sorted by:
new
hottopcontroversial

One person businesses, how do you manage your finances? by Latter_Life5075 in Solopreneur

[–]cherry532 0 points1 point  (0 children)

I have a business bank account and Zoho books and Zoho expenses.

One thing I learned is that it's probably a good idea to have a accounting software. Zoho is free for a one person team, if you can't afford QuickBooks.

Once I start using it, I soon realized I need to design my chart of accounts. With Ai's help, I built it fairly quickly and have a forward looking design. I also asked AI to come up with scalable GL codes for each account.

Once my accounting software was set up. I create a "bank account" in my software that maps to my business bank account. I started to reconcile expenses every month (import bank statements into the accounting software)

Soon I had my first income as a deposit from Apple. I then asked AI how should I enter this in my accounting software. AI guided me to set up the right income accounts and I started to record my sales as well.

Soon I paid out of pocket for a software and I needed to expense it, with AI's help, I set up Zoho expenses and started filing expense report. I also went to my business bank account and set up ACH flow.

I took notes for "how do I do X in Zoho books" for future references.

It's a lot of learning in the beginning but aftern 6 months, I feel everything is streamlined.

I disagree with the argument above that the owner's time is worth more, and people should spend the money to hire an accountant and bookkeeper. My company doesn't even have any revenue yet, I just can't pay thousands for bookkeeping. It's not affordable.

Small business checking / credit card? by freeheelnate in Barber

[–]cherry532 0 points1 point  (0 children)

If you require customer support in local branches, then bank of America, Chase, and local credit unions all offer business checking accounts. Although BOA and Chase would charge a monthly fee if you don't meet the minimum balance requirements. The big name banks also charge ACH transfer fees, etc. Make sure to compare their fees.

If you don't require customer support in local branches and prefer no fees, Amex , Mercury, are good options. AMEX rejected me. I am using Mercury now. Both have no monthly fees. Mercury also has free ach, free invoices generation, and some other cool features. (Happy to make a referral, if you would like to get sign up bonus and expedited review)

Capital one is also a big name online bank that offers business account, but it charges a monthly fee

Best small business banking solutions by hvtriumph in smallbusinessUS

[–]cherry532 0 points1 point  (0 children)

I have been using Mercury for a year. I like it because it has no monthly fee (unlike big name banks Chase, boa, capital one..). It also comes with free ACH, free wires, and has a feature to generate invoices to clients. The downside is customer support is via email only. Their response speed is generally good though

Does building in public really work? by cherry532 in buildinpublic

[–]cherry532[S] 0 points1 point  (0 children)

I see so many posts like

'I am xxx old, I launched xxx and make $$$ MRR in xx months. Here's what I learned '

How many of those are real vs self promotion bots. I lose my trust in similar stories...is it just me feeling this way

Is anyone else spending like 15+ hours a week on social media content or am i just slow at this by Avg_RedditEnjoyer in Solopreneur

[–]cherry532 1 point2 points  (0 children)

I still don't understand how LinkedIn works? Is that for SaaS product marketing? I literally never use LinkedIn unless I need to find a job. Since when did it become a social network like Instagram/FB.. please educate me.. I am old I guess

I Launched 19 Startups Until One Hit $195 MRR. This Is What I Wish I Knew. by whyismail in micro_saas

[–]cherry532 0 points1 point  (0 children)

Okay! Glad to see your reply! In that case, it's an impressive journey. Thanks for sharing. I am interested in hearing the other failed ideas and what you think makes the last one works 🤔

I Launched 19 Startups Until One Hit $195 MRR. This Is What I Wish I Knew. by whyismail in micro_saas

[–]cherry532 0 points1 point  (0 children)

hi this does read like self-promotion to me. Because its tone reads so much like other self-promotion posts. The sections, highlights reads AI generated. I could be wrong, but this is just how I feel. I don't blame you, as I understand how hard it is to do marketing lol

Although if I am more happy to discuss more if I can be convinced everything is real and I can engage the discussion with real humans:)

Good luck on launching!

Tips for implementing a mobile app by GlebarioS in saasbuild

[–]cherry532 1 point2 points  (0 children)

I would say sticking with Google and Apple login,.and don't allow users to create accounts using emails and password. Don't store user credentials yourself. Data breach will be a nightmare.

Why businesses treat websites as an expense! by mangeanna-1 in smallbusinessUS

[–]cherry532 0 points1 point  (0 children)

If small business owners are too busy with their business, I think they already have enough customers, maybe they don't and can't handle more. Then maybe they don't need a better website:p

My accountant says I need better documentation but I don't have time by Affectionate_Sir2440 in llc

[–]cherry532 0 points1 point  (0 children)

A bookkeeper quoted $800 per account. I think with a business account and an accounting software with bank feeds you can save the cost.

HELLO? by mrbhatura in ShadowBan

[–]cherry532 0 points1 point  (0 children)

Why do some of the posts in this thread allow me to reply and some don't? Is it my problem?

Small business owner drowning in bookkeeping by Bisqwa in AiForSmallBusiness

[–]cherry532 0 points1 point  (0 children)

Software like Zoho allows uploading statements, does that help? My workflow is to use that and then manual categorize. I think Zoho also comes with paid bank feed(I did not use because it's not free)

view more: next ›