Collaborative, Cloud-based Accountants

We love meeting new people and working with customers that have intriguing, dynamic businesses that challenge us. Please reach out to see if we’ll be a great fit for you and your business.

Basis 365® Accounting provides outsourced accounting, bookkeeping, and payroll services to eCommerce, SaaS and a wide range of Service-based businesses. Our customers range from $1mm - $20mm in revenue or roughly 5-100 employees. 

 

We've flipped the traditional accounting model on its head by partnering with our customers and focusing on real-time accounting to deliver timely results to help our customers make better business decisions. You don’t need to worry about us being unreachable during the spring or fall tax seasons or surprising you with billable hours because we are not a CPA firm and work on fixed price agreements. 

 

We deliver a 100% cloud-based accounting department and have customers across the US. Some of the benefits of partnering with us are:

  • Business Continuity - No need to worry about your accountant giving you 2 weeks to find a replacement.
  • Scalable - We’re able to ramp up or down with your business. We also deliver budgeting, forecasting and performance dashboards.
  • Responsive - 24 hours response time. You won’t have to wonder “is anyone seeing this?"

 

Here are some of the amazing applications we work with that could be a part of your new accounting solution:

  • Xero
  • FUTRLI
  • Gusto
  • Expensify
 
$1,000+
 
Undisclosed
 
10 - 49
 Founded
2012
Show all +
Irvine, CA
headquarters

Portfolio

Overview of Basis 365 (01)

Mini Page 1 of our Overview

Overview of Basis 365 (02)

Mini Page 2 of our Overview

Expensify - receipt mobile

Expensify - receipt mobile image

FUTRLI financial dashboards - kpi

FUTRLI KPI simplified image

FUTRLI financial dashboards - cash flow

FUTRLI cash flow image

Gusto Payroll - Mobile

Gusto Payroll, mobile image

Xero in the Cloud

Xero in the Cloud

Reviews

Sort by

Payroll & Accounting Services for Software Provider

“They’re a well-oiled machine.”

Quality: 
5.0
Schedule: 
5.0
Cost: 
5.0
Willing to refer: 
5.0
The Project
 
Confidential
 
July 2018 - Ongoing
Project summary: 

Basis 365 Accounting handles all of the accounting needs of a software provider using Xero technology. The team is also working on automating additional internal processes like payroll and invoicing.

The Reviewer
 
1-10 Employees
 
California
Greg Lovett
COO, Oropala Services
 
Verified
The Review
Feedback summary: 

With Basis 365 Accounting’s help, internal staff can dedicate more time to important projects and clients. Overall, the team is independent and reliable. They ask questions when necessary and report all of their work. Their effective workflow makes them a valuable partner.

BACKGROUND

Introduce your business and what you do there.

I’m the COO of Oropala Services, which is the management services company and software provider for the Gold Shovel Standard. We provide services and software solutions for clients in the construction industry.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with Basis 365 Accounting?

We have a fair amount of accounting work for our business, but not enough to demand a full-time role. We wanted to completely outsource our needs so that we could allocate more time to our core responsibilities.

SOLUTION

What was the scope of their involvement?

From day one, we moved all of our accounting processes to the Basis 365 Accounting team. Over time, we expanded their role to include payroll management and other affiliated tasks. Initially, a senior resource set up the operation and optimized it to best suit our needs, now a controller and other resources provide ongoing support.

The team uses Xero, which is an online SaaS-based accounting software, to automate our processes. With their developed knowledge and skill in this field, they’re also helping us improve additional needs. For example, we’re currently working on streamlining invoice generation.

What is the team composition?

They provide a controller, who is our main point of contact, and a supporting team of accounting resources.

How did you come to work with Basis 365 Accounting?

A colleague in the accounting space recommended them. I considered three firms in total, but ultimately chose Basis 365 Accounting for their competitive price and experience with automated accounting. I felt that they were capable of handling our needs and were very advanced in their automation approach.

What is the status of this engagement?

We started working with them in July 2018, and it’s an ongoing relationship.

RESULTS & FEEDBACK

What evidence can you share that demonstrates the impact of the engagement?

Both myself and our CEO are now completely free of accounting responsibilities, which allows us to dedicate more time to important projects and clients. Aside from reporting my direct expenses for approval, I don’t have to do anything at all.

How did Basis 365 Accounting perform from a project management standpoint?

They’re a well-oiled machine. If they have a question, they’ll reach out promptly. They provide detailed reports of their work. Overall, they’ve been extremely helpful.

What did you find most impressive about them?

Transitioning the workflow to their team was seamless. The team has really honed their processes; they’re simple and straightforward. In terms of materials, pricing agreement, and questions, they’ve thought of it all.

Are there any areas they could improve?

No, I can’t think of anything specific. With that said, our specific protocol for invoicing is a bit of a challenge. We target providing our clients an invoice within an hour. That turnaround timeframe doesn’t really fit well within their team’s workflow. However, they’re working with us on automating the process so that the turnaround time would be instant.

Any advice for potential customers?

I recommend clients look to outsource as much work as possible to Basis 365 Accounting because they really know what they’re doing. With their help, I have a lot more time to focus on important matters. I encourage others to consider using their services.

5.0
Overall Score
  • 5.0 Scheduling
    ON TIME / DEADLINES
  • 5.0 Cost
    Value / within estimates
  • 5.0 Quality
    Service & deliverables
  • 5.0 NPS
    Willing to refer

Outsourced Financial Services for Robotics Company

"They are proactive and attentive to our needs as the client."

