In the first year of operation, the transaction profile of an internet start-up is dominated by accounts payable. These accounts payable transactions are easy to manage. They are large ticket items and often recurring like salaries and rent. However as the business grows, the fastest growing segment of transactions becomes revenue. This is because internet start-ups are typified by high volume, micro transactions. Revenue transactions can grow to become four times larger than the rest of the transactions in the business combined, creating a reporting nightmare for the accounts department. Read the full article here: http://futurebooks.com.sg/blog/accounting-2-0-is-the-cfos-answer-to-painless-reporting/2765

1. ACCOUNTING 2.0
THE CFOs ANSWER
TO PAINLESS
REPORTING

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6. COST OF A
TRANSACTION

7. TRANSACTION PROFILE OF AN
INTERNET START-UP YEAR 1
Accounts payable is the
biggest segment
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8. TRANSACTION PROFILE OF AN
INTERNET START-UP YEAR 2
Accounts receivable
Revenue becomes the fastest
Internal costs growing transaction
Third party costs segment.
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9. CUSTOMERS BECOME
A HEADACHE
Business with high
volume, micro
transactions.
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10. CUSTOMERS BECOME
A HEADACHE
Cost of accounting rises
with revenue growth.
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11. COST OF A
TRANSACTION
Cost of accounting for a
single transaction can be
as high as $3.
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12. POSSIBLE
SOLUTIONS
Real time data capture.
PayPal sales data. Bank
feeds.
Reduce instances of
manual data entry.
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