Bridging the Gap: Addressing the Discontent with Current Accounting Software
Hello, I’m Ben, and I’m reaching out to those who find themselves unsatisfied with the status quo of Accounting Software. It’s become apparent that QuickBooks Desktop (QBD) has been somewhat sidelined, and there’s a significant frustration with QuickBooks Online (QBO) among the community.
As a software developer, I’ve spent the last five years navigating the routine corporate landscape, and frankly, I’m ready for a change. I’ve been contemplating the idea of developing a new Accounting desktop software tailored specifically for businesses in the United States, given my familiarity with domestic regulations.
Here’s where I need your input:
Essential Features:
- General Ledger: A comprehensive record-keeping system is non-negotiable.
- Double Entry Accounting: The backbone of accuracy and reliability.
- Income Statements: Vital for tracking financial performance.
- Balance Sheets: Crucial for assessing financial health.
Features to Avoid:
- Cloud-based Solutions: I get it, sometimes local storage just feels safer.
- Subscription Models: One-time payments should suffice.
Your Preferences:
- What operating systems do you predominantly use?
- How would you like the pricing to be structured?
If there’s enough interest and feedback, I’m keen to start designing the user interface right away. Who knows, a prototype could be just a few weeks away! Share your thoughts, and let’s see if we can build something truly valuable together.
One response
Hi Ben,
Thank you for your courage to consider leaping into the development of Accounting Software. As a developer with an interest in addressing pain points within the Accounting world, your approach is both timely and refreshing. It seems you’ve already assessed some critical needs, but let’s dive deeper into the nuances to equip you with a better understanding of what could make your offering valuable and competitive.
Must-Have Features:
You’ve rightly identified these as core foundations. Ensure the software supports multi-currency operations if possible, as even U.S.-based businesses might have international dealings.
Financial Statements:
Besides income statements and balance sheets, consider including cash flow statements and the ability to customize reports. Customization allows companies to tailor reports according to specific management needs.
User Permissions & Access Control:
Robust security features and user role management ensure sensitive financial data is accessible only to authorized personnel. This becomes indispensable for mid-to-large organizations.
Reconciliation Tools:
Tools that assist with bank and credit card reconciliation can significantly enhance the software’s utility, lightening a common and often stressful burden of the accounting profession.
Audit Trail:
Additional Features Worth Considering:
Offering features that simplify tax calculations and assist with e-filing can provide immense value, aligning with federal and state requirements.
Invoice and Billing Management:
Integrated invoicing capabilities that track sales, expenses, and manage payable/receivable accounts are integral for many businesses.
Integration Capabilities:
User Preferences:
Given your emphasis on a local-only solution without a subscription model, it’s clear you’re targeting businesses or users who prioritize control and cost predictability. There is indeed a market for this, but here are some considerations:
A one-time purchase fee or a tiered licensing system might work well. Consider offering free trials or demo versions to attract users and prove the software’s worth.
Operating Systems: