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6 Strategies To Help Any Startup Stay Organized

Posted by Celene Robert to Business Advice, Startup Tips


 

Congrats! You’ve begun exciting process of launching a new startup. So, what's next? Well, it's time to prepare yourself for a lot of decision making, decisions that can directly impact how successful your company is in the future. If you’re looking to grow your business in the coming months—and let’s be real, who isn’t looking for that—this is the time to be intentional, to get laser-focus on building a strong foundation that empowers you to handle any uncertainties that inevitably will arise.


This is easier said than done, especially for a new business that might be dealing with limited funds and even less time. To help you get started, we’ve got some basic strategies to creating an organized, structured approach for future expansion and growth.

GAAP: What It Is and Why Your Investors Expect It

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

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.

The 8 Essentials of 409A Valuations

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.

4 Tax Act Changes That Affect Business Owners in 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

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.

Your Startup's Success Might Be Hindered By Your Accounting Method

Posted by Celene Robert to Accounting, Business Advice, Startup Tips

As a startup founder, you need the right financial data in order to make decisions that put you in a position for growth. The right financial information will help you understand your investments, build a financial forecast, and plan for future funding raises. In order to get this information and really understand how you’re performing, you need accounting that looks forward––aka accrual accounting.


Accrual accounting is the most accurate, useful, flexible, and shrewd accounting method. So why do so many businesses neglect to use it?


One reason is that for non-finance people, the term “accrual accounting” is perhaps the most boring combination of two words in the English language, and explanations of what it is and how it works tend to be equally tedious. With that in mind, I’m going to explain accrual accounting through a decidedly not dull example.

How inDinero Helped Moozicore Bring its Digital Jukebox to the U.S.

Posted by Celene Robert to Customer Spotlight, Accounting, Business Advice, Case Studies, Funding, Startup Tips

When was the last time you were at the gym, and cringe-worthy music completely distracted you from your workout? Or worse, while enjoying celebratory drinks out with friends, has gloomy background music brought down the atmosphere? Music is the social glue that binds us together, and yet in public spaces, we’re exposed to music we don’t like and no ability to change it.


Polish entrepreneurs Hubert Kawicki and Adam Krzak created a digital jukebox, Moozicore, to allow you to create your ultimate playlist at gyms, restaurants, or clubs directly from your phone. Giving the power back to the people, it starts at only 50¢ a song.

QuickBooks vs. inDinero: Which Is Right for Your Business?

Posted by Celene Robert to Taxes, Accounting, Business Advice

 

If you’ve made it this far, I assume you’ve done your research on QuickBooks alternatives and are thinking about buying inDinero. So the next logical question is, “how does QuickBooks compare to inDinero?”


Great question, self! The difference between QuickBooks and inDinero is a topic we run into frequently in our conversations with founders. Outside of those conversations, there’s no shortage of blog articles, Quora posts, and side-by-side reviews attempting to provide answers as well.


Let’s settle the question for good.

Which Financial Professionals Do You Need When Fundraising?

Posted by Celene Robert to Accounting, Business Advice, Funding, Startup Tips

“You have to spend money to make money.” The familiar business adage is perhaps nowhere more true than when it comes to fundraising. From researching VC firms to developing the pitch deck to buying that carbon fiber bike and lycra suit for cycling-based networking, finding investors is an investment in and of itself.


With the right team of financial professionals, however, you can minimize your upfront expenses and maximize your fundraising ROI (or is that ROIOI?). Whether strategizing with you as a co-pilot or merely taking some responsibilities off your plate, bookkeepers, accountants, controllers, and CFOs all play major roles in your startup’s fundraising success.