Graduates of the Chobani Food Incubator, the Jar Goods team was fully aware they needed additional support with their accounting and bookkeeping. Before engaging with Accountfully, the books were managed by the two business owners, neither of whom were accountants. Their focus was on perfecting their product and scaling the business, not month-over-month reporting on the cost of goods sold or gross profit of the company. Their success was a clear indication they needed an accounting solution that would create efficiencies and have a better way of planning for future growth.
These reports, forecasts and metrics have improved Jar Goods’s fundraising efforts. The business is now able to define how much money they need to raise in order to support themselves for the next 12-18 months. They can also identify what the money will be allocated for whether it be inventory, sales and marketing, or working capital. This additional data has enabled the Jar Goods team to forecast cash flow for six to nine months and helps them plan in ways that they were previously not equipped to do.
"We knew it was time to really start developing the financial aspect of our business in a more meaningful way. Being a CPG company comes with its own set of accounting challenges. Accountfully successfully sifted through everything, providing us a clearer picture of where we stand and what we need to do to get where we want to go."
Melissa Vitelli, Founder