How startups might benefit from the new federal stimulus bill
Congress recently passed a coronavirus stimulus package. Here's how it can help your startup get additional capital in a time of need.
What to Know About the July 15 Tax Deadline
Taxes aren’t typically a hot topic in late June – but there’s been nothing typical about 2020, and its tax season is no exception. As you probably know, earlier this ...
How Investors Evaluate Your Business
What is your business worth to a potential investor? If it sounds like a complicated question, it is. Business valuation can vary a lot by market, vertical, business type, ...
PPP Loan Forgiveness: What We Know
Update 6/30: On June 5, the Paycheck Protection Program Flexibility Act adjusted some requirements for loan forgiveness, including timelines and the amount required to be s...
PPP Flexibility Act: New Deadlines, New Spending Rules
Last week, Congress passed the Paycheck Protection Program Flexibility Act, which was signed into law on June 5. This new legislation includes some of the most significant ...
How to Create (and Use) Your Business’s Budget
A comprehensive, well-constructed budget is essential for effectively managing your business. Putting a good budget together, however, can be easier said than done – ...
Pilot Partners with Gusto for Streamlined R&D Tax Credit Claims
Growing companies of all shapes and sizes trust Pilot to help them navigate the complex process of claiming the R&D tax credit, which can be worth up to $250,000 in pay...
Ask a VC: Fundraising in the COVID-19 Era
It’s a question on many startup founders’ minds: what does the current economic upheaval mean for companies trying to raise funds? For insight, we went straight to the sour...
Resource: Adapting Your Financial Plan to a Changed Economy
Back when most companies were planning for 2020, few people could have imagined where we’d be right now. The COVID crisis and its economic fallout is forcing businesses big...
Watch: R&D Tax Credit Essentials
For startups looking to extend their runway, the R&D tax credit can be a considerable lift. Introduced by Congress to encourage American innovation, the credit allows c...
Understanding Your Cash Flow
Running out of cash is every startup’s nightmare. The most serious scenario is obviously burning through your runway, but temporary cash crunches can happen too. Few things...
The PPP has run out of money. Now what?
As of today (4/16), the $350B fund allocated to the PPP loan initiative is officially tapped out, and the SBA is no longer accepting new applications. More funds may be add...
How to Reduce Your Startup’s Operating Expenses (And Still Get Things Done)
By now, it’s becoming clear that the economic disruption caused by COVID-19 is unlikely to vanish anytime soon. For many startups, this means contending with increased cash...
Watch: Making Sense of the CARES Act and the PPP
Since the CARES Act was passed into law March 27, there’s been a lot of confusion around how it will work in practice – particularly the Paycheck Protection Program (...
(Re-) Calculating Your Cash Burn Rate in a Downturn
So you started 2020 with everything figured out: you had a manageable cash burn rate, you had a clear amount of runway, you had a business strategy built around both. Then ...
Estimate Your PPP Loan Amount With This Calculator
Today is the first day small businesses may apply for loans under the Paycheck Protection Program (PPP). While there is still a lot we don’t know about the PPP application ...
PPP/CARES update: March 31
Treasury released a sample application for the PPP. There’s still a lot that’s unknown and honestly not that much you can do about it right now.
Fireside Chat: Financial Strategies for Startups in Times of Uncertainty
The global economy has changed dramatically in the past few weeks. For startups, this can mean that last month’s business plan no longer applies. As a founder, what do you ...
Get the Guide to Claiming the R&D Tax Credit
You may have heard that the R&D tax credit is a particularly valuable one, which can get you up to $250,000 back in payroll taxes (and if you pay income taxes, that num...
What Does the Coronavirus Mean for Your Taxes?
The coronavirus pandemic is affecting every aspect of life in the US, and taxes are no exception. The federal government, along with a number of states, has announced new d...
The Top 5 Startup Bookkeeping Mistakes
Bookkeeping is an essential part of running a business – particularly in uncertain times, when it’s more important than ever to have an accurate picture of your compa...
Getting Tax Help: How Late is Too Late?
Tax season is the same time every year, but with all the whirlwind responsibilities of managing a growing business, it can be easy to turn around and realize it’s somehow a...
Business Tax Terms: A Beginner’s Guide
We’re not going to sugarcoat this: business taxes are more complicated than personal taxes. There are significantly more types of taxes and filings to keep track of as a bu...
