{"id":96372,"date":"2023-08-08T12:11:23","date_gmt":"2023-08-08T12:11:23","guid":{"rendered":"https:\/\/silverfin.com\/resources\/why-excel-for-working-papers\/"},"modified":"2026-02-16T12:06:05","modified_gmt":"2026-02-16T12:06:05","slug":"why-excel-for-working-papers","status":"publish","type":"post","link":"https:\/\/silverfin.com\/en-ie\/resources\/why-excel-for-working-papers\/","title":{"rendered":"Benefits of Cloud-Based Digital Working Papers in Accounting"},"content":{"rendered":"\n<p>I\u2019ve been working at Silverfin for a little over 6 months now, after my brief hiatus away from the world of UK SME accountancy, and it\u2019s felt like I\u2019ve never been away. For anybody that didn\u2019t know, I spent roughly 4 years working for a little known blue branded cloud bookkeeping platform with strong NZ roots, so not a complete stranger.<\/p>\n\n\n\n<p>It\u2019s been great to catch up with firms, people and colleagues I\u2019ve worked with before and equally as interesting to meet with plenty of new people, practices and products that I haven\u2019t, learning a little bit about what has changed recently.<\/p>\n\n\n\n<p><span data-sheets-root=\"1\" data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Despite the rapid evolution in accounting technology, Excel remains entrenched as the default tool for year-end preparation and client working papers.&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:33727,&quot;3&quot;:{&quot;1&quot;:0},&quot;4&quot;:{&quot;1&quot;:2,&quot;2&quot;:9684093},&quot;5&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;6&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;7&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;8&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;10&quot;:1,&quot;11&quot;:4,&quot;12&quot;:0,&quot;18&quot;:1}\">Despite the rapid evolution in accounting technology, Excel remains entrenched as the default tool for year-end preparation and client working papers.<\/span> So I thought I\u2019d have a stab at writing my first blog as to why this might be and some reasons why a structured working papers tool like Silverfin can make a real difference.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p><span style=\"color: #13c5e2;\">Why Excel No. 1 &#8211; We built out these working paper templates 12 years ago<\/span><\/p>\n\n\n\n<p>I am sure you did a great job back then, I\u2019m even more certain, it was an arduous task and it is hard to let go of anything that took a lot of effort. But times change, people change, clients change, staff change, everything changes and if your software and processes don\u2019t change with it, you risk falling behind in a multitude of ways. Sticking with outdated tools like Excel for working papers is a surefire way to fall behind in efficiency, accuracy and ultimately reputation. Clients today have different requirements and expectations, the people that built your excel working papers may not even still be at your practice and those excel templates themselves may have been modified beyond recognition like a game of chinese whispers. This leaves you with a non standard way of working with multiple, inefficient, unregulated ways of working meaning that the output product can vary massively.<\/p>\n\n\n\n<p><span data-sheets-root=\"1\" data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Switching to a cloud-based platform like Silverfin addresses these challenges by:&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:33727,&quot;3&quot;:{&quot;1&quot;:0},&quot;4&quot;:{&quot;1&quot;:2,&quot;2&quot;:14281427},&quot;5&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;6&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;7&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;8&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;10&quot;:1,&quot;11&quot;:4,&quot;12&quot;:0,&quot;18&quot;:1}\">Switching to a cloud-based platform like Silverfin addresses these challenges by<\/span>:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Fed in real-time by live syncs to your clients system of record for example, Xero<\/li>\n\n\n\n<li>Pre-built workflows can be applied as the mandated process for client jobs<\/li>\n\n\n\n<li>Staff working from the same one platform environment, one set of records and client data<\/li>\n\n\n\n<li>Standardising clients transactional data by converting to a single CoA to create a uniform data set so that each client file follows the same format giving you all your data in the same \u2018language\u2019<\/li>\n\n\n\n<li>Out of the box templates are kept up to date of all legislation changes ahead of time<\/li>\n<\/ul>\n\n\n\n<p>Let me remind you, Excel is 36 years old this year! Nothing wrong with being 36 years old (as I\u2019m not far off myself) but I\u2019m certainly doing things differently than I was 30+ years ago!<\/p>\n\n\n\n<p><span style=\"font-weight: bold; color: #13c5e2;\">Why Excel No. 2 &#8211; We need the flexibility of Excel<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: normal;\"><span style=\"color: #13c5e2;\"><span style=\"color: #57758f;\">I\u2019ll be the first to agree that not every situation is the same and therefore some situations will demand a different approach. But if 90% or more of jobs can be completed the same way, does it not make sense to build a process that enforces a mandated but efficient and streamlined way of working?