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Accounting and 

Operations Management for
Startups
Moscow, Russia
August, 2014
Agenda
Ø 	
  Timeline	
  of	
  Startups	
  Opera2onal	
  Needs	
  
Ø 	
  Accoun2ng	
  and	
  Opera2onal	
  Processes	
  	
  
Ø 	
  Web	
  Based	
  Tools	
  for	
  Opera2ons	
  Management	
  
Ø 	
  Hiring:	
  Foreign	
  Contractors,	
  US	
  Contractors,	
  Employees	
  
Ø 	
  Startup	
  and	
  Organiza2onal	
  Expenses	
  
Ø 	
  Research	
  and	
  Experimental	
  Costs	
  
Ø 	
  Taxa2on	
  requirements	
  of	
  Businesses	
  
2	
  
Agenda
Timeline of Startups Operational Needs
3	
  
Timeline of Startups Operational Needs
Accounting and Operational Processes
4	
  
Accounting and Operational Processes
Web Based Tools for 

Operations Management
•  Bookkeeping	
  /	
  Accoun.ng	
  	
  
•  Small	
  Business/Startup	
  (QuickBooks	
  Online,	
  XERO,	
  Outright)	
  	
  
•  Large	
  Business/GAAP	
  compliance	
  (NetSuite,	
  Intacct)	
  
•  Payroll	
  (Intuit	
  Payroll,	
  Zen	
  Payroll,	
  ADP)	
  
•  Accounts	
  Receivables	
  &	
  Accounts	
  Payable	
  (Bill.com)	
  	
  
•  Expense	
  tracking	
  (Expensify,	
  Tallie,	
  Concur)	
  
•  Billing	
  &	
  Invoicing	
  (FreshBooks,	
  SimpleInvoices,	
  Paypal)	
  
•  Time	
  Tracking	
  (GetHarvest,	
  Replicon,	
  Tsheets)	
  
5	
  
Web Based Tools for 

Operations Management
Web Based Tools for Operations
Management (cont’d)
•  Payment	
  Processing	
  	
  (Paypal,	
  Square,	
  Stripe)	
  
• Mobile	
  Payments	
  (Venmo,	
  Square,	
  Paypal)	
  
• Recurring	
  Billing	
  (Recurly,	
  Paypal)	
  
•  CapTable	
  Management	
  (eSharees,	
  ShareWare,	
  CapShare)	
  
•  Tax	
  Management	
  (TaxACT)	
  
•  Electronic	
  Signature	
  (DocuSign,	
  RightSignature)	
  
•  For Tools Suggestion Research: BestVendor.com	
  
6	
  
Hiring: Foreign Contractors, US
Contractors, or Payroll
•  Hiring	
  of	
  US	
  contractors	
  (Form	
  1099)	
  
•  Form	
  W-­‐9	
  
•  Contract	
  
•  Invoices	
  
•  Hiring	
  of	
  foreign	
  contractors	
  (Do	
  not	
  pay	
  to	
  co-­‐founders	
  as	
  
contractors)	
  
•  Form	
  W8-­‐BEN	
  	
  h`p://www.irs.gov/pub/irs-­‐pdf/fw8ben.pdf	
  	
  
•  Contract	
  
•  Invoices	
  
•  US	
  employees	
  on	
  payroll	
  (Form	
  W-­‐2)	
  
•  Form	
  I-­‐9	
  
•  From	
  W-­‐4	
  
•  Form	
  M-­‐4	
  (for	
  Massachuse`s)	
  
•  Job	
  offer	
  
•  Do	
  not	
  pay	
  to	
  founders	
  as	
  contractors!	
  	
   7	
  
Hiring: Foreign Contractors, US
Contractors, or Payroll
Startup and Organizational Expenses
•  May	
  need	
  to	
  be	
  capitalized	
  un2l	
  the	
  company	
  reaches
the	
  ac've	
  trade	
  or	
  business	
  point.	
  
	
  
“Business	
  start-­‐up	
  and	
  organiza.onal	
  costs	
  are	
  generally	
  capital	
  expenditures.	
  	
