

Ask YC: What Bank account and accounting software are LLC startups using? - jotto

What kind of bank account? Something from Chase? (http://www.37signals.com/svn/posts/753-ask-37signals-how-do-you-process-credit-cards)<p>For the accounting software, something from Quicken, a simple spreadsheet? Something homegrown? Nothing at all?
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brunnock
We use Bank of America. They offer online payroll for $15/month. Free if you
pay with direct deposit and all of your employees have BofA accounts. They
will prepare and file fedaral and state tax forms and payments as well. That's
a very good deal.

We use Quickbooks online (QBOE). Clunky interface. MSIE only. But it's a
webapp (don't worry about backups).

We use PayPal for credit cards. They are not "unprofessional" and their API is
simpler than any bank or merchant company that I know of.

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faster
For the least hassle, PayPal's got a few options for payment. PayPal IPN can
handle monthly subscriptions, and the service charges are not bad. You need to
be diligent about moving the money out of the account, and about handling
customer service problems.

Quickbooks is the default, but you can just keep a shoebox for your records
and give it to your accountant every so often. You need a finance pro anyway,
and if you don't have a founder who is an expert, outsource. You can't afford
to screw that up.

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DarrenStuart
I use freshbooks for all of my invoicing etc. I couldn't be more happier with
it. They will even post your invoices, estimates etc. You can also take
payment for your invoices online with them.

I use spreadsheets for working out cash flow etc

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falsestprophet
Just get a no-fee business checking account at a convenient bank with a debit
card, once you are making or spending a lot of money you can shop around for
something that suits you better.

I use Fifth Third.

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motoko
When I was a student, I had a big problems with Fifth Third. Really stupid
stuff like "unresolvable computer errors." I had to close an account and re-
open it to solve the problem.

Needless to say, I didn't keep that new account open for long.

5/3 for the fail.

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skmurphy
Washington Mutual for Bank, Quickbooks for Accounting

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davidw
I use GnuCash, which isn't great, but seems to be enough to keep track of the
few transactions I have.

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carpal
Eating my own dog food.

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jamiequint
For my consulting business I had Bank of America Small Business account and
used Quickbooks a little bit, but mostly did ad hoc accounting.

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bharris
Local bank with great customer service, convenient hours, etc.and Quickbooks
-- although the software is extremely lacking on the Mac.

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terpua
If you need multiple user access for accounting, I recommend Less Accounting -
think Quickbooks but online.

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there
fifth thirds for the bank account, braintree for credit card processing, and
homegrown-turned-SaaS billing software corduroy: <http://corduroysite.com/>

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pistoriusp
We're still in the development stage so we haven't even thought about this
yet.

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rms
Bank account is with the localish large bank, PNC.

