Introduction > Benefits of using ExcelFSM

How does ExcelFSM help?

Amounts appearing in a financial report are either an Item balance or a Total.

An Item balance results from the grouping of one or more accounts from the Chart of Accounts.

A Total results from the grouping of financial report Items.

•ExcelFSM reads the trial balances produced by accounting software, then organizes and stores the data.

•ExcelFSM accesses the accounts so you can easily group them into financial report Items. Items balances are placed into Excel worksheet cells, updated as you perform the grouping.

•ExcelFSM helps you group Items into Totals, which are also placed into Excel worksheet cells, updated as you perform the grouping.

•ExcelFSM also helps you reduce typing by providing Suggested Titles for the financial report Items. ExcelFSM even has a button to put the Enterprise name into a cell, and a button to put the ‘As-of date’ into a cell.

•ExcelFSM allows you to toggle the display of accounts that are grouped into Items, while you are in the sheet of a financial report.

•ExcelFSM updates the financial reports by clicking the Refresh button and identifies any new accounts, that you simply group into the proper financial reports Items.

•ExcelFSM can display, in your financial report, Comparative balances of selected date or dates range within the fiscal year. You no longer have to print worksheets of prior periods and manually merge to place them side by side in order to compare numbers from one date to another.

•ExcelFSM not only displays rounded values, but also computes with the rounded values of the account balances, which provides accuracy.

•ExcelFSM allows you to manage the worksheets from a movable and resizeable dialog that shows all the worksheets at one glance, a handy alternative to manipulating the worksheet tabs at the bottom of the Excel workbook, which can be tedious and time consuming.

•ExcelFSM assists in generating PDF / XPS files for your financial reports and generated worksheets, from with Excel.

•ExcelFSM allows you to drill down and get the detail of an account balance, and the detail of a transaction, from the financial statements built with ExcelFSM.