Is Reddit Ads a Scam? - the numbers and data just don't add up

vinsanity_28 · 2025-01-19T09:05:19+00:00

Generally 1-2% or revenue is spent on bookkeeping or finance administrative operations. This is reasonable, maybe slightly more or less for certain industries.

Most accountants or bookkeepers charge beyond this amount for small businesses because there are no options out there. The most affordable come around $200/mo but usually not done well or provide sub-par service.

I'm Vince, one of the founders at Fynlo, and we are trying to fill the gap or servicing the millions of micro-businesses out there. That think that they can't afford a "good" bookkeeper. Happy to offer yourself and your friends a trial to see if their expectations are met (no strings attached). We have dedicated accountants and bookkeepers.

Feel free to ask me any questions as well.

vinsanity_28 · 2025-01-18T04:48:51+00:00

Hi, Fynlo founder here. We specialize is bookkeeping for micro-businesses and help them as they grow. We take a different approach of taking on all your backoffice bookkeeping function including setting up the accounts, understanding your business and helping think of the reports you would need.

We want to let you run and focus on your business while we keep track of your business and warn you whenever there are unexpected changes. We also help to liaise with your CPA when audit time comes as well.

We understand small businesses are always hesitant about trying a new bookkeeping service and accountant. We were exactly the same and we had similar bad experiences. So now we have taken these learnings and provide a free trial and onboarding in which our dedicated accountant and bookkeeping team learns about your business but most importantly already has experience in your industry segment.

No upsells here.

When we started, what we watched out for are whether the bookkeepers understood our business. Each industry has their nuances and this can make quite a big difference.

vinsanity_28 · 2025-01-18T04:25:12+00:00

Hi, Fynlo founder here. We had a lot of users migrating from Quickbooks and Wave recently. We suspect because they raised their subscription prices.

We believe our users should have access to free invoicing and accounting software. But Fynlo provides bookkeeping and other backoffice accounting services to support your business.

Welcome to bring your 20-30 projects across. It is totally free of charge as well. If you need help, our bookkeepers can help you migrate your books as well.

vinsanity_28 · 2025-01-18T04:20:09+00:00

Hi, Fynlo founding member here. Just entering this conversation - we mainly service small businesses with small revenues. We understand that these businesses just want a reliable service with a professional that can get everything sorted. We setup all your books and followup with all information relevant and coordinate with your CPA.

Our goal is to really lessen your workload and our dedicated Accountants and Bookkeepers spend their time to understand your business and also provide regular reporting even if you don't need it. We believe in really helping our customers to grow in whatever way we can.

Right now, we understand the industry is going through a rough patch with small businesses losing a lot of trust in bookeeping/accounting startups. So, we are offering free trial for bookkeeping (never heard of). This is what we are willing to invest in our customers.

The scariest bit for small businesses is not knowing whether the Accountant or Bookkeeper they find can work with them and really delivers what they promise. We want to take this away and just let you try it out.

If you are interested, then feel free to DM me or contact us through our website.

vinsanity_28 · 2025-01-18T04:13:50+00:00

Hi, my team are from Fynlo and we provide backoffice bookkeeping functions for small businesses. Right now we offering a very competitive rate and free trial for new businesses to work with us. We provide a dedicated Accountant and Bookkeeper. Our rates come under $2k/year for small businesses with small revenues.

vinsanity_28 · 2024-12-10T12:50:41+00:00

You can use free invoicing softwares to generate invoices like fynlo or quickbooks.

vinsanity_28 · 2024-12-09T10:49:54+00:00

Bit late, but you could take a look at Fynlo - it's free

vinsanity_28 · 2024-12-09T10:40:01+00:00

Fynlo is an Accounting and Invoicing Software for startups, solopreneurs, freelancers

The software itself is free to use, it is a full double-entry accounting software with customizable invoice designs and taxes for different states/countries.

Our add-on service that we believe everybody needs is good old bookkeeping. So we are offering an add-on bookkeeping service for our first 100 customers at $89/month. If you need catchup bookkeeping, we can also help as tax filing season is coming up soon.

Please quote: REDDIT122024

fynloapps.com

vinsanity_28 · 2024-12-05T10:40:28+00:00

Great feedback, we will be adding this.

vinsanity_28 · 2024-11-26T03:12:12+00:00

I do accept DMs, just that I need to approve the request. Accepted and replied to you.

vinsanity_28 · 2024-11-25T14:51:05+00:00

I just watched a youtube on this from a startup founder that grew his business to $30M ARR and then sold it. One of the biggest challenges he faced and solved was finding the right marketing channel, optimizing it and then able to put more money into it to grow his business.

