The problem that I personally have is that you are able to manipulate the information. When you are a one man show, it is fine. But when you have someone else looking at your financial information and excel is used for analyzing, the problems can start.

I prefer using programs like ACL or CaseWare-IDEA to do these type of reporting. It is also easy to create standard scripts or programs that can be run on a regular basis. Personally I prefer ACL. Basically grew up with the software.