  
However,	
  you	
  can	
  elect	
  to	
  deduct	
  up	
  to	
  $5,000	
  of	
  business	
  start-­‐up	
  and	
  $5,000	
  of	
  
organiza2onal	
  costs	
  paid	
  or	
  incurred	
  aher	
  October	
  22,	
  2004.	
  The	
  $5,000	
  deduc2on	
  is	
  
reduced	
  by	
  the	
  amount	
  your	
  total	
  start-­‐up	
  or	
  organiza2onal	
  costs	
  exceed	
  $50,000.	
  	
  
Any	
  remaining	
  costs	
  must	
  be	
  amor2zed”…“ratably	
  over	
  a	
  180-­‐month	
  period.	
  The	
  
amor2za2on	
  period	
  starts	
  with	
  the	
  month	
  you	
  begin	
  opera2ng	
  your	
  ac2ve	
  trade	
  or	
  
business.”	
  	
  
	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  (Source:	
  IRS	
  Publica2on	
  535	
  Chapter	
  7	
  and	
  8	
  h`p://www.irs.gov/publica2ons/p535/ch07.html#en_US_2013_publink1000208919)	
  	
  
8	
  
Startup and Organizational Expenses
Research and Experimental Costs
	
  Possible	
  treatments	
  include:	
  
•  Amor.za.on	
  
– in	
  equal	
  amounts	
  over	
  60	
  months	
  or	
  more,	
  with	
  
amor2za2on	
  period	
  beginning	
  the	
  month	
  you	
  first	
  
receive	
  an	
  economic	
  benefit	
  from	
  the	
  costs	
  
•  Deduc.on	
  as	
  current	
  business	
  expenses,	
  or	
  	
  
•  Write	
  off	
  over	
  a	
  10-­‐year	
  period	
  
(Source:	
  IRS	
  Publica2on	
  535	
  Chapter	
  1)	
  
9	
  
Research and Experimental Costs
Taxation Requirements of Businesses
•  Franchise	
  tax	
  in	
  DE	
  by	
  03/01.	
  
h`p://revenue.delaware.gov/services/Business_Tax/
Franchise_Tax.shtml	
  
•  Corporate	
  federal	
  tax	
  returns	
  by	
  03/15	
  for	
  C-­‐Corps	
  	
  
h`p://www.irs.gov/pub/irs-­‐pdf/f1120.pdf	
  	
  
•  Timely	
  payments	
  and	
  filings	
  of	
  payroll	
  payments	
  
(monthly,	
  quarterly,	
  annually)	
  
•  A	
  Form	
  BE-­‐605	
  is	
  required	
  from	
  every	
  U.S.	
  business	
  
enterprise	
  in	
  which	
  a	
  foreign	
  en2ty	
  has	
  a	
  direct	
  and/or	
  
indirect	
  ownership	
  interest.	
  	
  
10	
  
Taxation Requirements of Businesses
Questions?
Contact Info:
Natalia Goncharova
www.financealpha.com
natalia@financealpha.com
Skype: natasha-goncharova
11	
  
Questions?

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Бухгалтерия стартапа в США. Рекомендации и инструменты

