GAAP. It may seem like accounting jargon, but if your business is entering a Series A round and you’ve begun to have serious discussions with potential sources of capital, those four letters can be the difference between securing and losing out on funding. That’s because investors, banks, and other outside parties expect your business to comply with GAAP.
Let’s back up. What is GAAP accounting, and why is it important? What are the benefits of GAAP? When is GAAP necessary? Which businesses must use GAAP?
So many questions, so few clear answers out there for business owners who aren’t already CPAs. Here’s everything you need to know about GAAP—what it means, why it matters to your startup, its pros and cons, and when you should start thinking about making the switch to GAAP accounting.
The invention of smartphones forever changed the way we work with each other. Information is available anywhere we want it, whenever we need it. Whether it's finding a decent cup of coffee within walking distance or filing your taxes, everything can be done on the move. And when you’re a busy startup founder, having your business operations available at your fingertips means less time doing menial tasks and more time finding that secret sauce to success.
Of course, there are just some things that can’t easily be done on a tiny, 3 inch screen—building a financial presentation for your next board of directors could be tricky when your thumbs are bigger than that microscopic keyboard. Yet, when it comes to resolving basic accounting tasks or asking a question about your business taxes, accounting apps just make sense.
As the state of technology continues to evolve, inDinero looks ahead, ensuring businesses have what they need to succeed, from mobile apps to CFOs available to guide you through your next funding round.
They’re the two words that can make or break a deal with an investor—the two words that cause even the most seasoned entrepreneurs to grimace:
Due diligence.
Make no mistake: due diligence can be stressful. But amidst all the fun and exciting parts of attracting investors to your business—innovating, creating a brand, traveling, pitching ideas, forging new connections—due diligence is always a necessary step. It’s how you build trust with investors. It’s where you show your work.
It’s that time of year again. Tax season. This time, you’re sure you’ve got things under control. Yes, you’re stressed, you have eight different spreadsheets open on your screen, and you’re waiting for yet another government website to load, but you’re almost at the finish line. And after spending hours filling out multiple forms—triple-checking that you’ve made the right estimated payments, tracked the right expenses, and applied the right deductions—you finally file your taxes.
If there is one statement that holds true for all startup founders regardless of industry, it's this—there just aren't enough hours in the day. Between developing and promoting your product managing finances and fundraising, and overseeing vendors, clients, and employees (not to mention living your personal life), you can’t get it all done in a day. Thankfully, technology can alleviate some of that burden and help you work more efficiently. Here are five ways technology can help you add hours to your day..
Let me put that number into perspective. In 2016, the SaaS public market was worth $38.5 billion. We’re talking about an already-booming industry with the power to nearly double in size in just four years.
Which leads me to my other piece of good news: SaaS companies present enormous opportunities for investors. But you probably knew that. Maybe you have a few investors on board and engaged in a funding round right now.
In any case, I’m here to help you attract investors and consistently exceed their expectations. The key, much like that $76 billion figure above, lies in the numbers. Take a look at a few essential metrics investors pay close attention to when evaluating your company’s performance:
What is a 409A valuation? Why is it important, and when do you need one?
Countless startup founders have asked these questions, and yet the answers remain frustratingly long and tedious. Like so many tax-related topics, 409A valuations are in desperate need of a rebrand. The term derives not from a jumble of numbers and letters picked from a hat, but from Section 409A of the Internal Revenue Code, which regulates nonqualified deferred compensation paid to plan participants.
Bored yet? Let’s break down the essential things you need to know about this complicated topic.
We survived the long Thanksgiving weekend (but barely). It’s time to put the unbutton-your-jeans level overeating of turkey and harrowing Black Friday shopping experiences behind us and look forward to the joyful holiday season. Celebrating the holidays comes in many shapes and forms and one of our favorites is #GivingTuesday.
