Chart of accounts and close calendar
Advisory
04 / ADVISORY
Outsourced Bookkeeping
Monthly close and reporting when a full accounting team is not the next hire.
Founders and finance leads whose books have outgrown a spreadsheet or a part-time bookkeeper, and who are not ready to hire a full accounting team.
The work
The books get complicated before a full-time hire makes sense.
Outsourced bookkeeping is the monthly close, reconciliations, and reporting for a company that is not ready to hire a full accounting team.
Subscriptions, contractors, deferred revenue, payroll changes, and investor requests all show up while the founder is still closing the books. The work gets unreliable before a full-time hire is the right next step.
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Outsourced accounting
Outsourced accounting is the judgment on top of the records: accruals, revenue recognition, and statements a leadership team can use. Bookkeeping without that step produces a reconciled bank account and a report nobody trusts.
PIF Advisory runs both on one close calendar. The same team that categorizes the month produces the statements.
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Bookkeeping for startups
Bookkeeping for startups breaks at a predictable point. Payroll starts. A second bank account opens. Revenue is no longer a single deposit. An investor asks for a monthly pack, and the founder is still in the spreadsheet.
That is the point to hand the close to someone who does it every month. The founder should see the numbers, not produce them.
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How the work runs
We set the chart of accounts and a close calendar, then run accounts payable, accounts receivable, and payroll coordination against it. Each month ends with statements and a file a tax advisor, a lender, or an investor can follow.
PIF Advisory is an Oracle NetSuite BPO partner. When the ledger is NetSuite, the people who close the books are the people who know how it was configured.
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What you can expect
A close the leadership team can use. Numbers that match the bank. A package that does not have to be rebuilt the week someone asks for it.
Scope
What this practice covers.
The operating work inside this engagement, named clearly.
Monthly close and reconciliations
Accounts payable and receivable
Payroll coordination
Financial statements and management reporting
Documentation for tax, lender, and investor review
From the library
Related notes
Notes from the operating team that sit next to this practice.
FAQs
What to know before we begin.
The questions operators ask before an engagement starts.
Outsourced bookkeeping is the monthly close, reconciliations, and reporting for a company that is not ready to hire a full accounting team. PIF Advisory runs that work on a cadence, inside the systems the company already uses.
Outsourced bookkeeping records and reconciles what happened. Outsourced accounting turns those records into statements, accruals, and a close package that founders, a CFO, tax advisors, and investors can use. Most engagements include both, because the close is where the two meet.
Bookkeeping for startups usually needs to leave the founder when there is payroll, more than one bank or card account, revenue contracts, sales tax, or a close that pulls the founder off customers. That is the usual point to bring in outsourced bookkeeping.
Bookkeeping is the source of the numbers. An outsourced CFO uses those numbers for cash, board reporting, and the next round. When PIF Advisory runs both, the close feeds the finance work instead of becoming a second project.
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Practices
02
Outsourced Bookkeeping
Monthly close, reconciliations, and reporting.