Quality: 
5.0
Schedule: 
4.5
Cost: 
5.0
Willing to refer: 
5.0
The Project
 
Confidential
 
Apr. 2018 - Ongoing
Project summary: 

Using Xero and a variety of cloud-based software, Basis 365 Accounting manages a payroll system, examines overseas and domestic spending, and monitors financial accounts.

The Reviewer
 
1-10 Employees
 
Los Angeles, California
CEO, Robotics Company
 
Verified
The Review
Feedback summary: 

Despite the infancy of the project, the Basis 365 Accounting team has proven themselves helpful, responsive, and eager to learn. Their rapid response time has resulted in efficiently catching fraudulent credit card charges, as well as informing company-wide decisions.

BACKGROUND

Introduce your business and what you do there.

I’m the CEO of a company that just launched a new type of high-powered, robotic vacuum and dust-buster.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with Basis 365 Accounting?

As a new company with limited experience, we needed to outsource our financial services.

SOLUTION

What was the scope of their involvement?

Basis 365 Accounting uses Xero as a platform, and different cloud-based software to manage our financial services. These services span from setting up and maintaining our payroll system to linking together accounts to make more efficient processes.

What is the team composition?

I began speaking with the co-founder, who then introduced me to their remote team that handles integration, bookkeeping, and accounting platform management. We had a few meetings with the entire team, but I have almost daily communication with our account manager.

How did you come to work with Basis 365 Accounting?

We were doing some online research, which included Clutch, QuickBooks, and Xero. As our research continued, we developed a list of criteria, such as location and skillset, and were impressed with Basis 365 Accounting's certificate program and their verified partnership with Xero.

What is the status of this engagement?

We began speaking together in April 2018, the project officially began in May 2018, and we are still currently working together.

RESULTS & FEEDBACK

What evidence can you share that demonstrates the impact of the engagement?

Since the project is still in its infancy, most of our criteria has been based on timeliness and receptiveness. They ask informed questions about our business, the market, and the project. Any time there has been confusion on an account, for example with an overseas transaction, it is quickly resolved with an email.

How did Basis 365 Accounting perform from a project management standpoint?

In terms of day-to-day workflow, we use similar management techniques and processes, so there were no barriers to working together in that sense. They are professional and communicative, with a 24-hour turnaround time for any questions or issues. For example, I recently had a $3,000 fraudulent charge to my credit card, and they immediately emailed me. They are proactive and attentive to our needs as the client.

What did you find most impressive about them?

One thing that stands out in working with them is their responsiveness, as it has helped the company as a whole make better—more informed—decisions. Their team is always eager to explore and understand new technology, such as apps or platforms. Their willingness to learn and responsiveness has led to several thorough conversations about the path for the project.

Are there any areas they could improve?

So far, our work has been straightforward, so I don’t have any negative feedback or constructive criticism. As our company and the project grows, I’m interested to see how Basis 365 Accounting evolves with us.

Do you have any advice for potential customers?

Have someone on your team with accounting experience that is willing and ready to learn about different apps and platforms. That helps keep the project transparent and efficient all the way through to software integration. Be proactive in learning about new software.

5.0
Overall Score The entire team has been friendly, communicative, and forthcoming; I’ve never had to chase anyone down for information.
  • 4.5 Scheduling
    ON TIME / DEADLINES
    There have been one or two missteps in scheduling over minor things.
  • 5.0 Cost
    Value / within estimates
    From early conversations, they were transparent and had an easy to understand billing system.
  • 5.0 Quality
    Service & deliverables
    Their deliverables have gone above and beyond what I asked for.
  • 5.0 NPS
    Willing to refer
    Speaking from our experience as a small business, the project has gone seamlessly and I would easily recommend them to anyone in a similar position.

Bookkeeping Services for Cosmetics Retailer

"Prices are transparent and the team has great integrity."

Quality: 
5.0
Schedule: 
5.0
Cost: 
4.0
Willing to refer: 
4.5
The Project
 
Confidential
 
Jan. 2018 - Ongoing
Project summary: 

Basis 365 Accounting provides ongoing bookkeeping services. They produce monthly financial reports and restructure software integrations to automate various processes.

The Reviewer
 
1-10 Employees
 
California
Owner, Cosmetics Retailer
 
Verified
The Review
Feedback summary: 

The integrations have streamlined operations and increased revenue. The team does accurate and timely work, which have raised internal accounting standards. Basis 365 also sets clear expectations for progress and deadlines. Although costs are higher, their quality service is consistent.

BACKGROUND

Introduce your business and what you do there.

I own an omnichannel cosmetics retail shop. We sell to the U.S., Canadian, and European markets.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with Basis 365 Accounting?

We had bad experiences with two different bookkeeping vendors. The first one was a freelancer that didn’t provide accurate accounting work. The second vendor wasn’t transparent and always three or four months behind on work; their billable hours were expensive as well. As a result, we needed a new accounting partner.

SOLUTION

What was the scope of their involvement?

Basis 365 Accounting produces financial reports and does our bookkeeping. To manage the transition, the team coordinated with our CPA and moved us from QuickBooks to Xero. They’ve also restructured the software integrations as part of our effort to switch to better performance software.

What is the team composition?

The co-founder led the onboarding processes and then handed over to an operations specialist once work started. They also assigned an account manager.

How did you come to work with Basis 365 Accounting?

We reached out because their ability to leverage software integrations matched our needs as an e-commerce retailer. The team’s willingness to find integrations for the different software we used prompted the transition.

What is the status of this engagement?

We first started working together in October 2017. Basis 365 Accounting assumed all bookkeeping responsibilities in January 2018 and the partnership is ongoing.

