As a matter of fact, 10sheet’s $69/month price point sounds quite appealing, compared to the costs of a regular bookkeeper for small businesses and startups. In addition, the company also insists that a paperless solution is much more convenient than manual bookkeeping. Here’s how 10sheet pictures your future books:
As you can see above, you first need to sign up and securely add your bank accounts. You can then snap pictures of your receipts to send them, or book FedEx pickups from inside the app, which 10sheet will use to produce daily financial statements for you.
But this isn’t only about good looks and low prices, and the company insists there’s more to its solution than meets the eye. If it can offer affordable price rates, it’s because it is “capable of automating 95% of the labour formerly required to do bookkeeping.”
According to 10sheet, this isn’t true of competing apps; most of the digital tools available in the market actually get you to do a large part of the work, and you end up wasting time to save money. On the other hand, the startup’s partially-automated process means than it only has to rely on its US-based bookkeeping team for a small portion of the tasks.
We didn’t have a chance to see how it works behind the scenes yet, but it must be quite convincing, as PwC has shown interest in recommending 10sheet to its small business clients. As for Etsy, it would like to offer the service to its sellers, 10sheet says.