What additional accounting services are included in Gust Launch Raise?
When you upgrade to Gust Launch Raise, your company is likely preparing to hire and scale. Accordingly, Gust Launch Raise includes accounting services that handle the recognition of revenue and inclusion of payroll into your books. Because both of these services require accountants to have a much greater understanding of your business and how it works, they are a little more time consuming and therefore much more expensive on the open market.
Through Gust Launch Raise, our partners at Simplexity provide these services to founders at a much lower cost than other accountants. If your startup has already been using Gust Launch Financial Management, you’ll just want to schedule a call with your accountants when you start to generate revenue to help them understand the nature of your revenue streams and the jobs you pay your employees to do—to do so, just reach out to us at any time.
When you have employees, your payroll provider will give you payroll journal entries every time you run payroll. You’ll need to provide these journal entries to your accountants for them to be able to properly include the expense in your books.
The revenue and payroll-reconciliation accounting services your accountants offer in Gust Launch Raise add to the services offered in the Financial Management package, so you’ll still have your books prepared according to Generally Accepted Accounting Principles and receive bank reconciliation, email support, and monthly financial statements.
If you are upgrading to Gust Launch Raise without having added Gust Launch Financial Management previously, we’ll provide you with a Xero account and help you connect your bank so that your accountants can begin reconciling your existing books with their system. Currently, we don’t charge an additional onboarding fee if you’ve previously used other accounting software or accountants—we’ll just reach out when you upgrade to Raise so that we can begin the process.