What are the differences between MS Word and MS Excel. Have any other software without MS Excel to make a Balance Sheet?

MS Word is used for presentation of data comprising of text, pictures, symbols, hyperlinks, objects . etc etc but does not include any data processing like formulas  etc. which the excel can do.

You have many premium accounting softwares whihc can be used to prepare Balance sheet, like Tally ERP.

Microsoft Excel and Microsoft Word are two software programs in the Microsoft Office suite. Though they are made to work together, they each have different strengths. Word is first and foremost a word processor, while Excel is primarily for numeric calculations.

MS Excel used for reviewing data, make grids, and to compare things. MS Word is obviously a program for writing documents with text and pictures.

In today's engineering trend, there are softwares which is primarily designed to support making BS..