Bookkeeping, Tax, & CFO Services for Startups & Businesses
Sign up below to receive our free eBook on accounting, finance, and tax topics that every startup needs to be aware of to help avoid surprises and headaches down the road. We work with thousands of startups, ranging from two founders in a garage to hundred-person teams. Reach out to learn more about our affordable accounting pricing for startups. Kruze’s calculator tells you how much it will cost to prepare your startup’s tax return. Kruze only works with funded startups – we know what it takes to raise that next round, and we’ll help you get there. According to the report, the trip details had been provided by General Motors — the manufacturer of the Chevy Bolt.
Another major area where CPAs can be much better than a simple bookkeeper are producing tax returns – and interacting with tax authorities like the IRS or state tax agencies. CPAs are legally allowed to provide tax services above and beyond what other accounting professionals can do. Startups do accounting by implementing a range of financial management techniques, depending on the founders financial sophistication and time.
First Why Does Good Accounting for Startups Matter?
With millions of venture capital dollars at stake, we do find that most of our clients DO want to talk with our team on a regular basis. So, doing a recurring call, making sure we are keeping up with questions, is really powerful. The higher priced bookkeeping packages provide time for the founder to connect with the accounting team. The two fundamental components to how much getting your books done costs are transaction volume and dollar amount spent. Transaction volume is just simply how many transactions does your company have every month? And at this point in the analysis we are not really worrying about whether they’re like easy transactions like Uber, or more complex expenses like international wires or contractor payments that span many months.
Our clients are receiving close to $40 million per year in tax credits (cash from the IRS!), and hundreds of funded startups trust Kruze to deliver the right advice, at a reasonable price. Our clients have secured over twelve billion dollars in seed and venture funding; close to three billion in the past year alone. Top tier VCs trust our clients’ books, and Kruze knows how to prepare startups’ financials for VC due diligence. GAAP is better for running your business, as it helps you match your expenses and revenues with the timing of those activities. Finally, and very importantly for early-stage, VC-backed companies is that acquirers and investors will want to see GAAP financials.
Free Chart of Accounts Template
Outsourcing your small business accounting helps you save time, money, and increase profitability. It takes time to fine-tune your products, develop a winning team, implement a successful marketing campaign, and so on. The last thing you need to be doing is repetitive data-entry, studying the IRS code, and trying to figure out the difference between an asset and a liability. Have accounting and bookkeeping practices that are followed weekly and monthly to set your startup up for success. Enter in all data of transactions, reconcile your accounts, and keeping up on accounts receivable are all ways your business will keep up with accuracy and keep cash in the bank. A cash flow statement is a mandatory statement that will record the amount of cash a business has leaving and entering a startup.
The goal of CFO services for small businesses is to make sure you are profitable. CFOs help with budgeting, forecasting, cash flow management, financial analysis, and business decisions. Accounting is deciphering your financial records for everything from paying the right taxes to strategic business decision making. While bookkeeping is there to ensure the process of tracking all financial records is complete.
Checklist for Startup Bookkeeping
In order for your business to scale, leaders need to be able to make data-backed financial decisions, and things like financial forecasting and monthly financial reporting become crucial. With outsourced accounting providers, you get key insights and mission-critical insights, which can help you make the best decisions possible. Our practice is built on best of breed cloud accounting software like QuickBooks, Netsuite, Gusto, Rippling, Taxbit, Avalara, Brex, Ramp and Deel.
Our experts can help you find the right solution for your budget and business needs. Kruze knows R&D, SAFE Notes, SaaS, and venture startup bookkeeping debt and they gave us valuable advice. I personally can tell you, they’ve done a great job for our companies, including Calm.com.