We use Xero.com. Its considerably "less shitty" than QB was for us. But I still struggle to wrap my head around basic accounting concepts and therefore require a bookkeeper.
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LessAccounting, the Startup That Challenged QuickBooks, Sold
21–30 of 31 posts
Re: LessAccounting, the Startup That Challenged QuickBooks, Sold
#22News Summary: They used FE International to sell the LessAccounting assets to American SMB Services. Took about 6 months to close the deal all together. They declined to disclose any $ numbers, but it was an all cash up front deal. The interview is actually a really interesting interview to read.
The Wayback Machine is your friend. https://web.archive.org/web/20160127001734/http://feinternat... Third listing. A really solid, profitable business.
Yearly revenue $432,000
Yearly net profit $289,000
Asking price $950,000
Re: LessAccounting, the Startup That Challenged QuickBooks, Sold
#23For those wondering, they sold to American SMB Services.
Given that American SMD Services has 8 employees on Linkedin, I assume it was a low value deal.
According to: https://web.archive.org/web/20160127001734/http://feinternat...
Asking was $950k which I gather was the ceiling. Did they have any investors?
Re: LessAccounting, the Startup That Challenged QuickBooks, Sold
#24Interesting, I suspect this is why the interview posting went up last week but was presumably very quickly removed (before I looked at podcast episode listings and attempted to download it).
Re: LessAccounting, the Startup That Challenged QuickBooks, Sold
#25Allan and Steven are fantastic guys. Great to see them finish a successful exit.
Re: LessAccounting, the Startup That Challenged QuickBooks, Sold
#26We use Xero.com. Its considerably "less shitty" than QB was for us. But I still struggle to wrap my head around basic accounting concepts and therefore require a bookkeeper.
I love wave accounting
Re: LessAccounting, the Startup That Challenged QuickBooks, Sold
#27As a long time QuickBooks online user it should be noted that about 2 years ago QuickBooks did one of the best online reboots I've ever seen. The new website is way simpler to use and understand.
Intuit must have gotten some good web people because I've seen massive improvements in Turbotax's online product over the past couple years as well.
Re: LessAccounting, the Startup That Challenged QuickBooks, Sold
#28We use Xero.com. Its considerably "less shitty" than QB was for us. But I still struggle to wrap my head around basic accounting concepts and therefore require a bookkeeper.
If you're a programmer/CS type, then this is an excellent explanation of accounting principles in terms of graphs:
https://martin.kleppmann.com/2011/03/07/accounting-for-compu...
Re: LessAccounting, the Startup That Challenged QuickBooks, Sold
#29We use Xero.com. Its considerably "less shitty" than QB was for us. But I still struggle to wrap my head around basic accounting concepts and therefore require a bookkeeper.
Interesting product. Do they provide a native app as well?
There's a handy iOS app at least but only does on the go stuff which makes good use of your smart phone
Re: LessAccounting, the Startup That Challenged QuickBooks, Sold
#30We use Xero.com. Its considerably "less shitty" than QB was for us. But I still struggle to wrap my head around basic accounting concepts and therefore require a bookkeeper.
If you're a programmer/CS type, then this is an excellent explanation of accounting principles in terms of graphs: https://martin.kleppmann.com/2011/03/07/accounting-for-compu...
Thank you!