RESULTS & FEEDBACK

What evidence can you share that demonstrates the impact of the engagement?

They’ve streamlined operations–expenses are down and income is up. We now have full confidence in the bookkeeping’s accuracy. Prices are transparent and the team has great integrity. Basis 365 is very cautious about anything questionable that may cause an audit. Consequently, we’re holding ourselves to a higher level. We plan to partner with them for the long-term.

How did Basis 365 Accounting perform from a project management standpoint?

The team is proactive; they set deadlines for both sides and attempt to gather as much data as possible without our assistance. Occasionally, we provide information, but always have deadlines for those deliveries. The dedicated account manager provides monthly reports and is always available to answer questions. His weekly check-ins clarify our expectations for upcoming work. I also have weekly interactions and end-of-the-month checks with the operations specialist for current high-level integration. We use Redbooth to track all aspects of the engagement.

Are there any areas they could improve?

The cost is high given they’re not a CPA firm, but the service is good. The price should reflect time saved with new automated processes. For example, the A2X (Amazon with Xero) integration streamlined operations, but costs don’t reflect the impact it and other improvements have had on bookkeeping.

Do you have any advice for potential customers?

Leverage technology and software as much as possible during the engagement because easy access to data makes the partnership easier.

5.0
Overall Score
  • 5.0 Scheduling
    ON TIME / DEADLINES
  • 4.0 Cost
    Value / within estimates
    The cost often feels high.
  • 5.0 Quality
    Service & deliverables
  • 4.5 NPS
    Willing to refer

Invoicing & Payroll for HR Firm

"I don’t think of them as a separate company but as our own accounting department."

Quality: 
5.0
Schedule: 
5.0
Cost: 
5.0
Willing to refer: 
5.0
The Project
 
Confidential
 
Oct. 2017 - Ongoing
Project summary: 

Basis 365 executes tactical accounting aspects, as well as providing strategic financial guidance. They handle invoicing, payroll, bill payment, and answer employee accounting-specific questions.

The Reviewer
 
11-50 Employees
 
Seattle, Washington
Jennifer Olsen
CEO, Resourceful HR
 
Verified
The Review
Feedback summary: 

Basis’ work enables accurate financial planning and growth. By taking control of the accounting department, Basis 365 has empowered employees to focus on their specific tasks instead of using bandwidth on technical accounting functions.

BACKGROUND

Introduce your business and what you do there.

I’m the owner of Resourceful HR. We’re an outsource HR and HR staffing company headquartered in Seattle and we provide services to the Seattle and San Francisco Bay areas.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with Basis 365 Accounting?

I wanted to have one service that would act as our accounting department on an outsourced basis.

SOLUTION

What was the scope of their involvement?

They handle our invoicing, payroll, and online bill paying, answer employee questions, take care of our filings, and help me manage the finances of the business.

If clients have any questions, they contact Basis 365 directly. For example, sometimes clients will want to pay via credit card or have different invoicing processes, and they’re able to communicate those preferences to Basis 365, which has saved a lot of time.

What is the team composition?

We have two leads, a primary lead and a co-lead, who manage the different responsibilities in terms of the invoicing and payroll for outsourced HR and HR staffing components. They each take on specific responsibilities, as well as serving as backup for each other. They each have an internal team of associates that support them. I think in total, we have a team of five people, but we mostly interact with the leads.

How did you come to work with Basis 365 Accounting?

We decided to work with Basis 365 because of how they approached working with us. We had limited our pool of potential partners down to three companies, and Basis 365 was the only one that we felt took the time to get to know us as a company. Before even handing us a proposal, they wanted to make sure they were a good fit for us in terms of how we do things and the level of employee interaction we expected. They took the time to get to know us and our processes.

What is the status of this engagement?

We’ve worked with Basis since October 2017, and are still working together.

RESULTS & FEEDBACK

What evidence can you share that demonstrates the impact of the engagement?

Since outsourcing the accounting, I’ve been able to devote more of my attention to the strategic role of my job as owner of the organization, as opposed to being pulled in multiple directions toward the accounting functions. Instead of spending brainpower on the more tactical pieces, I can work with Mike (Co-founder, Basis 365 Accounting), talk about where the company is headed strategically, and plan a financial path in order to achieve those goals.

How did Basis 365 Accounting perform from a project management standpoint?

They handle both the tactical execution of the bookkeeping and payroll and the more strategic financial management really well. Mike will serve as a controller and partner with me on the finance strategy concerning how the company is doing in relation to our strategic goals. They are also able to code daily, which means that I can go into the systems and see where we are financially at any given time. Additionally, they’ve set up systems that are more efficient than what we had before.

What did you find most impressive about them?

I don’t think of them as a separate company but as our own accounting department. They’re professional, knowledgeable, and timely.

Are there any areas they could improve?

Mike has told me that since we began working together, they’ve implemented processes of their own accord to improve this, but I do wish there was more visibility during the initial onboarding process. It took about three months to get everything established because of our requirements and the fact that we were a new account. In retrospect, it would have been helpful to have weekly or bi-weekly progress updates just to know exactly what was going on.

Do you have any advice for potential customers?

Especially as a small business owner that wants to make sure everything is perfect, the best advice I can give prospective clients is to trust Basis 365. The client experience is critical, and I was nervous to give up control of that. Now I see that if I had done that earlier, everything would have gone faster.

5.0
Overall Score
  • 5.0 Scheduling
    ON TIME / DEADLINES
  • 5.0 Cost
    Value / within estimates
  • 5.0 Quality
    Service & deliverables
  • 5.0 NPS
    Willing to refer

Payroll Support & Bookkeping for Cybersecurity Company

"They're easy to work with and provide quality services."

