Clunky, but should be ok assuming a) a pretty simple structure and cashflow b) properly implemented double-entry, and c) backups.

Accounting in a spreadsheet is scary?

Accounting of your holiday's expenses or hobby project? Sure. For a whole business and all the legal and practical obligation that entails? Nope. Not a chance. Just give me a proper accounting software so I don't have to second-guess myself at every turn as to whether my code or my interpretation of the law is correct.