Here’s how I know how important coffee is in my life:
I recently ditched Quicken (which was more of a clutching / heaving action that ‘ditch’ implies) in favor of the online tool Buxfer, which while very much in beta (who isn’t these days?) has a powerful tagging system that I can use to quickly assign each financial transaction in my life to various projects, which is a must when you freelance as much as I do. This helps me boil down the holiest of holies: A project-by-project summary of which projects reward me and which bleed me dry. It also keeps me on a very simple weekly or monthly budget for things like eating out.
Also, Buxfer has a really sweet iPhone interface, which has allowed me to balance my checkbook while on the train, saving me a ton of work time without appearing to be that guy. Is it good for theaters? I think if you’re small enough and aren’t doing fully audited financials yet and just need better organization, yes. Buxfer is primarily designed for just-post-college folks who tend to share a lot of bills and need to manage their finances with roommates. This has led to a host of features that are good for collaborative bookkeeping –
A) You can link multiple accounts relationally, which means you can pretty easily create an accessible abstraction of your current financial situation – one account per department, or personal accounts can track loaned money to the company account – however you need to organize it.
B) It’s online and syncable with multiple bank accounts, so it’s easy to get a quick snapshot of your cash flow.
C) You can keep show AND department AND company budgets organized on top of each other, and because of the tagging system, any single transaction can be deducted from any number of budgets. Each budget can also be tracked annually, monthly, weekly, or an a number of different schedules.
D) Buxfer was designed with purpose of tracking mini personal loans between people, so it’s “Money Owed” section allows you to very carefully track personal reimbursements that need to be repaid to any number of individuals or companies.
D) There is a bill scheduling system (and a day-to-day cash flow projection graph) which can help immensely with cash flow tracking if you’re waiting on renting those dimmers until your grant is coming in.
F) If you’ve got an iPhone, you can stand in your theater next to your set that clearly needs another coat of paint and quickly get an answer to: “Yes, we have room in the budget for $36.40 of additional paint expense. But don’t go over that.”
It’s not all roses and honey bees. Buxfer feels like a late beta web application – not quite all the way done yet – and while I’ve been able to successfully load in six years of complex freelancing financial data without too many hiccups, one of those hiccups has been periodic duplication of synced transactions, which has given me one or two heart attacks so far. The user interface sometimes does slightly wonky things, but even in playing with it for a couple months, they’ve developed new features at a rate that makes me confident that they’re heading in a really exciting direction.
Buxfer is free, with a very affordable upgrade (a couple bucks a month, paid annually) for unlimited budgets and bank accounts. That means it has to monetize a bit more somehow, and in their case, they have you by the crotch – they know where you spend your money, so they can serve you with cut-to-the-heart ads that they *know* you’ll fish out the wallet for.
Here’s what greeted me in my Buxfer sidebar this morning:
What do you think? A coffee franchise might just be the thing somedays, that last thin mint of life management that will help reduce my cost of living to a couple pennies while providing great benefit.
I want an Intelligentsia in my theater.
Not really. But kinda.
Buy Me a Coffee?