“Tracking Online Transactions Using Traditional Bookkeeping was a Nightmare!”

Overwhelmed by Emails

As sole founder, Jun just has one colleague helping her run the business, so her time is constantly in high demand.

“If I had gone with a traditional accounting company, they would ask me to send things by email. I already have so many emails and it’s kind of hard to track of what you’ve sent and what you haven’t sent.”

Another major pain-point Jun found with traditional accounting companies was their restriction on revenue and the number of transactions.

“Because we are B2C, every time an order comes in, it’s considered a transaction. I don’t want to be keeping track of how many orders I need to keep within the package of the traditional accounting companies. With Osome, I just need to know if I reach a certain amount of revenue then it’s the next package, but if I keep it in this revenue, I don’t have to worry about how many orders are coming in.”

Working Smarter

Jun enlisted Osome’s help early on after one of her fellow entrepreneurs at business school recommended she try us out.

“I signed up with Osome before I had my first sale. I knew having an accountant was very important for me because I wanted to keep my books very clean. I wanted to outsource my accounting needs because I’m not an accountant, so I think it’s very important to keep my books in place.”

The ease of Osome’s corporate secretary and accounting services working together is one of the biggest business benefits for Jun.

“I just contact them and say the accounting is done, can you pass on to the corporate secretary, and they work it out among themselves. It saves me a lot of time. Especially because I don’t want to forget to file this or file that and get a penalty or late notice – I would like to avoid that and focus on my business. So that’s why I leave it all for Osome to handle.”

Outcome: 25% of the Working Month Saved by Outsourcing Accounting

If she did all the accounting herself, Jun estimates it would take up a quarter of her time. “I’m an online business, so every transaction has to be accounted for with the bookkeeping – that’s a nightmare. I think it would take me a week every month with my basic accounting knowledge.”

Jun especially likes Osome’s digital solution:

Everything is done within the app. I tried other accounting companies, but they’re more old-school, more traditional. I like everything in one place, I don’t like calling and being put on hold, I like being able to reach out to the same accountant.

Jun Tan,Founder & CEO, Jomingo

“If I have any questions, I just log in and there’s always someone to reply to me within 24 hours – I can see all my previous correspondence with the Osome team.”

Any Advice to Others Starting a Business in Your Industry?

After studying at business school and now running her own business, Jun recommends studying the market before launching your company – and using your passion to drive you:

“Study the market to make sure it has the potential for your products and understand how you can scale your business in that market. That’s more of the business part. For the non-business part I would say, enjoy what you do. It’s very important. I enjoy creating new formulations, selling my products – it’s my passion, it’s not a typical work day. It becomes a hobby-come-business and doesn’t feel like you’re going to work every day.”