Financial System and Reporting Setup: Working the “Digital Shoebox” into Solid Financials

< 1 min read

Services: CFO, Accounting

We worked with a startup company that had been operating for a year but had kept no formal accounting system other than a number of spreadsheets in various locations. The spreadsheets worked fine for a while, however, the client needed to raise funds from outside investors and file his taxes. That meant he needed credible, auditable financials to be put in place. Our team met with the client to get an overview of the business so we could properly set up the books, and then took his various spreadsheets and receipts (what we lovingly dubbed his “electronic shoebox”), and set up a QuickBooks file, recreating the financials for the fiscal year and giving him a complete set of accurate, up-to-date financials to present to investors.

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