Accounting Scope Of Service: Graphite Accounting

Graphite Accounting provides the operational stability and dedicated support growing companies need to maintain a strong financial foundation. Our team takes clear ownership of the accounting function, creating a consistent operating rhythm and reliable financial reporting as the business grows.

What’s Included

We manage the core accounting work required to keep financial records accurate, current, and dependable. Here’s what clients can expect when engaging Graphite Accounting:

• Continuous General Ledger Management
  Graphite manages the backbone of the company’s financial data through ongoing general ledger maintenance and regular balance sheet reconciliations designed to maintain strong financial hygiene.
• A Predictable Month-End Rhythm
  Graphite follows a documented, repeatable monthly close process. Our standard target is to complete the close by the 15th business day of the following month, assuming required information, access, and approvals are provided on time.
• Quality Control
  Every close follows a structured checklist, with work reviewed for completeness before delivery. This process helps maintain consistency and reduce the risk of unresolved accounting issues carrying forward.
• Dedicated Expertise
  Clients are supported by an assigned accounting team led by a primary point of contact, typically at the Accounting Manager level or above.

Optional Support

Additional accounting needs outside the core accounting service can be scoped separately. Depending on the client’s needs, Graphite can support:

• Accounts Payable (AP)
• Accounts Receivable (AR)
• Inventory accounting
• Cost accounting
• Financial statement note disclosures required for audits, reviews, or similar needs
• Stock-based compensation expense accounting under ASC 718
• Audit readiness and audit support
• 409A support

Setting the Stage: Onboarding and Stabilization

Every accounting engagement begins with a dedicated onboarding and stabilization phase, typically lasting 30–45 days depending on the client’s existing accounting environment, complexity, and readiness.

Graphite scopes onboarding and stabilization separately from ongoing accounting support because the work required to prepare each company for a consistent monthly close varies.

During this phase, we:

• Assess and Stabilize
  Graphite reviews the chart of accounts, historical accounting records, reconciliations, and other key areas relevant to the agreed scope. Any required cleanup or remediation is identified and addressed based on the engagement.
• Integrate and Document
  Graphite connects required systems and platforms within our supported technology environment and establishes a documented month-end close checklist, responsibilities, and communication timeline.

The goal is to establish the foundation required for a clean, consistent monthly close. For additional detail, see Accounting Onboarding: What to Expect.

Client Requirements for Success

A predictable close depends on timely coordination between Graphite and the client. We rely on clients to provide:

• A Dedicated Point of Contact
  A consistent day-to-day contact who can coordinate questions, approvals, and requests.
• Timely Access
  Access to required systems, documents, financial information, and approvals.
• Adequate Lead Time
  Client-provided inputs should be delivered several business days before the close target so our team has sufficient time to incorporate and review them.

With the right contacts, documentation, and approvals in place, Graphite can keep accounting workflows moving on schedule and deliver reliable financial information leadership can use to operate the business.

Delivery Rhythm and Team Structure

Our delivery model is designed to create consistency, visibility, and clear ownership across the accounting function.

• Dedicated Team
  Clients are supported by an assigned accounting team led by a primary point of contact, typically the Service or Team Lead. Clients also work with a Customer Success Specialist throughout the Graphite relationship.
• Meeting Cadence
  During onboarding, we typically meet weekly to work through setup, questions, and open items. Once the accounting function is stabilized, most clients move to a monthly operating cadence focused on the close, financial reporting, and current priorities.
• Direct Communication
  Graphite uses email, scheduled meetings, Slack where applicable, and structured approval workflows to manage day-to-day communication and keep work moving.

Intersections With Other Services

Accounting is the connective layer across Graphite’s financial services. 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 properly.

When clients use multiple Graphite services, our teams coordinate across workstreams to maintain clear ownership and reduce gaps between functions.

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 balance sheet reconciliations, maintain financial hygiene across key accounts, and prepare the journal entries required to support a complete close. This work follows a structured, repeatable process designed to reduce rework and maintain consistency as the business grows.

Accounts Payable Process

When Accounts Payable is included in scope, Graphite can support invoice entry, vendor setup, and bill payment workflows through approved AP software within Graphite’s supported technology stack.

Invoices are entered into the AP system for client review and approval, and payments are processed once approval is received. The standard operating rhythm typically assumes one invoice entry and payment cycle per week.

The client is responsible for timely approvals, complete vendor information such as W-9s, banking details, addresses, and contact information, and any required coding guidance.

AP pricing and service levels are based on invoice volume and the scope defined in the applicable agreement. Material changes in volume or complexity may require a scope and pricing review.

Accounts Receivable Process

When Accounts Receivable is included in scope, Graphite can support invoice management and reminder-based collections activity through the client’s AR software.

The client is responsible for providing billing requirements, customer information, and contract-based invoicing rules required to generate accurate invoices.

Graphite can support invoice tracking, follow-up, and reminder workflows to help maintain consistent billing and collections processes. More involved collections activity may require additional scope or support from a third-party collections provider.

AR pricing and service levels are based on invoice volume, complexity, and submission requirements, including whether invoices must be submitted through external portals.

Changes & Growth

As companies grow, accounting volume and complexity often grow with them. Graphite can expand the scope of support as the business changes.

Common examples include:

A New Entity Is Added

A new subsidiary, LLC, or other legal entity can increase both the volume and complexity of the accounting work required.

Depending on the change, the existing scope of work may need to be expanded. The client’s Customer Success Specialist can coordinate the re-scoping and pricing process.

Revenue Recognition Changes

Revenue recognition requirements can evolve as transaction volume, pricing models, customer contracts, and business complexity increase.

If the accounting work required to support revenue recognition materially changes, Graphite will evaluate the additional requirements and coordinate any required scope or pricing updates with the client.

Audit Preparation Is Needed

Graphite’s core accounting service includes reconciliations and supporting schedules designed to maintain organized, well-supported books.

When a client requires additional audit or financial review support, Graphite can scope services based on the auditor’s requirements and the level of assistance needed. Additional work may be billed separately and documented through an additional scope of work or agreement.

Boundaries

Clear scope helps maintain the quality and predictability of Graphite’s accounting service.

Certain specialized or adjacent activities require separate scoping or are handled by other Graphite service teams. Examples include:

• International accounting for non-U.S. entities
• Specialized or highly complex accounting environments, including certain crypto or cannabis businesses
• Treasury management, cash movement, or investment sweeps
• Vendor negotiations, purchase order disputes, or chargeback management
• Tax filings and tax advisory services
• Payroll approval and payroll administration outside the contracted scope
• Budgeting, forecasting, and higher-level financial planning

Graphite can connect clients with the appropriate team when additional accounting, finance, tax, payroll, or HR support is needed.