SneakersCFO

@girdley True, up to a point, then they start ignoring "details"

The best CEOs are always simplifying.

Apparently @tryramp @tryramphelp might be busy with AI announcements today, more than addressing urgent 🚨 tickets

One of my clients' @tryramp account was hacked. Suspecting their "vendor network" for now

@devahaz Strangely high number of businesses still using those on a daily basis (terrible habit in 2025)

Person writing check at the grocery store, don’t see that much any more (just saw it)

@JasonDWeinstein @baker_m_pink @investandcreate @realEstateTrent That's the correct answer

@baker_m_pink @investandcreate @realEstateTrent Subcontractors like direct deposit too! Also streamlines records and automates the 1099

I’m at a dinner with a bunch of tech people right now. One of them runs a payroll startup. It’s hard to express in words how much he just freaked out when I told him we use Paychex. I had to leave the table and post this while he recovers.

@reelgoodgutters @QuickBooks A lot of people hate QBO - me often included - , but switch to what? They have close to zero pressure to improve, there is no credible competition that I know of

@QuickBooks About 4 hours on the phone total so far and they STILL can't tell me why they are re-sending estimates from years ago. They have "opened a case" that has had no update. I've had so many problems with QuickBook over the last year... It might be time to switch.

So it looks like @QuickBooks is re-sending out thousands of old estimates from years ago to all of our customers. We are getting pissed off phone calls non-stop and I still can't get ahold of any customer service agents yet. How is your Monday going?

They should do a Calculator App Wrapped where it shows you the dumbest calculations you did this year. Real moron stuff like 20% off 20, or 1x8, or 6+9

@Finance_4hire Very true, see it too

Three common misconceptions I see with business owners: - Revenues = Cash Received - Margin = Mark Up - Net income = Cash Flow If you believe any of these, you need help with your finances.

@jennyrozelle I have yet to see a single unlimited PTO policy that works. Used to be the "smart" incentive in SF tech maybe 10 years ago, but apparently not anymore, and for good reason. Generous/flexible but capped policy is the way to go.

I'm starting to wonder if PTO (Paid Time Off) actually stands for "Pain To Oversee." I have heard a lot of people say negative things about unlimited PTO - even employees (at my office) who, in their prior employments, had it. Simultaneously, I have employees that have used all of their PTO for the year, have gotten sick, and have no PTO to use. Per our handbook, those days go unpaid. What are all of you, business owners, doing for PTO for employees?

@JasonHershman Building/rebuilding a chart of accounts

If you’re going to CFO a startup you’ll need to; Do journal entries Approve expenses Chase receivables Set up systems Build a model Create a cap table Pretty much everything. With nothing handed to you. Some glory. Mostly guts.

@ConnorAbene Even better, schedule it today to be paid automatically on due date. There are tools for that now (Melio, Ramp, etc... not bill.com ;) )

Most owners pay bills as soon as they get them. But I don’t recommend it. You should wait until the due date. Keep cash in the business as long as possible.

@TKopelman That's the worst: trying to convince people that the - flattering - free advice they got from "someone", often partially too, doesn't apply, or is not saving anything, or is crazy risky

"Fidelity told me I can do the backdoor Roth and my IRA there with $100k does not make it taxable" 🤦‍♂️ The phone line you call has no idea if you deducted those contributions on your tax return in the past It gets dangerous fast when people give you advice without knowing the info

@TKopelman Insane that on such big amounts, many people don't even run their own numbers... 🤷‍♂️

Rates dropping are great for many But be careful rushing into refinancing You do not want to refinance 5x over the next 18 months Each time you are paying closing costs and restarting the 30 year window If it is $3k to refinance and you do it 5x = $15k If that only gets you $200 a month of savings, it will take almost 5 years to breakeven Oftentimes, the best move is to give it sometime and refinance 1x 2x at most if it becomes really attractive But make sure you plan to live there long enough to recoup those closing costs

@JasonHershman 💯

If you want to become a great CFO, nothing should be beneath you. Journal entries. AR. expense approvals. excel.  invoices. software implementation. Greatness won’t happen when you have no experience in the foundation.

@realEstateTrent Well, that's kind of the point: avoid firms and work directly with the right person. At most, the right person will come with their own *tiny* network to fulfill your specific needs. Going through a firm, means overpaying (and precisely working with someone who is not fCFO)

The fractional CFO business is interesting. So many small businesses that could use more professional oversight of their numbers, having their systems streamlined, managing their reports, etc, but don't need a full-time person to do all this. Which firms are the best?

@oledoteth I was 💯 with you up to the cartoon. It's *very* inaccurate

I think this stems from the history of America. The US was built by immigrants who took a leap of faith, leaving their families behind to sail across treacherous oceans in search of a better life. That's a massive risk. These risk-taking genes are still present today imo.

I'm European. I recently visited the USA for the first time since 2018, hitting up Las Vegas and New York City. What I witnessed left me stunned. 15 American oddities I still can't wrap my head around:

@Capital4Value @ConnorAbene You should start as soon as 1/ capable (although not that complicated) but 2/ care one bit about comparability month to month, year to year. IMHO the sooner the better. Bonus points: if for some - wrong - reason, you use many checks, then you should start even sooner 😂

@ConnorAbene Great thanks!!

Why do accrual accounting when you can just check your bank balance? 🤷‍♂️