Member Since: 7th Sep 1999
4th Dec 2014
Honest to God, I've seen this happen THREE times in my 24-year professional career:
Some user uses Excel (or Lotus 123, Quattro Pro or any other spreadsheet) to lay out a table of data -- then MANUALLY adds up the rows/columns and enters the totals as raw values in the total cells (instead of a SUM formula). Would be bad enough for one-time tables but these were on-going templates that were constantly being updated (and re-totalled manually!).
And I echo max.lee's comments -- a particular sin of accountants -- always using Excel when a proper database application would be the better choice.
I once saw a colleague using a calculator while starring at an Excel spreadsheet. I found out that he did not know you could multiply and divide in Excel. His reaction was amazing when I showed him how to do it properly in Excel. We had several courses from beginner to advanced level that the staff could book and go on but this person was too embarrassed to go so carried on for a few years with very little skills!
9th Mar 2011
Proposals do not go far enough
My firm deals with a lot of medium and large sized private companies. The majority are owner managed business where the company or group is owned and run by 1 or 2 individuals, they do not have bank loans, etc. Their accounts need to be audited just because they have exceeded the audit threshold.
These are private businesses not operating in any public interest sector. The audit is of no value to the directors/shareholders. They have better management systems on which they rely and an audit carried out months after the year end is irrelevant. So why are they required to have an audit just because of their size? In my opinion all private owner managed business regardless of size that are not in a public interest sector (banks, charities, etc) should be exempt from audit unless a certain percentage (10% maybe?) of the shareholders request an audit.
Companies Act 2006 also brought in a requirement for medium sized groups to prepare consolidated accounts. Again, the private owner managed business see this as an extra unnecessary cost and do not derieve any benefit from this. This requirement should be removed as well if the government is looking at regulatory red tape.
21st Jan 2011
No demo version?
As accountants club members, we get it free of charge but Sage cannot tell me at the moment how to log in and look at it as a demo does not exist. Apparently I can only view live clients' data but I cannot recommend it to clients as I have not tried the software myself. How do Sage expect us to sell this to clients?
I refuse to sign up for a free trial with my email address and financial details when I am already an accountants club member.