Accounting

Unlike in many countries, private U.S. companies are generally not required by law to publish annual accounts or have a statutory audit. However, you must maintain accurate books for tax returns, and investors often require GAAP-compliant statements.erform work physically within the U.S.

U.S. Tax law and US GAAP (accounting rules) have different objectives. Some expenses (like meals or fines) are recorded in your P&L but are not fully deductible for tax purposes. This creates "Book-Tax Differences" that we reconcile at year-end.

Cash Basis recognizes revenue and expenses when cash is received or paid (i.e., when money moves in or out of the bank). Accrual Basis recognizes revenue and expenses when they’re earned or incurred (e.g., when an invoice is issued or a bill is received), regardless of when cash changes hands. For tax years beginning in 2026, the IRS generally requires Accrual for larger corporations that exceed the $32M average annual gross receipts threshold, but many startups choose Accrual earlier.

We strongly recommend against it. U.S. banks and the IRS expect financial statements formatted to U.S. GAAP. Using U.S.-native software (like QuickBooks or NetSuite) prevents currency errors and ensures cleaner consolidation.

We recommend a monthly close. U.S. business moves fast; you need up-to-date P&L and Balance Sheets to monitor cash burn and report to U.S. investors. An annual close is rarely sufficient for a growing company.