Institution

Product Introduction

1. Institution is an all-in-one finance and accounting platform designed specifically for founders and small to medium-sized businesses (SMBs) to automate bookkeeping, tax compliance, and financial reporting. It integrates with bank accounts, payment processors like Stripe, and payroll systems to maintain accurate financial records updated daily. The platform provides real-time dashboards for tracking key metrics such as burn rate, runway, and monthly recurring revenue (MRR) while handling complex tax filings and R&D credit claims.
2. The core value of Institution lies in replacing fragmented financial workflows with a unified system that reduces manual effort and ensures compliance. By automating daily reconciliation, tax filings, and financial reporting, it allows founders to focus on business growth rather than administrative tasks. The platform combines enterprise-grade accounting expertise with modern automation tools to deliver precision and scalability for high-growth companies.

Main Features

1. Automated Bookkeeping: Institution syncs with bank accounts, Stripe, and payroll systems to categorize transactions, reconcile accounts, and close books monthly without manual intervention. It ensures GAAP-compliant financial records by automating accruals, deferrals, and depreciation tracking. Users receive daily updates and audit-ready financial statements, eliminating spreadsheet-based workflows.
2. Real-Time Financial Dashboards: The platform provides customizable dashboards that display burn rate, cash runway, MRR, and COGS metrics updated in real time. Founders can model 12-month financial scenarios with adjustable variables like revenue growth (e.g., 5% monthly) and expense reductions (e.g., 2% monthly burn reduction). These tools enable data-driven decisions for fundraising, hiring, and budget allocation.
3. End-to-End Tax Compliance: Institution handles federal, state, and local tax filings, including Form 1120 for C-Corps, 1065 for partnerships, and 1099 submissions for contractors. The platform proactively identifies R&D tax credit opportunities, calculates eligible expenses (e.g., engineering payroll costs), and files Form 6765 with the IRS. It also manages sales tax nexus compliance and multi-entity consolidations to prevent penalties.

Problems Solved

1. Manual Financial Management: Founders often waste time reconciling accounts, chasing receipts, and preparing board reports manually. Institution automates these tasks, reducing errors and freeing up 70,000+ hours annually for clients. For example, it auto-categorizes Stripe payouts and Amex transactions while generating IRS-ready documents.
2. Target User Group: The platform serves startups, agencies, e-commerce brands, and multi-entity businesses requiring scalable financial operations. Startups benefit from runway tracking and cap table management, while e-commerce brands gain unified COGS and inventory insights across platforms like Shopify and Amazon.
3. Typical Use Cases: A pre-revenue startup uses Institution to claim $250,000 in annual R&D payroll tax credits without profitability. An agency automates client-specific profitability reports and project-based accounting. A multi-entity healthcare practice consolidates financials across locations while ensuring MSO compliance.

Unique Advantages

1. Full-Stack Integration: Unlike traditional CPAs who focus on quarterly filings, Institution combines daily bookkeeping, tax strategy, and financial analytics in one platform. It integrates with QuickBooks Online and Xero without requiring migration, enhancing existing workflows with automation and real-time reporting.
2. Big 4 Expertise with Startup Agility: The team includes CPAs from KPMG, PwC, and Deloitte, applying enterprise tax strategies to SMBs. Clients get same-day responses to queries (e.g., R&D credit status updates) via chat, avoiding support ticket delays common at traditional firms.
3. Flat-Rate Pricing Model: Institution charges a predictable monthly fee based on business complexity and expense volume, unlike hourly billing at CPA firms. This includes unlimited access to tax experts, automated filings, and priority support—key for budgeting in cash-strapped startups.

Frequently Asked Questions (FAQ)

1. How is Institution different from a traditional CPA? Institution operates as a daily finance partner, providing real-time dashboards, automated bookkeeping, and on-demand chat support, whereas traditional CPAs typically engage only during tax season. The platform’s flat-rate subscription includes proactive tax planning and filings, unlike hourly CPA models focused on retrospective compliance.
2. Are tax filings included in your bookkeeping services? Yes, all federal, state, and local tax filings—including Form 1120, 1099s, and sales tax—are included in full-stack plans. Institution aligns bookkeeping with tax strategy to maximize deductions (e.g., R&D credits) and ensure filings reflect real-time financial data.
3. How does your pricing work? Pricing is a flat monthly fee determined by monthly expenses and operational complexity (e.g., multi-entity structures). This covers unlimited support, automated reconciliations, and tax filings, eliminating hourly billing surprises. Clients receive a custom quote after a review of their financial stack.