You Did the Hard Part. Here's What Happens Next.
Finishing your setup is a real milestone. You've handed us what we need to build your financial foundation, and now the work shifts to our team. This guide walks you through what's happening behind the scenes, what your support looks like going forward, and how to start getting comfortable with your dashboard.
1. We're Building Your Books
What's happening and why
The moment your setup is complete, our bookkeeping team gets to work. Using the bank statements and documents you provided during onboarding, we begin establishing your beginning balances — the official starting point from which all of your ongoing bookkeeping will flow.
Think of this as the foundation being poured. Everything that comes after (monthly reconciliation, financial reporting, tax prep) connects back to this baseline. Getting it right is worth the care it takes.
In most cases, this process runs smoothly in the background without much needed from you. Occasionally, our team may reach out through your dashboard to ask a clarifying question or request an additional document. When that happens, a quick response keeps things moving — so it's worth keeping an eye on your dashboard notifications during these early weeks.
2. Your Support System
What's available to you and how to use it
One of the things that makes being a Collective member different from going it alone is that you have a team behind you. What that looks like depends on your membership.
S Corp Members
Once your beginning balances are fully established and your payroll setup is complete, you'll be able to schedule time directly with a Member Success Manager. This is someone who knows your business and can walk through questions, flag opportunities, and help you stay on top of your S Corp responsibilities throughout the year. You can also reach your team anytime through the Message Center in your dashboard.
LLC Members
Your team of experts is available through the Message Center whenever you have questions — bookkeeping, tax guidance, or anything in between. We are here to support you when you need it.
3. Getting to Know Your Dashboard
Your business at a glance — any time you need it
While our team works on your historical books, there's no reason to wait before exploring your dashboard. It's designed to give you a real-time picture of your business health without requiring you to dig through spreadsheets or piece together reports yourself.
Here's what's worth exploring first:
Financial Performance Your Profit and Loss report, Balance Sheet, and transaction history are all accessible from your dashboard under the Accounting tab. Once your books are live, the activity is continually updated so you always know where your business stands.
Invoicing Tools Collective includes built-in invoicing features as part of your membership — no separate tool required. You can create customizable invoices, send them to clients, and track incoming payments directly from the dashboard.
Account Settings To view or update your business profile details, look for the account icon in the top right corner of your screen (it displays the first letter of your business name) and select Settings.
A Note on What Comes Next
Your books are being built. Your support team is ready. Your dashboard is live.
The goal from here is simple: your financial back-office runs consistently in the background so you can stay focused on the work that actually grows your business. That's what you signed up for, and that's what we're here to deliver.
To keep your financial engine running smoothly, there are a few recurring tasks our team needs from you each month:
Requirements for LLC Members
- Verify that your activity is recorded correctly within the Transactions tab under the Accounting tab.
- Provide PDF copies of bank statements via the Documents tab if your accounts are not set for automated retrieval under Settings.
Additional Requirements for S Corp Members
- Complete the standard LLC tasks mentioned above, plus…
- Run your Payroll for every pay cycle to ensure compliance and accurate compensation. If you don’t want to manually run your payroll, you can turn on Autopilot on the Payroll dashboard.
- Submit your Reimbursements under the Accounting tab.
If you have questions at any point — about your dashboard, your documents, or anything in between — send a message through the Message Center. We are here to help.
This content is for informational purposes only and does not constitute legal, financial, or tax advice. It is not intended as a substitute for guidance from a qualified and licensed adviser.