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

news.ycombinator.com

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

#111

Post by rad_gruchalski »

samdung wrote: post #106
pierotofy wrote: post #86

Here's what I'd want from accounting software; a credible exit strategy that if you go bankrupt or decide that you need to tweak your pricing too much, I can take my data and run it on my own infrastructure. Have you thought about an open source business model? Even just offer the basic platform as open source (e.g. keep the AI stuff proprietary). Also, your pricing is too high; Xero offers a more generous starter pl…

I can't help but recommend an accounting software called Manager ( https://www.manager.io/ ). You install it on your computer and its free. It's probably the most beautifully designed accounting software i have come across. They also have a cloud version. I first came across Manager about 5 years ago and wanted my accountants to use it. However they chose Xero because they were 'used to Xero'. I still have Manager in…

It’s a closed-source software managed by a single person who appears to be residing in Australia. I’m not surprised your accountants didn’t want to use it.

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

#113

Post by gregorygev »

shrisukhani wrote: post #112

This looks really neat. Curious if you can say anything on how it's different from puzzle.io?

Hey - puzzle looks interesting. I’d say we focus a lot on simplicity and flexible reporting, we have a built-in real-time spreadsheet so you’re able to put the kind of report that matters to you as a founder rather than the one one we force you to look at.

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

#116

Post by financetechbro »

danielvanacker wrote: post #34
WorldMaker wrote: post #29

> 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 accounti…

That's a great point and was actually what led to the pivot to accounting software. We originally tried to make this just a reporting tool (aggregate financial sources, think equals.com) but came to the same realisation that it was hard to get people to switch from Excel. In this product the sheet is not the product, just a feature

Just spent some time on the website. Actually looks like a really neat product. Biggest downfall is that it doesn’t offer connections _to_ spreadsheets (unless I missed that). I work in FS, we try to make dashboards with excel but it’s difficult to have a template that works across all types of client data. I think equals could be a powerful solution to that

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

#117

Post by gregorygev »

samtuke wrote: post #115

This concept sounds great. I despise Xero, and felt the same about QuickBooks before it. "Linear for accounting" basically already has me sold. Just please make it work for UK companies some time (from a YC22 Founder).

Currently the goal is to make the product awesome for our initial markets (US/Canada) but UK will be supported soon after we believe

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

#118

Post by gregorygev »

conductr wrote: post #107
pcthrowaway wrote: post #94

Earlier quoted context omitted.

I think you're missing the point. They're not necessarily sold on signing up, because the choice of 14 days for the trial period is off-putting. It's nice that you're offering a longer trial period for people who specially request it, but what they're saying (which I 100% agree with, and am also not in the market for accounting software, to be clear) is that you're likely to lose out significantly with such a short p…

This is the correct takeaway from my comment. While kind of you, I wasn't fishing for a longer trial offer or even in the market for this solution. I was pointing out how a short trial preemptively narrows your top of funnel in terms of signup conversion. If you believe in your software/company, you should be prioritizing signups because you believe you will be able to convert them eventually. If you give the user ti…

We extended the trial period to 30 days now.

The original intent behind 14 days was to force a deadline onto user to get set-up properly and realize value of the product. (Seeing their financials in real-time)

Though the comment above justifiably mentioned that some folks might want an entire accounting period to run books in parallel while evaluating. We'll keep looking into this.

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