Luca Pacioli introduced the idea of bookkeeping with the medieval Venetian accounting in the 15th century. He inadvertently got the merchants of Venice to adapt to the demands of the industrial age. Since then, he is often referred to as the Father of Accounting and Bookkeeping.
Accounting and bookkeeping has since been an age old practice for businesses. And over the years, it has moved from offline to online. But the question remains - when should you start worrying about accounting for your business? As an early stage company, or when you grow into an SMB or as an enterprise business, when should accounting become part of your business activities?
The answer is, right from the absolute beginning.
From a grocery shop owner, to a fashion entrepreneur. From an eCommerce wiz to a vegetable vendor. From a small app-based business, to a large SaaS enterprise. Everyone needs to keep track of the money that is flowing in and out of their businesses. Accounting is essential.
So we started the eBook with the idea of writing a simple post on the how-to’s of accounting in the SaaS world, to make the accountant as well as the founder-who-doubles-up-as-an-accountant’s life easier.
We thought it was time we delved deeper into the basics (and not-so-basic) of SaaS Accounting for those breaking their heads with bookkeeping nightmares.
We have tried to gather all the tacit knowledge from our international finance team, product domain experts and the best practices to put together the basics of SaaS account.
Hope you enjoy reading this as much as we did writing it!
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