Accounting and Bookkeeping Services

Keep your House in Order.

Up to date, complete and accurate financials - you can't run a business without them. Many founders struggle to get their accounting team, systems and processes dialed in. This means missed opportunities, awkward conversations with investors, and poor management decisions. 

  • A whole finance and accounting team
  • Modern cloud-based technology
  • Up to date, always ready

Key Benefits - Accounting and Bookkeeping

Correctness

We deal with each transaction with the care and experience that comes from decades working with startups and VCs.

Information at the Ready

Your books are closed monthly and the data is ready for analysis or decision making. We use cloud technology so you can access your books any time.

Free time, focus on growth!

Your time is valuable, you should be operating at an executive level. We free up your time from administrative and bookkeeping tasks.

What We Do

We act as internal bookkeepers and accountants for your company. We'll keep your records up to date, accurate and comprehensive. All your bookkeeping transactions will be recorded quickly and in the right place so you can count on your numbers. You'll feel the impact as your executive and operations teams are freed up to focus on scaling the company.

We've got the people, processes and technologies we need to handle your Accounting and Bookkeeping function quickly and accurately. We use startup-grade cloud-accounting technology to ensure that your financial operations are ready to scale with the business.

Accounting for Startups 201

AR/AP

Customer and vendor set-up and maintenance
Invoicing and bill payment
Accounts receivable
Accounts payable


Payroll
Payroll processing
Year-end 1099 reporting
Payroll tax


Bookkeeping close

Expense classification
Credit card and bank reconciliation
Monthly close


Tax

Payroll tax
Sales tax

Case History

Genies

Accounting Services

From nothing to a clean audit and $40m raised.

Background

Genies is a software tech startup that started out of a University of Pennsylvania dorm room. Their technology is used by other software developers in the entertainment industry to produce avatars.

Before

When Genies approached Coffinity, they had just completed a $3m raise and had 7 employees.

Challenges

Genies needed to get their accounting cleaned up to complete tax returns, and to proceed with an audit required for another investment round.  They had poor documentation, internal controls and systems. Their cap table was large and complicated, and managed in excel.

Solutions
  • Started as a basic bookkeeping client, evolved to being the complete inside accounting and finance department.
  • Implemented Carta for cap table management
  • Worked with auditors to complete the first audit
  • Routinely complete all transactional accounting
  • Complete financial reporting
  • Manage outside firms for tax accounting

Impact
  • Passed first audit with a clean opinion
    Raised $40 million.
  • Dealings with the major entertainment studios


"Mike Long has been a fantastic member of the Genies executive team. He has helped us grow from a few employees to over 30 by putting in place practices and systems to enable and sustain growth. His insights have helped us scale our revenue, track spending, and do effective financial projections. Mike and team are key parts of the Genies growth story."

Evan Rosenbaum

CPO / CO-FOUNDER, GENIES


High-Growth Clients


Our Expertise

Coffinity uses and supports the best technologies for managing your Accounting, HR and back office operations.

Ready to Start a Conversation?

Call Mike...

I cannot recommend [Coffinity] highly enough. Indeed, if my son wanted to start his own business today, my first recommendation would be “call Mike"

Bill Melton

Entrepreneur and Venture CapitalisT

Founder of Verifone, CyberCash


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