Monday, March 29, 2010

My strange experience - accounting is fun



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.

How bizarre.

Image Credit.

6 comments:

  1. Welcome to the Brotherhood of Counters... ;)

    We like to call it Funance - sad sad accountant joke...

    Is that Saasu API integration a custom solution by @mikeee? Or is there an inbuilt autolinking function.



    Coz I will

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  2. Michael - I too hope to find that part of running my own business fun, but right now I consider you a freak of nature.

    Thanks for the heads up about Saasu too - I've been having a look at Xero which is similar.

    Cheers,
    Damon.

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  3. Haha, thanks Daniel. Details of Saasu's API are here: http://help.saasu.com/api/ Mike should have some more thoughts on how easy it was to set up.

    Damon - haha, yes it's a rather strange thing to be enjoying. I should say though, over the last few days I've been writing a contract and I have found that distinctly less enjoyable, so I suppose the 'working on your own business' thing doesn't quite make anything fun...

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  4. Cool, thanks for that. I'll have a look and would love to hear from Mike as well.

    I'm already using Saasu but for my offline biz. With the new website coming up, linking via APIs will make my life easier, I think. :)

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  5. Hi Daniel - yes, it was very easy to connect up to the API (although it does require programming knowledge). You simply send an XML request containing the sale, and it gets inserted into the database. Very simple. :)

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  6. doing other people's accounting is not so fun...as a former accountant as well, i can attest to that. its very different when its your own business. you have a responsibilty and a stake in it. good to keep an eagle eye on the numbers!

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