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Excel spreadsheets are a ubiquitous tool used in businesses of all sizes. They are used to store and manage a wide variety of data, from customer records to financial data to inventory information and so much more. It’s the most common format used by business worldwide to share their transaction details. For example, a business receiving or downloading order/invoice details from an e-commerce operator, would be required to process the data maintained by the operator in Excel.
Unsurprisingly, even when businesses have automated their accounting and bookkeeping using business management software, there is always some data maintained in Excel.
While this as a need or practice will continue to exist. The critical question is, what happens to the data that is maintained in the Excel? The answer is simple. The relevant data needs to be recorded in the software the businesses use. Let’s say you have downloaded the Excel with details of invoices from the e-commerce operator portal. You need to record all these invoices in your accounting or business software. This needs to be done manually, which is a time-consuming process and is prone to a lot of errors, and if the volume is high, it will be a nightmare.
Is there any method to do it quickly? Yes, there is.
Directly import the Excel data to the business management software. To make this possible, the software needs to be built with the capabilities that allows you to import the ledgers and transactions from Excel. Software should create relevant records based on the information available in Excel. Just like in the case of the e-commerce operator, software should create invoices automatically upon importing the invoice details from Excel.
Before looking at the benefits of Excel import capabilities, let’s look at the scenarios in which it will be helpful.
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There are a number of scenarios when importing data from Excel can be useful. Some of the most common scenarios include:
There are a number of benefits to importing data from Excel into business management software. Some of the most common benefits include:
The wait is almost over as the TallyPrime is coming with much more than just excel import capability in its latest release---TallyPrime4.0.
And so much more…..
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