Getting Ready for Your Company’s First Tax Season
If you started a new company in the last twelve months, chances are you’ve had a crazy year. You’ve been hustling hard to get your business up and running, and now you’re a...
How the R&D Tax Credit Can Save your Business up to $250,000 a Year—and How to Claim It
The R&D tax credit is sizable: it’s worth up to $250,000 per year. Over time that can add up to millions of dollars in savings – which you can then reinvest in yo...
Pilot Launches Three New Products That Reach Beyond Bookkeeping and Tax
When you think of bookkeeping, the words “amazing,” “life-saving,” and “love” probably don’t come to mind. Yet that’s what our customers regularly say about Pilot. In...
Pilot’s Guide to Navigating Tax Deadlines
We’ve created this simple guide to help you navigate tax obligations during this end of year.
Automated Bookkeeping: Why You Need These Four Tools (And Not Just One Great Bookkeeping Service)
If you want a bookkeeping solution that runs itself, you can get close with a combination of software and service. In this post, we detail the exact tools and services to use.
Outsourced Bookkeeping: Everything You Need to Know to Find a Bookkeeper You Love
In this post, we cover everything you need in order to make key decisions about outsourcing your bookkeeping, from cost considerations to what services you can expect.
Bookkeeping Software for Business: How to Choose What’s Right for You
We dive into some commonly-asked questions about bookkeeping software, then list 25 popular software options along with what kind of business they’re best for.
Pilot’s Founding Story: How We Set Out to Build the Best Bookkeeping Service in the World
Pilot started with the founders clicking around in QuickBooks and time tracking everything. Now, software handles the tedious tasks so our team can create an amazing experi...
Small Business Expenses: The Most Important Deductions and How to Track Them
According to the U.S. Small Business Administration, only half of all small businesses survive for at least five years. That longevity is more encouraging than baseless sur...
Financial Management for Small Business Owners
You probably started your small business because you want to be your own boss, you are willing to take on risk, and you have the skills to succeed in a competitive market. ...
The Four Basic Financial Statements
Analysis of the four basic financial statements gives you an idea of your overall financial health, and for that reason alone it’s important to understand them. But t...
How to Set — and Achieve — Financial Management Goals
In July of 1999, Marvel Entertainment was emerging from bankruptcy, and its stock price stood at a paltry .94 cents per share. Sales were stagnating, and they were burdened...
QuickBooks vs. Xero vs. Wave: Which Bookkeeping Software Is Right for You?
Read on for an in-depth analysis of three popular bookkeeping software options — QuickBooks, Xero, and Wave — along with which platform is best for which business use cases.
Chart of Accounts Examples and Tips to Set Your Finance Team Up for Success
An organized chart of accounts (COA) is the bedrock of sound financial infrastructure. By neatly organizing your financial information, a COA gives decision makers the abil...
How to Set Up a Small Business Bookkeeping System
The IRS requires all businesses to keep basic financial records in order to accurately track gross receipts, purchases, expenses, and other transactions. The exact nature o...
How Much Do Bookkeepers Charge: A State by State Breakout
If you’re thinking about hiring a bookkeeper for your business, the first question you’re probably asking is, “Can I afford one?” Average bookkeeper salaries vary based on ...
Independent Contractor vs. Employee: A Detailed Breakdown of Costs, Facts, and Business Needs
Read on for a detailed breakdown of costs and considerations (plus a chart!) when choosing between an independent contractor or employee for the work you need done.
Announcing $40M in Series B Funding and Pilot Tax
We’re excited to announce that Pilot has raised $40 million in Series B funding, led by Index Ventures and joined by Stripe. We’re also thrilled to announce the public laun...
Double-entry vs. Single-entry Bookkeeping
When you set up a new business, one of the first things you need to decide is which bookkeeping system to use — double-entry or single-entry. For non-accountants, it can se...
E-Commerce Bookkeeping: Key Points to Consider in a Bookkeeping Solution
Platform fees. Inventory tracking. Foreign currency. Here’s what your e-commerce bookkeeping solution should be able to do (along with some tips on handling the tricky stuff).
14 of the Best Tools for Startups in 2019
Here at Pilot, we’re a group of savvy bookkeepers who work heavily with startups and small businesses. We’ve had many startups rely on us for their bookkeeping needs. Throu...
