Frequently
Asked
Questions
(FAQ)

Onboarding

I’ve signed my contract. What are the next steps?

Once you’ve signed your contract, you will receive a welcome email from Priscilla, our Client Relations & Operations Manager, highlighting the next steps. These next steps will require you to complete an onboarding form with your unique link. Please do not share this with anyone.

You will also receive a separate email with links to our ACH and Credit Card forms. Please complete all forms in a timely fashion, and provide Priscilla with the necessary information to move forward quickly. 

The faster you move, we move!

How long is onboarding?

Onboarding typically takes between 30-45 days to complete. Please take note that Day 1 of onboarding is the day that you finish providing access to accounts and completing initial onboarding tasks (see page 9 in our Onboarding Guide).

Where can I upload the requested documents? Can I see that it's uploaded?

You can upload the requested documents using the onboarding link provided in the welcome email (see page 6 of our Onboarding Guide). These files will be stored in our client-shared folder on Google Drive. Each client will have their own shared folder, which will be accessible once the initial onboarding process is complete.

I’m unable to view the shared folder. Can you help?

Yes! Please check that you are using the email that we have shared access to. If email is incorrect, please reach out to Priscilla at priscilla@finvisor.com to update/troubleshoot.

Who are the people working on my team?

Finvisor will assign a dedicated team member for each service, selected based on the expertise required to support your account. Once the initial onboarding steps are complete, you will receive an email introducing you to your team.

When will I have to make my first payment?

Payments for recurring services are due on the 5th of each month. Your bank account will be auto-drafted for these invoices. Invoices for onboarding and one-off projects are sent at the time of project completion. They will be sent with NET 15 terms and will be auto-drafted from the account on file.

Do I have to sign the ACH and credit card form?

Yes! ACH forms must be completed so automatic monthly payments can be made for recurring services. The credit card form is optional. In turn, Finvisor will utilize a company-issued payment method for Client expenses and will bill the cost back as a “Reimbursable Expense”

Why am I being billed for recurring services while onboarding isn’t complete?

You are being billed for recurring services because the start date for these services has commenced, and we are performing the in-scope tasks for you for that month. Onboarding involves completing specific projects to get you started while recurring services represent our ongoing support and tasks.

What are some other services that you all offer?

Click here to view some of the other services that we offer.

Accounting

When will I receive my monthly (or quarterly) financials?

We typically arrange a 5th/10th/15th/or 20th business day deliverable (of the month following the close month) depending on the recurring urgency for investor reporting or decision making, and the availability of complete information to our team.

Earlier dates or expedited requests can’t always be provided due to demand, but we can usually do so by request though it may come with an up charge needed for shifting our human resource to meet it.

Are my financials US GAAP?

Unless otherwise discussed, your financials will be accrual basis and in alignment with US GAAP.

Why am I being auto charged by Finvisor?

We have an agreement in place and signed from onboarding to auto charge the agreed upon services.

What is this extra charge from Finvisor?

This extra charge you’ve received could be an out of scope project (OOS).

What email should I use to send this (document) or information to the right place?

Depending on urgency, Client specific finvisor email address, Client department specific finvisor email, or your AP / Payroll / Accounting contact, etc.

“Please provide XYZ today.”

While we always strive to meet requests immediately, we cannot always meet a same day request. We strive to always respond within 24 hours, however depending on the request we usually cannot promise to be able to execute a request in less than five business days from the time we have the completed information and awareness of the request. If possible we will do so, but please note that if there are urgencies to your business we should align on the due dates in advance. (E.g. payroll requests, accounting reports or adjustment requests to get financials out to investors, etc.).

I’d like to be able to look at the financials in the accounting software myself.

We can provide user credentials and a zoom recorded walk through to help you know how to navigate to the information you need.

Billing

How do I update my payment information?

To update your payment information, please complete this updated ACH form

What date are payments pulled?
5 days after invoice date.

How do I add additional services?
Please let your team know and we will assist with adding services.

How do I remove services?
Please let your team know and we will assist with removing services.

How do I update contacts for billing?
Please email ar@finvisor.com and we will get your account updated accordingly.

R&D

What is the R&D Credit?

The R&D credit was introduced in 1981 to increase technical jobs in America by encouraging businesses to invest in research and innovation. The R&D credit may be claimed by taxpaying businesses that develop, design, or improve products, processes, formulas, or software.The R&D credit was introduced in 1981 to increase technical jobs in America by encouraging businesses to invest in research and innovation. The R&D credit may be claimed by taxpaying businesses that develop, design, or improve products, processes, formulas, or software.

What costs qualify?

US employee wages, supplies, contractors, and cloud hosting costs could potentially qualify for the R&D credit.

What is the benefit?

The primary benefit of the R&D Credit is a direct reduction in your federal and potentially state income tax liability. It’s a dollar-for-dollar credit, meaning it directly reduces the amount of taxes owed. If the credit amount exceeds your tax liability in a given year, or if you weren’t profitable enough to utilize the full credit, you can carry the remaining credit back one year and forward up to 20 years. Certain startups that do not have any tax liability may be eligible to use the credit to offset employer FICA payroll taxes.

We are a startup/small business that is not profitable yet, can we benefit from the R&D Credit?

Absolutely! Startups and small businesses can see significant advantages from the R&D Credit. Notably, there’s a provision that allows qualifying startups to offset employer FICA payroll taxes with the R&D credit, up to $500,000. To be eligible, the company must:
  • Have less than $5 million in gross receipts for the credit year;
  • Have no more than five years of gross receipts.

What industries typically qualify?

While the following highlights industries that potentially qualify for the R&D credit, it’s not an exhaustive list. Remember, the key is overcoming technical challenges in your industry.
  • Technology & Software Development
  • Industrial Manufacturing
  • Life Sciences & Pharmaceuticals
  • Financial Services
  • Food & Beverage
  • Energy Organizations
  • Architecture
  • Engineering

What activities qualify?

The IRS uses a four-prong test to determine if an activity qualifies for the R&D Credit. These prongs focus on the presence of innovation and experimentation in the process.  An activity qualifies if it meets all four criteria:

Four-Part Test for Qualifying Activities

  1. Permitted Purpose: The activity performed must relate to a new or improved product, process, software, invention, or formula (business component) in terms of:
    1. Function
    2. Performance
    3. Reliability
    4. Quality
  2. Technological in Nature: The activity must rely on principles of:
    1. Physical science
    2. Biological science
    3. Engineering
    4. Computer science
  3. Elimination of Uncertainty: The activity must be intended to discover information to eliminate technical uncertainty concerning the capability, method, or design for developing or improving a business component.
Process of Experimentation: The activity must be substantially related to identifying uncertainties in product, process, or design development, evaluating alternatives to eliminate those uncertainties, and testing or modeling to refine or

AP/AR

Payroll

Compliance

FOR ANY QUESTIONS

CONTACT US

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#3123
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  • PHONE NUMBER

(415) 416-6682

  • EMAIL ADDRESS
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