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A Big Announcement from LessAccounting

We’re happy to announce that LessAccounting has recently been acquired by the team behind American SMB Servicesand Big Half, a system of mobile and cloud-based applications for finance, accounting, compliance, and taxes. Users of LessAccounting can expect a number of upgrades and new features to the platform as the new owners leverage its features and capabilities to provide better tools for business owners and contractors.

The founders of LessAccounting are confident that the acquisition will only mean good things for current users, who have come to know and expect a customer-first, jargon-free service.

“In a buyer, we were looking for somebody who shared our vision for simplicity and customer service. Out of the many buyers we heard from, these were the ones that most closely aligned with us and our vision,” said Founder Steven Bristol.

Bristol and his Co-Founder Allan Branch decided to sell LessAccounting because, as Bristol said, “now was the right time to cash out so we can focus on helping others launch their ideas.” This gives them the opportunity to focus on their other brands, the web and mobile consulting service LessEverything and video production/marketing company LessFilms. Bristol said that he and Branch learned a lot from building LessAccounting, and now they want to take that experience to help other business owners build and grow their operations. You can hear more about them and their decision on an interview they did on the Mixergy podcast.

In the short term, Bristol and Branch will stay on to maintain customer support and advise during the transition. Indefinitely, Bristol said they will remain dedicated to helping the new owners carry out their vision.

“We want to help them succeed and make sure our customers are happy and succeeding as well,” Bristol said.

The buyers, Phani Ilapa-kurty and Uday Koorella, look forward to using LessAccounting as the pillar for their current ecosystem of mobile and cloud-based tools. Their vision is to create a system of comprehensive, yet easy-to-use tools for accountants and small-business owners.

Phani said he and Uday were drawn to LessAccounting’s SMB user base, as well as its ability to act as a baseline engine on which they can build accountant-focused solutions and workflow management for businesses. They’re planning to use their expertise to further build the platform’s functionality and user experience. Best of all, they won’t be changing the pricing.

Here are some of the upgrades users can expect from LessAccounting:

  • Expanded and flexible chart of accounts
  • Enhanced reporting and analytics
  • Multi-country and multi-currency functionality
  • Tax return prep automation
  • End-to-end accounts payable solution with workflow and payment integration
  • Small business tax return prep with cost-effective pricing
  • Cost-effective bookkeeping and payroll management services

About Phani Ilapa-kurty:

Phani has 20+ years of experience in consulting, assurance, accounting, tax, and systems. He has been associated with major accounting firms Ernst & Young and Deloitte, and has served many Fortune 1000 companies. Phani has a Dallas-based professional services firm that serves around 220 small businesses in the U.S., providing accounting, payroll, compliance, and tax services. He is a technologically savvy practitioner, not only in his own practice but also for his clients’ processes. He brings a strong accounting, audit, tax, and systems background to enhance the value proposition of LessAccounting in providing more to small business and entrepreneurs.

About Uday Koorella:

Uday has 12+ years of experience in architecting, designing, and delivering web and mobile applications in the telecommunications, aviation, tax, and accounting industries. Working along with top leaders at Cingular, American Airlines, and Intuit, Uday has built a reputation as a specialist, delivering value at the intersection of business, technology, and design. He is qualified and experience in cyber security and big data platforms. Currently, Uday is building a vertically integrated ecosystem for accountants and small business owners at Big Half.

LessAccounting’s sale was brokered by FE International. Please direct all transaction inquiries to the FE International team (brokerage@feinternational.com).

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