  • 1. Accounting and 
 Operations Management for Startups Moscow, Russia August, 2014
  • 2. Agenda Ø   Timeline  of  Startups  Opera2onal  Needs   Ø   Accoun2ng  and  Opera2onal  Processes     Ø   Web  Based  Tools  for  Opera2ons  Management   Ø   Hiring:  Foreign  Contractors,  US  Contractors,  Employees   Ø   Startup  and  Organiza2onal  Expenses   Ø   Research  and  Experimental  Costs   Ø   Taxa2on  requirements  of  Businesses   2   Agenda
  • 3. Timeline of Startups Operational Needs 3   Timeline of Startups Operational Needs
  • 4. Accounting and Operational Processes 4   Accounting and Operational Processes
  • 5. Web Based Tools for 
 Operations Management •  Bookkeeping  /  Accoun.ng     •  Small  Business/Startup  (QuickBooks  Online,  XERO,  Outright)     •  Large  Business/GAAP  compliance  (NetSuite,  Intacct)   •  Payroll  (Intuit  Payroll,  Zen  Payroll,  ADP)   •  Accounts  Receivables  &  Accounts  Payable  (Bill.com)     •  Expense  tracking  (Expensify,  Tallie,  Concur)   •  Billing  &  Invoicing  (FreshBooks,  SimpleInvoices,  Paypal)   •  Time  Tracking  (GetHarvest,  Replicon,  Tsheets)   5   Web Based Tools for 
 Operations Management
  • 6. Web Based Tools for Operations Management (cont’d) •  Payment  Processing    (Paypal,  Square,  Stripe)   • Mobile  Payments  (Venmo,  Square,  Paypal)   • Recurring  Billing  (Recurly,  Paypal)   •  CapTable  Management  (eSharees,  ShareWare,  CapShare)   •  Tax  Management  (TaxACT)   •  Electronic  Signature  (DocuSign,  RightSignature)   •  For Tools Suggestion Research: BestVendor.com   6  
  • 7. Hiring: Foreign Contractors, US Contractors, or Payroll •  Hiring  of  US  contractors  (Form  1099)   •  Form  W-­‐9   •  Contract   •  Invoices   •  Hiring  of  foreign  contractors  (Do  not  pay  to  co-­‐founders  as   contractors)   •  Form  W8-­‐BEN    h`p://www.irs.gov/pub/irs-­‐pdf/fw8ben.pdf     •  Contract   •  Invoices   •  US  employees  on  payroll  (Form  W-­‐2)   •  Form  I-­‐9   •  From  W-­‐4   •  Form  M-­‐4  (for  Massachuse`s)   •  Job  offer   •  Do  not  pay  to  founders  as  contractors!     7   Hiring: Foreign Contractors, US Contractors, or Payroll
  • 8. Startup and Organizational Expenses •  May  need  to  be  capitalized  un2l  the  company  reaches the  ac've  trade  or  business  point.     “Business  start-­‐up  and  organiza.onal  costs  are  generally  capital  expenditures.     However,  you  can  elect  to  deduct  up  to  $5,000  of  business  start-­‐up  and  $5,000  of   organiza2onal  costs  paid  or  incurred  aher  October  22,  2004.  The  $5,000  deduc2on  is   reduced  by  the  amount  your  total  start-­‐up  or  organiza2onal  costs  exceed  $50,000.     Any  remaining  costs  must  be  amor2zed”…“ratably  over  a  180-­‐month  period.  The   amor2za2on  period  starts  with  the  month  you  begin  opera2ng  your  ac2ve  trade  or   business.”                            (Source:  IRS  Publica2on  535  Chapter  7  and  8  h`p://www.irs.gov/publica2ons/p535/ch07.html#en_US_2013_publink1000208919)     8   Startup and Organizational Expenses
  • 9. Research and Experimental Costs  Possible  treatments  include:   •  Amor.za.on   – in  equal  amounts  over  60  months  or  more,  with   amor2za2on  period  beginning  the  month  you  first   receive  an  economic  benefit  from  the  costs   •  Deduc.on  as  current  business  expenses,  or     •  Write  off  over  a  10-­‐year  period   (Source:  IRS  Publica2on  535  Chapter  1)   9   Research and Experimental Costs
  • 10. Taxation Requirements of Businesses •  Franchise  tax  in  DE  by  03/01.   h`p://revenue.delaware.gov/services/Business_Tax/ Franchise_Tax.shtml   •  Corporate  federal  tax  returns  by  03/15  for  C-­‐Corps     h`p://www.irs.gov/pub/irs-­‐pdf/f1120.pdf     •  Timely  payments  and  filings  of  payroll  payments   (monthly,  quarterly,  annually)   •  A  Form  BE-­‐605  is  required  from  every  U.S.  business   enterprise  in  which  a  foreign  en2ty  has  a  direct  and/or   indirect  ownership  interest.     10   Taxation Requirements of Businesses