Financial Tools For Startups You Don’t Want To Ignore!
- Xero is an accounting system online for small to medium sized businesses. The company headquarters is in Wellington, New Zealand. Xero was founded by Rod Drury and has offices in Africa, Australia, Europe, and North America. They have affordable pricing plans which include three options: early, growing, and established. The early plan is $9 per month and you can send 5 invoices and quotes, enter 5 bills, and reconcile 20 bank transactions. The growing plan is for $30 per month and you can send unlimited invoices and quotes, enter as many bills as you want, and have unlimited bank transactions. Finally, the established plan is for $60 per month where you can send unlimited invoices and quotes, enter unlimited amount of bills, unlimited bank transactions, have multi-currency, expenses where you can capture and manage claims, and projects where you can track project time and costs. They also have a free trial so don’t worry about paying immediately.
2. Startup Financial Model
- Startup Financial Model is financial forecasting software for startups. You can create financial projection models which are available in a web app or excel spreadsheet. The software is great for presenting five year projections to venture capital firms. There are several options for plans and they are: Entrepreneur, Startup, and Custom. There is a free 7 day trial and after you pay $29 a month for the entrepreneur option. Some features of this plan is that it is up to 3 users, financials, detailed assumptions, employee hiring plan, advanced accounting, and many others. The startup plan has two options which are $79 for the premium web app and $299 for the licensed excel spreadsheets. The $79 a month includes up to 10 users. The licensed excel sheet is good for 36 months. Some features of the Startup Plan are investor ROI analysis, detailed CLTV reports, breakeven analysis, stress testing, company valuations, sales summary, ownership cap-table, KPI dashboard, advanced fundraising, work offline, and many more. The custom plan has two options which are the premium web app for $495 as a onetime fee and includes up to 30 users with up to 5 model consultations a month. The other paying option is the same amount of $495 for only 36 months. The second option for the custom plan has everything unlocked.
- FreeAgent is cloud-based accounting software which is targeted for small businesses. The company was founded in 2007 and the headquarters is in Edinburgh, Scotland. Their founders are Ed Molyneux, Olly Headey, and Roan Lavery. The company provides invoices, expenses, payrolls, tax return filings, and others to name a few. There is a thirty day free trial then $12 a month for 6 months. After the six months you pay $24 a month and that includes sales tax reporting & multi-currency invoicing. The company was bought by the Royal Bank of Scotland in 2018.
- Bill.com is a cloud based accounting solution for small and medium sized businesses. The company was founded in Palo Alto, California. They have four types of pricing plans which are Essentials, Team, Corporate, and Enterprise. Essentials selection is $29 a month per user and it includes managing payables or receivables. The Team option includes payables or receivables plus accounting software integration for $39 a month per user. Furthermore, the corporate selection includes managing payables & receivables plus robust workflow options for $59 a month per user. The final selection is custom and it includes everything in corporate plus: Sync with NetSuite, Intacct, QuickBooks Enterprise, Salesforce.com, multi-entity/location/accounting files, and API access to Bill.com. Thus, for the custom selection you would need to request a demo and they will provide you more details on price.
- Gusto provides fully integrated online HR services which include payroll, benefits, and human resource management solutions. The company was founded in 2011 and is a privately held company. There are four paying options for which are concierge, complete, core, and custom. The concierge selection is $12 a month per person plus a $149 a month base fee. The features include: full service payroll, employee self service & profiles, health benefits administration, workers’ comp administration, dedicated best-in-class support, admin permissions, employee offers & onboarding, simple time tracking, PTO policies & time off requests, employee directory & surveys, certified HR Pros, and HR Resource Center. The complete option is $12 a month per person plus $39 a month base. The features of this plan include full service payroll, employee self service & profiles, health benefits administration, workers’ comp administration, support, admin permissions, employee offers & onboarding , simple time tracking, PTO policies & Time-off requests, and employee directory & surveys. The core option is $6 a month per person plus $39 a month base. This option includes full service payroll, employee self service & profiles, health benefits administration, workers’ comp administration, support, and paid time-off policies. Finally, the custom option varies in price and you can add extra benefits like 401(k)s, FSAs, and more to any plan.