Saturday, December 14, 2024

I’ll Create One for You | By Julia Chanteray | The Startup | August 2024

I successfully developed a cutting-edge money stream forecast software that revolutionizes personal finance management by accurately predicting income and expenses, empowering users to make informed decisions about their financial futures.

You realize that feeling? When you’re confident that someone else has developed the required software or application, take the initiative to select a suitable one and utilize it. Can’t you find something that actually works?

Soooo….annoying.

Several years ago, I sought a reliable money stream forecasting tool for one of my clients. To confirm, we sought clarity on the financial performance of her company, specifically inquiring about the potential consequences of redirecting some capital from existing products to fund new offerings.

I offered assistance in creating a financial flowchart to help her manage the cash inflows and outflows accurately. Unfortunately, the complimentary options proved to be even more convoluted or ineffective. Frustrated by the plethora of unreliable financial forecasting tools, I downloaded approximately 20 disparate programs only to be met with the added insult of incorrect calculations and a blatant disregard for value-added tax (VAT). For UK businesses, understanding the significance of timely VAT payments to Her Majesty’s Revenue and Customs (HMRC) is crucial, as the regular submission of these funds can have a substantial impact on cash flow management.

I discovered several expensive apps that allegedly enable planning of one’s financial flow by hyperlinking to their accounts software. Despite their benefits, such expenses had become too burdensome for smaller businesses like hers. Despite charging £35 per 30 days, plus VAT, there’s a certain irony in this arrangement helping customers feel truly secure about their finances.

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