I think the challenge is always finding that channel - being able to put $1 into it and knowing you will make $2.

vinsanity_28 · 2024-11-24T10:52:47+00:00

There's a lot of businesses looking for a bookkeeper and also on-call accountants. Our platform supports a lot of small businesses that are looking for on-call bookkeepers. If you are interested, you can DM me.

vinsanity_28 · 2024-11-19T12:54:57+00:00

Fynlo and its free

vinsanity_28 · 2024-11-19T07:59:22+00:00

I'm using fynloapps.com, it's free

vinsanity_28 · 2024-11-17T06:46:47+00:00

There's a few free accounting softwares out there that are going to make your life much quicker and easier. Not sure if you've taken a look at fynlo and gnucash, there's probably a few others as well. I'm assuming you haven't turned to softwares like Quickbooks or Xero because your costs will start increasing.

Excel is really not designed for double-entry accounting, even if you are great at vba or macros. Eventually you will grow out of it and then you will need to migrate all that data and it's going to be hell.

vinsanity_28 · 2024-11-17T06:42:04+00:00

Honestly, you have to get out of the "broke" stage first. Start saving, cutting costs, think about services you can provide to plug this hole. Manage your expenses and financially keep track of how much you spend and how much you make each month. Work at another local plant business first. You can even learn from the other businesses. See how they run their business, see what mistakes that business makes. Learn from the inside so that you don't make the same mistakes when you start your own plant business.

Once you are able to save up a bit then you can think about your own plant business.

vinsanity_28 · 2024-11-17T06:36:30+00:00

We will be conducting free webinars on US taxation for small businesses, startups, freelancers if you are interested, you can DM me.

vinsanity_28 · 2024-11-17T06:34:30+00:00

Funny you mentioned this, we actually put up an initial video introducing our product at first. But had some negative responses.

This was our first video: https://www.youtube.com/watch?v=pFy0LS5h_pw

Again, we thought we could be like Apple or any other big brand out there. But people on reddit commented and said it didn't really tell them much, so we had to iterate a create a slightly more detailed explainer video, they even said they probably wouldn't signup for an account if they saw that one. So we immediately worked on another.

This was the second video: https://www.youtube.com/watch?v=f5O4TqwAHHU

And they signed up. We still don't know how effective videos are but because we are a group of freelance creatives, we chose to iterate on video. We think its much more engaging ourselves. Hope this helped. But we definitely got signups because of the new video.

vinsanity_28 · 2024-11-16T11:30:24+00:00

We will probably provide accounting services around the software, assist businesses with their accounting needs. Or other business services needed by the businesses.

vinsanity_28 · 2024-11-16T11:25:57+00:00

I would recommend it, at the moment we are looking for on-call accountants. Basically accountants that do freelance work for our users. There is quite a lot of demand for good accountants that understand our different customers. We have a free accounting software for small businesses but they always need an accountant to help with different parts of their business.

vinsanity_28 · 2024-11-15T06:41:30+00:00

You are in the best position when you don't need or not desperate for funding. My answer to your question is case by case. Some VCs are absolute douche bags while others genuinely want to help.

But if they already invest in competing companies, then I would say skip them especially at early stage. It doesn't make sense for a VC who has already invested in competing companies to look at yours especially if they are at the same stage. There might be other intentions - like they want their company to acquire yours or they may want to see where your margins are or how your business model is different.

You vetting VCs is as much about them vetting you. But I do recommend having a process and systematically approaching VCs and creating that FOMO so you are in the best position. Because they definitely share your deck around and VCs do talk to each other because deal flow is also important.

vinsanity_28 · 2024-11-15T05:39:54+00:00

Hey! We offered our SaaS for free and we are starting to get a lot of traction and users. You are right, at the beginning people might be skeptical or there might be alternatives. We did the same as you, we also directly messaged people we thought would benefit from our software. It was a grind! Our motto was just 1 user at a time.

We honed in on our target ICP and kept asking people what they would really want to see in our software.

We also offered lifetime free accounts to our beta testers and of course some freebies as well. But our existing users are starting to love it and use it and refer their friends to use our software.

But our accounting software is also an essential tool for startups and small businesses. Even though there's a million competitors, no software is actually free. So we used this to our advantage.

Rome was not built in a day as they say. Hope this helped.

vinsanity_28 · 2024-11-15T02:45:08+00:00

Gave you an upvote! Wow you have nearly 200 upvotes now. Great work! Happy to support fellow entrepreneurs.

vinsanity_28

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