Collaborative Spreadsheeting : pros, cons, any tips?

Hi everyone,

I find myself in the position of managing a spreadsheet for a group of people.

They email me their updates etc and then I email them back the updated spreadsheet.

And its starting to get confusing.

I am now wondering if having the spreadsheet available to all of them is a better way to go.

I've never set this sort of thing up before, but I'm sure there is good and bad in it.

I know of google docs, is that the easiest?

I'm thinking I can go either of 2 ways.

1. they keep emailing me their changes and I update the spreadsheet which they can see but not edit.

2. I give them all edit rights and hope they don't stuff it up.

Would each person need a google account for this to work?

Any pros, cons, and tips you have to offer would be gratefully appreciated.

Please, simplicity is essential. Some of the people are not too tech savvy, even less than me!

Thanks.