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On the Books is an accounting services and business consulting firm focused on guiding technology and life science businesses through the startup lifecycle. We serve as your accounting department so you can focus on fundraising and growth.
Early Stage: This stage begins with an idea for a product or service that has potential to get traction and generate funding and value. Your team may have just one or two people who wear all of the hats in the organization while you build the foundation of your business ahead of your launch. Other names for this phase include: seed, pre-seed, post-seed, pre-A, seed extension.
Your accounting at this stage is largely based on compliance for tax filings and financials for funding. We spend a lot of time in this phase building your accounting systems (A/R, A/P, month end close, etc) for efficiency and accuracy. We also discuss your contracts and invoicing to determine how current and future revenues will be recognized.
Growth Stage: You enter this phase when a Series A Investor believes your company has a great product or service and you have a plan and the talent to scale. Your company is now making the transition from building a product/service, demonstrating market fit, proving a sales process that will lead to scalable growth, to a company that has investors with expectations for hitting specific milestones.
At this stage you may have a Fractional CFO who is working with external stakeholders to secure funding and guide strategy. We can serve as your controller (and/or the rest of your accounting team) to support the additional financial reporting responsibilities. Your financials may be reviewed or audited at this stage so internal controls and GAAP accounting will be crucial. Accruals and deferred revenue schedules will be created, and we’ll review them with you monthly.
Late Stage: At this stage you switch gears from focusing on potential to focusing on executing on the business plan. You have dependable funding and you’re experiencing organic growth.
We will continue to grow with you as you as you scale or prepare for a potential exit. When you do exit, we’ll be there for the due diligence phase, providing financial data, historical context, and additional support. We will also remain in place throughout the transition of your company to the new owners to ensure a smooth transition.
We work with companies throughout the U.S., but a large majority are headquartered in the Triangle of North Carolina. The companies that we partner with value timely financial data and believe in the power of cloud and mobile technology.
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