inDinero uses more than just your bank transactions to create your financials. There are all kinds of events that happen in a business that your financial records and reports need to reflect.
This article lists the types of documentation that will help us properly account for your business’s financial activities. We’ll need many of these items to learn about your business and set up your account accurately during onboarding. The sooner we have this information, the sooner you’ll be able to see up to date financial statements and accurate data in your account.
You can compile these documents into a zip file, or upload individually to your Client Uploads folder.
Stock Purchase Agreement
We use this to get the details we need about the issuance of stocks including the issuance price, issuance date, number of shares issued, etc.
Convertible Note Agreement
Knowing about your convertible debts—when they were issued including the issuance price, issuance date, interest rate, maturity date, etc.—will help us create your various accounting schedules.
Bank Account or Monthly Bank Statements
To get started, we will need access to at least one of your bank accounts.
By giving inDinero guest access to your bank accounts, we can ensure your financials are up-to-date when we close your books at the end of each month. We’ll reconcile (and cross reference) your month-end cash balance in inDinero with your balance in your bank statements. We’ll need the monthly statement (which we can generate via guest access to your bank accounts), or you can provide statements to us.
All transactions not pulled by the system will be manually uploaded.
Additional Account Access
If a financial account doesn't have an API that works with our system, we must manually access the customer’s account. To do this, enter your username/password into a password-protected Word file, which is then given to us via Client Uploads.
For C Corps:
Articles of Incorporation
To know the incorporation date of the company, the type and number of authorized shares of the company
Capitalization Table (Cap Table)
For equity reconciliation purposes; this is used to reflect the ownership of the company in their books; this is used to record issued stocks by the company
Certificate of Organization/Formation (Articles of Organization)
To know the formation date of the company
For verification of any agreed capital contribution by the members of the organization, the guaranteed payments agreed among the members of the LLC and the profit and loss distribution scheme
If you have it:
Previous Year Tax Returns
Prior tax returns help your team prepare accurate returns in the future. For starters, we’ll reference your return to set-up beginning balances based on Schedule L (Balance Sheet) of the return, to verify the tax return method of accounting, and for preparing your future returns.
Access to Any Prior Accounting System (ex. Quickbooks File or Access)
In lieu of Tax Returns, we can use quickbooks files to set-up beginning balances. We’re looking for a detailed breakdown of the accounts in the balance sheet for categorization purposes as well.
Out-of-Pocket Business Expenses
Any work-related costs you’ve covered from your own, personal funds. (Anything you would reimburse or deduct as business spending on a tax return.)
Legal fees can be categorized very differently depending on what they are for, which can impact where these transactions go on your financial reports. Providing us with copies of your legal invoices helps us determine the best way to categorize.
Payroll Access or Payroll Reports
While we don’t complete payroll, your payroll expenses—payments to employees and the amount of taxes paid—need to match financial activity from your bank. We use access to your payroll account/payroll reports (monthly) for payroll reconciliation purposes.
Trademark Certificate or Patent
Trademarks and patents may be recognized as balance sheet items, rather than expensing them on the P&L. This can be considered an asset.
Loan and Lease Agreements
Knowing about any repayment agreements helps us determine monthly payments, security deposits (which should be separated out), and it helps us catch when your rent expenses are irregular or change.
Access to Expense or Sales Management Software
If you use tools to manage your transactional activity (like Expensify or Stitch Labs), giving us guest access to your account will save you a step as we regularly reconcile that activity on your books.