Hello! I hope you’re enjoying the height of summer (or winter) wherever you are. I just wanted to give a quick update on some incredible progress with one of our lesser known but increasingly important features: ReceiptBurner.
Everybody knows what accounting is:
Accounting [uh-koun-ting] (noun)
The theory and system of setting up, maintaining, and auditing the books of a firm; art of analyzing the financial position and operating results of a business house from a study of its sales, purchases, overhead, etc.
But what is “preaccounting”? Not everybody is as familiar with this newer concept, so I’ll go ahead and define “preaccounting” as:
Preaccounting [pri–uh-koun-ting] (noun)
The system through which financial data is gathered, coded, aggregated, and normalized so as to enable accounting to occur; accounting processes executed by non-accountants, including expense management, time tracking, etc.
In layman’s terms, preaccounting is the super boring, tedious work that nobody wants to do, but that absolutely needs to be done before the truly valuable accounting work can begin. Unlike accounting, which is clearly the job of accountants, preaccounting is nobody’s job. Continue Reading…
Innovation is a tricky thing in that it makes the impossible seem boring. I think it’s amazing that my 2.5 year old daughter will never really understand why it’s called “rolling up the window”, that google wasn’t always a verb, or that rocket ships were actually thrown away like garbage into the ocean after each use. People innovate to change the world, but once changed, we forget it wasn’t always that way.
Nobody likes to talk about firing. It’s not something to celebrate: if you need to fire someone it means you screwed up. Either you hired the wrong person, or — more common — you hired the right person, but failed to enable their success. Either way, the blame falls on the company (not the individual), so it’s no surprise that companies tend to avoid talking about their failures.
But despite that discomfort, firing is an important topic because in the long run, careful application of firing is actually more important than hiring. To understand why, consider this simple chart: