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Bookkeeping and Accounting for Startups

The Guberman Group Seed program for startups in Israel was designed and tailored for entrepreneurs and start-ups who will be selected to participate in the program to suit their exact needs. The goal of the program is to provide a solution to the current standard and prudent financial conduct and to build a suitable infrastructure for future growth.

Guberman Seed Program Benefits

As part of the program, the selected customers will receive all the benefits listed below for a period not exceeding 12 months:

  • During the program period, the client will receive a 30% discount for bookkeeping and payroll services.
  • Once a month during the program period, the client will be given one hour of consulting free of charge and payment deferral for 50% of the amount for consulting services to be paid by the end of the program period.
  • Connections and introductions to relevant industry players: investors, service providers, banks, etc.

Who is Eligible for the Seed Program?

The program addresses companies that are selected by the Group's partners and meet the following criteria:

  • A company that has raised a cumulative amount of less than in 250,000 U.S. dollars.
  • A company that employs up to 4 employees.
  • A company that is in a pre-sales period.

Advantages of the Seed Program

The program has been designed to provide a wide range of advantages to the Guberman Group's customers, such as:

  • Low price: the program offers a high cost-benefit ratio.
  • Adaptation: the plan is suited to the specific needs of a start-up company in its initial stages: pre-seed initiatives and seed stage start-ups.
  • Networking: the company can use the Group's network of connections, as well as the knowledge and experience accumulated over the years.
  • Flexibility: the plan enables the company to consume services according to its needs and size in the present, and to increase the volume during the company's growth.
  • Attention: the company is treated closely and personally by the team, who has been specially trained for the program.

What are the Requirements for a Young Start-up Starting from Day One?

  • Opening a company: after registering the company with the Registrar of Companies (by the accompanying attorney), opening files in the tax institutions: opening an income tax file, opening a VAT file, and opening a file in the National Insurance Institute.
  • Dual currency and bilingual accounting: updated monthly.
  • Monthly reports to tax institutions.
  • Accurate and meticulous salary accounting and proper handling of social benefits.
  • Preparation of the annual budget and a comparison of actual vs budget.
  • Immediate readiness for due diligence.
  • Annual audit report which we recommend to be done by an accounting firm specializing in startups and high-tech companies. 
  • Annual tax report based on the audited accounting report.

What are the Requirements for a Start-up after Raising Substantial Capital?

  • Monthly or quarterly reports to investors and the board of directors.
  • Bilingual reports: in English for investors and partners, and in Hebrew for the tax authorities.
  • Proper planning and proper investment of funds raised.
  • Proper administration and full transparency (SOX).
  • Advanced Virtual accounting and financial management (CFO) for start-ups, if necessary.

As a complementary service to the Seed Program, the Group offers Administration services which in recent years have become a central tool for streamlining processes and providing complementary services on all financial matters. The service is mainly customized for companies that do not require a full-time administration department, but still need assistance on various administrative issues.