<\/span><\/span><\/span><\/p>\n\n\n\n<p><span style=\"color: #57758f;\">And whilst Excel can undoubtedly offer unrivalled flexibility, I think you could easily add \u2018manual\u2019 or \u2018time-consuming\u2019 or \u2018open to error\u2019 as adjectives to describe adverse side effects of too much flexibility.&nbsp;<\/span><\/p>\n\n\n\n<p><span style=\"color: #57758f;\">Silverfin customers quote on average a 30% increase in capacity through using our platform. If something could offer me a 30% time saving against 90% of the jobs I had to complete, I\u2019d certainly be interested in a conversation<\/span><\/p>\n\n\n\n<p><span style=\"color: #57758f;\">Let me remind you, Excel is 36 years old!<\/span><\/p>\n\n\n\n<p><span style=\"color: #13c5e2;\"><strong>Why Excel No. 3 &#8211; My staff are used to it<\/strong><\/span><\/p>\n\n\n\n<p>I have undoubtedly fallen foul of perhaps being a little insensitive to this and suggesting that to \u2018pull rank\u2019 is what is needed. On reflection, this is perhaps super hypocritical given that I would be the first to voice my concern of a project where I wasn\u2019t being fully brought along for the ride!<\/p>\n\n\n\n<p>A software implementation should involve a huge change management piece and it is not as simple as evaluating the technical software capabilities alone. Consideration needs to be given to &#8211;&nbsp;<span style=\"font-weight: normal;\"><span style=\"color: #13c5e2;\"><span style=\"color: #57758f;\">&nbsp;<\/span><\/span><\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Understanding your current process status quo and what you are trying to improve about it so you can effectively communicate why the change is happening &#8211; perhaps explain that Excel is 36 years old!<\/li>\n\n\n\n<li>ROI analysis<\/li>\n\n\n\n<li>Testing and training<\/li>\n\n\n\n<li>An appropriate forum for feedback<\/li>\n\n\n\n<li>How does a new solution fit in to your existing tech ecosystem<\/li>\n<\/ul>\n\n\n\n<!--HubSpot Call-to-Action Code --><span class=\"hs-cta-wrapper\" id=\"hs-cta-wrapper-70f817d1-4dfe-4dc0-ac4c-cea4fc8b9e7e\"><span class=\"hs-cta-node hs-cta-70f817d1-4dfe-4dc0-ac4c-cea4fc8b9e7e\" id=\"hs-cta-70f817d1-4dfe-4dc0-ac4c-cea4fc8b9e7e\"><!--[if lte IE 8]><div id=\"hs-cta-ie-element\"><\/div><![endif]--><a href=\"https:\/\/cta-redirect.hubspot.com\/cta\/redirect\/2270223\/70f817d1-4dfe-4dc0-ac4c-cea4fc8b9e7e\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" class=\"hs-cta-img\" id=\"hs-cta-img-70f817d1-4dfe-4dc0-ac4c-cea4fc8b9e7e\" style=\"border-width:0px;\" src=\"https:\/\/no-cache.hubspot.com\/cta\/default\/2270223\/70f817d1-4dfe-4dc0-ac4c-cea4fc8b9e7e.png\"  alt=\"Download Whitepaper now: Do you deserve more than Excel? Moving working papers beyond spreadsheets\"\/><\/a><\/span><script charset=\"utf-8\" src=\"https:\/\/js.hscta.net\/cta\/current.js\"><\/script><script type=\"text\/javascript\"> hbspt.cta.load(2270223, '70f817d1-4dfe-4dc0-ac4c-cea4fc8b9e7e', {\"useNewLoader\":\"true\",\"region\":\"na1\"}); <\/script><\/span><!-- end HubSpot Call-to-Action Code -->\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-streamlining-processes-with-cloud-based-digital-working-papers\"><span data-sheets-root=\"1\" data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Streamlining Processes with Cloud-Based Digital Working Papers&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:33727,&quot;3&quot;:{&quot;1&quot;:0},&quot;4&quot;:{&quot;1&quot;:2,&quot;2&quot;:16167531},&quot;5&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;6&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;7&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;8&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;10&quot;:1,&quot;11&quot;:4,&quot;12&quot;:0,&quot;18&quot;:1}\">Streamlining Processes with <a href=\"https:\/\/silverfin.com\/en-ie\/product\/working-papers\/\">Cloud-Based Digital Working Papers<\/a><\/span><\/h2>\n\n\n\n<p>That being said, it is a balancing act &#8211; you don&#8217;t have or weren\u2019t given the responsibility to implement change without a degree of authority but considering the above bullet points will go some way to ensuring that your colleagues and team mates are brought along as part of the journey rather than kicking and\/or screaming against it.<\/p>\n\n\n\n<p>I am super proud and have seen first hand, the expertise with which our onboarding team set up a client project for success, execute that plan flawlessly and then continue to support customers on that transformation journey post implementation to build a long lasting software partnership. Silverfin\u2019s belief that a client&#8217;s success is our success can\u2019t be understated.<\/p>\n\n\n\n<p><span style=\"font-weight: normal;\"><span style=\"color: #13c5e2;\">&nbsp;<\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>I\u2019ve been working at Silverfin for a little over 6 months now, after my brief hiatus away from the world of UK SME accountancy, and it\u2019s felt like I\u2019ve never been away. [&hellip;]<\/p>\n","protected":false},"author":94,"featured_media":96373,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[925],"tags":[880,881],"class_list":["post-96372","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-blog-en-ie","tag-uk-en-ie"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Cloud-Based Digital Working Papers vs Excel in Accounting | Silverfin IE<\/title>\n<meta name=\"description\" content=\"Explore how cloud-based digital working papers can improve efficiency and collaboration in accounting for Irish firms. 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