KEEP IT SIMPLE STUPID by Rob Farrow, SBA (www.suttoninnovation.com) The accounting strategy we recommend for small, high-tech startups is to use naturally-generated information prepared by others during the year, as an accurate source of cash-basis accounting data. This includes bank and credit card accounts, PayPal, and supplier accounts (e.g. BestBuy, Staples or Amazon) as the … Read more
Marketing vs. Reality Gap by Rob Farrow, SBA (www.the-hatchery.org) While software vendors market management insights heavily to sell subscriptions, industry usage data shows a distinct gap between marketing and adoption: The software packages constantly highlight managerial accounting value because it serves as a powerful sales pitch, even if the owner’s primary day-to-day value remains operational … Read more
Management Tool or Wishful Thinking? by Rob Farrow, SBA (www.the-hatchery.org) I’ve worked with tech startups and small businesses in Canada for decades. As a former tax auditor with Canada’s tax department, a manager and senior manager at two of Canada’s largest audit firms, and as an independent tax professional, I’ve consistently seen issues with the … Read more
According to Market Research firm Mordor Intelligence:“The accounting software market is experiencing significant growth. As of 2024, the market size is estimated to be around 27.6 billion dollars and is projected to reach 42.9 billion by 2029.” So what does that mean for Canada’s small businesses? We went to the CODAT GUIDE TO THE ACCOUNTING … Read more
These days the conventional wisdom is that you can take someone with average intelligence and buy them a QuickBooks license. Then, get them to watch a couple of YouTube videos and do the company’s books. Certainly the folks at QuickBooks (or XERO) would like you to believe that anyone can do their own books – … Read more