Now in its seventh year, this global day of giving kicks off the charitable season by encouraging people to give to organizations, charities, and initiatives that are doing good. Raising an estimated $274 million in 2017, #GivingTuesday has grown into a motivational movement showcasing local and national nonprofits, charitable movements, and community events.
Looking for ways to participate this #GivingTuesday? Here are four of our clients’ and employees’ favorites to stir your charitable spirit:
Like so many others in the tax industry, we’ve spent the last 10 months combing through the 100+ page Tax Cuts and Jobs Act (TCJA) of 2017. There are many changes. Some of those changes are still being studied by accountants and the IRS alike, so it’s impossible to detail them all here. But we pulled out the top four changes you should know about the new law that could affect your 2018 returns.
If there’s one four-letter word on the mind of every investor, it’s “risk.”
While virtually all investment opportunities involve some level of uncertainty, the people and organizations who eventually invest in your company—be they bank lenders, venture capitalists, or your friends and family—are the ones who are confident they have minimized their risk. Sure, they want to feel excited about an opportunity, but what they’re ultimately looking for is a safe bet.
How can you ensure that the company you’ve built poses the least amount of risk to investors possible? The answer is in your books.
Portland
GAAP: What It Is and Why Your Investors Expect It
June 25, 2019 Posted by Celene Robert to Investment, Business Advice, Funding
GAAP. It may seem like accounting jargon, but if your business is entering a Series A round and you’ve begun to have serious discussions with potential sources of capital, those four letters can be the difference between securing and losing out on funding. That’s because investors, banks, and other outside parties expect your business to comply with GAAP.
Let’s back up. What is GAAP accounting, and why is it important? What are the benefits of GAAP? When is GAAP necessary? Which businesses must use GAAP?
So many questions, so few clear answers out there for business owners who aren’t already CPAs. Here’s everything you need to know about GAAP—what it means, why it matters to your startup, its pros and cons, and when you should start thinking about making the switch to GAAP accounting.
Never Miss A Beat with the inDinero App: Introducing the Mobile To-Do List
April 25, 2019 Posted by Celene Robert to Accounting, Business Advice, inDinero Product Updates, Startup Tips
The invention of smartphones forever changed the way we work with each other. Information is available anywhere we want it, whenever we need it. Whether it's finding a decent cup of coffee within walking distance or filing your taxes, everything can be done on the move. And when you’re a busy startup founder, having your business operations available at your fingertips means less time doing menial tasks and more time finding that secret sauce to success.
Of course, there are just some things that can’t easily be done on a tiny, 3 inch screen—building a financial presentation for your next board of directors could be tricky when your thumbs are bigger than that microscopic keyboard. Yet, when it comes to resolving basic accounting tasks or asking a question about your business taxes, accounting apps just make sense.
As the state of technology continues to evolve, inDinero looks ahead, ensuring businesses have what they need to succeed, from mobile apps to CFOs available to guide you through your next funding round.
Due Diligence: What It Is, What to Expect, and How to Make It Out Alive
February 15, 2019 Posted by Celene Robert to Investment, Funding, Startup Tips
They’re the two words that can make or break a deal with an investor—the two words that cause even the most seasoned entrepreneurs to grimace:
Due diligence.
Make no mistake: due diligence can be stressful. But amidst all the fun and exciting parts of attracting investors to your business—innovating, creating a brand, traveling, pitching ideas, forging new connections—due diligence is always a necessary step. It’s how you build trust with investors. It’s where you show your work.
5 Common Ways Small Businesses Screw Up When Filing Their Taxes
January 30, 2019 Posted by Celene Robert to Taxes
It’s that time of year again. Tax season. This time, you’re sure you’ve got things under control. Yes, you’re stressed, you have eight different spreadsheets open on your screen, and you’re waiting for yet another government website to load, but you’re almost at the finish line. And after spending hours filling out multiple forms—triple-checking that you’ve made the right estimated payments, tracked the right expenses, and applied the right deductions—you finally file your taxes.