How to Choose a Bookkeeping Software
Once upon a time, bookkeepers recorded their information using pen and paper, keeping a company’s books in specially designed ledgers. Computers have long since replaced su...
How to Read a Statement of Cash Flows (Plus an Example Statement)
In this article, we break down everything you need to know to make business decisions based on your Cash Flow Statement. No accounting theory needed.
Why Cash-Basis Accounting Could End up Sinking Your Startup
When it comes to growing a startup, most entrepreneurs are laser-focused on growth, but aren’t always aware of the nitty-gritty details of business accounting methods...
Solvency vs Liquidity
Running a business requires owners to maintain a delicate balance between accruing debt and paying it down, especially for an early-stage business. Taking on debt gives bus...
Mixing Personal and Business Expenses Is More Than a Tax-Time Headache — Here’s Why (And How to Fix It)
You know you should separate business and personal expenses. But failing to do so is worth more than a tax-time headache: it could jeopardize the financial health of your b...
How to Automate Your Business’s Bank Reconciliation
Bank reconciliations can feel like a tedious way to spend your time. Matching financial transactions line by line to bank statements takes up hours every month. Plus, manua...
Burn Rate Calculator: Calculate Your Burn Rate and Startup Runway
Use this calculator to find your burn rate and remaining startup runway, then continue reading to learn how you can use those numbers to make better financial decisions.
4 Signs You Need to Step Up Your Startup’s Bookkeeping
Startup founders are focused on growth. They’re not bookkeepers, but they do what they can to keep the finances in order. The problem is, when a startup grows in size...
How to Hire Accountants
When you hire an accountant, you get a lot more than just a number-cruncher. From drawing up business plans and implementing financial systems, to handling audits and tax p...
Bench vs. Pilot: A Comprehensive Comparison of Two Bookkeeping Services for Business Owners
Bookkeeping is an integral part of running a financially healthy business. You know you can’t go without it. That said, not everyone has the time, expertise, or desire to h...
Bookkeeping vs. Accounting: What Business Owners Need to Know
Bookkeeping vs. accounting: it can be tough for people to grasp the difference. Both involve a business’s financial management, and both are necessary for a smooth ta...
Don’t Make These Three Common Cap Table Mistakes
Today’s post is brought to you by Carta + Pilot. Carta has everything you need to manage equity. Pilot has everything you need to manage your books. And we are both helping...
What Does a Bookkeeper Do? (Plus How to Find a Good One)
Keeping complete and accurate financial records isn’t the most glamorous part of building a company, but you can’t have a solid business without them. It’s about more than ...
How to Create Cash Flow Statements & Manage Your Cash Flow
Twenty-nine percent of failed startups say they folded because they ran out of cash. This makes cash flow management — or more accurately, mismanagement — the second bigges...
Why Startups Should Never Use Credit Unions (and What to Use Instead)
At Pilot, we do bookkeeping for a lot of startups. So much so, that we have a recommended financial stack for these fast growing companies. When it comes to banking institu...
Bookkeeping Services: How to Find the Right Bookkeeper for Your Business in 2019
Just like there are many kinds of businesses in need of bookkeeping, there are many kinds of bookkeeping services. In this post we’ll dive into some commonly asked qu...
How to Raise a Series A
Panelist Backgrounds Waseem Daher started in computer science at MIT. He cofounded two companies that were both acquired prior to cofounding Pilot. Justin Kan is the founde...
Sujay Jaswa on How to Grow Your Early-Stage Business
Sujay Jaswa was a principal at New Enterprise Associates before joining Dropbox. At Dropbox, Sujay created and led Dropbox’s global business and global finance organi...
How to Build and Scale Your Engineering Team
Panelist Bios Jessica McKellar is a founder and the CTO of Pilot, a bookkeeping firm powered by software. Previously, she was a founder and the VP of Engineering for a real...
Wave Capital’s Sara Adler on How to Get Your Startup Acquired
To help founders chart the right course, we talked to Sarah about her experiences with acquisitions as a VC and a corporate development officer for Airbnb, Dropbox, and Fac...
Meraki’s Hans Robertson on Building a Startup Finance Team
The relationship between early-stage founders and their finances can be fraught. As Meraki founder Hans Robertson described in our recent Q&A, “You don’t really w...