Quality: 
5.0
Schedule: 
5.0
Cost: 
5.0
Willing to refer: 
5.0
The Project
 
Confidential
 
Dec. 2016 - Ongoing
Project summary: 

Basis 365 provides ongoing accounting services for a cybersecurity startup. They introduced effective management tools to organize monthly statements.

The Reviewer
 
1-10 Employees
 
Irvine, California
Paul Manley
CEO, Militus
 
Verified
The Review
Feedback summary: 

Basis 365 offers worry-free, professional services. They installed easy-to-use tools that streamlined internal organization. Highly responsive managers ensure consistently reliable accounting.

BACKGROUND

Introduce your business and what you do there.

I’m the CEO of Militus, a cybersecurity startup. We do deep assessments of networks to find vulnerabilities and malware, and then recommended remediation steps to improve security.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with Basis 365 Accounting?

While I initially intended to do my own bookkeeping, I quickly discovered that this distracted me from more important aspects of my business. I engaged Basis 365 and they ended up simplifying my entire accounting system.

SOLUTION

What was the scope of their involvement?

We sat down to discuss my business and they introduced me to a number of accounting tools. I was unhappy with my payroll tool, so they set me up with Gusto. They also recommended Expensify for tracking expenses and Bill.com for billing, and I said yes to all of them.

Using those tools, Basis 365 helps me manage my monthly accounting. They categorize our various credit cards, bills, and bank statements, and I approve all tasks through email.

They’re also available to answer any accounting questions, particularly those related to annual taxes.

What is the team composition?

They have people across the country, so we typically communicate via email. I have an account manager, Elecia [Lead Accountant, Basis 365], who I work with directly, though Rhett [Co-founder, Basis 365] and Michael [Co-founder, Basis 365] are also always available.

How did you come to work with Basis 365 Accounting?

They have an office down the hall, so I just got lucky. I knocked on their door, they explained their business, and I realized it was exactly what I needed.

What is the status of this engagement?

We started working together in December 2016 and our relationship is ongoing.

RESULTS & FEEDBACK

What evidence can you share that demonstrates the impact of the engagement?

We send our monthly statements to the accountants of our lead investor, which is a large, publicly-listed company. They’ve been consistently happy with Basis 365’s work.

How did Basis 365 Accounting perform from a project management standpoint?

I go over the monthly statements with Elecia and she always responds within hours. If she has questions about an expense, she sends me an email. We’ve never had any issues in that regard.

The accounting tools they put in place are also incredibly easy to use.

What did you find most impressive about them?

They’re highly responsive. They're easy to work with and provide quality services.

Are there any areas they could improve?

I can't think of anything. Any issues I've raised have been addressed immediately.

Do you have any advice for potential customers?

Use the tools they recommend. Also, be sure to communicate your finances and respond to any questions sent by your project manager. Failing to do so will make their life difficult. As long as you communicate, everything will take care of itself.

5.0
Overall Score
  • 5.0 Scheduling
    ON TIME / DEADLINES
  • 5.0 Cost
    Value / within estimates
  • 5.0 Quality
    Service & deliverables
  • 5.0 NPS
    Willing to refer

Outsourced Tax Support & Bookkeeping for Interior Design Firm

"Everything's been very seamless."

Quality: 
5.0
Schedule: 
5.0
Cost: 
5.0
Willing to refer: 
5.0
The Project
 
Confidential
 
2015 - Ongoing
Project summary: 

Basis 365 produces monthly and quarterly financial reports and handles monthly sales tax filing for a small business furnishing company.

The Reviewer
 
11-50 Employees
 
California
John Matthews
Co-founder, Interior Design Firm
 
Verified
The Review
Feedback summary: 

Always keeping their client prepared, Basis 365 continues to provide excellent service. Their communication is consistent and reliable, and they also collaborate smoothly with the client’s tax accounting firm.

BACKGROUND

Introduce your business and what you do there.

I am a co-founder of a home-staging interior design firm. We do a combination of design and rental for people looking to sell their homes, model home builders, and in some cases people who are looking for an executive or short-term rental.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with Basis 365?

Despite continued growth year over year, I was handling a lot of tasks in-house, including bookkeeping and financial reporting. I knew we needed help, but we were not in good position to hire someone internally, so I started looking for an external accounting vendor.

SOLUTION

What was the scope of their involvement?

They started with bookkeeping support, getting our financial statements current and handling all the reconciliations with bank accounts. Once we were back to square one, they started providing regular monthly and quarterly reports, which have been invaluable for the insights we glean in terms of where we are and what we need to work on. They also added the ability to handle our sales tax filings, which are required monthly in the State of Colorado, where we are based.

What is the team dynamic?

At the top level, my go-to point of contact is Mike [Co-founder, Basis 365], and he regularly checks in to see how things are going. At the beginning of the project another team member was working on onboarding and getting us up-to-date, but he has since handed the reigns to our current point person, Erin [CPA, Basis 365], whose boots-on-the-ground accounting team handles the monthly and quarterly reports.

How did you come to work with Basis 365?

I found them both through a Google search and from a recommendation from someone in my network. I reached out and from there it was a pretty straightforward decision to start working with them.

How much have you invested with them?

I prefer to keep that confidential.

What is the status of this engagement?

We've been working with Basis 365 for about 2 years and counting.

RESULTS & FEEDBACK

What evidence can you share that demonstrates the impact of the engagement?

