing accounts working papers electronically using excel?

I am trying to establish an optimum system for the actual working papers in the accounts preparation.

I have a DMS where documents get scanned in and when the accounts come back signed these get scanned in to.

However what about the actual working papers in preparing the accounts. Do other users find that simply using excel works for them or do they still use a paper file with lead schedules etc and then scan this in at the end??

Thanks for any help