Your Tax and Accounting Solution’s bookkeepers will help your business have accurate, up-to-date financial statements that you can use to manage your business’ growth and cash flow. The basic tasks we will handle are the same as what any other quality bookkeeping provided would do – except that we have developed highly automated systems, and our team is experienced in handling the nuances of early stage, venture-funded companies.
“Our account managers have an average of 6 years of experience and are experts in helping young, funded businesses with their bookkeeping. “
But that experience helps our team goes beyond simple, outsourced bookkeeping, and offer financial advice and due diligence.
When revenue or expenses happen, it is your bookkeeper’s job to record these into your company’s accounting system. This probably involves categorizing the “transaction” in a way that makes sense, say a payment to your payroll provider as a payroll expense.
Traditionally this work was all done manually, but your tax and Accounting Solutions is a pioneer is using automated systems to make this process faster (and cheaper for our clients!). Early stage companies move quickly, and you need an experienced bookkeeper or accountant to review your books and financial records to make sure that the automated systems have not made any errors.
There are moments when automated systems are likely to introduce mistakes, such as when employee benefits are changed. Our team is trained to look for specific errors based on your company’s stage.
Companies that raise venture capital need to have accurate books – in fact, a company’s executives typically promise recurring delivery of accurate financial records to venture investors in the funding documents.Reconciliation is an important step in bookkeeping. This is when your bookkeeper makes sure that the different records balance, and that the money leaving an account (like your company’s bank account) matches the actual money spent. Reconciliation is an especially important part of bookkeeping for funded companies since investors (and potential acquirer) expect accrual accounting and financials that are close to GAAP.
Your Tax and Accounting Solutions helps set up connected, automated systems that help do much of this work automatically. But we go the next step and have our experienced team do several levels of reviews to help catch anything that the automated systems might miss.
Investors, board members and experienced founders want to see three important financial statements, usually every month: the income statement, cash flow statement and balance sheet.
Bookkeepers have been preparing these financial packets for ages, but modern bookkeepers like Your Tax and Accounting Solutions use automated systems with best-in-class off the shelf solutions to give early-stage startups low cost, highly accurate financial statements, and financial reports. However, not all founders are trained finance professionals – software and financial packets are only half the story.
Your Tax and Accounting Solutions accounting team knows how to explain what financial statements mean and how important metrics impact a startup’s strategy.
Copyright © 2024 YTAAS | All Rights Reserved
