# Accounting & Finance Team

Each OCV company will engage directly with a dedicated external Accounting & Finance team. The Accounting and Finance Team invoices each company directly at pre-negotiated billing rates.

The Accounting & Finance Team helps companies manage: 

1. ​[Bank accounts](https://handbook.opencoreventures.com/company-ops/finance-ops/bank-management)
2. ​[Corporate credit card expense reconciliations](https://handbook.opencoreventures.com/company-ops/company-expenses#corporate-credit-card-usage)​
3. [Invoice processing and payments](https://handbook.opencoreventures.com/company-ops/finance-ops/payment-processing) (both customers and vendors)
4. ​[Payroll administration](https://handbook.opencoreventures.com/company-ops/company-expenses#payroll-processing)​
5. [Monthly financial statements](#block-0fdfeb7b074d80a1aca9f0d1a62adec8)
6. [Tax filing and compliance](https://handbook.opencoreventures.com/company-ops/finance-ops/taxes)
7. ​Runway modeling (generally for post-Seed companies)

CTOs and CEOs will be introduced to their Accounting & Finance team at onboarding and will have a dedicated messaging channel to communicate with this team as needs and questions arise.

## Monthly finance review meeting <a href="#block-0fdfeb7b074d80a1aca9f0d1a62adec8" id="block-0fdfeb7b074d80a1aca9f0d1a62adec8"></a>

Before CEO onboarding, OCV meets with the Accounting & Finance Team to review runway, key changes in company financials, and company updates, etc.&#x20;

Once a CEO is onboarded, the Accounting & Finance Team will schedule a dedicated monthly finance review call for the company. OCV will support transition and join as optional until Seed round closes.

## Budget for 18 months of runway <a href="#block-28bfeb7b074d80e5a7a3d7e9fca771a4" id="block-28bfeb7b074d80e5a7a3d7e9fca771a4"></a>

In general, we recommend creating a rough operating budget for \~18 months of runway at the start. This is a reasonable time estimate to meet key milestones that Seed round investors would be looking for in their investment evaluation.&#x20;

Market conditions and company-specific needs may increase or decrease this estimate. The key is to plan for and allocate resources ($) to meet milestones that will (1) demonstrate sufficient traction to secure new funding from investors and (2) increase the valuation of the business.