Hi, I'm Abis Soetan of Greentree Investment Company. Ask me anything!

[spokentwice]

@Abis

you do not have to be an accountant to keep good records. One tip is to open a dedicated bank account for your business - no personal transactions except what you pay yourself! Your bank statement is then a clean record of your finances.

I agree that managing finance is one of the big issues with founders. Is there any software you recommend that is custom fit for startups? (I know Google Sheet and excel could do some of these financial modelling stuff pretty well)

[Abis]

@spokentwice

@Abis

you do not have to be an accountant to keep good records. One tip is to open a dedicated bank account for your business - no personal transactions except what you pay yourself! Your bank statement is then a clean record of your finances.

I agree that managing finance is one of the big issues with founders. Is there any software you recommend that is custom fit for startups? (I know Google Sheet and excel could do some of these financial modelling stuff pretty well)

Thanks for the question @spokentwise

Almost all accounting software I have come across require basic accounting knowledge to set it up, and “accounting” is complicated! Also a “profitable” company can die (run out of cash!), so as a startup I will want to go beyond recording my accounts to understanding my numbers and cash flows.

Seegad is a fantastic tool for doing this. It fits in with how the company works, but the genius of it is how it extracts and reports the business and financial information needed to grow - real time. I use it, I love it!

For accounting software WAVE is a good starting point, then as the startup builds their finance capacity xero, quickbooks or sage are all software I have used and can recommend.

[nchineme]

Just passing by and saying @Abis, brilliant answers. Well done for sharing.

[eaweb]

Plenty sense in here… My jotter go soon full sef

[Henrino3]

Wow… this is an interesting way to define traction.

Thank you very much.