Prepared for Hong
Kong directors and
shareholders
As of April 2014
CLOUDIFY
YOUR FINANCE
DEPARTMENT:
INTRODUCTION
www.futurebooks.com
LAUNCH YOUR
BIG IDEA
www.futurebooks.com
INQUIRY@
FUTUREBOOKS.
COM
www.futurebooks.com
CONTRACT TO
THESE FIRMS
www.futurebooks.com
SPEAKER
ENGAGEMENTS
THE
PROBLEM
www.futurebooks.com
WE PLAY A
GAME
CALLED FIND
THE RECEIPT
www.futurebooks.com
STOP CHASING
RECEIPTS
here
www.futurebooks.com
STOP CHASING
RECEIPTS
www.futurebooks.com
STOP CHASING
RECEIPTS
www.futurebooks.com
STOP CHASING
RECEIPTS
www.futurebooks.com
STOP CHASING
RECEIPTS
www.futurebooks.com
Manually
paste up
receipts
www.futurebooks.com
AUTOMATE
TASKS
Traditional solution is to
throw more people at the
accounts department
www.futurebooks.com
THAT’S
UNSCALABLE
Company growth
Cost of
accounting
(manual entry)
www.futurebooks.com
STATE OF
STARTUP BOOKS
No. of startups
No books (in a shoebox) 13
Cloud accounting applications 14
Exc...
www.futurebooks.com
REDEFINE
BOOKKEEPING
Stop chasing receipts
Kill bottlenecks
Automate tasks
www.futurebooks.com
FREE UP TIME FOR
HIGH VALUE TASKS
Budget + forecasting
Financial analysis
Tax optimisation
www.futurebooks.com
ANALYSE CLOUD ACROSS
3 BUSINESSES
Consulting business
Restaurant business
App store business
CONCEPTS
www.futurebooks.com
ANALYSE CLOUD ACROSS
3 BUSINESSES
Stakeholders
Transaction DNA
Management accounts
www.futurebooks.com.sg
IDENTIFY YOUR
STAKEHOLDERS
Stakeholders Transaction type Risk
Customer Accounts receivable
(AR)
Def...
www.futurebooks.com.sg
#Credit,
1,000
AR, 10
AP (variable),
150
AP (fixed), 30
GST, 10
Payroll,
100
IDENTIFY YOUR
STAKEHOL...
www.futurebooks.com
DIFFERENT
ACCOUNTS
Management
accounts
Point of sale
Inventory
Forecasting
Payroll
Invoicing
Time shee...
www.futurebooks.com
MANAGEMENT
ACCOUNTS
www.futurebooks.com
OTHER
ACCOUNTS
Bank rec Expenses Payroll
www.futurebooks.com
DIFFERENT
ACCOUNTS
InventoryInvoicing
DO-IT-YOURSELF
BOOKKEEPING
www.futurebooks.com.sg
SAVE 30% IN
BOOKKEEPING
FEES BY DOING
FOUR THINGS
www.futurebooks.com.sg
#1 OPEN A CORPORATE
BANK ACCOUNT
www.futurebooks.com.sg
#2 OPEN MAIL
WEEKLY
Get comfortable File mail Toss out
www.futurebooks.com.sg
#3 PAY SUPPLIERS
MONTHLY
Promote the billing
cycle to stakeholders
Make
bookkeeping day
sacred
Imag...
www.futurebooks.com.sg
#4 CLOUDIFY
FINANCES
Put receipts and
contracts all in
one place
www.futurebooks.com
MOST TIME
CONSUMING TASKS
http://futurebooks.com.sg/blog/5-useful-excel-template-
sites-to-streamline-...
SCENARIO #1
TECH START
UP
www.futurebooks.com.sg
FLATCH
LIMITED
Flatulence
containment pad
Socialise app
www.futurebooks.com.sg
BACKGROUND
Flatch was Incorporated 2009
Steady payroll in HK developing an
application
Recently piv...
www.futurebooks.com.sg
#Credit,
1,000
AR, 10
AP (variable),
150
AP (fixed), 30
GST, 10
Payroll,
100
STAKEHOLDERS
App store...
www.futurebooks.com.sg
REQUIREMENTS
SCENARIO #2
MANAGEMENT
CONSULTING
FIRM
www.futurebooks.com.sg
HOOP TRAINING
WORLDWIDE LIMITED
Prepare your workforce
for corporate life
www.futurebooks.com.sg
BACKGROUND
Hoop Training was incorporated 2012
Two business partners, both are ex-
corporate
Transf...
www.futurebooks.com.sg
STAKEHOLDERS
#Cash, 2
AR,
80
AP (variable),
50
AP (fixed),
50
Personal,
20
Payroll,
20
Consulting b...
www.futurebooks.com.sg
REQUIREMENTS
SCENARIO #3
FINE DINING
RESTAURANT
www.futurebooks.com.sg
MR PEANUT
LIMITED
Hong Kong’s new fine
dining restaurant
www.futurebooks.com.sg
BACKGROUND
Incorporated June 2013
Has not commenced trading
Currently training staff and fitting ou...
www.futurebooks.com.sg
#Cash,
90
AR, 10
AP (variable),
200
AP (fixed),
50
GST,
50
Payroll,
60
STAKEHOLDERS
Restaurant busi...
www.futurebooks.com.sg
REQUIREMENTS
www.futurebooks.com
INQUIRY@
FUTUREBOOKS.
