It’s difficult for entrepreneurial organizations to create the right baseline infrastructure within finance and accounting. The reason is simple. In the early stages of growth, founders and leadership teams tend to de-prioritize the importance of accounting. Who can blame them when there are sales to be made, product to be perfected, and culture to be built? As organizations look to build scale beyond those early stages, finance and accounting takes on a critical role. Without strong process in finance and accounting it becomes nearly impossible to determine product profitability, create robust budgets/forecasts, or even raise money.
AGA executes day-to-day accounting for entrepreneurial organizations by leveraging the best-practices and processes we’ve developed by working with 200+ entrepreneurial organizations. We have the tools and processes that will help you build scale.
AGA’s tasks included the following:
- Successfully executed a full external financial audit within first 4 months of engagement, with the audit report issued on time, and over 3 months earlier than the prior year’s audit.
- Created financial infrastructure for the finance/accounting operations and worked directly with COO and CEO to ensure the structure of operations aligned smoothly with the rapidly growing business (revenue grew ~60% in first year of engagement).
- Took on an comprehensive finance role including ownership / execution of all day-to-day accounting operations, including monthly financial statement preparation, analysis and formal review with COO and CEO.
- Coordinated all ad hoc finance/accounting requests with various project development leads regarding capital costs, cash flow analysis, etc.
- Assisted with and led finance portions of due diligence for potential strategic investor
AGA’s tasks included the following:
- Clean-up prior year and YTD financials with new accrual accounting methodology.
- Assumed a holistic finance role including transactional close, payroll, financial statement preparation, and analysis.
- Built-out 26 week cash flow model as well as a 2018 operating budget.
- Held weekly finance status meetings and monthly financial reviews to review cash projections weekly and company performance monthly.
- Implemented new operational processes to provide visibility into profiitability by business line.
- Created and managed entirely of accounting operations (chart of accounts, invoicing, vendor management, month-end close, financial statement preparation, etc.)
- Used systems such as Expensify, Bills.com, QuickBooks and Gmail to manage the company’s day-to-day accounting operations in a streamlined fashion.
- Designed a financial package tailored to the company, reporting KPIs that are crucial to understanding the business such as working capital planning and analysis.
- Implemented and documented operational processes for each system used in day-to-day activity.
- An in depth analysis of the current finance / accounting infrastructure and a consolidated list of suggested solutions.
- Quickly and efficiently transition the day to day accounting needs into the experienced hands of AGA staff.
- Managed multiple vendor / system migrations during rebranding / relocation through the lens of setting up the finance function for scalable success.
- Became the steady hands of the finance function to allow leadership/ operations to focus on the several other changes occurring simultaneously
- Established streamlined day to day accounting processes, coupled with a formalized month-end close procedure at a more efficient cost to the company.
- Took on a comprehensive finance role including managed services, (invoicing, banking transactions) transactional close, and monthly financial statement preparation and analysis.
- Set up of financial infrastructure for the finance/accounting function and worked directly with CEO to ensure the structure of operations would go smoothly with the business model
- Created a monthly financial package as well as reporting tools and processes, working with all departments of the organization to create data-drive dashboards that combined financial and operational metrics
- Implemented new finance/accounting processes to better capture gross-margin by business line (HR, IT, Marketing) analysis
- Assisted CEO with partner buy-out and navigating strategic refresh for firm go-forward