About Ravi & his company
Ravi started Vertocity straight after college! Vertocity is a Mix of SaaS + EdTech providing online courses with a job guarantee
Top problems in Finance & Compliance
- Lack of clarity / awareness - Be it GST due dates or TDS rates or GST Inclusive or Exclusive Method - There is very less knowledge
- No Visibility on Financial Metrics like runway!
- Lot of Fines - No updates from CA
- Different opinions on the same thing from different consultants (CAs) - Reference to Applicability of GST
- Detailed attention is not given by CAs
Best Practices
- Not in favour of fully outsourcing Finance, since he wants to have full control!
- Ravi has enrolled to a financial literacy course - Open degree in Finance :)
Time Spent
10%, there is a full time Finance Guy who coordinates with the external CA
What are some of the biggest mistakes you have committed within F&C?
- Choosing the right tech stack! Still regrets Migrating from Tally to QB (now have to migrate back)
- Compliance - Especially the post-incorporation compliances were a mess! Incorporated using an online player and was not aware of the compliances that followed
- TDS on FB Ads not done, had to pay Interest/penalty
Everything else
Would love to have a payslip generator which just asks basic questions - #Days worked and Tadaa!
Major source of work is through Govt tenders! Startups are ignorant of this opportunity
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