Accountant who's experienced with hosting companies.
Can someone suggest an accountant they've worked with who has experience with web hosting companies. We've worked with a few local ones and I get the feeling we're missing out on some things by not using one that already has experience in this area of business. We use quickbooks online and have no problems working with someone remotely from any location in the US.
Like benefits of leasing servers at FMV vs $1 out and how it affects your balance sheet (ie. FMV looks better but method's about to expire). When asking for advice on sources of financing for working capital traditional accountants will all same the same things: your bank, SBA, etc.. Instead of Amex Merchant Funding (which is awesome btw).
I guess I'd like a bit more from an accountant than just taking our quickbooks file, paying bills, and plugging numbers into tax forms at the end of the year. Any monkey can do that. We want someone who can give good advice but also who's familiar with the unique aspects of hosting businesses (leasing, financing, funding, etc..).
Amex Merchant Financing is alright for operating capital loans but will not fund you enough for a CAPEX loan. When talking to banks, SBA, and other traditional financing routes, they want gross revenues and cash flow. It all brings down to the chicken or the egg story (I haven't seen anyone I work with getting a good sum from banks without using their home equity). Alternative financing routes would be better but just don't put yourself in the VD category =).
Quite a number of entrepreneurs don't understand overhead as they get into the VPS or even cloud business. They all forget as they grow, PLGL Insurance premiums often are based on revenues. Also, retaining talent can be costly as turn over in the IT field is high.