Accounting to Improve Your Bottom Line │ Ep: 294 Jesse Rubenfeld

Small Business Answer Man

After growing up in Houston, Jesse Rubenfeld began his career in New York City at the Lime Group of companies doing the books for a variety of companies, gaining experience with non-profit, software industry, hedge fund, and management company accounting. After serving as LimeWire’s CFO for his last four years there, he joined the D. E. Shaw Group as the controller of the research division that builds supercomputers to revolutionize drug discovery. From the beginning, Jesse’s interest in technology led him to automate financial operations, first with spreadsheets, then Perl, and most recently Python. He founded FinOptimal to help QuickBooks Online-based businesses streamline their financial operations, optimizing value-per-dollar with an outsourced accounting service heavily focused on automation. Jesse has bachelor’s degrees from UPENN and Wharton, and an MBA from Columbia, and he lives in Houston with his wife and four children.

What problem do you solve?

Keep your books on accrual basis as quickly and cheaply as possible. Identifying your margins.

Show Notes:

• Jesse says it’s an exciting time to be an accountant. They are moving towards being strategic advisors and are learning to use technology to their benefit.
• It’s important to know how much profit you are making. How are you evaluating how much money you are making?
• Jesse’s company helps make software that automates makes adjusting entries that can help predict profits. This software makes things faster and cheaper.
• Doing all of the adjusting entries manually can be time consuming and can get sloppy.
• API – Application Programmer Interfacer
• API help QuickBooks interface with other programs such as payroll and inventory systems.
• Some 3rd party sites pass in too much information or not enough information.
• Data entry is automatable.
• “If you can’t measure it, you can’t move it.”

Jesse Rubenfeld’s Best Small Business Tip:

Care about accrual accounting.

Connect with Jesse Rubenfeld:

Website: finoptimal.com

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