COM
www.futurebooks.com
TRANSACTION
COMPARISON
0 100 200 300 400 500 600
Cash
AR
AP (variable)
AP (fixed)
GST
Payroll
App stor...
www.futurebooks.com
TERMS OF USE
Restrictions on Use of Contents
1. Except as otherwise provided, the Contents of this
Doc...
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Fly paperless with cloud finance

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Everything a director of a startup should know about how to cloudify their bookkeeping.

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Fly paperless with cloud finance

  1. 1. Prepared for Hong Kong directors and shareholders As of April 2014 CLOUDIFY YOUR FINANCE DEPARTMENT: INTRODUCTION
  2. 2. www.futurebooks.com LAUNCH YOUR BIG IDEA
  3. 3. www.futurebooks.com INQUIRY@ FUTUREBOOKS. COM
  4. 4. www.futurebooks.com CONTRACT TO THESE FIRMS
  5. 5. www.futurebooks.com SPEAKER ENGAGEMENTS
  6. 6. THE PROBLEM
  7. 7. www.futurebooks.com WE PLAY A GAME CALLED FIND THE RECEIPT
  8. 8. www.futurebooks.com STOP CHASING RECEIPTS here
  9. 9. www.futurebooks.com STOP CHASING RECEIPTS
  10. 10. www.futurebooks.com STOP CHASING RECEIPTS
  11. 11. www.futurebooks.com STOP CHASING RECEIPTS
  12. 12. www.futurebooks.com STOP CHASING RECEIPTS
  13. 13. www.futurebooks.com Manually paste up receipts
  14. 14. www.futurebooks.com AUTOMATE TASKS Traditional solution is to throw more people at the accounts department
  15. 15. www.futurebooks.com THAT’S UNSCALABLE Company growth Cost of accounting (manual entry)
  16. 16. www.futurebooks.com STATE OF STARTUP BOOKS No. of startups No books (in a shoebox) 13 Cloud accounting applications 14 Excel or other desktop applications 14
  17. 17. www.futurebooks.com REDEFINE BOOKKEEPING Stop chasing receipts Kill bottlenecks Automate tasks
  18. 18. www.futurebooks.com FREE UP TIME FOR HIGH VALUE TASKS Budget + forecasting Financial analysis Tax optimisation
  19. 19. www.futurebooks.com ANALYSE CLOUD ACROSS 3 BUSINESSES Consulting business Restaurant business App store business
  20. 20. CONCEPTS
  21. 21. www.futurebooks.com ANALYSE CLOUD ACROSS 3 BUSINESSES Stakeholders Transaction DNA Management accounts
  22. 22. www.futurebooks.com.sg IDENTIFY YOUR STAKEHOLDERS Stakeholders Transaction type Risk Customer Accounts receivable (AR) Default on payment Customer Cash payments (Cash) Security Supplier Accounts payable (AP) Cashflow Staff + Government (MPF) Payroll Penalties and staff turnover Government (IRD) Annual filing Penalties
  23. 23. www.futurebooks.com.sg #Credit, 1,000 AR, 10 AP (variable), 150 AP (fixed), 30 GST, 10 Payroll, 100 IDENTIFY YOUR STAKEHOLDERS App store business (B2C) Stakeholder: staff 1500 TRANSACTIONS
  24. 24. www.futurebooks.com DIFFERENT ACCOUNTS Management accounts Point of sale Inventory Forecasting Payroll Invoicing Time sheeting Report to shareholders
  25. 25. www.futurebooks.com MANAGEMENT ACCOUNTS
  26. 26. www.futurebooks.com OTHER ACCOUNTS Bank rec Expenses Payroll
  27. 27. www.futurebooks.com DIFFERENT ACCOUNTS InventoryInvoicing
  28. 28. DO-IT-YOURSELF BOOKKEEPING
  29. 29. www.futurebooks.com.sg SAVE 30% IN BOOKKEEPING FEES BY DOING FOUR THINGS
  30. 30. www.futurebooks.com.sg #1 OPEN A CORPORATE BANK ACCOUNT
  31. 31. www.futurebooks.com.sg #2 OPEN MAIL WEEKLY Get comfortable File mail Toss out
  32. 32. www.futurebooks.com.sg #3 PAY SUPPLIERS MONTHLY Promote the billing cycle to stakeholders Make bookkeeping day sacred Image as a good paymaster
  33. 33. www.futurebooks.com.sg #4 CLOUDIFY FINANCES Put receipts and contracts all in one place
  34. 34. www.futurebooks.com MOST TIME CONSUMING TASKS http://futurebooks.com.sg/blog/5-useful-excel-template- sites-to-streamline-your-bookkeeping/1329 Supplier payments Accounts receivable Payroll Bank reconciliation Reporting Cashflow
  35. 35. SCENARIO #1 TECH START UP
  36. 36. www.futurebooks.com.sg FLATCH LIMITED Flatulence containment pad Socialise app
  37. 37. www.futurebooks.com.sg BACKGROUND Flatch was Incorporated 2009 Steady payroll in HK developing an application Recently pivoted and looking for more investment Making a loss year on year