The best indicator of success on our end is that we're always prepared. Whether for filing or just for having the necessary conversations regarding quarterly or annual filing, we are always equipped to do so in a timely manner, and we've never had to sit around and wait. Also with the Colorado monthly sales tax reporting, they always file it about a week ahead of the deadline and communicate that to me. They are also very good at communicating with our tax accounting firm, and there have never been any confusing discrepancies there.

How did Basis 365 perform from a project management standpoint?

They've been great. We've never had any challenges with timelines or deadlines; everything's been very seamless in that regard. Their communication is very refreshing in that they put things in terms that my team can easily understand, rather than in technical accounting jargon. I have access to their work documents in shared online folders, but I generally don't need to keep tabs on their specific tasks, which I appreciate.

What did you find most impressive about them?

It's nice to have a reliable and affordable resource for our bookkeeping and accounting. We feel that their level of service and attention to detail are on par with what we would get from a big accounting firm, but at a price that makes sense for a small business.

Are there any areas they could improve?

There isn't anything at this point that I would have them do differently.

5.0
Overall Score
  • 5.0 Scheduling
    ON TIME / DEADLINES
  • 5.0 Cost
    Value / within estimates
  • 5.0 Quality
    Service & deliverables
  • 5.0 NPS
    Willing to refer

Accrued Bookkeeping for Search Marketing Agency

"They’re doing everything I would imagine an outsourced bookkeeping provider could do."

Quality: 
5.0
Schedule: 
5.0
Cost: 
5.0
Willing to refer: 
5.0
The Project
 
Confidential
 
2014 - Ongoing
Project summary: 

Basic 365 Accounting provided accrued bookkeeping for a B2B search marketing agency. The more advanced work allows for situational planning by means of data visualizations to increase operations.

The Reviewer
 
11-50 Employees
 
Irvine, California
Garrett Mehrguth
CEO, Directive Consulting
 
Verified
The Review
Feedback summary: 

Their bookkeeping and accounting work has opened up additional resources for the business to grow. They’re always going the extra step to perform research and keep lines of communication open to provide the best possible service.

BACKGROUND

Introduce your business and what you do there.

I'm the CEO of Directive Consulting and manage a lot of our financials. We're a B2B search marketing agency and help other B2B enterprise companies grow their marketing qualities.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with Basis 365 Accounting.

We were looking for someone to manage our bookkeeping for us. We wanted to outsource our accounting to someone, so they could do it under an accrual basis instead of a cash basis.

SOLUTION

What was the scope of their involvement?

They manage our books and now do more advanced accounting. Now we’re able to break out service lines where we’re making more of our revenue. They’ve also become more involved with budget and cash planning.

We have someone in-house who runs admin and does accounts receivable, but we didn’t think it made sense to have them spend their time bookkeeping and reconciling the accounts. It was more affordable and made more sense to outsource it.

Transactions come in and Basis 365  assigns them to the proper accounts, and they can help me with cash based questions. They do most of the research by themselves to figure out where stuff goes and then they send me a spreadsheet at the end of the month.

The main tools they use are Xero and Fathom. Fathom helps us do situational planning and creates data visualizations allowing us to see our growth rate. If we wanted to increase our profit margin, we can see what tactics we can use to get there, maybe its increase volume or decrease cost and Fathom will increase your price to your goal. It creates scenarios which can be really strategic with our pricing and with our operations.

What is the team dynamic?

There are 3 people that I work with, but I send everything by email and one of them will respond.

How did you come to work with Basis 365 Accounting?

We shared a co-working space when we were both getting started. We were doing their marketing and decided to outsource our bookkeeping and accounting to them.

What is the status of this engagement?

We started working together in 2014, and the engagement is ongoing.

RESULTS & FEEDBACK

What evidence can you share that demonstrates the impact of the engagement?

They’ve created additional resources for us to focus on other areas of our business where we can grow.

How did Basis 365 Accounting perform from a project management standpoint?

They’re very great about communication. They’re always on time and it’s really helpful. They’re great at meeting the deadlines and making sure all the work is done. They’re doing really well.

What did you find most impressive about them?

They're always available for insight. They do a good job of answering my questions and I don't have to worry about them sending an invoice each and every time I ask them a question. I like the way they do billing and can add insight in a financially feasible way. 

Are there any areas they could improve?

Not at all. They’re doing everything I would imagine an outsourced bookkeeping provider could do.

Do you have any advice for potential customers?

Have someone who is going to be Basis 365's point of contact and help them if they ever have questions. Make sure it's someone who can quickly communicate with them to have the support they need to do their job.

5.0
Overall Score They’ve done a great of getting tasks done on time and making sure our books are always up to date.
  • 5.0 Scheduling
    ON TIME / DEADLINES
    They are really friendly and quick to answer any questions.
  • 5.0 Cost
    Value / within estimates
    They’ve done a really good job and are financially appropriate.
  • 5.0 Quality
    Service & deliverables
    They've always done a great job. I've never had any concerns with their work.
  • 5.0 NPS
    Willing to refer
    Very much so. I already have.

Xero, Gusto & Consultation Services for Digital Marketing Agency

"They’ve provided incredibly helpful people at every step of the way."

Quality: 
5.0
Schedule: 
5.0
Cost: 
5.0
Willing to refer: 
5.0
The Project
 
Confidential
 
2013 - Ongoing
Project summary: 

Basis 365 provides accounting services associated with Gusto and Xero, largely helping to create financial reports and monitor costs. The team also reconciles transactions on a day-to-day basis and provides one-off support when needed.

