Pilot aims for accuracy and transparency in both our books and how our service works. If anything remains unclear or if you have a question not covered in this FAQ, please send us a message and we will happily get you the answers you need.
Our bookkeeping and tax plans are based on an annual subscription model with transparent pricing that scales with your expense rate and your business needs such as connected institutions, bills, and invoices. See our pricing page for more details.
Yes! Support is included in your plan. Your dedicated finance expert is happy to answer any questions you might have. We strive to respond to inquiries in a business day or less. See our pricing page for more details.
Yes, we’re happy to provide this additional support under our Extended Services.
Cash bookkeeping only tracks when money enters or leaves a bank account. Accrual bookkeeping is a more sophisticated approach that records when the money was earned or owed. Most larger companies use accrual and Pilot does accrual from day one so there’s no painful transition later.
We have nearly a thousand customers ranging in all sizes and spanning many industries. We specialize in working with high-growth technology startups, ecommerce providers, professional services, non–profits and more. Get in touch with us to see whether if Pilot is the right fit for you.
We have three requirements that allow us to deliver the most accurate books for your business.
We can support you if your company is a US entity, no matter where you are based in the world. We can also provide US entities with foreign subsidiaries with consolidated reporting. As of now, we do not support foreign entities.
Yes, we support bookkeeping for companies who’ve been awarded SBIR grants. Pilot has deep expertise in working with complex SBIR bookkeeping requirements, such as dealing with indirect costs, unallowable expenses, and more.
Yes – Pilot offers special discount pricing for pre–revenue companies. Qualified companies can receive $200 off per month for the first year. Contact us to learn more.
We understand the importance of predictability and transparency. Every month, we’ll average your prior 3 months of books to understand your current expenses, as well as how your financial institution connections, special transactions, and hours of support have changed.
For pricing purposes, we include in expenses the money your company spends each month, including payroll, cost of goods sold, and distributions.
Our goal is simple and transparent pricing. In examining different models, we found that expenses closely reflected business complexity while also having the advantage of being simple to calculate. To determine the best Pilot plan for your business’ needs, we also factor in the number of financial institutions, transactions, and hours of support.
Your subscription will continue until the end of your billing cycle. If you decide not to renew after the year is over, you can let us know in advance and we’ll stop billing you for the next cycle.
No, if your business is growing rapidly, your books are growing in complexity as well. If your expenses and other support needs change and exceeds the amount you’ve prepaid for, you’ll get billed the difference that month.
Yes, there’s an onboarding fee equal to one month of bookkeeping to help us make sure your setup process is a smooth one.
Pilot does all of its bookkeeping in QuickBooks Online because it offers a number of advantages:
Yes, we can help you transition your books over to QBO. As part of our onboarding process, we’ll make monthly journal entries in Quickbooks from your monthly account totals in Xero (for both the balance sheet and the P&L/income statement) going back to the beginning of the year.
You have a couple of options for doing your taxes when you use Pilot.
The first option is to use Pilot Tax. Please note that tax preparation is not included in your Pilot Bookkeeping subscription – you must purchase Pilot Tax for those services.
The second option is to use a firm of your choice and have Pilot hand off your prepared books to them. This handoff is included in your Pilot Bookkeeping subscription at no additional cost.
Pilot Tax includes federal, state, and city level income tax preparation as well as various informational reporting compliance (Form 1099-MISC, W8-BEN) and unlimited email support. Please see the full scope of services here.
Yes, we’ll generally want to take a look at the year’s books to make sure they meet our standards, but many of Pilot Tax customers started Pilot halfway through the year.
At this time, Pilot does not file personal income taxes.
If you use Pilot Tax, we will ask you for a list of vendors who require 1099s, follow up with those vendors, and file the forms for you. If you are only using Pilot Bookkeeping, we are not able to file 1099 forms for you.
If your business has less than $5 million in annual revenue, and it's been less than five (5) years since your first gross receipts/sales, you can frequently reduce your Social Security Payroll tax liability under the PATH Act R&D credit. If you do not qualify under the PATH Act R&D Credit, you can take regular R&D Credit against income taxes (rather than against payroll taxes).
Qualifying R&D expenses and/or activities are those which pass this four-part test:
Unlimited, if applying the R&D credit against income taxes. These credits can range between 5% and 15% of qualifying R&D costs. If taking the PATH Act R&D credit, a company can receive up to $250k against payroll taxes and take the remainder against income taxes.
As an example, for an unprofitable 5-person tech startup that has less than $5M in annual revenue with roughly 80% of time being spent on qualifying R&D activities, and average salary of $100k/year, the credit might be between $20k to $60k. Pilot’s fee is a small percentage of the total qualifying R&D expense and easily pays for itself by securing the R&D Tax Credit for you.
Yes, we can help you file an amended tax return to claim the R&D credit for previously filed Income Tax returns (past 3 years), but you cannot take the PATH Act R&D credit on an amended tax return.
We help businesses with all aspects of claiming these R&D Tax Credits. Pilot will:
Yes, we will support you in case of an audit. For more details on pricing, please contact us.
Yes, we’ll calculate the R&D tax credits and provide the necessary documentation for your tax preparer to file. If you use Pilot Tax, we’ll take care of the full process and file the necessary tax paperwork on your behalf as well.
33 states currently offer an R&D credit. Generally, the states follow federal guidelines on what constitutes qualified R&D expenditures with few exceptions. Pilot will provide guidance on state level credits. For example, the CA R&D credit is non-refundable which means it cannot be taken against payroll tax. Work must be done in CA to be considered qualified and CA credits can carry forward indefinitely until exhausted.
You should outsource CFO services in two situations:
We have a very competitive hourly rate and a highly efficient workflow – we’ll work with you on your budget and requirements. It’s customized to what you would want at the level of fidelity and cost that works for you. Get in touch with us to get started.
For now, we’re only offering CFO services to Pilot Bookkeeping customers.
You will only get billed for what you use that month so you can flex your use of CFO Services as and when you need. If you don’t use it, you won’t be billed for it.
As AR/AP processing go beyond the monthly bookkeeping close, they are not included in Pilot Bookkeeping unless you’re under the Plus plan. However, we provide AR/AP processing in our Extended Services at an hourly rate for Core and Select customers.
Pricing for Extended Services is $125/hour.
Signing up for Pilot is easy. We think once you experience truly stress-free financial processes, you won’t want to go back.