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Accounting 2.0. CFO's answer to painless reporting
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Accounting 2.0. CFO's answer to painless reporting

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In the first year of operation, the transaction profile of an internet start-up is dominated by accounts payable. These accounts payable transactions are easy to manage. They are large ticket items ...

In the first year of operation, the transaction profile of an internet start-up is dominated by accounts payable. These accounts payable transactions are easy to manage. They are large ticket items and often recurring like salaries and rent.

However as the business grows, the fastest growing segment of transactions becomes revenue. This is because internet start-ups are typified by high volume, micro transactions. Revenue transactions can grow to become four times larger than the rest of the transactions in the business combined, creating a reporting nightmare for the accounts department.


Read the full article here: http://futurebooks.com.sg/blog/accounting-2-0-is-the-cfos-answer-to-painless-reporting/2765

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Accounting 2.0. CFO's answer to painless reporting Accounting 2.0. CFO's answer to painless reporting Presentation Transcript

  • ACCOUNTING 2.0THE CFOs ANSWERTO PAINLESSREPORTING
  • ABOUTFUTUREBOOKS
  • WE ARE UNIQUE One of Singapore’s only accounting firms to embrace cloud computing.www.futurebooks.com.sg
  • ABOUT FUTUREBOOKS Full range of serviceswww.futurebooks.com.sg
  • ABOUT FUTUREBOOKS Help you realize your big ambitionwww.futurebooks.com.sg
  • COST OF ATRANSACTION
  • TRANSACTION PROFILE OF ANINTERNET START-UP YEAR 1 Accounts payable is the biggest segmentwww.futurebooks.com.sg
  • TRANSACTION PROFILE OF ANINTERNET START-UP YEAR 2 Accounts receivable Revenue becomes the fastest Internal costs growing transaction Third party costs segment.www.futurebooks.com.sg
  • CUSTOMERS BECOMEA HEADACHE Business with high volume, micro transactions.www.futurebooks.com.sg
  • CUSTOMERS BECOMEA HEADACHE Cost of accounting rises with revenue growth.www.futurebooks.com.sg
  • COST OF ATRANSACTION Cost of accounting for a single transaction can be as high as $3.www.futurebooks.com.sg
  • POSSIBLESOLUTIONS Real time data capture. PayPal sales data. Bank feeds. Reduce instances of manual data entry.www.futurebooks.com.sg
  • ACCOUNTING INTHE CLOUD Globally well supported with technical support and development teams.www.futurebooks.com.sg
  • LOCAL SERVICE SUPPORT 30 day free trials, video demos, chat facilities. Futurebooks can provide training, customisation and bookkeeping services.www.futurebooks.com.sg
  • HIGHLY SCALABLEPLATFORMS Be part of a scalable ecosystem.www.futurebooks.com.sg
  • STAY IN TOUCH WITHFUTUREBOOKS Email us at inquiry@futurebooks.com.sg Follow us @futureb00kswww.futurebooks.com.sg
  • TERMS OF USEwww.futurebooks.com.sg