What is included in each Financials package?
Gust Launch currently offers three Financials packages to cover your bookkeeping and accounting needs. All of our bookkeeping services are provided by the expert bookkeeping team at Simplexity, who keep all work in-house and have a long history of working with startups.
The most basic bookkeeping package is designed for startups with no financial history, to ensure that their bookkeeping is done correctly from the earliest point in time from which it is necessary to keep financial records. It includes bookkeeping services provided by Simplexity as well as Xero accounting software (which Simplexity will use, but you'll also have full access).
This package includes:
- Accrual-based accounting setup
- Transaction coding directly from the integration of one bank and one credit card account
- A monthly balance sheet, profit and loss statement, cash statement, bank reconciliation
- Email support
To learn more about the banks and credit card providers set up to work with our software, please see this FAQ.
What would this cost me outside of Gust Launch?
Pre-Revenue is available at a cost of +$99/month on top of your base Gust Launch subscription. We’re able to pass on significant price savings through our partnership with Simplexity. Their prices for this level of bookkeeping start at $399/month if you went to them directly.
Are there additional fees to get started?
If you have already spent money on your business (e.g. on a personal credit card), Simplexity can start your company by recording your previous transactions for a one-time onboarding fee of $100.
Revenue & Billing package
For businesses with greater financial complexity, Simplexity provides additional bookkeeping services to Gust Launch customers for a significantly discounted price. As your business grows, you may move into an increased level of bookkeeping services, outlined below.
The Revenue & Billing package is designed for businesses that meet one of the following criteria:
- You have multiple products and would like to account for revenue by product
- Your revenue requires matching to a customer accounts receivable account, as opposed to a general accounts receivable that aggregates outstanding invoices
- You receive and record bills that need to be processed and paid by Simplexity
- You have payroll costs that need to be categorized by department
- You require cost of goods sold (COGS) to be tracked in aggregate
Revenue & Billing is +$199/month above your base Gust Launch subscription (this starts at $799/month if you went to them directly) and requires a Bill.com “Team” subscription ($39 / month). Included in this package is:
- Everything included in the Pre-Revenue package
- Accounts Payable for unlimited monthly bills
- Unlimited journal entries
- Live chat support
- Cash monitoring
- One merchant account sync (e.g. PayPal, Stripe, Square, etc.)
As your business evolves beyond the capacities listed in the above packages, we’ll work with you to create a custom plan. This becomes necessary when your business meets any of the following criteria:
- You require Simplexity to issue invoices and collect invoices that are past due
- You would like Simplexity to process payroll and payroll taxes
- You require cost of goods sold (COGS) to be tracked per product category
- You need to track and account for inventory
This level of support is customized depending on your company’s individual needs, for a significantly discounted price. For specific inquiries or a custom quote, please reach out to us.