We’re fluent in startup finance. Now you can be too.

Learn more about common financial (and startup) terms here. To learn more about Pilot, fill out the form below.

Oops! Something went wrong while submitting the form.
Generally Accepted Accounting Principles (GAAP)

What are Generally Accepted Accounting Principles (GAAP)?

Generally accepted accounting principles (GAAP) are a set of established accounting rules and standards. Private companies aren’t required to use GAAP, but as your company grows, getting closer to GAAP compliance is important. 

Keeping your books GAAP-compliant can be difficult without an experienced accountant or accounting firm’s help, and many startups don’t follow GAAP standards at the start. But implementing some of the preferred rules early on, such as using double-entry bookkeeping and accrual-based accounting, can make the transition easier. 

Sign up for Pilot Bookkeeping

Signing up for Pilot is easy. We think once you experience truly stress-free financial processes, you won’t want to go back.

Oops! Something went wrong while submitting the form.
Close icon

Let's get in touch

Our experts can help you find the right solutions. Please provide a bit of information and we’ll be in touch.

Thank you!

We’ll be in touch via e-mail.

If you have a question, please feel free to e-mail us at info@pilot.com

Oops! Something went wrong while submitting the form.