Crypto Controller Services

Why ProfitLinq?

ProfitLinq provides leading crypto and blockchain startups with scalable, outsourced Controller services.  Because our primary focus is on the crypto space, we are well-versed in the challenges that come with crypto accounting, closing the books, establishing controls around your digital assets and providing the necessary reporting for investors, tax and legal authorities.

Get numbers you don't have to question

Our prOVEN PROCESS

Developing a scalable accounting infrastructure requires more than just understanding what you are doing today.  We start every engagement with a strategic discussion of where your business is heading.  We look at your product roadmap, your strategic vision and growth plans. From there, our team designs the accounting infrastructure, makes recommendations on the systems to use, and designs the overall accounting workflow to streamline processes and ensure compliance. After we gain agreement on the design and recommended systems, we implement the plan. Once that’s done, we then continue on with our clients in a Controller capacity, ensuring the books are closed, the processes are followed, and the reporting and KPIs are generated. Each month, we spend time with our clients reviewing their financial reports and checking in on any new developments in the company. 

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Crypto Accounting Process Design

Accounting processes for your crypto designed in collaboration with your CPA to ensure your financials reflect the optimal tax strategies.

Just as you spend time in product design, we feel that crypto accounting process design requires as much attention. We want to ensure that when you “go live,” the back end of your company doesn’t break or devolve into chaos.  That’s why we spend time up front making sure we design crypto accounting processes that can scale with your business and provide the proper controls and checks and balances to give you peace of mind. We will understand how your smart contracts work so that all revenue and expenses are properly captured as well as properly recording transactions related to security and utility tokens. We’ll also make recommendations on crypto controls, suggest optimal wallet setups, and recommend segregation of duties for both fiat and crypto transactions. For clients with overseas entities and complex tax structuring, we ensure the accounting processes are aligned with the strategy, transfer pricing transactions are recorded properly, and the recordkeeping and processes are clearly defined and followed, so our clients stay compliant with tax and legal regulations. 

Crypto Controls

Monthly Financial Reviews

Systematic reviews with the leadership team to measure past performance and uncover profitability and cash flow opportunities

The keystone of every engagement is our monthly financial reviews.  We find that our clients value the time with us to review financial performance, identify issues, and discuss strategic next steps. We don’t spend time pouring through spreadsheets, rather, our clients get web-based dashboard and financial reports that allow them to see trends and spot trouble easily, and focuses the conversation on action items and future opportunities. Our monthly meetings start with an analytical review of your financials and Key Performance Indicators (KPIs) and then focus on action items and activities to improve results.

Process Documentation

Standard Operating Procedures

Build a scalable, repeatable and documented back office function. Build company value and make it easier to onboard new hires.

Most of our clients know that standard operating procedures (SOPs) are critical to building a scalable business.  The same goes for a company’s accounting. Our Controllers help establish standard operating procedures around the accounting processes that produce timely and accurate financials, capture the complexity of crypto transactions, and ensure compliance with complex tax and legal structuring.  In addition, our SOPs focus on streamlining processes, while ensuring the proper controls are in place.  From suggesting the optimal wallet set up, to designing processes and controls around your crypto and fiat transactions, our standard operating procedures are designed to efficiently provide accurate, timely financial reporting. 

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Cap Table Management

Avoid dilution by having an updated view of equity positions. Implement technology to track investments, options and valuations.

Whether you are issuing SAFEs or SAFTs or taking equity in traditional forms, keeping your cap table
current is critical to accurately reflecting ownership in your company on your financials. We’ll help select
the right cap table software for you, and work with your counsel to ensure that all transactions are
recorded properly and properly reflected on your balance sheet.

Financial Coaching

Cash Flow Forecasting

Get a better understanding of your cash runway. Gain visibility into the next 13 weeks to 18 months to make better decisions.

Cash is the lifeblood of business. Yet many companies don’t feel they have a good handle on how long their last capital raise will last. Understanding the cash inflows and outflows of your business will not only help you sleep better at night but will also give you better control over costs. We take a proactive approach to cash flow forecasting, meaning that we spend time developing processes to capture that information and give you (and us) better visibility to upcoming expenses. That translates to fewer cash flow surprises and a comfort level that you have enough cash reserves to continue to hire and grow. 

Mentoring for Accounting Staff

Accounting System Selection

Ensure you are on the right platform which can scale with your business, has the appropriate features and streamline your workflow.

When selecting an accounting system, you want to make sure it will not only be able to handle your accounting needs today, but also in the future. That is why we always try to understand the long-term plan so we select the right system for both your fiat and crypto transactions. Making sure we understand what chains and exchanges you will be using, what your reporting and compliance needs are, as well as what analytics we need the system to generate all factor into accounting system selection.  We want to make sure whatever system we suggest, whether it is QuickBooks, NetSuite or any of the leading crypto accounting software packages, the system will be able to scale with your business.  

What you can Expect

When you work with us, you can expect to get a team of seasoned accounting and finance professionals who know and understand blockchain technology and cryptocurrency, and who can strategically position your back-office accounting to grow with your company. Our team, based 100% in the United States, will work closely with you to develop an accounting plan that not only provides you accurate, timely financials, but a level of sophistication that will impress your investors and keep you on the right track.  From helping you to select the right accounting system, to implementing scalable processes and controls, to monthly reviews and cash flow forecasting, when you work with us, you will have confidence in your numbers and a scalable team that can help you grow.