Dedicated domain management applications have a number of advantages of over a normal spreadsheet.
Spreadsheets vs Dedicated Applications for Domain Name Management
A spreadsheet can never match the benefits of using a dedicated domain portfolio management application for a number of reasons.
The features mentioned here may not be uniformly available all the software products. Please check the product comparison table before you decide the software you want. Watch My Domains SED would be the ideal choice if you need almost all the features.