Client: Mobile Payments Startup
Opportunity: The client has a patented technology for mobile payments that has tremendous potential for growth and usage worldwide. As the main resource working for one of the founders, I became the company’s Controller.
Processes / Work Performed:
- Created a capitalization and amortization schedule for capitalized software development and implementation / integration costs with an associated white paper to document and clarify the process for audit purposes.
- Published weekly cash position reports and cash forecasts for the board treasurer.
- Created a process for recording and recognizing revenue monthly taking currency exchange rates into account.
- Published financials (Income, BalSheet, Cash Flow) on a monthly basis to the board and executives within the first few work days each month.
- Managed Payroll and Accounts Payable, including multiple outgoing international wires monthly.
- Built and maintained a detailed and complex P&L vs. Budget file using MS Excel and Quickbooks. Maintained a P&L model in a separate format for one of the founders.
- Created and maintained the Stock Ledger and cap table, printed and maintained stock certificates through two rounds of fundraising.
- Maintained / reconciled travel reimbursement process through a 3rd party travel agent.
- Tracked / maintained corporate compliance for business licensing, franchise taxes, workers’ comp, unemployment insurance, state and federal taxes et al for this client and several other startups / clients.
- Tracked, summarized, maintained corporate contracts.
- Documented and transitioned all processes in detail to my successor.
- Prepared and filed US federal and state taxes.
Result: The company is thriving internationally, and is being considered for a major contract for a municipal transportation authority in the US.
