1 answer

Peter Connor Staff September 8, 2016

We can delete it for you. We keep it as an admin service incase of accidental deletion of finances. I’ll get your account deleted tonight. 
Can I ask why you’re leaving?
Thanks Pete

  1. thanks much!
  2. sorry pete,
    i missed your question about why i was leaving. here you go:
    i am seeking a greater degree of flexibility in the setting up of the chart of accounts. i am looking for something that will give me a clean slate to start with and build up the accounts structure as i would like them to be. i am currently using quickbooks for my business in India and i am darned frustrated on this score with them. they hem you in into a predefined structure that does not flow with your needs.
    you guys are onto something with bullet. your UI is killer. you have mostly nailed it especially for folks who are not into bean counting. having said that, can i take the liberty of offering my two cents' worth unsolicited?
    in the people section, you could add another category for shareholders. and match them up to the equity accounts. for example, when X buys 1000 shares in the company at $1 each, such a provision can capture shareholder transactions and BTL transactions very efficiently. no one is doing that currently.
    i have been following this space very closely for the last few years. i also use wave for my business in the USA. if you need any inputs in the UX of your product do let me know.
    carpe diem,
  3. Peter Connor September 8, 2016
    That's great feedback. Let me explain a bit about Bullet. You're right it's designed for those who don't understand accounts, but.
    So we've taken the most common actions a user does and created workflows around them. For power users (like yourself) you can use our manual journal entries to create as you wish. I created a video for you here to show you where they are.
    Bullet is pretty much the same spec as Xero with more. We're a full double entry multi currency to the bank account accounting product. With automated workflows that understand the accounting logic. The product produces a full set of accounting management reports. As well as lots of other stuff.

    So it should do everything the power user wants to do as well as the novice.
    We didn't create a workflow for shareholders as most companies with shareholders will probably be funded or have an accountant, the accountant understands journal entries and therefore doesn't need a workflow (you hope).
    I hope that answers some of your questions. Don't be fooled by our simplicity.
    I'd love to get your 2cents on UX?
    I'd love to know how you find Wave?
  4. Peter Connor September 8, 2016
    Hi, Those companies are deleted for you now.
    Thanks and looking forward to your feedback.
  5. i absolutely love your simplicity, it's great. in fact i have been nurturing an itch since 2007 to do something in this space for the indian consumer market. my company might take a stab at it (in the personal accounting space) sometime after june 2017. we have our hands full with work we are currently doing for our clients in the UK. there is a great opportunity in the financial planning space as well. so a money manager and a financial planner can be both offered as separate products that have a symbiotic link.
    my observations on wave are that they are pretty darned good for a free product. if only they streamlined their flows better (sigh). i am highlighting a few below:
    1. for all the transactions that get imported into wave, i have to go to a dropdown menu to pick the related party. my screencast is here http://recordit.co/VqFGg2wmT5. they can have that option right at the main txn level itself. i should not have to drop down for every income and expense transaction.
    2. journal posting options is buried under so many clicks. the option to enter a journal txn can sit right alongside the add income / expense option at the top of the screen. http://recordit.co/axH7lwyy6u
    3. if i pull up a report for all purchases from a vendor, say a computer store, it lists only the revenue expenses (items in the expense accounts). any assets i buy (say a computer from best buy) won't show up in the report. they have set up their vendors to match only with expense accounts. in the real world you have vendors supplying you capital goods as well.
    i wish i was in the room when they were putting this together. at least, they are not intuit :)
    carpe diem,
  6. i missed mentioning one fantastic thing about wave. check out their ToS: https://my.waveapps.com/terms/. clearly they love their customers enough to clarify to them the legalese.
    also, give buxfer a spin if you get a chance. it's a pretty cool personal finance tool.
    carpe diem,
  7. Peter Connor September 8, 2016
    Good points.
    Point 1 could be easier to do, your right on the steps.
    I think 99% of people don't care about point 2, we never ever get asked about journal entries and we hide them under accounting tools to stop people messing with them.
    I think 3 is happening cause you want to alter the flow of the journal accounts. Most people wouldn't do that. If fact people care so little there are lots of cash flow reports we'd love to create but we can't because people just dump stuff into accounts. They don't care.
    Terms, again 99% people don't care.
    We're 6 years building Bullet, they're not easy to build. Just make sure you don't build an accounting product that works for you and only you. We're looking to build an accounting product that people don't ever use. It just automates everything. That's because people don't care it one bit about what expense account is used for xyz. People just want to see money coming in the door.
    2 questions.
    Bullet V's Wave what's your thoughts?
    If you like controlling your accounts why aren't you using Xero?
    Thanks again. Great feedback.

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