It also adds output as Tiff and HTML as other options.
You will find though that the standard reports in ACT! are not particularly useful as it embeds all the content of the report into excel. This includes images and other text and formatting that you probably don't want if your purpose is to perform calculations in the spreadsheets that you create. You'll see what I mean.
If you want to perform calculations on report data I'd recommend making very simple purpose built reports with no formatting.
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