How Ottit Closes Your Books Each Month
The monthly close, without the chasing
Ottit works your account every day: transactions categorized as they post, every payout reconciled as it lands, books inventory, COGS, deferred revenue and accruals, ties out sales tax, and delivers a profit and loss, balance sheet and cash view by the 15th of the month, often sooner, with a dedicated accountant available on Slack throughout.
Your account is worked today, like every dayTrusted by 100+ of your favorite DTC & CPG brands
6 moments, every month, in this order
Transactions and payouts
Bank, card and processor feeds categorized; Shopify, Amazon and Stripe payouts reconciled to orders, fees, refunds and tax.
Inventory, COGS and accruals
Purchases and landed cost updated, inventory reconciled to your 3PL and FBA reports, COGS booked, deferred revenue and accrued expenses posted.
Financials
Profit and loss by channel, balance sheet and cash summary delivered, with a monthly review call on every plan.
Questions answered
A dedicated accountant in a shared Slack channel, same-day answers on one-off questions.
The bigger picture
Margins by channel, inventory turns, ad efficiency, sales tax exposure and what your tax preparer will need.
The package
A reconciled year-end package for your tax firm, with 1099 data and fixed asset schedules.
5 steps from first call to steady state
One to two weeks for a single-entity Shopify or Amazon brand with current books; longer when catch-up work comes first.
Health check
Free, 30 minutes, written summary.
Onboarding
Connections, chart of accounts, payout-level reconciliation set up. One to two weeks.
Clean start
Catch-up where needed.
Monthly close
As above, every month.
Review
A monthly review call on every plan, plus a quarterly deep dive.
QuickBooks Online
Xero
Shopify
Stripe
Bill.com
QuickBooks OnlineXeroShopifyStripeBill.comThe experience with Ottit is seamless. They know what they're doing and they do it well. Communication is frequent and clear. When issues arise (rare), they rapidly solve problems and keep me updated on the intricacies.
"Ottit has been a dream to work with! Between constant communication and clear expertise in the field, I've been able to rest easy in regards to my e-commerce bookkeeping for the first time in 7 years."
"Any client over a $1M we share with them because we know the delivery and care will be nothing short of extra ordinary. They provide a holistic product that covers all things finance and accounting that a small business needs."
Working together
How fast is onboarding?
One to two weeks for a single-entity Shopify or Amazon brand with current books; longer when catch-up work comes first.
Who do I talk to?
A dedicated accountant who runs your close every month, in a shared Slack channel, backed by a reviewer.
What do you need from me each month?
Receipts or context for anything we cannot categorize, and answers to a short list of questions before the close. Most clients spend under an hour a month.
Do you use my QuickBooks or your own?
Yours. You own the file and the data; we work inside it.
What if my books are a mess right now?
That is where most clients start. The health check tells you what a clean-up would cost, and the monthly plan starts once the balances are right.
Start with a free health check.
Thirty minutes on your books and channels, and a written read on what is wrong and what it would take to fix.
