Overview
FSM is a strategic finance partner and outsourced accounting department professional services firm. Our comparative advantage is serving as our clients’ financial authority: ensuring the integrity of fiscal data, fulfilling back-office functions such as A/R, payroll, etc., supporting the C-Suite directly with timely counsel, and assisting with raising capital.
Finance + Accounting Department Services
FSM utilizes retainer vs. hourly pricing. This approach ensures work is performed with success in mind, and without either party compelled to manage the clock on a month-in month-out basis. In lieu of a flat retainer, FSM calculates prices based on a percentage of trailing twelve-month total revenue. This approach enables our clients to maintain fractional investment in FSM’s experience and expertise in-line with the increasing accounting / financial complexity, and associated time commitment, that accompanies every business’s growth.
During Company’s onboarding, our team works hard to get caught up with your existing processes. We’re conducting a deep dive review of the Company’s financial statements and chart of accounts to make sure we’re getting started on the right foot. Due to increased hours those first few months, our published fees are 1.5 times during each tier’s respective onboarding period.
Accounting + Finance Department Services Pricing Footnotes
- Accelerate Tier:
- Criteria – Company has less than $1.0M in ARR or has raised less than $1.0M in outside capital.
- Conversion – Company automatically converts to CFO Lite tier when it: (i) surpasses either of the aforementioned criteria, or (ii) passes the one-year anniversary mark (the “Conversation Criteria”).
- Financial Planning & Analysis – FSM will update your financial model once a quarter and in support of a fundraising round.
- Office of the CXO – Virtual meetings can be booked on an ad hoc basis with any senior executive (e.g., CFO, CRO, etc.) on a custom supplied booking link.
- Additional Benefits:
- Access to the FinStrat Network of advisors, ecosystem builders, founders and investors.
- Free cap table management with Carta or 20% off first year services with Carta.
- Free access – Companies must have raised less than $1.0M and have less than 25 stakeholders to be eligible.
- Discount – Carta’s preferred partner pricing must be facilitated via FSM and cannot be retroactively applied.
- Criteria – Company has less than $1.0M in ARR or has raised less than $1.0M in outside capital.
- Monthly Fees as a % of Trailing 12 Month Total Revenue – Pricing is tiered / cumulative. Pricing is exclusive of any 3rd party software provider fees with the exception of CashFlowTool and Visible. At each one-year anniversary, fees are subject to an increase equal to the greater of the CPI-W (Clerical Workers) for the preceding twelve (12) months or three percent (3.0%).
- Base Fee – At a minimum, FSM will invoice clients the base fee.
- Onboarding Period – FSM’s published fees are 1.5 times during each tier’s respective onboarding period.
- On-site Meetings – For any on-site meeting, clients reimburse FSM for travel expenses.
- Innovators & Investors Podcast – FSM will feature you in a dedicated podcast episode that introduces your story and venture to our network of investors, advisors, and industry leaders.
- Accounting Services – FSM utilizes 3rd party software provider QuickBooks Online (QBO).
- Financial Statements – Financial statements include income statement, balance sheet and cash flow statement.
- Client Invoicing (i.e., Accounts Receivable) – FSM prefers 3rd party software provider Stripe, however can support clients’ preferred vendor.
- Collections – At clients’ discretion, FSM will white-label collection efforts.
- Vendor Bill Pay (i.e., Accounts Payable) – FSM utilizes 3rd party software provider Bill.com.
- Payroll – FSM prefers 3rd party software provider Gusto, however can support clients’ preferred payroll vendor.
- Cash Flow Management – FSM utilizes 3rd party software provider CashFlowTool.
- Employee Expense Reimbursement – FSM prefers 3rd party software provider Expensify, however can support clients’ preferred vendor.
- Financial Planning – FSM utilizes Excel.
- Insurance Management – Whether general liability, health, workman’s comp, etc., FSM works with clients’ insurance broker and underwriter(s) to apply and maintain for coverage.
- KPI Dashboard – FSM utilizes 3rd party software provider Visible.
- Investor Report – In support of fund raising efforts, FSM’s investment analysts will prepare an investment analysis report that can be shared with potential investors.
- Incentive Plan Management – FSM utilizes 3rd party software provider Sales Cookie.
- Cap Table Management, 409A Valuations – FSM prefers 3rd party software provider Carta, however can support clients’ preferred vendor.
- Bank Relationships – FSM serves as clients’ point of contact and advocate for any credit increases or additional financing.
- Tax Returns – Available at clients’ option, services are priced as a flat fee based on clients’ tax year revenue and state filing requirements. Please contact your FSM client success manager for a quote.
- Audit and Acquisition / Merger Due Diligence / Off Boarding – FSM’s published fees are two times during each month the company is asked to support a formal 3rd party audit or acquisition, merger due diligence or implementation off boarding. 50% of these fees are collected in advance, at the completion of onboarding, and recorded as prepaid fees in the books.
