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Island Waters Accounting LLC

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Launch... Scale... Exit... Beach...

Island Waters Accounting LLC is an AI-first fractional CFO and client advisory firm for founders in healthcare and biotech, pharma, pharmacy, and technology. We give growth-stage and venture-backed companies senior CFO judgment on a monthly retainer, without the cost of a full-time hire. Our work spans squeaky-clean bookkeeping and monthly close, accrual accounting and audit-ready schedules, forecasting and 13-week cash flow, KPI dashboards, and board- and investor-ready reporting, through fundraising, growth, and exit. Founded by Shawn Elliott, who brings 23 years across public accounting, corporate finance, and two private-equity exits, plus accrual accounting and monthly-close work for a pharmaceutical company as it scaled toward a public offering. We serve clients remotely across the U.S. from Peoria, Arizona. Island Waters does not provide audit or attest services, tax filing, legal, or investment advice.

  • Min project size
    $1,000+
  • Hourly rate
    $300+ / hr
  • Employees
    Freelancer
  • Year founded
    Founded 2026

Service Lines
Accounting
60%
Business Consulting
40%
Select Focus Area
General Accounting Focus
Management Accounting
60%
Bookkeeping
10%
Financial Accounting
10%
Forensic Accounting
10%
Payroll Processing
10%
Accounting Software Specialist
QuickBooks Accounting & Implementation
60%
Xero Accounting & Implementation
40%
Business Consulting Focus
Management Consulting
50%
Business Intelligence Consulting
10%
Business Process Management Consulting
10%
Due Diligence Consulting
10%
Operational Change Consulting
10%
Strategy Development Consulting
10%
Industries
Information technology
60%
Contracting
20%
Business services
10%
Medical
10%
Clients
Small Business (<$10M)
90%
Midmarket ($10M - $1B)
10%

Pricing Snapshot

Min. project size $1,000+
Avg. hourly rate $300+ /hr

Pricing information is based on reviews. Island Waters Accounting LLC doesn’t have any reviews yet. If you’ve worked with this company, leave a review to share your experience with buyers around the world.

Consulting Services Packages

starting at $3,500/month

Bookkeeping Packages

starting at $1,000/month

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Packages we offer:

Launch, Scale, Exit - CFO Advisory Packages

Pre seed and seed companies, profitable small businesses, or anyone who needs lighter CFO scope. Growth stage companies, post raise, milestone or runway driven. The heart of the venture backed profile. Late stage and exit bound companies, or anyone who needs full stack CFO judgment.

Small

Entry company CFO package

$3,500 /month
  • A reliable monthly close and clean books

Medium

Scaling company CFO package

$5,000 /month
  • A reliable monthly close and clean books

Large

Established company CFO Package

$7,500 /month
  • A reliable monthly close and clean books
Features

Small

$3,500

/mo

Medium

$5,000

/mo

Large

$7,500

/mo

A reliable monthly close and clean books

Small

$3,500

/mo

A reliable monthly close and clean books

Medium

$5,000

/mo

A reliable monthly close and clean books

Large

$7,500

/mo

A reliable monthly close and clean books

Our Story

Most founders are brilliant at what they do and quietly uneasy about their numbers. Island Waters gives them a senior finance partner. We are an AI-first fractional CFO firm for founders in biotech, pharma, pharmacy, and technology, delivering CFO judgment on a monthly retainer without the cost of a full-time hire: clean books, forecasting, 13-week cash flow, KPI dashboards, and board-ready reporting, through fundraising, growth, and exit. Founded by Shawn Elliott, 23 years and two PE exits.

What Sets Us Apart

Senior judgment, every time.

You get a finance leader with 23 years and two private-equity exits, not a rotating junior team. Our AI operating architecture handles the routine work, so senior judgment costs a fraction of a full-time CFO hire ($250,000 to $450,000 or more, all in), and a human signs every deliverable.

Depth in regulated, complex industries.

We specialize where the accounting is genuinely hard: biotech and pharma clinical trial accruals, specialty pharmacy reimbursement, and AI and SaaS revenue recognition. That pattern recognition catches risks in your numbers a generalist firm would miss.

A partner for the whole journey.

Most firms hand you off once the early rounds close. We stay through fundraising, growth, and the exit, from clean monthly books to board-ready reporting to the diligence room, so your finance function is never rebuilt when the stakes are highest.

Tools and Technology

Zoom
Slack
Calendly
Typeform
Microsoft Excel
Fireflies.ai
1Password
Gusto
ADP Workforce Now
Zapier
SharePoint
Google Drive

Commonly Asked Questions

A fractional CFO gives you senior financial leadership part-time, on a monthly retainer, instead of a full-time hire. At Island Waters that means clean books and a reliable monthly close, forecasting and 13-week cash flow, KPI dashboards, and board- and investor-ready reporting, plus a real partner to think through pricing, runway, hiring, and fundraising. Most founders reach out when the numbers start driving big decisions and spreadsheets no longer cut it: a raise is coming, cash is tight or lumpy, the board wants better reporting, or the books are behind and no one trusts them. If you are making seven-figure decisions on gut feel, that is the moment. We start with a short fit call, not a hard sell, so you can see whether it is the right time.

We price on the value and the risk removed, not on hours, and we work on a monthly retainer that scales with where your company is. Engagements run from bookkeeping and reporting support up to full-stack CFO work for a company heading into a raise or a sale, so the retainer grows only as your needs do. The honest anchor to keep in mind: a full-time finance chief costs $250,000 to $450,000 or more all in once you add salary, bonus, benefits, payroll taxes, and equity, plus the time and risk of hiring. A fractional CFO gives you that senior judgment for a fraction of the cost, with no ramp and no long-term commitment. You can compare the two side by side with our CFO Cost Comparison tool at islandwaters.ai/tools/cfo-cost-comparison, and our current tiers are on islandwaters.ai/pricing. The right number depends on scope, which we settle together on a quick fit call.

We go deepest in four regulated, high-growth areas: healthcare and biotech, pharma, pharmacy, and technology (AI and SaaS). These are capital-intensive, milestone-driven or runway-driven businesses led by brilliant technical founders, where the accounting is genuinely hard: clinical trial accruals, milestone revenue recognition, PBM reimbursement, usage-based and deferred revenue, and grant accounting. That is where our pattern recognition saves you from expensive surprises. We are not closed to other industries, though. If we can deliver real value and it is a good mutual fit, we are glad to talk. The specialization is where our edge is sharpest, not a locked door.

Yes. We work with founders from pre-revenue (typically just after a raise) through companies past $50 million in revenue, with no minimum revenue to start. What matters is not your stage but whether real financial decisions are riding on numbers you cannot fully trust yet. For an early-stage or pre-revenue team, that often means building a clean chart of accounts, getting the books accrual-ready, modeling runway so you know your true zero-cash date, and preparing the financial story for your next raise. As you grow, the engagement grows with you, from bookkeeping and reporting into full CFO advisory. We meet you where you are and scale the support from there.

We are a fractional CFO and advisory firm, not a CPA firm, and we are deliberate about staying in our lane. We do not perform audits or any attest work, we do not file taxes, and we do not give legal or investment advice. What we do is own your day-to-day and strategic finance: clean books, monthly close, forecasting, cash flow, KPIs, and board and investor reporting, and we get your numbers audit-ready and diligence-ready so those specialists can do their part smoothly. When you need tax filing, an audit, or counsel, we coordinate closely with your CPA, auditor, or attorney, or help you find a trusted one. Keeping those lines clear is how we protect you, and it is part of how we work: we advise, you decide.

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