Prepared for Hong
Kong directors and
shareholders
As of April 2014
CLOUDIFY
YOUR FINANCE
DEPARTMENT:
INTRODUCTION
www.futurebooks.com
LAUNCH YOUR BIG IDEA
THE
PROBLEM
www.futurebooks.com
AUTOMATE TASKS
Traditional solution is to
throw more people at the
accounts department
www.futurebooks.com
THAT’SUNSCALABLE
Company growth
Cost of
accounting
(manual entry)
www.futurebooks.com
STATE OF STARTUP BOOKS
No. of startups
No books (in a shoebox) 13
Cloud accounting applications 14
Excel or other desktop applications 14
www.futurebooks.com
REDEFINE BOOKKEEPING
Stop chasing receipts
Kill bottlenecks
Automate tasks
www.futurebooks.com
FREE UP TIME FOR HIGH VALUE TASKS
Budget + forecasting
Financial analysis
Tax optimisation
www.futurebooks.com
ANALYSE CLOUD ACROSS 3 BUSINESSES
Consulting business
Restaurant business
App store business
CONCEPTS
www.futurebooks.com
ANALYSE CLOUD ACROSS 3 BUSINESSES
Stakeholders
Transaction DNA
Management accounts
www.futurebooks.com.sg
IDENTIFY YOUR STAKEHOLDERS
Stakeholders Transaction type Risk
Customer Accounts receivable (AR)
Default on payment
Customer Cash payments (Cash) Security
Supplier Accounts payable (AP) Cashflow
Staff + Government (MPF)
Payroll Penalties and staff turnover
Government (IRD) Annual filing Penalties
www.futurebooks.com.sg
#Credit, 1,000
AR, 10
AP (variable), 150
AP (fixed), 30
GST, 10
Payroll, 100
IDENTIFY YOUR STAKEHOLDERS
App store business (B2C)
Stakeholder:
staff
1500TRANSACTIONS
www.futurebooks.com
DIFFERENT ACCOUNTS
Management
accounts
Point of sale
Inventory
Forecasting
Payroll
Invoicing
Time sheeting
Report to
shareholders
DO-IT-YOURSELF
BOOKKEEPING
www.futurebooks.com.sg
SAVE 30% IN BOOKKEEPING FEES BY DOING FOUR THINGS
www.futurebooks.com.sg
#2 OPEN MAIL WEEKLY
Get comfortable File mail Toss out
www.futurebooks.com.sg
#3 PAY SUPPLIERS MONTHLY
Promote the billing
cycle to stakeholders
Make
bookkeeping day
sacred
Image as a good
paymaster
www.futurebooks.com.sg
#4 CLOUDIFY FINANCES
Put receipts and
contracts all in
one place
www.futurebooks.com
MOST TIME CONSUMING TASKS
http://futurebooks.com.sg/blog/5-useful-excel-template-sites-to-streamline-your-bookkeeping/1329
Supplier payments
Accounts receivable
Payroll
Bank reconciliation
Reporting
Cashflow
SCENARIO #1
TECH START
UP
www.futurebooks.com.sg
FLATCH LIMITED
Flatulence
containment pad
Socialise app
www.futurebooks.com.sg
BACKGROUND
Flatch was Incorporated 2009
Steady payroll in HK developing an
application
Recently pivoted and looking for more
investment
Making a loss year on year
www.futurebooks.com.sg
#Credit, 1,000
AR, 10
AP (variable), 150
AP (fixed), 30
GST, 10
Payroll, 100
STAKEHOLDERS
App store business (B2C)
Stakeholder:
staff
1500TRANSACTIONS
SCENARIO #2
MANAGEMENT
CONSULTING
FIRM
www.futurebooks.com.sg
HOOP TRAINING WORLDWIDE LIMITED
Prepare your workforce
for corporate life
www.futurebooks.com.sg
BACKGROUND
Hoop Training was incorporated 2012
Two business partners, both are ex-
corporate
Transferred existing client contracts from
their personal names to the company
Have over 10 clients
www.futurebooks.com.sg
STAKEHOLDERS
#Cash, 2
AR, 80
AP (variable), 50
AP (fixed), 50
Personal, 20
Payroll, 20
Consulting business (B2B)
Stakeholder:
customer
220TRANSACTIONS
SCENARIO #3
FINE DINING
RESTAURANT
www.futurebooks.com.sg
MR PEANUT LIMITED
Hong Kong’s new fine
dining restaurant
www.futurebooks.com.sg
BACKGROUND
Incorporated June 2013
Has not commenced trading
Currently training staff and fitting out the
outlet
Expecting to make a profit in the first
year
www.futurebooks.com.sg
#Cash, 90
AR, 10
AP (variable), 200
AP (fixed), 50
GST, 50
Payroll, 60
STAKEHOLDERS
Restaurant business (B2C)
Stakeholder:
suppliers
450TRANSACTIONSStakeholder:
staff + Govt
www.futurebooks.com
TRANSACTION COMPARISON
0 100 200 300 400 500 600
Cash
AR
AP (variable)
AP (fixed)
GST
Payroll
App store
Restaurant
Consulting
www.futurebooks.com
TERMS OF USE
Restrictions on Use of Contents
1. Except as otherwise provided, the Contents of this
Document shall not be reproduced, republished, uploaded,
posted, transmitted or otherwise distributed in any way,
without the prior permission of FUTUREBOOKS PTE LTD.
To use any parts of the Contents of this Document, the
user must seek permission in writing, stating the c
Contents for use; intent of use; manner of use; time frame
of use and identity of the user. FUTUREBOOKS PTE LTD
reserves the right to refuse permission without declaring
reason(s); and/or if information submitted by user is
deemed insufficient.
2. You may view, download and print the Contents if:
(a) the Contents are used for non-commercial or personal
use only and will not be copied or posted on any network
computer or broadcast in any media, and
(b) no alterations, additions or modifications of the
Contents are made in any way
(c) due acknowledgement is given to “FUTUREBOOKS
PTE LTD” and citing the sources for the relevant data
extracted.
3. Modification of any of the Contents or use of the
Contents for any other purpose will be a violation of
FUTUREBOOKS PTE LTD ‘s copyright and other
intellectual property rights. Graphics and images on this
Document are protected by copyright and may not be
reproduced or appropriated in any manner without written
permission of FUTUREBOOKS PTE LTD.
4. Any request to otherwise reproduce the Contents from
this Web Site for publication or commercial use should be
addressed to: [email protected].
Disclaimer of Warranties and Liability
5. The Contents of this Document are provided on an “as
is” basis without warranties of any kind. To the fullest
extent permitted by law, FUTUREBOOKS PTE LTD does
not warrant and hereby disclaims any warranty:
(a) as to the accuracy, correctness, reliability, timeliness,
non-infringement, title, merchantability or fitness for any
particular purpose of the Contents of this Document;
(b) that the Contents available through this Document or
any functions associated therewith will be uninterrupted or
error-free, or that defects will be corrected or that this
Document and the server is and will be free of all viruses
and/or other harmful elements.
6. FUTUREBOOKS PTE LTD shall also not be liable for
any damage or loss of any kind caused as a result (direct
or indirect) of the use of the Document, including but not
limited to any damage or loss suffered as a result of
reliance on the Contents contained in or available from the
Document.