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Accounting Scope Of Service: Graphite Accounting

Guaranteed Operational Stability and Predictable Monthly Financial Close

Graphite Accounting provides the operational stability and dedicated support a growing company needs to maintain a solid financial foundation. Graphite is built to deliver a predictable financial close and give clients full confidence in the books. Our mission is to stabilize that foundation by taking clear ownership of how accounting runs inside the client’s business.

What’s Included

We handle a company’s accounting from start to finish, ensuring data is accurate, delivered on time, and solid, no matter how fast the business is moving. Here’s what to can expect when engage Graphite Accounting:

  • Continuous General Ledger Management Graphite manages the backbone of a company’s financial data through ongoing maintenance and regular balance sheet reconciliations to ensure "financial hygiene."
  • A Predictable Month-End Rhythm Graphite executes a documented, repeatable close rhythm. The standard target for completion is the 15th business day of the following month.
  • Quality Control Every close is run using a structured checklist to ensure no small gaps compound over time, and all work is reviewed for completeness before delivery.
  • Dedicated Expertise Clients aren't just getting a software platform; they’re supported by an assigned accounting team led by a primary point of contact, typically at the Accounting Manager level or above.

Optional Support

If a client asks for additional accounting work outside of the core accounting service, Graphite will scope for that and provide pricing. Our team can support:

  • Accounts Payable (AP)
  • Accounts Receivable (AR)
  • Inventory Accounting
  • Cost accounting
  • Note disclosures to financials if required by audits, reviews, etc.
  • Stock option expense (ASC 718)
  • Audit readiness reporting
  • 409a support

Setting the Stage: Onboarding and Stabilization

Every great partnership starts with a strong foundation. And every accounting engagement begins with a dedicated 30–45 day onboarding phase focused on setup and readiness. Graphite scopes the onboarding and stabilization phase as a separate service from ongoing, day-to-day support because the time required to get financial records exactly where they should be is different for every client.

During this time, we:

  • Assess and Clean Up Graphite reviews the chart of accounts and resolve historical gaps that might undermine confidence in the numbers.
  • Integrate and Document Graphite connects the client’s required tools systems/platforms to our supported tech stack and establish a documented month-end close checklist and communication timeline.

The goal of onboarding isn’t just setup—it’s ensuring the books can close cleanly and consistently for the long haul. For more details about Onboarding, read Accounting Onboarding: What To Expect.

Client Requirements for Success

Accounting is a partnership. For the close to remain predictable, we rely on the following from the client:

  • Dedicated Point of Contact A consistent day-to-day person
  • Timely Access Swift approvals and access to required systems or source documents.
  • Lead Time Inputs we require from the client should be delivered several business days in advance of the close target to meet the deadline.

With key contacts in place, documentation when it’s needed, and timely approvals, Graphite can keep workflows moving as scheduled. Our team will make sure company financials can help leadership make decisions about the company’s future.

Delivery Rhythm and Team Structure

Our delivery model is built to make clients feel a sense of calm and assurance about the company’s financial reporting. Here’s what to expect:

  • Dedicated Team Businesses are supported by an assigned accounting team led by a primary point of contact, typically the Service/Team Lead. Clients also work with a Customer Success Specialist from day one all the way through the Graphite journey.
  • Meeting Cadence During onboarding, we typically meet weekly to resolve open issues. Once stabilized, most clients settle into a monthly operating cadence to review the close and associated documents.
  • Direct Communication Graphite prioritizes solutions-oriented communication through email, scheduled meetings, and structured workflows for approvals. We’ll also use email and Slack for day-to-day communications.

Intersections With Other Services

Accounting is the connective layer across Graphite’s financial services. Its quality directly affects the effectiveness, speed, and credibility of every adjacent offering. Finance relies on clean, consistent accounting data for planning, forecasting, and analysis. Tax depends on accurate books to support compliance, filings, and advisory work. Payroll feeds accounting through journals and reporting that must reconcile cleanly. When clients use multiple Graphite services, Graphite owns the coordination across teams so the client is not left managing handoffs or resolving gaps between workstreams.

Reconciliations & Journal Entries

Graphite Accounting owns the general ledger and the core accounting work required to keep financials accurate, consistent, and reliable over time. As part of the monthly close, we perform ongoing balance sheet reconciliations, maintain financial hygiene across key accounts, and prepare the journal entries needed to support a complete close. This work follows a structured, repeatable process designed to reduce rework, prevent drift, and keep the books dependable as the business grows.

Accounts Payable Process

When Accounts Payable is included in scope, Graphite supports invoice entry, vendor setup, and bill pay support through an approved AP software within Graphite’s supported tech stack. Invoices are entered into the AP system for company review and approval, and payments are remitted once approval is received. The standard operating rhythm assumes one entry and payment cycle per week. The client remains responsible for timely approvals, providing complete vendor information such as W-9s, bank details, addresses, and contact information, and communicating coding guidance for how invoices should be categorized. AP pricing and service level are based on invoice volume and may adjust upward based on the three-month rolling average.

Accounts Receivable Process

When Accounts Receivable is included in scope, Graphite supports invoice management and reminder-based collections support through the client’s AR software. The client remains responsible for providing billing requirements and contract-based invoicing rules needed to generate accurate invoices. Graphite can help manage invoice tracking, follow-up, and reminder workflows to support timely payment and reduce revenue leakage. More involved collections activity, including work beyond reminder emails, remains outside scope and may require a third-party collections partner. AR pricing and service level are based on invoice volume, complexity, and submission requirements, including whether invoices must be submitted through external portals.

Changes & Growth

Growth. It’s exactly what companies want, but with it comes complexity and often the need for more support. Graphite is here for clients as the business changes or needs expand. Here are two scenarios when customers frequently ask Graphite Accounting to take on more work.

A New Entity Added

As the business grows, clients might add a new subsidiary, LLC or another type of entity. A new addition can not only increase the volume of work for Graphite, but also the complexity. Depending on the changes, the scope of work in your contract might need to expand. Your Customer Success Specialist can help start the re-scoping and pricing process.

Revenue Recognition Changes

Revenue recognition often changes as a business grows. Increased transaction volume and more complex pricing and packaging can lead to stricter accounting standards. Growth sometimes requires more sophisticated revenue recognition, which can mean more time required to provide accurate financial reporting. The Customer Success Specialist will help with re-scoping and pricing if needed.

Audit Preparation Needed

Occasionally an accounting client asks for support with audit preparation. Graphite already prepares audit-ready reconciliations at the month-end close as part of the core service (excluding financial statements and corresponding footnotes). Graphite also provides tailored audit assistance and can potentially address more complex requirements once the specific scope is defined. Graphite will price the work, typically at an hourly rate, and prepare a separate contract for the client’s review.

Boundaries

To protect the quality and predictability of our service, Graphite maintains clear boundaries.

While Graphite coordinates closely with other functions, certain specialized areas are considered out of scope, including:

  • Specialized accounting such as international (non-domestic) entities or high-complexity industries like crypto or cannabis.
  • Treasury management, cash movement, or investment sweeps
  • Vendor negotiations, purchase order disputes, or chargeback management.
  • Adjacent services owned by other Graphite teams (or the client), such as final tax filings, payroll approval, and high-level financial forecasting (budgeting). Graphite is happy to connect clients with a Graphite team member who can discuss our other services.