  38. 38. www.futurebooks.com.sg #Credit, 1,000 AR, 10 AP (variable), 150 AP (fixed), 30 GST, 10 Payroll, 100 STAKEHOLDERS App store business (B2C) Stakeholder: staff 1500 TRANSACTIONS
  39. 39. www.futurebooks.com.sg REQUIREMENTS
  40. 40. SCENARIO #2 MANAGEMENT CONSULTING FIRM
  41. 41. www.futurebooks.com.sg HOOP TRAINING WORLDWIDE LIMITED Prepare your workforce for corporate life
  42. 42. www.futurebooks.com.sg BACKGROUND Hoop Training was incorporated 2012 Two business partners, both are ex- corporate Transferred existing client contracts from their personal names to the company Have over 10 clients
  43. 43. www.futurebooks.com.sg STAKEHOLDERS #Cash, 2 AR, 80 AP (variable), 50 AP (fixed), 50 Personal, 20 Payroll, 20 Consulting business (B2B) Stakeholder: customer 220 TRANSACTIONS
  44. 44. www.futurebooks.com.sg REQUIREMENTS
  45. 45. SCENARIO #3 FINE DINING RESTAURANT
  46. 46. www.futurebooks.com.sg MR PEANUT LIMITED Hong Kong’s new fine dining restaurant
  47. 47. www.futurebooks.com.sg BACKGROUND Incorporated June 2013 Has not commenced trading Currently training staff and fitting out the outlet Expecting to make a profit in the first year
  48. 48. www.futurebooks.com.sg #Cash, 90 AR, 10 AP (variable), 200 AP (fixed), 50 GST, 50 Payroll, 60 STAKEHOLDERS Restaurant business (B2C) Stakeholder: suppliers 450 TRANSACTIONSStakeholder: staff + Govt
  49. 49. www.futurebooks.com.sg REQUIREMENTS
  50. 50. www.futurebooks.com INQUIRY@ FUTUREBOOKS. COM
  51. 51. www.futurebooks.com TRANSACTION COMPARISON 0 100 200 300 400 500 600 Cash AR AP (variable) AP (fixed) GST Payroll App store Restaurant Consulting
  52. 52. www.futurebooks.com TERMS OF USE Restrictions on Use of Contents 1. Except as otherwise provided, the Contents of this Document shall not be reproduced, republished, uploaded, posted, transmitted or otherwise distributed in any way, without the prior permission of FUTUREBOOKS PTE LTD. To use any parts of the Contents of this Document, the user must seek permission in writing, stating the c Contents for use; intent of use; manner of use; time frame of use and identity of the user. FUTUREBOOKS PTE LTD reserves the right to refuse permission without declaring reason(s); and/or if information submitted by user is deemed insufficient. 2. You may view, download and print the Contents if: (a) the Contents are used for non-commercial or personal use only and will not be copied or posted on any network computer or broadcast in any media, and (b) no alterations, additions or modifications of the Contents are made in any way (c) due acknowledgement is given to “FUTUREBOOKS PTE LTD” and citing the sources for the relevant data extracted. 3. Modification of any of the Contents or use of the Contents for any other purpose will be a violation of FUTUREBOOKS PTE LTD ‘s copyright and other intellectual property rights. Graphics and images on this Document are protected by copyright and may not be reproduced or appropriated in any manner without written permission of FUTUREBOOKS PTE LTD. 4. Any request to otherwise reproduce the Contents from this Web Site for publication or commercial use should be addressed to: info@futurebooks.com.sg. Disclaimer of Warranties and Liability 5. The Contents of this Document are provided on an “as is” basis without warranties of any kind. To the fullest extent permitted by law, FUTUREBOOKS PTE LTD does not warrant and hereby disclaims any warranty: (a) as to the accuracy, correctness, reliability, timeliness, non-infringement, title, merchantability or fitness for any particular purpose of the Contents of this Document; (b) that the Contents available through this Document or any functions associated therewith will be uninterrupted or error-free, or that defects will be corrected or that this Document and the server is and will be free of all viruses and/or other harmful elements. 6. FUTUREBOOKS PTE LTD shall also not be liable for any damage or loss of any kind caused as a result (direct or indirect) of the use of the Document, including but not limited to any damage or loss suffered as a result of reliance on the Contents contained in or available from the Document.

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