Bookkeeping for startups, closed on a fixed date every month
Investors and diligence teams expect accrual statements and a burn figure tied to your bank accounts. A managed Velorus team keeps your startup's books current in your accounting software and closes them on a fixed date each month.
- Cash books, accrual questions
- Many founders start on cash basis, then an investor or diligence request needs accrual statements and months of history get rebuilt.
- Card spend nobody coded
- Brex, Ramp and Mercury charges pile up uncategorized with missing receipts, so burn changes depending on who pulled the number.
The books
What makes startup books different
Startup books get read by investors, auditors and your CPA, so they need accrual entries and a close that lands on the same day every month.
| Area | What it involves | What the team does |
|---|---|---|
| Accrual-basis books | Revenue recorded when earned and expenses when incurred, with prepaids and accrued liabilities, so statements match what investors and diligence teams expect. | Books accruals, prepaids and payables each month using the policies your CPA sets. |
| Deferred revenue | Annual or upfront SaaS contracts bring cash today but revenue over the contract term, following the recognition policy your CPA sets. | Keeps the deferred revenue schedule and posts the monthly release, tied to your billing data in Stripe. |
| Burn and runway | Net burn comes from the cash accounts after the close, and runway is only as good as that number being current and consistent. | Reports monthly net burn and cash on hand from closed books, using one definition agreed with you. |
| Card and spend coding | Corporate card charges from Brex or Ramp arrive with merchant names instead of accounts, and receipts go missing on remote teams. | Codes card charges weekly, chases missing receipts and flags spend outside the policy you set. |
| Research and development costs | Engineer salaries, contractors and cloud hosting can matter for the R&D credit and research cost treatment, which your CPA decides. | Tags engineering payroll, contractors and hosting by project so your CPA gets clean detail. |
| Payroll entries | Gusto or Rippling runs payroll, but wages, employer taxes and benefits still have to land in the right accounts by department. | Checks each payroll journal entry against the payroll register and fixes entries posted to the wrong account. |
| Board and investor reporting | Board decks and investor updates quote the same revenue and burn figures, so a mismatch between them draws questions. | Prepares the monthly financial package your board deck and investor updates draw from. |
What the Velorus team handles
- Weekly coding of Brex, Ramp and Mercury transactions
- Bank, card and Stripe payout reconciliations
- Accounts payable, bill entry and vendor records
- Customer invoicing and collections tracking
- Deferred revenue schedule and monthly release entries
- Payroll journal entries checked against Gusto or Rippling
- Month-end close with accruals and prepaids
- Burn, runway and board package from closed books
What stays with you and your CPA
- Federal and state tax returns, prepared and signed by your CPA
- Delaware franchise tax and annual report, if you are a Delaware corporation
- R&D credit claims and the tax treatment of research costs
- Revenue recognition policy, and audits or reviews for fundraising
- Cap table and equity records in Carta, managed with your counsel
- QuickBooks Online
- Xero
- Stripe
- Brex
- Ramp
- Gusto
We work inside QuickBooks Online or Xero, Stripe, your card platform and Gusto or Rippling with the logins you provide, following the chart of accounts your CPA approves.
Want the books closed on schedule every month?
Tell us where your books stand and which software you use. We will come back with the team, the close calendar we would start from, and what the first month looks like.
The calendar
Your month, closed
- Every week
-
Code cards and reconcile cash
We code card and bank transactions, chase receipts, match Stripe payouts to deposits and enter bills so payables stay current between closes.
- Month end
-
Close on a fixed date
We book accruals, prepaids, the deferred revenue release and payroll entries, reconcile every account, then send the package with net burn and runway.
- Each quarter
-
Ready for board and investors
We tie out quarter figures for board decks and investor updates and summarize research cost detail for your CPA to review.
- Year end
-
Hand clean books to your CPA
We run the final close and prepare fixed asset and research cost detail, contractor totals for 1099 filing, and the schedules your CPA needs for returns.
Every week
What your weekly report tracks.
A named Velorus manager reviews the work against the standard you signed off, and sends you one report.
-
Net burn for the month
Shows how fast cash is leaving, from reconciled accounts, using the same definition every month.
-
Runway at current burn
Tells you how long the cash lasts, so fundraising timing is planned from real numbers.
-
Uncoded or unreceipted card charges
Open items make burn and department spend unreliable, so they should be cleared before the close.
-
Deferred revenue balance and release
Shows contracted revenue still to be earned and what moved into revenue, tied to your billing data in Stripe.
Your options
A managed team, compared.
| Velorus managed team | In-house bookkeeper | Bookkeeping firm | |
|---|---|---|---|
| Investor-ready monthly close | Named manager, fixed close date, weekly review against a written standard | Knows the company closely; the close can slip when that person is out | Set processes and a team, with staff usually serving several clients |
| Who does the work | Trained specialists under a named Velorus manager | One employee you hire and manage | Staff the firm assigns, which can change |
| When someone is out | The team covers and the close stays on schedule | The work waits, or you cover it | Depends on the firm |
| Reporting | A weekly report plus the monthly close package | Whatever you set up | Monthly statements, depending on the package |
Questions
What startups ask first.
What does bookkeeping for startups include with Velorus?
We code card and bank transactions weekly, reconcile accounts, handle payables and receivables, post payroll journal entries, keep deferred revenue schedules and close the books on a fixed date. You get a monthly package with net burn and runway, plus a weekly report. Your CPA keeps tax returns, franchise tax, R&D credit claims and audit work.
Should my startup keep its books on the accrual basis?
Investors, lenders and auditors generally read accrual statements, and SaaS companies with annual contracts need deferred revenue to show earned revenue. The method used on your tax return is a separate decision, and some companies keep accrual books while the CPA makes any adjustments the return needs. Your CPA decides which approach fits your company.
Where is the team based and what hours do they work?
Your specialists are based in the Philippines and work US hours, so they are online during your business day. A named Velorus manager owns the output, reviews the work every week against the written standard agreed at scoping, and is your contact for questions about the books.
Can you help us get ready for due diligence or an audit?
We keep accounts reconciled, schedules for deferred revenue, prepaids and accruals current, and supporting documents attached to transactions, which are the records diligence teams and auditors typically ask to see. The audit or review itself is done by an independent CPA firm, and your CPA and counsel lead the diligence response.
Get your startup books closed every month
Tell us your accounting software, card platform and how far behind the books are. We will scope the work and the written standard with you. Book a call to start.