Quickbooks Online ProAdvisors
Accounting Systems Implementation
Businesses need real-time information in order to make decisions as well as for lending and due diligence purposes either when you apply for a loan or are seeking investment from Angel and Venture Capital sources. We assist businesses with set up and staff training with Quickbooks Online. We can also assist businesses that may want to make the switch from Desktop to Online. We can help to create a chart of accounts that works specifically for your startup. We recognize that business owners may want to have a more detailed analysis of the various operations/business lines that make up their operations and use division (class) tracking in Quickbooks to give clients the finer detail they need, so they can see how they are operating across multiple business lines.
Quickbooks Online Pro-Advisors and Advanced Online Proadvisors
Our team consists of Quickbooks Online Pro-Advisors and Advanced Online Proadvisors and we have a lot of experience working with Xero and Wave apps two other popular accounting solutions. We have also got a working knowledge of Freshbooks and other G/L Packages such as Aplos.
CASH FLOW MANAGEMENT
Cash is king when it comes to business and we can assist founders with budgeting and financial modeling tools to ensure they are able to accurately plan ahead and understand their runway and burn-rate. This allows you to better plan your fundraising efforts, determine staffing levels,give your department heads budgets to work with and give you all the information needed to make an informed decision.
Virtual Controller/CFO Solutions
Seed to Series A Startups often lack financial expertise in their management teams as there is usually an emphasis placed on technical roles at the early-stage. We can assist in these transitional periods to help founders with high level financial decision making as they navigate a high-growth stage in their businesses. Our virtual controller/CFO solutions are ideally a short-term fix as your startup looks to hire someone full-time in the role.
Board & Investor Reporting
We assist founders with developing board decks, highlighting the information their board needs to see in order to help steer the ship as founders navigate the Seed to Series A inflection point. Our philosophy is to produce concise reporting and graphics that can clearly articulate the financial picture to the board so as to facilitate the management team’s discussion and highlight to the board potential action items.
GAAP BASED FINANCIALS FOR YOUR GROWING BUSINESS
Bookkeeping
We can help your early-stage tech startup keep track of its bookkeeping. Seed to Series A technology startups have to frequently report their financials to the board and for due diligence requests and for annual 409A valuation purposes. Let us help your tech startup keep its books compliant with GAAP rules and record transactions on the accrual basis of accounting. Our bookkeepers are all Certified Quickbooks ProAdvisors and ensure the following tasks are completed:
Bank Reconciliation
Reconciliation of all bank accounts on a monthly basis including recording of transactions.
Credit Card Reconciliation
Reconciliation of credit card accounts on a monthly basis including recording of transactions.
Accounts Receivable
We ensure to match deposits received against outstanding invoices and reconcile the revenue on a monthly basis and review an A/R Aging report with our clients to ensure they can follow up on any delinquent customers.
Fixed Asset Reconciliation
We help our clients establish a capitalization policy and search and identify misrecorded fixed assets such computer equipment recorded supplies and miscellaneous accessories misclassified as assets. We record monthly depreciation and amortization to ensure assets are recorded at their correct book values on a monthly basis.
Prepaid Expenses
Insurance policies and other software subscriptions are often paid for in advance. A monthly prepaid expense reconciliation helps to ensure that expenses are booked and recorded in the correct time periods even if paid for far in advance.
Deferred Revenue
Many of the early stage tech companies we work with often take pre-orders to have customer sign annual or multi-year contracts whilst receiving deposits far in advance. We can help tech startups ensure they are in line with revenue recognition standards, and correctly record revenues in the correct periods.
Long Term Assets and Long-Term Liabilities
- Many types of assets need to be amortized over long periods of time, including patents, software development costs, and other intangible assets. We ensure companies record these costs correctly.
- Investors regularly use Convertible Notes and SAFE Notes (Simple Agreement for Future Equity) to invest in the early financing rounds of a startups. We help startups ensure that these are identified and recorded correctly as a common mistake we see is that they are recorded as income instead of a long-term liability.
Equity & Cap Table Reconciliation
The Capitalization Table can be a daunting task for any startup founder to understand. We help to ensure that the information reflected on the cap table matches the information recorded in the accounting system and help to identify and resolve any discrepancies.
Stock Option Expense
We can help your startup record it’s stock compensation expense and ensure that it is in line with GAAP rules.
Revenue Reconciliation
We can help to ensure revenue recognition standards are being followed when record revenue in your accounting system and assist journal entries and reclassifications to correct for deferred revenue.
Expense Classification
When it comes to expense classification we use trends and analytical procedures to verify and analyze if there are any discrepancies
Pre-Seed
Starting at
- Reconcile Quickbooks Online
Accrual-Based Bookkeeping - Monthly Call
- Chart of Accounts Setup with our Template
A/P A/R Tracking By Client - Sales Tax Filings (Optional)
Seed
Starting at
- Reconcile Quickbooks Online
- Accrual-Based Bookkeeping
- Monthly Call
- Customized Chart of Accounts
- Deferred Revenue Recognition
- A/P, A/R Tracking
- Inventory/COGS Reconciliation
- Financial Metrics
- Sales Tax Filings
Series A & Beyond
Based On Your Needs
Custom Quote
(discount if billed annually)
- Reconcile Quickbooks Online
- Accrual-Based Bookkeeping
- Monthly Call and Ongoing Communication
- Customized Chart of Accounts
- Deferred Revenue Recognition
- A/P, A/R Tracking
- Inventory/COGS Reconciliation
- Board Financials and Metrics
- Sales Tax Filings
Our Process
1
Step 1: Contact Us
Get in touch and we’ll reach out to you to schedule a video call to better understand your tech startups needs and prepare a custom quote.
2
Step 2: Onboarding
We’ll invite you to our secure client portal where you can use our easy to use onboarding checklist to get started. See general pricing guide here.
3
Step 3: Review
We schedule ongoing video calls with you to review your financials and ensure all of your tax compliance is taken care off.