How do you track your finances?
Hugo Hamel
12 replies
Recently attended a workshop, and I'm curious to know how you track your finances. Personally, I've built a custom spreadsheet, and I'm happy with that, but I'd love to see how other people are doing it.
1. Do you use a spreadsheet? Did you build it yourself? Did you buy one that was already done for you?
2. Do you use an accounting software (Quickbooks, Xero, Zoho, etc.)?
3. How do you like your current solution? Is it too complicated? Is it too overkill in terms of features for your needs?
4. What would make it better for you?
In the workshop, they recommended also using tracking tools like Mint to follow all your expenses, not just business, but also, personal.
I'd be curious to know how many other people track it all to the penny like this.
Replies
Samir Moussa@samir_moussa1
Rebank (https://www.rebanknow.com/)! If you want all your finances in one place, to be able to make very cheap payments abroad and track all your expenses, I suggest Rebank (YC19). Granted, I work there 😅 and we have fantastic customer support.
Spreadsheets are powerful (e.g. Airtable) but use them if you want to do specific calculations. Most founders are just interested in burn rate, runway and organizing expenses.
You still need accounting software (e.g. Xero) for sure as they are well suited for tax purposes.
Let me know if Rebank is a good fit for you. I can get you a discount.
P.S. I'm curious to know what workshop you attended.
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@hugohamelcom Completely resonates with me and it's why we started rebank. I work with founders with the same problem — having banks in different countries and using multiple countries. You will be able to connect both Canadian and European accounts as we support US, Canada, UK and most of EU.
@samir_moussa That was a workshop from a mastermind I am part of. The problem with most accounting software or even the same thing with Rebank is that I can't connect my bank. I'm in a special situation where I have a Canadian bank and an European one. In most cases, I can only connect one of the two, or none of them.
pray and hope for the best (on a serious note, Xero)
@pablo_fatas Well, I am sure that some people do exactly that ahah What do you like about Xero exactly? And do you feel like it has everything you need?
@hugohamelcom Sorry cannot give you too much information since this is not something I am involved with. I just know that at SigmaOS it is what Mahyad (our CEO) uses. He seems to be happy with it and has not considered anything else since using it :)
My buddy is an investment banker and he sent me the spreadsheet he built for himself. I had one previously but it was no match for his 😅
@paul_vanzandt NIce, if you're open to it, I'd love to see it :)
I actually had this problem before on tracking expenses. Since I was in between jobs, I decided to create one, and added features like who approved the expenses, etc.
Under an enterprise architecture design, the system can have multiple users under 1 main account / company account, so you can share your data with your team.
I will be launching on PH soon. Looking for beta users :) Thank you.
@reyalteedotcom Interesting, I'd be curious to look into it :)
@hugohamelcom Thank you. Here is the link https://www.producthunt.com/upco...