OPTIMIZING FINANCIAL REPORTING IN SMALL BUSINESSES: LEVERAGING MICROSOFT EXCEL FOR EFFICIENCY AND ACCURACY

Abstract

The importance of preparing accurate and timely financial reports for Micro, Small and Medium Enterprises (MSMEs) cannot be denied in the context of effective financial management. However, MSMEs often face obstacles in compiling financial reports manually, resulting in a lack of efficiency and accuracy of financial information. The aim of this research is to explore the potential of the Microsoft Excel application in increasing the efficiency and accuracy of preparing MSME financial reports, as well as identifying best practices in implementing Excel. The research method used is a qualitative case study through in-depth interviews and direct observation of the process of preparing financial reports in MSMEs at the Bumbu Bakso Trading Company Pasar Bigung Majalaya. The research results show that effective application of Excel can increase the efficiency of the process of preparing MSME financial reports. The implication of this research is to provide practical guidance for MSMEs in utilizing information technology such as Excel for more effective financial management, as well as contributing to the development of financial management theory and practice at the MSME level.