Puzzle.io
Ready to turn numbers into cash? Join Puzzle.io's affiliate program and help businesses level up their accounting game. Share the secret to stress-free cash and accrual accounting and get paid for every piece you put in place!
Product Feature Introduction
Puzzle Accounting Software
A modern accounting software designed for startups and tax preparation, aiming to upgrade traditional manual accounting processes.
1. Key Features
- Automated Bookkeeping: Automatically categorizes expenses with up to 95% accuracy, saving users hours on manual bookkeeping tasks. It also has an audit log for transaction categorization. For example, the Puzzlebot can suggest categories like "Software - Operating Expense" and vendors such as "Google G Suite" for transactions.
- Financial Insights: Offers real-time cash flow insights, daily updates, and a visual dashboard. It provides variance analysis with spotlight, allowing users to define thresholds for unexpected expenses and gain in-depth financial insights quickly. Metrics such as burn rate, runway, ARR/MRR are available for better decision-making.
- Centralized Data: Integrates with popular tools like Stripe, Brex, Ramp, Rippling, and Gusto. This eliminates manual data entry and consolidates all financial data in one place. 98% of dollar volume is auto-categorized, and 90% is finalized.
- Accrual Automation: Simplifies revenue recognition, deferred revenue, and fixed assets management through accrual accounting policies. It also handles prepaid expenses and invoicing, making it easier to manage financial processes without relying on spreadsheets.
- Auto-generated Reconciliations: The Puzzlebot automatically validates accounts. For example, it can reconcile Brex Credit Card and Mercury Bank Account with a difference of $0.00, and helps review unlinked credit card payments.
- Accuracy Monitoring: Continuously monitors and reviews financial statements for common errors and anomalies, ensuring the accuracy of financial data.
2. Benefits for Different Users
For Founders
- Builds a better startup by simultaneously generating cash accounting (user-friendly) and accrual accounting (accountant-friendly) in one solution.
- Provides key financial insights, giving founders more time to grow the business and less time on financial preparation.
- Offers an intuitive onboarding process with on-demand accountants available. It also helps founders get fundraise-ready by providing real-time access to financial statements and metrics needed for due diligence.
For Accountants
- Automates 85-95% of repetitive tasks, allowing accountants to focus on high-value work such as exception handling, error checking, and month-end reviews with clients for better business insights.
- Can import historical financial statements and trial balances from QuickBooks, facilitating the transfer of clients and enabling comparative financial analysis.
3. Frequently Asked Questions
Comparison with QuickBooks:
Puzzle automates repetitive tasks, has accrual automation, revenue recognition and ARR/MRR calculations, collaboration features, a smart monthly checklist, and better integrations. It can also import data from QuickBooks, allowing users to retain historical records in QuickBooks format while using Puzzle for more advanced features.
Replacement of Bookkeepers:
Puzzle does not replace bookkeepers completely. It automates many tasks but still requires professional review of books for IRS, investors, or partners, especially as finances become more complex.
Tax-Readiness:
It provides accurate real-time data and has a network of experienced tax experts. It also reminds users of important tax deadlines for Delaware C-Corps, like Jan 31 for 1099s, March 1 for Delaware Franchise Tax, and April 15 for Federal and State Tax Filings.
Understanding the Business:
Offers multiple real-time views of the business, including cash and accrual accounting, spend and revenue analysis by different factors, and variance analysis.
Reliance on Other Systems:
Systems like Stripe, Brex, and Ramp only provide raw transaction data. Puzzle ingests this data into its general ledger to generate financial statements for tax compliance, reporting, and decision-making.
Getting Started:
Founders can choose self-service setup, which takes minutes to connect to business systems and access real-time financial reporting. They can also get help from experts in Puzzle's network if needed.
Generative Accounting and Accountants:
Generative accounting in Puzzle does not replace accountants. It automates rote tasks, allowing accountants to focus on high-value advisory work.
Additional Services:
Besides accounting, Puzzle provides variance analysis, metrics on cash runway and burn rate, expense breakdowns, and reporting for SaaS companies by customer and product line.
Impact on Revenue:
Moving from QuickBooks to Puzzle can lead to managing more clients at a higher margin, even if fees are reduced. It also delivers a better client experience with faster and more accurate books and key insights.
New Clients:
Accountants can become Certified Puzzle Advisors. If their clients are satisfied, they will be listed on Puzzle's marketplace, and Puzzle will connect them with potential clients to expand their client base.
