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Product Extension Idea
My daughter is an artist. She needs a simple way to keep track of her income and expenses. I have hacked expensify with an expense category called revenue. It works, but of course the revenue number has the same sign as the expenses.
It would be better if revenue was a positive number and showed up in the monthly report with expenses so she could see her profit (or loss) each month. Super simple input of income and expenses – no software to learn – it just happens.
It would also be nice if she could produce an annual report of revenue and expenses for purposes of preparing her tax return. Failing that she can use the monthly expense reports to produce an excel spreadsheet. This is one very positive step above keeping everything in a shoe box that is not too daunting for a low tech person.
This is really not an accounting system, but for someone that needs something simple, this would compete quite effectively with quicken for a sole proprietor. While it would not have the horsepower of quicken, there are many sole proprietors who don’t need the horsepower. Think real estate agents as an example. This would work quite well for them. Same for a lawn care person.
Marketed as super simple super small business accounting system it could have legs.