Startup industry expertise in accounting and CFO services

Our team will ensure your financial records are immaculate, your metrics are on point, Accounting for Technology Companies and your financial story is compelling. We’ll help you anticipate and address potential investor concerns before they arise. Pilot is a provider of back-office services, including bookkeeping, controller services, and CFO services. Pilot is not a public accounting firm and does not provide services that would require a license to practice public accountancy. Even though we currently work with a lot of life science and biotech startups, we can also offer support and guidance at every business development stage. From assisting you in your next growth phase to helping you prepare for an acquisition, we’re here to help — whatever that means for you.

What are the key financial considerations for new accounting firms?

• We specialize in getting startups “VC-ready,” as you can see from our due diligence checklists.
• Want a more comprehensive look at how to set up the accounting and finances for your startup?
• If you’ve just started your own business, you might want to use an invoice template for keeping track.
• Our team will set up and manage all the processes to keep you out of your back office and vendors happy.
• Leverage our deep industry knowledge to create forward-looking financial models that guide smart decision-making and attract further investment.

Integrating accounting processes within other business operations can also help minimize costs. Embarking on your startup journey involves many exciting developments, but establishing an effective accounting system is non-negotiable. A well-structured accounting process forms the backbone of your financial health and compliance. Tracking and recording business transactions, including sales, expenses, cash flow, and operations, is crucial for accurately summarizing and analyzing your startup’s financial position and health. Accounting software is one of the most helpful and powerful tools you can add to your startup accounting toolbelt.

Free Course: Understanding Financial Statements

• Whether you’re bootstrapping or backed by VCs, Pilot supports startups at every stage.
• It provides clarity, enhances decision-making, and sets the foundation for sustainable growth.
• In startups, accounting is the process of recording, classifying, reporting, and summarizing financial transactions to provide financial information to make business decisions.
• And your online bookkeeping needs to be both fast and accurate, so you can carefully manage your burn rate as you develop your drug.

Ensure compliance with legal requirements by registering your accounting firm with the appropriate government authorities, obtaining necessary licenses, and adhering to tax regulations. From day one to your next funding round, our expert financial and startup accounting services operations services support your growth journey. Our expertise supports fast-growing fintechs with financial planning, reporting, and audits—allowing you to focus on innovation and disrupting the financial industry. Kruze records revenues and expenses into the company’s accounting system, categorizing transactions, reconciling entries, and reviewing books for accuracy. While some businesses opt for an in-house or staff bookkeeper, online bookkeeping typically provides the same service at a fraction of the cost.

When To Consider Hiring An Accountant

• Our portal makes getting timely responses to questions and noteworthy insights easier than ever before.
• Whether you’re a startup or scaling to an IPO, our services evolve with you.
• They identify available deductions, credits, and exemptions to optimise tax positions.
• In this case, you may want to consider managing your business’s books yourself.
• Your dedicated team learns your business and connects to your financial data sources, ensuring a tailored approach to your bookkeeping needs and setting the stage for accurate books.
• We design tax strategies that optimize your financial position, minimize liabilities, and ensure compliance with federal, state, and local regulations.

Additionally, establish efficient business processes and systems to deliver high-quality services consistently. By carefully planning and executing these steps, accounting firms can successfully launch their businesses and position themselves for long-term success and growth. If you are looking to start a business in this segment, we’ll take you through all the steps on how to start an accounting business. With hundreds of VC-backed startups in NYC and beyond, the Kruze team of CPAs and accounting professionals has the knowledge to help funded startups.

Starting a new business venture is an exciting, albeit challenging, journey filled with many responsibilities and decisions. Proper accounting practices ensure regulatory compliance and provide a clear financial picture that is essential for informed decision-making and long-term success. Investing in the right accounting and bookkeeping service early on can save you time, reduce errors, and help you focus on what matters most—growing your business. For founders short on time or not confident in handling financials, outsourcing is a smart option. Services like Bench Accounting provide dedicated bookkeepers and user-friendly tools to keep your records organized, freeing you to focus on growing your business. I’ve had the pleasure of working with MyStartupCFO for over four years, and they have consistently exceeded my expectations.

• Before investing, consider your investment objectives and the fees and expenses charged.
• So, for example, if you have $50,000 in the bank and project spending $5,000 per month, you have ten months of runway even if you don’t make a dime in revenue.
• Cash-based accounting records transactions when cash is exchanged, while accrual accounting records transactions when earned or incurred, offering a more accurate financial picture.
• Not only will your books be kept by Certified Public Bookkeepers (CPB), they are also lower cost than many competitors.
• These are the Generally Accepted Accounting Principles that are used to standardize accounting practice across the US.
• Reducing costs will allow you to stretch your business’s dollars even further.
• Determine your budget before shopping around for services to make sure you are choosing the right one for your startup’s financial needs.

Expert Accounting & Bookkeeping Services to Propel Your Startup’s Growth

Help us have a productive first consultation by providing some additional information. We understand the unique challenges that come with growing a business and have the expertise you need to reach your goals. Stop worrying about tax prep, with expert support for federal and state income tax filings, 1099s, and Delaware Franchise Tax filing. NerdWallet Business Pro has the tools and resources you need to launch your business with confidence. Say goodbye to the drudgery of number crunching and embrace the freedom to focus on what truly accounting matters. Say goodbye to lengthy back-and-forths over email and hello to clear, organized communication with your bookkeeper.

Payroll

As the venture capital ecosystem in New York has grown, so has Kruze’s NYC client base. Per PitchBook data, New York City startups continue to raise ever-bigger amounts of VC funding at ever higher and higher valuations. A qualified tax CPA like Kruze can likely help these companies save millions per year in payroll taxes through tax credit advice. Pilot is a digital bookkeeping service dedicated to startups and growing businesses.

Accounting records every new business needs

Lastly, we examined how to budget for accounting services and employ cost-saving strategies to make these services affordable without sacrificing quality. On the other hand, outsourcing accounting services can be a cost-effective solution, especially for early-stage startups. Outsourced firms bring a wide range of expertise and resources that small companies might not afford otherwise.