Software Info > Shortcomings!!
Transparency is extremely important to a paradigm shifting software developer. Disappointments for software consumers are the norm and utterly inappropriate when they are encountered as surprises after time has been invested in self-education.
1) No Auto Updates
Because it is just a spreadsheet template, any changes that are made to the master template after your download would need to be manually made by you or you'd need to download a new template. While downloading a new template only takes a few seconds, the templates do take about 5-10 minutes to setup properly and then you'd need to transfer your data over which would take more time. This is a draw back, BUT remember, it's this very feature which ensures you a level of privacy not found with any other software vendor.
2) Manual Data entry and/or Data Entry via manual CSV imports (cut and paste) only
There are no automated connections to banks. The recommended system for data import is downloading data from your bank and then cutting and pasting into our raw transactions worksheets for a manual mapping into an appropriate ledger format for use. While a few people may look at this as a step back or a disappointment, you'll find most professionals prefer manual data import as it assures they maintain control of the data at all times.
3) The General Journal
This software was designed for Income/Expense only users and those needed a modest amount of General Journal entries, most typically associated with inventory adjustments. It was not designed for someone who wanted to track dozens or hundreds of asset and depreciation accounts. Currently the General Journal requires signed entries and there is an order in which things must be entered. This initial offering was designed as much for use as it was for financial and accounting education. The General Journal should be scalable to include a far larger number of accounts but additional reporting may be required. We are working on an alternate solution which is full debits and credits only both on front end and backend, and that should meet the needs of the larger users better.
4) You can really mess up your file!!
True painters don't use blue tape and we can all learn to be true painters with proper educational systems!! Yes indeed, you can mess up your software good!! We have not locked down any cells in this spreadsheet. You need to be an educated user who isn't in a rush in order to use this for its greatest potential. You are instructed to keep original copies of software so fubars can be undone and you are coached to learn how to use Ctrl-Z to undo bad moves much faster. Google makes auto backups of the file every few hours and you can make your own any time you'd like. That's what makes this far more doable too!
5) Relatively Unsexy
It's not as "sexy" as some modern looking software. We've added linking ability from page to page and record to record where possible. It flows quite well, but it's not that sleek software interface you may have grown accustom to. We feel most will quickly look past this once they realize the full set of benefits but this is an expectation that needs to be tempered.
6) Everyone has to go through a Registered Professional to get this at this time. No direct download options...
This is rolling out to Professionals only first. End Users wanting this will be forced to go through a Professional of some sort. We hope some will go into the lower cost education and reseller business as opposed to keeping it all for themselves and/or their higher paying clients. We will be trying to find a way to get as many people on board as possible while managing our digital reputation in a necessary manner. Finding Professionals willing to do training services and setup services with limited or no ongoing bookkeeping services will be a priority for us. If we can't find folks to do that and/or offer digital video series that do that, we have prototyped direct offerings and we have the ability to offer that directly if no one else will.