The Reviewer
 
11-50 Employees
 
California
Mark Thimming
CEO, Conservaco
 
Verified
The Review
Feedback summary: 

Basis 365's real-time numbers prevent errors and unknown charges, resulting in proper reports and documentation, as well as smoother processes. Their services save a growing business a substantial amount of costs, and the team is commended for their timeliness and communication.

BACKGROUND

Introduce your business and what you do there.

Conservaco has a sub-brand called Ignite Agency, among others. We focus on the digital marketing and advertising space, with a particular specialty in the area of equity and non-equity crowdfunding campaign development and management, which includes Kickstarter and Indiegogo campaigns, and multimillion-dollar fundraising for clients. We also work with clients not interested in crowdfunding, on website development, public relations, social media, graphic design, video production and many other marketing and public relations initiatives.

I am the CEO.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with Basis 365 Accounting?

In my 40 years of experience, I’ve learned that it’s essential for the management and CEO of a company to have real-time financial and reporting information, and have solid controls in place, ensuring that money and expenditures are documented and maintained properly, on a day-to-day basis. I sought Basis 365 out because they were a young, dynamic firm which offered a contemporary, real-time software solution, the Xero platform.

SOLUTION

What was the scope of their involvement?

Basis 365 brought a level of expertise and consultation which was helpful as we were developing everything from chartered accounts through to processes and integrations with banking, credit cards and so on. After the initial signup, we spent the early days setting up the Xero platform, working with Basis 365 in order to get a proper chart of our accounts, and importing any prior transaction data of the company. We have online access which allows me to review the status of our financial reporting and any items coming through our banking or credit cards, and confirm those transactions. I’m able to look at histories, and create all kinds of different reports, querying the system around any question I might have. Xero has been a drastic improvement over other types of accounting software out there.

More recently, in May 2017, we’ve added payroll implementation through Gusto, which is being managed and supported by Basis 365. It was another solution brought to help us manage our payroll processing.

The initial onboarding process was quick, getting us up-and-running within a week or two. We usually finalize financials by the 15th of the month and often know well in advance what the likely final numbers will be. This works for us because we don’t need a faster closure.

What is the team dynamic?

There are at least two people overseeing the day-to-day transaction activity. Rhett [Co-founder, Basis 365 Accounting] has always made himself accessible when I needed it.

How much have you invested with them?

I prefer to keep this confidential.

What is the status of this engagement?

We started working with Basis 365 three and a half years ago. The relationship is ongoing; we’ve expanded it with other companies within our group. As our company grew, so did our relationship with them.

RESULTS & FEEDBACK

What evidence can you share that demonstrates the impact of the engagement?

Having a real-time grasp of the financial condition of the company—pending invoices and the monitoring of costs on a real-time basis—has been a tremendous help. Firstly, it cut down on potential errors, being billed for something without being aware of it, only finding out about it months later. We have real-time visualizations, so the likelihood of unknown charges occurring drops dramatically. Having proper documentation on everything helps enormously—if we have to go back any period of time and try to understand why a transaction occurred, we’re able to see what we spend the money on, and why, linking it to whatever description we applied to those charges. It’s been tremendously helpful for me to have this understanding.

Their service has certainly saved us a lot of money, given that we don’t need to have a full staff of accounting people onboard. This is an important thing for a growing company. For a company of our size, growing rapidly and with clients who may not always pay on time, having a good grasp of what our expenses, obligations and incoming funds are, is critical.

How did Basis 365 Accounting perform from a project management standpoint?

They’ve provided incredibly helpful people at every step of the way, who have been patient and informative in helping us manage our processes better. They’ve been prompt in responding to and resolving any questions I might have had. They’re outstanding in terms of timelines and communication. I can reach out to them by email or phone regarding any question. We have a good structure regarding our expectations, and they’re good at reconciling transactions on a day-to-day basis, and if they don’t understand an item, they will email me with any questions or post them in the system where I can also respond.

What did you find most impressive about them?

I’ve worked with other accounting services in the past. Basis 365 offers a combination of the Xero accounting system, the Gusto payroll system, and the actual process used by their team for making sure that we are current in our reporting and reconciliations on a day-to-day basis. It’s outstanding customer service which I’ve never seen from any other organization in the past. Basis 365 gives me confidence in an area which can be confusing and frustrating at times, accounting.

Are there any areas they could improve?

I am satisfied with the services they’ve provided, and, if there is any feedback, we share it with them. I have no pending or deferred comments to make at this point. I would highly recommend Basis 365 to new and established companies looking for a better accounting process, along with the support provided.

5.0
Overall Score
  • 5.0 Scheduling
    ON TIME / DEADLINES
  • 5.0 Cost
    Value / within estimates
  • 5.0 Quality
    Service & deliverables
  • 5.0 NPS
    Willing to refer

Outsourced CFO & International Expansion Support for Mobile Tech Studio

"We’ve had some very bad experiences with previous CFOs … and Basis 365 completely restored my faith in humanity."

Quality: 
5.0
Schedule: 
5.0
Cost: 
5.0
Willing to refer: 
5.0
The Project
 
$50,000 to $199,999
 
Jan. 2017 - Ongoing
Project summary: 

As an outsourced partner, Basis 365 managed onboarding and international transaction processes. They provide a full suite of CFO services, including bookkeeping, invoicing, cash-flow forecasting, and metrics.

The Reviewer
 
11-50 Employees
 
Los Angeles Metro Area, California
Marc Fischer
CEO, Dogtown Media
 
Verified
The Review
Feedback summary: 

Solutions they implemented cut AR and AP processing time in half, speeding up cash flow. They secured key services and simplified tax strategy. While some internal CFO services are lacking, their agile methodology, proactive and clear communication, and tech-savvy make them an ideal partner.

