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Zeni outsourced accounting services
Financial statement preparation
One of the primary responsibilities of an accountant is to prepare your financial statements, which include the balance sheet, income statement, and sometimes, the statement of cash flows.
These documents summarize your financial position and performance, helping with critical financial processes like budgeting, forecasting, and tax planning.
Zeni’s accounting service delivers balance sheets, income statements, and cash flow reports that stand out for their intuitive design and readability. Our user-friendly reports simplify complex data, making it easy for you and external users—like lenders and investors—to make informed decisions quickly.
Annual tax filings
Your startup or small business must file federal – and likely state – tax returns each year. Not only must they accurately reflect your taxable earnings, but they should ideally include all the deductions you’re eligible for too.
Zeni has a proven track record of keeping our clients in compliance with ever-changing tax regulations while maximizing their tax savings.
We’ve captured more than $3.65M in research and development (R&D) tax credits for our startup customers, submitted 100% of their annual tax filings on time, and triggered zero audits from the Internal Revenue Service (IRS).
Bookkeeping support
Bookkeeping generally refers to the recording of your business’s financial transactions and activities. Though technically separate from the accounting function, it’s closely connected, providing an essential foundation for all financial reporting processes.
Zeni’s offerings include access to startup bookkeeping services and AI technology that can handle a wide range of routine tasks. Most solutions can record basic transactions, but Zeni takes automation even further.
For example, Zeni uses optical character recognition to manage invoices, receipts, and statements, while providing insightful financial analysis. It also streamlines vendor management, automates journal entries, and ensures accuracy and GAAP compliance. Machine learning continually refines Zeni’s transaction recording to align with your preferences.
Access accounting experts
Zeni can automate many of the simpler bookkeeping and accounting processes, but artificial intelligence still isn’t a substitute for the human touch. That’s why our customers always get access to our software and a team of dedicated accounting professionals.
Our experts have decades of experience in accounting and tax services for venture-backed startups. And in addition to helping you maximize your tax savings while complying with regulations, they’re readily available to provide financial advice.
Whether you need help recording complex activities beyond the scope of AI or assistance using financial planning to inform your business decisions, you’ll have all the support you need.
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Other Zeni FinOps Services
Zeni is out to provide a one-stop shop for your startup's financial needs. To that end, we offer the following financial services in addition to our outsourced bookkeeping service and accounting solutions:
Payroll services
Let us handle all your payroll needs, including employee onboarding, ongoing management, and termination, ensuring your employees get paid and you’re always in compliance.
Outsourced CFO services
Get CFO-level guidance at a fraction of the cost when you need help with complex financial challenges, such as raising venture capital, projecting cash flow, or applying for a business loan.
Business Checking Account
Store your cash in a business bank account with no hidden fees that lets you earn up to 4.05% APY and provides $3M in FDIC insurance coverage on your balances.
Business Credit Card
Your very own business credit card with 1.5% cash back and zero hidden or monthly fees
Bill Pay and Employee Reimbursements
Automate your accounts payable and employee reimbursement processes for free with Zeni’s AI features, saving you both time and money.
Avoid the hassle of juggling multiple software solutions and service providers. Meet all your financial needs under one roof with Zeni's comprehensive platform and business consulting services, facilitating a streamlined financial management experience.
What is outsourced accounting?
Outsourced accounting refers to the practice of paying an external party such as a CPA firm to meet your accounting needs, rather than hiring a full-time employee to manage those things in-house.
You can outsource your entire accounting function or delegate specific aspects, such as financial statement preparation or annual tax filings.
If you want your outsourced accounting service to handle everything, you’ll typically need to hire an outsourced accounting firm.
However, you may be able to get away with hiring an individual, such as a freelance outsourced controller, if you only need limited advisory services.
Outsourced accounting has two main advantages over traditional accounting services:
- Cost: Outsourced finance and accounting tends to be more affordable because paying for professional services is cheaper than hiring a full-time employee. You pay only for what you need and avoid additional overhead and payroll costs.
- Flexibility: It’s often quite simple to adjust outsourcing accounting services as your needs fluctuate. For example, you can increase them when your startup experiences rapid growth or dial back when things are stable. That process is much more cumbersome with full-time employees.
The primary drawback to working with outsourced accounting firms is that you might not have as much control over your accounting department.
Digital communication can’t replace face-to-face collaboration, though good outsourced accountants can develop systems to mitigate the issue.
What to look for in outsourced accounting
Appropriate pricing is a critical factor when you’re shopping for an outsourced accounting service, but it shouldn’t be the only one you consider. Here are some other characteristics to look for in managed services:
- Positive reputation: Look for a provider who consistently receives positive feedback online from its clients. A business’s reviews can tell you a lot about their typical customer’s experience. Just be aware that people tend to leave reviews more often when they encounter issues.
- Expertise in your industry: Different industries and business types can have very different accounting needs, so look for a provider that has experience serving companies like yours. For example, Zeni’s accounting team has decades of experience working with startups.
- Technological compatibility: Your outsourced accounting service should be capable of integrating with your tech stack and skilled in using your accounting software. For example, if you use QuickBooks Online, look for an accountant who favors that software too.
In addition to considering these factors, treat your initial interactions with potential providers like an interview. Many accountants offer free initial consultations, and paying attention to how they’re handled can help you find a good fit.
When and why to outsource accounting
Accounting outsourcing often provides you with more affordable and flexible service than in-house accounting, which can make it very attractive to a startup or small business owner. However, it’s not right for everyone.
Typically, it makes the most sense to consider outsourcing when the volume or complexity of your financial tasks become unmanageable, but you don’t want to spend the capital necessary to hire full-time help.
This often happens when young companies experience rapid growth or operate in a vertical with sophisticated accounting requirements.
In those situations, outsourcing your accounting can help you get the expert help you need without breaking the budget, allowing you to focus on the core demands of your business.
If outsourced accounting solutions sound right for you, request a free consultation with one of Zeni’s expert advisors to see how we can help.
