Accounting FAQs
A quick guide to how Graphite Accounting works, what’s included, what clients provide, and how the monthly close process is managed.
Graphite Accounting helps keep your financial foundation clean, current, and ready to support the rest of the business.
The FAQs below cover what our accounting team typically handles, what onboarding looks like, how the monthly close works, what we need from your team, and how scope may change as your business grows.
What does Graphite Accounting handle?
Graphite Accounting owns the accounting foundation: general ledger management, reconciliations, journal entries, and the month-end close. Depending on scope, we can also support adjacent work like AP, AR, inventory accounting, cost accounting, and other add-on accounting needs.
What does onboarding look like?
Accounting begins with a dedicated onboarding and stabilization phase focused on setup, access, cleanup, and close readiness. That usually includes reviewing the chart of accounts, resolving historical issues, connecting systems, and establishing the monthly close process.
How long does onboarding usually take?
Most accounting onboardings take about 30–45 days. Timing depends on the condition of the books, the amount of cleanup needed, and how quickly systems and documentation can be shared.
When will my books be closed each month?
Our standard close target is the 15th business day of the following month. That depends on receiving the required inputs, approvals, and source documents on time.
Can you do an expedited close if needed?
Yes, we can perform expedited closes for an additional fee. We will need 30 days notice to close the books faster.
What do you need from us each month?
We need timely access to source documents, approvals, payroll data, and anything else required to complete the close. The cleaner and faster those inputs arrive, the smoother the close process runs and the fewer long-term issues pop up.
Do you work in our accounting system?
Yes. Accounting is delivered inside supported general ledger platforms and related tools. We work within the systems in scope for the engagement.
Can you handle Accounts Payable and Accounts Receivable too?
Yes, when those are included in scope. AP and AR are typically scoped separately based on workflow, volume, and complexity.
What happens if our accounting gets more complex over time?
We review scope as the business changes. If transaction volume, entities, reporting needs, or complexity increase meaningfully, we’ll revisit the engagement to keep service and pricing aligned. Graphite is built to scale with our customers’ growth.
Do you work with companies outside of the United States?
No. Because international accounting laws and tax regulations differ substantially from those in the US, Graphite focuses on US-based companies. However, Graphite can do consolidated reporting at the US parent company level as long as the client provides a clean set of numbers from its in-country accountant(s) who understands that country's rules and regulations.
How does Accounting work with your other services?
Accounting is the foundation for everything downstream. Finance depends on clean books for forecasting and planning. Tax depends on accurate accounting records for filings and advisory work. Payroll data also feeds into the accounting process.
What is out of scope?
Areas like treasury management, investment sweeps, vendor disputes, highly specialized international accounting, and certain industry-specific or highly complex accounting needs are outside standard scope unless specifically agreed.