BACKGROUND

Introduce your business and what you do there.

I am the founder and CEO of Dogtown Media. We’re a mobile technology studio; we take ideas and turn them into mobile apps.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with Basis 365 Accounting?

We needed a CFO, but we didn’t need them to be full-time, and we didn't have the budget for a full-time salary.

SOLUTION

What was the scope of their involvement?

They are actively providing us a full suite of outsourced CFO services, such as bookkeeping, invoicing, cash-flow forecasting and tracking of key metrics. They help us make informed business decisions.

We have scaled quite a bit, and they've been with us every step of the way. They’ve adapted to changing circumstances as we’ve opened up an office abroad and are internationalizing our position in the marketplace. As far as accounting services, that expansion entails coordinating with our local team members and setting up operational processes to minimize transactional costs and risk.

We've had an onboarding expert set up all of our systems and transfer the data from our earlier CFO to their program.

What is the team dynamic?

We have a personalized liaison as our main point of contact. There's also an onboarding manager. For more complex processes and questions, the 2 founders come in. They also help a lot with referrals to strategic partners.

How did you come to work with Basis 365 Accounting?

We did a deep dive and interviewed 9 other vendors before deciding on Basis 365.

They understood our business model. They'd worked in technology themselves and had credibility and experience. They were able to answer all the questions that I had, and they showed me that they were able to perform at a high caliber with a competitive pricing model.

How much have you invested with them?

I pay them $48,000 a year plus a few extra fees for consulting services, so it rounds out at around $50,000.

What is the status of this engagement?

We've been working with them since January 2017.

RESULTS & FEEDBACK

What evidence can you share that demonstrates the impact of the engagement?

Revenue is definitely up. While Basis 365 isn’t solely responsible for that, the processes, invoicing, communication, and feedback mechanisms they implemented have lowered the time that it takes to get money in the door. Our accounts payable and accounts receivable processes are much smoother and work twice as fast.

Our tax strategy has been much smoother than with our former CFO. We do a lot of financial planning and forecasting, and they've really been pivotal in helping us secure qualified partners for 401(k) and tax return services.

How did Basis 365 Accounting perform from a project management standpoint?

It's been great. They are fantastic. They're very responsive and communicative. They came in at a tumultuous time for us and have implemented new processes as we’ve grown.

We have several communication channels, touch point calls twice a week, a Slack channel that is running with 2-way and 3-way communication, and email.

Their answers to questions, reminders, and everything else are on point. They answer questions clearly and quickly as they arise and provide clear feedback for us when we need to perform a task. We get frequent updates so that there are no surprises; we keep them in the loop and they give us the feedback we need to be successful. I especially love how proactive the executives are.

What did you find most impressive about them?

They are tech-savvy. Our respective cultures are well-aligned. They like to test assumptions and run like a lean startup. Most of all, they adopt frameworks and processes that are efficient, raise productivity, and don't add unnecessary layers. They minimize admin tasks through adopting smart technologies.

Are there any areas they could improve?

If we had an internal CFO, we would get more in-depth consulting and financial engineering, like how to run lines of credit, and more proactive advice. Those additional services would be helpful.

Do you have any advice for potential customers?

Have all your systems documented and ready to be ported over ahead of time so that it's a smooth transition. That helps you avoid last-minute work and long hours. Be prepared, set up communication channels, and clearly lay out what responsibilities you want them to have and what responsibilities you want to maintain in-house.

5.0
Overall Score They’re responsive and proactive about offering solutions. If they don’t know something, they’re honest about it and connect us with experts that complement their skill set.
  • 5.0 Scheduling
    ON TIME / DEADLINES
    They're on point. They have a task management scheduler and constantly remind me of things I need to do.
  • 5.0 Cost
    Value / within estimates
    They're more expensive than other solutions I've looked at, but I look at value over anything else. They definitely offer the best value for the money.
  • 5.0 Quality
    Service & deliverables
    We’ve had some very bad experiences with previous CFOs, both in-house and outsourced, and Basis 365 completely restored my faith in humanity.
  • 5.0 NPS
    Willing to refer
    I've already recommended them to 2 colleagues looking for these services.

Outsourced Accounting for Consulting Firm

"They have a very good robust process ... which gave us the confidence to outsource our accounting."

Quality: 
5.0
Schedule: 
5.0
Cost: 
5.0
Willing to refer: 
5.0
The Project
 
Confidential
 
Mar. 2017 - Ongoing
Project summary: 

Basis 365 provides bookkeeping, invoicing, AP/AR management, monthly close, and financial statement services. They also integrated solutions, including Workflowmax, Expensify, Gusto, Box, Bill.com, and Xero.

The Reviewer
 
11-50 Employees
 
San Francisco Bay Area, California
Ramy Khalil
CEO, Scimitar Inc.
 
Verified
The Review
Feedback summary: 

Their astute and seasoned team streamlined the entire accounting process. Basis 365 ultimately released the client from obligating their own time and performed exponentially well amidst migration and startup challenges. Transparency and precision continue to instill confidence in the relationship.

BACKGROUND

Introduce your business and what you do there.

We are a management consulting firm working exclusively with the life sciences sector, including biotech, pharma, diagnostics and medical devices. We provide comprehensive consulting services covering the value chain including research, clinical development, manufacturing and supply chain, and commercial. We are unique in that our staff is composed of only seasoned industry-focused
consultants.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with Basis 365 Accounting?

