Accounting Services for Pre-Revenue Startups
Below is an outline of the accounting services many of the startups we work with utilize when in the pre-revenue/product development stage. During your free consultation, we will dial in your precise needs.
Mom and Pop lifestyle companies may get by using cash basis accounting. This method is where you recognize expenses when you pay for them.
But If you want real insight into how your company is performing, and you need to answer to investors, you will need to use the accrual method of accounting.
With accrual basis accounting your expenses are matched to your revenues and are reported when the event the expense is associated with occurs, not when you paid for the event.
For example, You bought your tickets for TechCrunch Disrupt in May, but the conference is in September. Accrual basis accounting records this expense in September. The period in which you receive the value for your purchase. Other common accrued expenses include employee salaries, where employees are providing you value in one period, and you are paying them in another.
Now you, and your investors will be able to see how your operational decisions are benefiting your growth month to month.
You got bills to pay. Send them our way, and we’ll get them paid, recorded, and reported.
We ask that you use Bill.com to make it easy for you to review, approve, and enable us to pay your vendors, contractors, and reconcile with your accounts.
Employee Expense Reporting
We ask that you use Expensify.com to make it easy for your employees to request reimbursement.
At the end of the month, you’ll approve the expense reports (after Jason justifies why he needed the UberBLACK to close the deal) and we’ll record, reconcile, and add them to your end of month reports.
Payroll and HR
It's not hard to do, but it needs to be done right, and it takes a fair amount of time.
Sometimes your startup may have particular payroll obligations like the quarterly San Francisco Payroll Tax Filing which we will handle for you as well.
We've teamed up with the professionals at Gusto.com to manage your payroll and HR benefits and can extend to you our special partner pricing.
Everything you need to understand your financial health at the end of the month including Profit & Loss, Balance Sheet, and Cash Flow Statements
We will handle your Delaware annual filings.
Coordination With Your Tax Preparer
We package everything up neatly just the way your tax preparer likes it.
You're building a startup that may change the world, and your accounting needs may not fit neatly in a box. We understand and will work with you to put together a package that precisely meets you where you are today. We will then perform a formal review every quarter to ensure our services keep pace with your growth.