Our Conversation with Mohammed Muyeen

About Mohammed Muyeen

An apt proverb comes to mind when we speak to Mohammed 'There is nothing certain, but the uncertain.' With a vision to complete his MBA, which he successfully fulfilled in 2018, Mohammed was offered the prestigious role of a 'lecturer'. It looks like life had other plans for this young mind as he rejected the opportunity and decided to start his career at a SaaS company called Pazo with the role of an accountant!

As he gained experience over time, he was promoted to the role of a finance manager, and at present, he handles the entire finance and accounts of Pazo!

What tools do you use to manage accounting and payroll as the sole operator of the 'Customer complaint' department?

As a one-person show, Mohammed handles all accounting and payroll tasks on his own. QuickBooks is his go-to tool for bookkeeping, accounting, and other related tasks, while 'Recipe' helps him manage payroll efficiently. These tools are user-friendly and automate most tasks, from recording entries to generating monthly reports. By using these tools, he can make informed decisions based on accurate and up-to-date financial information, which is crucial for running a successful business.

The effect of startups NOT taking complaints seriously.

It's common for startups to overlook the importance of hiring a full-time finance and complaint management team member in the early stages. Many choose to outsource these functions or simply manage them on their own. However, as the company grows and reaches a certain level of funding or employee count, the need for a dedicated finance team member becomes more pressing, and that's usually when the first hire is made. In fact, this trend is seen in at least 50% of startups in India. As the workload became too much for one person to handle alone!

As the company grows, they realize the need for an internal finance guy to handle accounts receivables, invoicing, financial analysis, and necessary metrics tracking. The taxation part is still handled by the accounting firm, and there is clear communication when required.

In 2019 Mohammed joined Pazo, and until then, the accounting tasks were outsourced to the auditors. However, the company's growth necessitated the recruitment of an internal finance person. AR is taken care of in-house, and the reporting is done by them as well.

A day of work in the life of Mohammed!

• Mohammed's day starts with an email review in the morning since he is responsible for handling all accounting inquiries, including AR and AP.

• He first reviews emails and tries to resolve any accounting or bookkeeping-related requests.

• He then reviews their accounting tool, QuickBooks, starting with the banking part to check for payments received and enter any necessary entries.

• Next, he reviews the metrics sheet and accounts receivables ageing summary report, which helps them with payment follow-ups. This process typically takes up the first half of the day.

• After lunch, Mohammed will be focusing on finance and accounting-related tasks.

• He will be working on clarifying any doubts or setting up calls with clients to discuss accounting and bookkeeping-related queries.

• He focuses on tasks directly by the CEO and might need to work on reports and calculations at short notice.

• At 5 o'clock in the evening, he reviews payroll software and approves reimbursements.

• Mohammed cooperates with auditors and outsourcing firms to handle queries or work if required.

• Safe to say that all of this work is typically done post-lunch.

The experience of working with several auditors and consultants, how has it been?

Many companies have outsourced their accounting to auditors.

The auditors they have chosen are somewhat advanced compared to others who are practicing.

However, many auditors are resistant to change, and this is causing issues in the industry.

For example, many auditors have been using a program called Tally for a long time and are resistant to switching to Zoho Books.

This is a problem for many SaaS (Software as a Service) companies in Bangalore and Hyderabad, as it hinders progress in the industry.

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