We were outsourcing accounting to allow our consulting staff to devote more of their valuable time to our clients instead of managing internal operations. Outsourcing to our first service provider saved a little bit of time, but not as much as we expected from the relationship. We didn’t have peace of mind, and I was doing a lot of oversight and double checking. Our original service provider was not adequately scaling to our business, so we initiated a new search and found Basis 365.

SOLUTION

What was the scope of their involvement?

We retained Basis 365 to manage our accounting operations, but to do that in a streamlined and scalable manner we needed to go through an onboarding phase to standardize our project controls and migrate to a scalable and user-friendly suite of tools that would provide financial transparency, project-level transparency, and enable compliance amongst our staff. Basis 365 migrated our cash-basis Quickbooks accounting and prepared us for more accurate accrual-based tracking in Xero, our accounting platform. They introduced us to Workflowmax, a work management system, that allows us to manage our full project lifecycle from lead generation to staff assignments to project level financial reporting to invoicing. They fully integrated the work management platform into Xero. We were previously using Gusto, Bill.com, and Expensify which they also fully integrated into our accounting operations. This minimized the organizational change management to get my team up and running in the new ecosystem.

Since the migration, Basis 365 has been running all of our accounting operations including bookkeeping, invoicing, accounts payable/receivable management, monthly close, and both monthly and annual financial statement for tax preparation. They even provide quarterly financial performance analysis and insights to help me manage the business. Over just a few months of collaboration, we’ve shifted from weekly 1-hour meetings to bi-weekly 1-hour meetings to 30-minute bi-weekly meetings at my request. My goal is 30 minutes monthly. The decreasing time on calls is indicative of my continually increasing confidence in the team, and the full transparency they have created through WorkflowMax and Xero, where I can pull reports faster than emailing a request.

Our overall project controls toolkit is much more effective than it was before. Instead of people coming to me for project financial or remaining budget updates, my account managers and project leads just log into the systems and look for themselves.

They have delivered extremely well on my very simple needs – saving me time and giving me confidence that my numbers are accurate so I can spend less time in the back office and more time with my staff and clients.

How did you come to work with Basis 365 Accounting?

I’d evaluated basis during our initial accounting outsourcing initiative. They were slightly more expensive than the provider we selected, who was using Quickbooks, a platform more familiar to me.

My price sensitivity during early years of growth came at the expense of setting up scalable and truly turnkey systems. After a couple years, when I couldn’t afford the time and financial risk of using our other provider, I reached back out to Basis 365 for a quote, and we moved very quickly from there.

How much have you invested with them?

They charge us a flat fee for services per month as per our contract. They have multiple service offerings depending on the necessary amount of coaching, feedback, and financial management support your business may need. I signed up for one of their lower support tiers because I ran the books personally for years – so I already knew our business in excruciating detail. If our needs grow, then I will reach out and ask for an increased level of support.

What is the status of this engagement?

We’ve been working with Basis 365 since March 2017. Things are going very well so I don't see an end to this engagement anytime soon.

RESULTS & FEEDBACK

What evidence can you share that demonstrates the impact of the engagement?

I was working 10–12 hours per week on accounting and financial management oversight, on top of 40-50 hours per week of client work and more time coaching my staff. 40-50 hours per month of bookkeeping, invoice generation, timecard review, report generation, and AP/AR [Accounts Payable/Accounts Receivable] tracking has dropped to a few hours a month. This gives me more time with clients, more time with my staff, and more time with my family. The time back is priceless, and the business is running more smoothly.

How did Basis 365 Accounting perform from a project management standpoint?

They did a great job, and I would rate them very highly. Every migration has hiccups, and the Basis 365 staff stepped in to cover for some of my own staff who I had assigned to lead the migration, and for a third-party system configurator of WorkflowMax. They did not let the ball drop.

What did you find most impressive about them?

All of the Basis 365 team members are extremely knowledgeable and experienced. I don’t feel like they are just logging transactions. The staff independently thinks on our company's behalf, flags issues early, and proactively offers solutions. They truly understand our business, and this is why I have confidence in them.They have a very good robust process, knowledgeable staff and they pay attention to details, which gave us the confidence to outsource our accounting. I haven’t had any worry about the health, accuracy, completeness, and timeliness of our financial data.

Are there any areas they could improve?

We had some technical issues at the beginning of the project, like how we were going to successfully connect Expensify to the Xero system. I would have liked to have known that beforehand, beforehand, but sometimes experimenting and a little trial and error are necessary, especially as these fairly nascent SaaS platforms evolve.

There’s isn’t anything from the relationship or operations that I’m concerned about. I’m very happy with their work. They offered me as much time as I wanted for weekly consultations regarding the books. I’m the person right now asking for shorter, less frequent meetings because I’m so comfortable with the way they handle things.

Do you have any advice for potential customers?

At the end of the day, quality is more important than cost because low quality in accounting will cost much more. In the initial biddings, I chose a low-cost provider and definitely ended up getting what I paid for. I had years of headaches as a result.

Don’t be pennywise pound foolish. Don’t undervalue relationships when you’re trusting somebody with your financial health. Choose a service provider that cares about the quality of their work, about you and your business. Make sure they know why you need them – for me the measure of success was time back. I believe clearly communicating that up front was critical. Choose peace of mind!

4.5
Overall Score
  • 5.0 Scheduling
    ON TIME / DEADLINES
  • 5.0 Cost
    Value / within estimates
  • 5.0 Quality
    Service & deliverables
  • 5.0 NPS
    Willing to refer
    I've actually recommended them to any small business that works with us.