Xero: Accounting for startups

If you’re in a startup, it can be an exciting world of creativity and innovation. But while it’s great to do something you love, you also need to make a living. So how can you live the dream and ensure your cashflow is well managed?

Startup accounting tips

In this article, a representative from third-party Pinterest marketing solution Shareroot talks to us about their tips for being a successful online marketing product. Find out how they use online technology to control their cashflow and make better business decisions.


Noah Abelson, CEO and co-founder of Shareroot

Q: How do you use software to understand the financial health of your business?

We changed from Excel to cloud software so we could see the latest figures and take advantage of the benefits of the cloud. We make the most of the robust reporting tools within the software. We log in to our accounting software online and it’s super useful to be able to see uploaded receipts, expense claims and bank account and credit card statements.

Q: As a complete third-party Pinterest marketing solution, what’s Shareroot’s number one Pinterest tip for small businesses?

Always be unique and express your company’s personality. Don’t be afraid to be who you are. We encourage a brand to have some fun with what they do and really be individual to stand out. We would also recommend not spending time and especially money on a campaign if you’re not going to see the return on investment for it. Plan your goals and map out exactly what you want to achieve.

Q: What’s a good tip for a first-timer in the tech startup space in terms of managing finances?

Move to cloud software sooner rather than later. You just can’t grow if you don’t move to something robust that can handle growing with you. We’ve been adding staff and new accounts and with that comes more complexity. Excel won’t handle growth or complexities like a strong online platform. When you make the move early it will save you so much work in the long run!

Article sourced from the Xero Small Business Guides.