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With Google Sheets you will be able to simply click on the report name in the Reports Overview screen and be taken to the online spreadsheet.  With the Excel file, once you click on the report name, the report will download to your default local downloads folder on your computer.

The benefit of Google Sheets output is that it is saved online, it is easy to update, and it is easy to share with others.  Also, any filtering, formatting, or additional columns added after the last column in the report will be saved even after updating the report.

The benefit of Excel output is that there is no limit to how many cells the report may contain.  Google Sheets has a limit of 400,000 cells, a maximum of 256 columns, only 40,000 cells containing formulas, and other limitations.

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