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Public Service Announcement: Just because you can do something doesn't mean you should. Today's cautionary tale: 5 pitfalls of directly connecting Stripe and NetSuite to solve revenue reporting problems. (Spoiler alert: it makes those problems worse) Links in thread 👇👆
#Accounting & #Finance pros - there's a different way to solve your monthly rev rec and close problems. Take it from a couple of new users at @outsidemagazine who are excited to put stressful audits and hours of manual work behind them so they can focus on value-add projects.
Stripe: great for payment processing. Not so great for revenue #Accounting . Here are 3 reasons why, and how Leapfin bridges the gap. #Fintech #revrec
Gold standard recommendation by @SecretCFO! I’d go as far as CFO should own master data management (MDM) for the organization. Multiple owners = no owner = complete mess with no standardization.
Having a lot of fun comparing AI LLMs with ex-GitHub CEO Nat Friedman's nat.dev playground! It costs money now but understandable given the heavy costs of models like GPT-4. Happy it's usage-based pricing instead of subscription though!
As organizational digitization continues, standardized accounting practices like chart of accounts and GAAP/IFRS are not enough. It's crucial to understand the importance of a universal accounting data standard that bridges the gap between transactional operations vs reporting!
It's mind boggling to imagine billion dollar companies struggling with archaic financial processes. Yet it happens much more often than you think - and they continue to operate blindly with both outdated and inaccurate data!
Just 1 week away❗️ Learn from @SeatGeek's Joe Blanchett how to navigate the build vs. buy decision. Register today! bit.ly/3EYctg2
The reason I have so much passion for #Bitcoin is largely because of the model it demonstrates: a foundational internet technology that is not controlled or influenced by any single individual or entity. This is what the internet wants to be, and over time, more of it will be.
Ahead of the Ugandan election, we're hearing reports that Internet service providers are being ordered to block social media and messaging apps. We strongly condemn internet shutdowns – they are hugely harmful, violate basic human rights and the principles of the #OpenInternet.
ASC 606 revenue recognition implementation can be a tremendous undertaking for private companies. Has your company successfully implemented ASC 606? #accounting #finance #asc606 bit.ly/3nrzQW7
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