5 Tech Tips to Add Hours to Your Day
January 04, 2019 Posted by Patrick Hearn to Accounting, Business, Startup Tips
If there is one statement that holds true for all startup founders regardless of industry, it's this—there just aren't enough hours in the day. Between developing and promoting your product managing finances and fundraising, and overseeing vendors, clients, and employees (not to mention living your personal life), you can’t get it all done in a day. Thankfully, technology can alleviate some of that burden and help you work more efficiently. Here are five ways technology can help you add hours to your day..
3 Essential SaaS Metrics to Exceed Investor Expectations
December 21, 2018 Posted by Celene Robert to Accounting, Business, Funding, Startup Tips
If you run a Software as a Service (SaaS) company—that is, if you provide licensed software via the cloud—I have some good news for you. SaaS is on track to reach a public market value of $76 billion in 2020.
Let me put that number into perspective. In 2016, the SaaS public market was worth $38.5 billion. We’re talking about an already-booming industry with the power to nearly double in size in just four years.
Which leads me to my other piece of good news: SaaS companies present enormous opportunities for investors. But you probably knew that. Maybe you have a few investors on board and engaged in a funding round right now.
In any case, I’m here to help you attract investors and consistently exceed their expectations. The key, much like that $76 billion figure above, lies in the numbers. Take a look at a few essential metrics investors pay close attention to when evaluating your company’s performance:
The 8 Essentials of 409A Valuations
December 17, 2018 Posted by Celene Robert to Business Advice, Startup Tips
What is a 409A valuation? Why is it important, and when do you need one?
Countless startup founders have asked these questions, and yet the answers remain frustratingly long and tedious. Like so many tax-related topics, 409A valuations are in desperate need of a rebrand. The term derives not from a jumble of numbers and letters picked from a hat, but from Section 409A of the Internal Revenue Code, which regulates nonqualified deferred compensation paid to plan participants.
Bored yet? Let’s break down the essential things you need to know about this complicated topic.
#GivingTuesday at inDinero -- 4 Inspiring Nonprofits Making An Impact
November 27, 2018 Posted by Celene Robert to Inside inDinero, Industry News
We survived the long Thanksgiving weekend (but barely). It’s time to put the unbutton-your-jeans level overeating of turkey and harrowing Black Friday shopping experiences behind us and look forward to the joyful holiday season. Celebrating the holidays comes in many shapes and forms and one of our favorites is #GivingTuesday.
Now in its seventh year, this global day of giving kicks off the charitable season by encouraging people to give to organizations, charities, and initiatives that are doing good. Raising an estimated $274 million in 2017, #GivingTuesday has grown into a motivational movement showcasing local and national nonprofits, charitable movements, and community events.
Looking for ways to participate this #GivingTuesday? Here are four of our clients’ and employees’ favorites to stir your charitable spirit:
4 Tax Act Changes That Affect Business Owners in 2018
November 16, 2018 Posted by Celene Robert to Taxes, Business Advice
Like so many others in the tax industry, we’ve spent the last 10 months combing through the 100+ page Tax Cuts and Jobs Act (TCJA) of 2017. There are many changes. Some of those changes are still being studied by accountants and the IRS alike, so it’s impossible to detail them all here. But we pulled out the top four changes you should know about the new law that could affect your 2018 returns.
5 Ways Bad Financial Data Can Cost You During Funding
November 09, 2018 Posted by Celene Robert to Investment, Business Advice, Funding, Mergers & Acquisitions
If there’s one four-letter word on the mind of every investor, it’s “risk.”
While virtually all investment opportunities involve some level of uncertainty, the people and organizations who eventually invest in your company—be they bank lenders, venture capitalists, or your friends and family—are the ones who are confident they have minimized their risk. Sure, they want to feel excited about an opportunity, but what they’re ultimately looking for is a safe bet.
How can you ensure that the company you’ve built poses the least amount of risk to investors possible? The answer is in your books.