Company Research Report: Bookkeep

Company Overview

Name, Mission of the Company

Name: Bookkeep

Mission: To be the de facto revenue accounting standard for all revenue channels and to deliver out-of-the-box real-time automated accounting for the modern accounting professional.

Founding

Founded: 2018

Founders: Ruth Ku and Jason Richelson.

Key People

Jason Richelson: Co-Founder and CEO

Ron: Co-Founder and CTO

Alison Ball: VP of Marketing and Communications

Tom: Senior Director of Channel Sales

David: Director of Product

Laurie: Director of Accounting Channels

Anish: Director of Customer Care

Shivam: Director of Platform Partnerships

Ananie: Product Manager

Alta: Customer Care Specialist

Bhupendra: Senior Software Engineer

Dilip: Senior Engineer

Jamie Lynn: Junior Engineer

Headquarters

Location: Brooklyn, New York, USA

Number of Employees

No information is available.

Revenue

No information is available.

Known For

Bookkeep is recognized as a leader in automating accounting for retail, ecommerce, and restaurant sectors. The company provides a platform for automated revenue accounting across multiple sales and payment channels.

Products

Overview

Bookkeep specializes in accounting automation solutions for various sales and payment platforms. It integrates with multiple platforms such as QuickBooks, Xero, Zoho Books, and Sage Intacct to provide seamless accounting experiences.

Products Offered

1. Revenue and Payment Integration:

Seamless connection with numerous sales and payment channels to Bookkeep for automated accounting.

2. Sales Tax Automation:

Partnership with Avalara to automate tax compliance and improve accuracy while reducing costs.

3. Daily Sales Summaries:

Automated postings of accurate daily sales and payment summaries directly into accounting software.

4. Multi-Channel Selling Support:

Integration with ecommerce and POS platforms to handle multi-channel selling without manual entry.

Key Features

Daily Accrual-Based Summaries: Complete and automated sales and payment summaries posted nightly.

Revenue Recognition: Options for order date or ship date-based revenue recognition, especially for Shopify.

Sales Tax Automation: Automated state-wise sales tax filing powered by Avalara.

Multi-Currency Support: Supports multiple currencies for platforms like QuickBooks and Xero.

Bank Deposit Breakdown: Detailed deposit breakdown linked to sales days, available for Square and Shopify.

Cost of Goods Sold Reporting: Available for platforms like Shopify, Meadow, and Treez.

5-Star Support: Offers superior customer support via chat, email, and video calls.

Real-Time Revenue Tracking: Provides real-time visibility into business performance through automated journal entries.

Recent Developments

New Partnerships and Integrations

Victoria, British Columbia Office: Opened June 18, 2024, as part of Canadian expansion.

Collaboration with KORONA POS: Announced on November 28, 2023, to automate and streamline financial management in retail operations.

Zoho Books Partnership: Announced June 26, 2023, expanding integrations for accountants and small businesses.

New Product Features

Sales Tax Automation Launch: Introduced on March 1, 2023, in partnership with DAVO by Avalara for automatic sales tax handling.

Organizational Growth

Alison Ball Appointment: Named as the Vice President of Marketing and Communications on November 6, 2023.

Funding and Financial Growth

Investment of $6.6 Million in 2022: Led by Fin Capital, increasing total funding to $10 million following a $3.3 million seed round.

Innovations

New Integrations with Stripe, Sage Intacct and NetSuite: Announced January 18, 2022, to improve accounting automation for omnichannel retailers.

This report offers a comprehensive view of Bookkeep’s standing in the accounting automation industry, detailing its product offerings, recent advancements, and organizational priorities.