Launch HN: Modernbanc (YC W20) – Modern and fast accounting software • Hacker News Board

Re: Launch HN: Modernbanc (YC W20) – Modern and fast accounting software

#21

Post by gregorygev » Wed, Mar 19, 2025, 6:10 PM UTC

niteshpant wrote: post #17

very curious - why did it take you 5 years to launch post YC? (It says W20 batch)

this is our 3rd pivot :) we've launched other products before such as Ledger API processing over $100m in txn volume a month and a PCI vault for fintechs with 1m+ users. However we took a hard decision to pivot again as we didn't feel like we'd achieve the impact we wanted in those markets.

Re: Launch HN: Modernbanc (YC W20) – Modern and fast accounting software

#22

Post by rexreed » Wed, Mar 19, 2025, 6:13 PM UTC

I migrated from Quickbooks to Manager.io and haven't looked back. It keeps getting better and stronger, and is desktop based (free) with a cloud-based version as well (paid) and well supported: https://www.manager.io/

Re: Launch HN: Modernbanc (YC W20) – Modern and fast accounting software

#23

Post by adepoju593 » Wed, Mar 19, 2025, 6:51 PM UTC

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Re: Launch HN: Modernbanc (YC W20) – Modern and fast accounting software

#24

Post by anteloper » Wed, Mar 19, 2025, 6:55 PM UTC

Honestly so excited to see this type of software move to the browser in general. I use Puzzle.io and love it

Re: Launch HN: Modernbanc (YC W20) – Modern and fast accounting software

#25

Post by singhrac » Wed, Mar 19, 2025, 6:57 PM UTC

Do you have a roadmap? I'm interested (love Linear, hate Quickbooks/Xero, looking for something better, finances are not that complicated) but I want to know what is planned and what is supported now.

Re: Launch HN: Modernbanc (YC W20) – Modern and fast accounting software

#26

Post by chrisvalleybay » Wed, Mar 19, 2025, 7:05 PM UTC

Congratulations on the launch! Just a question; what library are you using for the spreadsheet? Looks great!

Re: Launch HN: Modernbanc (YC W20) – Modern and fast accounting software

#27

Post by ketamine » Wed, Mar 19, 2025, 7:05 PM UTC

How do track errors with the AI? Is it up to me as a user to flag them or do you have a review process or have different models confirm the same outcome?

Re: Launch HN: Modernbanc (YC W20) – Modern and fast accounting software

#28

Post by danielvanacker » Wed, Mar 19, 2025, 7:10 PM UTC

chrisvalleybay wrote: post #26

Congratulations on the launch! Just a question; what library are you using for the spreadsheet? Looks great!

Thanks I'll pass that along to JT (engineer behind the spreadsheet)! We're using https://pixijs.com/

Re: Launch HN: Modernbanc (YC W20) – Modern and fast accounting software

#29

Post by WorldMaker » Wed, Mar 19, 2025, 7:10 PM UTC

> It even includes a built-in spreadsheet so you’re never limited in reporting.

That may be your next pivot, if you are not careful, or maybe if you are.

I did two semesters in college interning on an application like this which did not survive, and one of the things that kept coming up in comparables was that the biggest competition was not Quickbooks, the biggest competition for small/medium sized business accounting has always been Excel.

The product I worked on thought it could succeed with deep Excel integration, both imports and reporting, and possibly even being installed right next to Excel out of the same box. In the end, Excel won and the product was axed, because of course Excel won (even despite the product working to diversify its revenue to moat its budget in interesting ways).

Re: Launch HN: Modernbanc (YC W20) – Modern and fast accounting software

#30

Post by danielvanacker » Wed, Mar 19, 2025, 7:12 PM UTC

singhrac wrote: post #25

Do you have a roadmap? I'm interested (love Linear, hate Quickbooks/Xero, looking for something better, finances are not that complicated) but I want to know what is planned and what is supported now.

Great question, we don't have an official roadmap but over the next few months we'll likely ship: magic inbox (auto linking receipts/invoices/etc... to transactions, payroll/hr integrations, e-commerce integrations). We're also focusing heavily on the AI functionality (getting it to do much more than just bookkeeping and generating reports). The roadmap is heavily customer influenced, are there any critical features you're looking for?