Month-end close set-up for startups

You build a documented month-end close for a startup, with a checklist, reconciliations and a reporting package, so the founder gets reliable numbers within 10 business days.

Who pays
Founders and first finance hires at startups
Typical price
$100 to $250 an hour, or $1,500 to $8,000 a month
Start-up cost (estimate)
Under $1,500
Time to first offer (estimate)
1 to 3 weeks
■The problem

See the problem this business solves.

Many startups take 15 days or more to close, often on a cash basis, with a bookkeeper who records transactions without reconciling accruals, deferred revenue or prepaid expenses. APQC benchmarks put the median close near 6 calendar days, so a slow close leaves founders sending investors stale or incorrect numbers.

Founders put off the fix because the books look fine until a fundraise, a first audit or a board meeting exposes the gaps. A full-time controller costs $180,000 or more a year, which feels like too large a step for a company under $5M in revenue.

■How it works

Follow the 3 steps from first call to paid work.

01

Close diagnostic

You review the last 3 closes, the chart of accounts and the tools, then list what breaks and why.

02

Build sprint

You write the checklist, set up reconciliations and accrual schedules, and run the first close with the team.

03

Handover

You train the bookkeeper and offer a monthly review retainer to keep the process on schedule.

■Who buys

Know who pays and why they say yes.

The buyer

CEO or founder

They sign investor updates and feel the pain when numbers change after they send them.

The budget

Fundraise or audit prep

Investors and auditors ask for accrual-basis statements, which gives the founder a deadline and a reason to spend.

What buyers pay: $100 to $250 per hour; ongoing controller support runs $1,500 to $8,000 per month

Where to meet them

Seed to Series B startups

Common triggers include closes longer than 10 to 15 days, a first audit, ASC 606 revenue questions and approaching $5M in ARR.

■First clients

Find your first 3 clients here.

There are 4 places to start, in the order most people find their first buyers.

1

Your own network

Tell founders, CFOs and former teammates that you set up month-end closes for early-stage companies.

2

Bookkeepers and startup CPA firms

Bookkeepers without controller skills and tax CPAs who see messy books can refer clients to you.

3

Accelerators and VC platform teams

Offer a close workshop to accelerator cohorts or to VC portfolio finance programs.

4

Close templates

Share a free close checklist or reconciliation template on LinkedIn and invite founders to ask questions about it.

■Risks

Check what could stop this business.

Every idea has weak spots. These are the ones to test before you spend money.

Quote cleanup as a separate phase so the setup scope stays fixed.

List deliverables and an end date in the proposal and price monthly help separately.

Confirm the accounting stack before the build and document settings as you go.

Use a clear engagement letter and carry professional liability insurance.

■Related

Compare it with ideas from the same careers.

Starts from this career

Finance

Fractional FP&A for software companies

Operations

Supplier cost audits

People and HR

HR policy set-up for small companies

■Sources

Check the numbers behind this idea.

■Free live training, once a month

Test this idea against your own career at The Shortlist.

You bring your career history. You leave with 3 candidate directions of your own and the 4 tests that cut them down to one.

Ask us anything.

Questions about the toolkits, Plan A, mentorship, or whether any of this fits where you are right now. Send it here and a real person answers, usually within a day.

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