This post is part of our monthly #AskAcuity series, dedicated to answering our customers’ burning business accounting and financial questions. We love hearing from you – if you would like to submit a question to our team, feel free to reach out via Twitter and include the hashtag…you guessed it…#AskAcuity.
Q: Why is cash application and payroll journal entry not included in Acuity’s Basic Bookkeeping service?
At Acuity, we are constantly evolving our offerings to better serve our customers. As it stands today, we offer three business accounting packages: Simple ($299/month), Basic ($399/month), and Growth ($1199/month) that you can add on variations of bill pay, expense reporting, payroll, invoicing and controller services.
So, why do we not include cash application and payroll journal entry in the base offerings? It relates to what we see a lot of our awesome clients doing when developing their minimal viable products. We wanted to keep our offerings as widely applicable as possible to keep costs down for our customers.
To streamline our MVP to the lowest price point possible, we had to eliminate the things that weren’t common among our customers. With the rise of recurring services, the majority of our customers no longer need to send monthly invoices. Recurring bills are run through new technologies, like Chargify, allowing entrepreneurs to manage subscriptions, and automate the collections and dunning process.
We know that one size doesn’t fit all. So, once you surpass this minimal viable accounting function, there’s always the option to add on individual services. Our goal here is to help businesses meet the basic tax compliance requirements WITHOUT charging them for services that won’t add value to their bottom line. Acuity takes away the need for a traditional, full-time accounting hire to help you cut costs and scale faster.
We hope this helps! If you have any questions, feel free to reach out to our team directly or write to us on Twitter and include the hashtag #AskAcuity. And, be sure to tune into our weekly broadcast via Facebook Live every Monday at 2:00pm EST.