The Hatchery: Start-up Support Services

 

SOAProjects brings a full range of accounting, tax and administrative services to early-stage companies in the Silicon Valley. We have a solid track record of providing highly customized and superior quality services on a very cost effective manner enabling management to focus on the growth of their company.

 

Our start-up support services are provided by handpicked and exceptional professionals. The quality of our people reflects our commitment and recognition that each and every project and every client of ours should get experienced, specialized and qualified professionals.

 

One of our key differentiators is that we keep our entire client’s data securely in the cloud, with the master key kept by the key decision-maker at the client. We provide exceptional service for our clients, and when they have grown to a size where they wish to bring these services in-house or make another change, all their data is available to them and can be switched at the press of a button. We offer a one-stop shop for all areas of accounting, finance, tax and bookkeeping; as well as preparing board packages and introductions to vendors, potential customers, business partners, law firms, banks and financing sources – VC’s, PE’s and financial institutions.

 

Start-up Support Services:

 

Set Up of Accounting System

    •   Assist in selection & implementation of accounting software or ERP Package
    •   Set up payroll services with service provider and set up in the system
    •   Historical data entry (if any)

 

Bookkeeping and Accounting

General Ledger Management
  • Maintain all books and records
  • Weekly update of general ledgers for all entities
  • Monthly reconciliation of cash, AR, AP and other GL accounts
  • Account for fixed assets and depreciation/amortization
  • Make necessary accounting accruals
  • Generation of monthly financial statements

 

Accounts Receivable Services
  • Invoice customers
  • Following up on collections, collect receivables and record cash receipts.

 

Accounts Payable Services
  • Vendor set up – obtain W9s, payment instructions and tax documentation
  • Management of AP – receiving invoices, setting up for approval, preparing payment batches and submitting payments by way of wire transfers and ACH payments or Record and write checks for approved vendor invoices

 

Period-End Accounting and Financial Close Services
      • Perform monthly accounting close, including accruals and prepaid entries
      • Prepare monthly bank and other account reconciliations and analyses
      • Account for fixed assets and depreciation/amortization
      • Review books and records to ensure proper recording of financial transactions
      • Calculate equity-based compensation – basic administration and accounting

 

Financial Reporting
  • Prepare Monthly Board Package
  • Prepare quarterly reporting package for investors
  • Prepare draft financial statements

 

Tax Compliance

  • Prepare income/franchise tax returns
  • Prepare property and local tax returns
  • Perform business license filings
  • Secretary of State annual reports
  • Sales & use tax
  • Tax Provision

 

Financial Planning & Analysis

  • Maintain financial model
  • Update the model with actual data each month and new developments
  • Creation of Excel-Based Budgeting and Planning Models
  • M&A and Divestiture support
  • Sales Commission Forecasting Model

 

Payroll

  • Process payroll and related tasks and processes
  • Set up new hire employees
  • Input Expense Claims, Bonus/Commission payments in the payroll system
  • Process final check for terminated employees

 

Human Resource Administration & Support

  • Prepare and provide new hire offer letters
  • Prepare and provide the new employee onboarding package
  • Communicate and enroll new employees into the benefit program
  • Process participants 401k and benefit program updates
  • Administrate PTO and Sick Leaves
  • Draft and deliver employee exit package
  • Select and implement employee benefits program
  • Open Enrollment at the end of the year
  • Facilitate generation and distribution of year end tax forms – W2 and 1099
  • Process Payroll of 1099 Independent Contractor and W2 Hourly employees
  • Calculate Bonus and commission plan

 

Full Service Incubator

  • Implement Go-To Market Strategy and Marketing assistance
  • Office Space & shared administrative services
  • Accounting, Finance & Legal Assistance
  • Access to bank loans, loan funds
  • Access to angel investors or venture capital
  • Advisory boards and mentors
  • Network contacts including strategic partners, customer
  • Help with regulatory compliance