Monday, March 29, 2010
I've had a strange experience over the past week. I've been enjoying accounting.
I studied Commerce and Law at University and for my Commerce degree I took all the accounting electives. I hated them. I couldn't get motivated and while I managed to scam enough good notes off my friends to get ok grades I didn't enjoy it one bit. I shouldn't have needed clarification but I did a summer clerkship at PriceWaterhouseCoopers and realised I was not cut out to be an accountant. At all.
As we've mentioned earlier we've been using Saasu as our accounting software and it's great. Mike's linked our site with Saasu's API, and we've done some semi diligent tracking of our expenses so about 90% of our sales and expenses are already in Saasu without any problems. The 10% we haven't tracked properly were tricky transactions like customers paying in US dollars or UK pounds, customer bank transfers and multi-currency transactions like sending money from our Australian to our Chinese Bank account to pay suppliers. I'd been dreading sorting these out but recently decided it was time.
And I've discovered it's fun! Never in my wildest dreams did I think doing a bank reconciliation would be something I would get excited about. But ticking off each of those transactions feels good. And deciding which of Saasu's many options for recording a multi-currency transaction will work best for us is interesting.
The only thing I can put this down to is working on our own business. I'm pretty sure I would have hated doing a bank rec. for my past employers, Supercheap Auto or Google. But I'm so keen to see what our numbers are going to look like when I'm finished that I don't mind doing very detailed, repetitive tasks which are not normally my thing.
Posted by Michael Fox at 6:33 PM