Trifecta – Accounting, Tax, and Budgeting & Forecasting
At the beginning of this year, Digits embarked on a mission to put its automated accounting platform to the test, recruiting a team of US-based CPAs to manage the books of some of Silicon Valley's biggest startups. The results were exceptional — startups experienced faster financial closes, precise categorizations, and a deeper understanding of their finances, shortening the time to close to 5 days after the month’s end, down from 15 to 20.
🧾 Tax: Substantial Savings and Simplifying Compliance
Digits Accounting has been instrumental in maintaining meticulous financial records for hundreds of startups. Coupled with the launch of our new tax services, Digits is now a turn-key financial solution for startups with both tax and accounting needs.
With the new Tax plan, you benefit from:
Automated Tax Deadlines: Say goodbye to the stress of tax season. Our system automates reminders for crucial tax deadlines.
Federal and State Tax Returns: We handle everything ensuring complete and accurate filings.
R&D Tax Credits: Leverage this opportunity to potentially save an average of $21,000 annually, extending your runway or enabling you to make key hires sooner.
Additionally, our Vault feature adds another layer of convenience by securely storing all your essential documents. Need access to prior years' returns? They're safely archived in your Vault for easy retrieval anytime.
📊 Financial Planning & Analysis (FP&A): Strategize Your Financial Future
Digits’ robust accounting features already provide invaluable insights into a company's financial health through comprehensive cash flow statements, income statements, and balance sheets. These tools help key stakeholders understand financial outcomes, profitability, and liquidity with clarity.
With our acquisition of Basis, we're transitioning from comprehensive capital reporting to effective capital allocation. Startups on Digits can now plan ahead, gain a better sense of their “true” runway, and create budgets to stay on track. Our new FP&A services empower startups to make informed decisions that drive growth and sustainability.
With the FP&A plan, you gain:
Trusted Investor Relations: Easily set up a best-practice investor reporting template tailored for your investor updates, fostering transparency and trust.
Proactive Planning: Collaborate with our in-house CPAs to create comprehensive budgets or forecasts, ensuring you're prepared for future financial challenges and opportunities.
Budget & Forecast Analysis: Our team will diligently track your actual performance against your budgets and forecasts while utilizing the Vault for secure, organized storage. This continuous analysis helps you refine your financial strategy based on real-time data.
🚀 Powering Your Startup's Future
By integrating these new Tax and FP&A plans into our accounting platform, Digits is empowering startups to maintain impeccable financial health and plan ahead with confidence. Whether through streamlined tax solutions or strategic financial planning, startups can now fully harness Digits' potential to drive growth.
Stay ahead of the curve and let Digits manage the complexities of finance, so you can focus on what you do best: growing your business. Ready to upgrade your financial toolkit?
Visit Digits today to learn more about our new FP&A and Tax packages.