You Just Raised Your Seed Round. Here's Your Finance Checklist for the Next 90 Days

You closed your seed round. The money is in the bank, your investors are on board, and you're ready to start building.

But before you start hiring and scaling, there's something else to take care of: your finances.

The first 90 days after seed funding are the time to get your financial operations in order. That means moving beyond DIY bookkeeping, understanding your runway, setting up payroll, and preparing for investor reporting.

You don't need to hire a CFO or build an entire finance department. You just need the right systems in place before things get complicated.

Here's your 90-day post-seed funding finance checklist.

Days 1–30: Get Your Financial Foundation in Place

Your first month is about getting organized. You have new capital to manage, new expectations to meet, and probably a growing list of things you want to spend money on.

Start with the basics.

1. Separate Your Funding and Organize Your Accounts

Your seed funding should go into a dedicated business bank account, not your personal account.

If you've already been operating through a business account, make sure your new funding is properly recorded and that you can clearly track how you're using it.

During your first month:

• Confirm all funding proceeds have arrived and match your closing documents.
• Record the financing correctly in your books. Equity proceeds and convertible financing aren't operating revenue.
• Separate business and personal expenses.
• Review who has access to company accounts and spending tools.
• Update your capitalization table to reflect the round.

You should also establish basic spending controls. Decide who can approve expenses, issue company cards, and authorize larger purchases.

You don't need a complicated approval process. You just need to know where the money is going.

2. Move From DIY Bookkeeping to a Monthly Close

Before raising, you may have managed your books with spreadsheets, bank transactions, or an accounting tool you updated whenever you had time.

That becomes harder to maintain once you're hiring employees, paying contractors, and reporting to investors.

A monthly close means reconciling your accounts, reviewing transactions, and finalizing your financial statements every month.

Your monthly bookkeeping process should include:

• Reconciling bank and credit card transactions.
• Categorizing revenue and expenses consistently.
• Recording payroll, contractor payments, and other liabilities.
• Reviewing your profit and loss statement and balance sheet.
• Identifying and correcting discrepancies before closing the month.

Aim to establish a consistent reporting schedule so you know when your financial statements will be ready.

The goal isn't just accurate books for tax season. It's having reliable numbers you can use to run your company.

If you're ready to move beyond DIY accounting, Fondo's startup bookkeeping helps keep your books closed and your financial reports ready without adding another full-time hire.

3. Recalculate Your Burn Rate and Runway

A larger bank balance doesn't automatically mean you have plenty of runway.

Your spending will probably increase after your raise, especially if you're planning to hire, expand product development, or invest in growth.

Start by calculating:

• Gross burn: Your total monthly cash operating expenses.
• Net burn: The amount of cash your startup uses each month after accounting for cash inflows.
• Runway: How many months your available cash can support operations at your expected net burn rate.

For example, if your startup has $2 million in available cash and burns $100,000 per month, you have approximately 20 months of runway at that rate.

But if hiring increases your monthly burn to $150,000, that runway drops to roughly 13 months.

That's why your financial plan should reflect where spending is going, not just where it is today.

Read more about how founders can extend runway before their next raise.

Days 31–60: Build the Systems You'll Need to Scale

By month two, your focus shifts from organizing your finances to making sure your processes can support a growing team.

4. Get Payroll and Contractor Payments Set Up Correctly

Hiring is often one of the first things founders do after raising seed funding.

Before you bring on employees or contractors, make sure you have the right payment and tax processes in place.

For employees:

• Set up payroll with appropriate federal and state registrations.
• Collect required onboarding and tax forms.
• Establish payroll schedules and withholding.
• Review employee benefits and applicable state requirements.

For contractors:

• Determine whether each worker is properly classified as an independent contractor.
• Collect Form W-9 from applicable U.S. contractors.
• Track payments and maintain invoices and agreements.
• Determine whether Form 1099 reporting is required.

Misclassifying workers or failing to track contractor payments can create tax and compliance issues later.

Fondo's 1099 guide for startups covers reporting requirements for Delaware C-Corps and the forms founders need to understand.

5. Create a Budget Based on Your Next Milestones

Your seed round should fund progress toward your next major business milestone, whether that's reaching product-market fit, growing revenue, or preparing for Series A.

Your budget should reflect those goals.

Break your planned spending into major categories:

• Engineering and product development
• Hiring and compensation
• Sales and marketing
• Cloud infrastructure and software
• Legal, accounting, and administrative costs

Then connect each major investment to a business objective.

For example, if you're hiring three engineers to accelerate product development, what should that investment help your team deliver over the next six months?

Create a base-case forecast and a slower-growth scenario. Review actual spending against your budget monthly, and adjust when your assumptions change.

Your budget doesn't have to predict everything perfectly. It should help you recognize when you're moving off plan.

6. Start Tracking Expenses That May Qualify for R&D Tax Credits

If your startup is building software, developing technology, or solving technical challenges, some of your expenses may qualify for the federal R&D tax credit.

And you don't necessarily need to be profitable to benefit.

Eligible small businesses may elect to apply up to $500,000 in qualifying annual R&D credits against certain employer payroll taxes, subject to eligibility requirements and the credit earned.

That makes R&D credits particularly relevant for seed-stage startups investing heavily in engineering and product development.

Start tracking potentially qualifying expenses now, including:

• Employee wages associated with qualifying research.
• Eligible contractor research expenses.
• Certain supplies and cloud computing costs used in qualifying research.
• Documentation of technical experimentation and development work.

Not every engineering expense qualifies, so it's important to understand the eligibility requirements.

Learn more about tax credits your startup might qualify for and how they could help preserve runway.

Days 61–90: Get Investor-Ready and Establish Your Monthly Routine

By month three, your goal is to have financial processes that run consistently without requiring you to rebuild reports every time someone asks for an update.

7. Create Your Investor Reporting Process

Your investors backed your startup because they believe in what you're building. Now they'll want to understand how the business is progressing.

The exact reporting requirements depend on your investor agreements, but a monthly or quarterly investor update is a useful habit.

A basic financial update should cover:

• Cash balance: How much capital you currently have available.
• Burn rate and runway: How quickly you're spending and how long your cash will last.
• Revenue and growth: Progress against your financial and business goals.
• Budget vs. actuals: How spending compares with your plan.
• Key milestones: What you've accomplished and what's next.

Keep reporting consistent. Investors should be able to understand what changed since the last update without digging through spreadsheets.

You don't need a 30-page report. You need accurate numbers, a clear explanation, and a consistent process for sharing them.

8. Review Your Tax and Compliance Calendar

Closing a seed round doesn't eliminate your existing tax obligations. As your team and operations grow, you may have more deadlines to manage.

Before the end of your first 90 days, review:

• Federal and state corporate income tax filing requirements.
• Delaware franchise tax and annual report deadlines, if applicable.
• Payroll tax deposits and reporting.
• Contractor information return requirements.
• State registrations and other obligations created by hiring or expanding operations.
• R&D tax credit eligibility and documentation.

Some deadlines may fall within your first 90 days, so don't wait until day 90 to address them.

Having a tax calendar and an accounting partner who understands venture-backed startups can help you avoid last-minute surprises.

9. Establish Your Monthly Finance Review

Once your books are being closed consistently, make reviewing your financials part of your regular operating routine.

Set aside time each month to answer five questions:

1. How much cash do we have?
2. What's our current burn rate and runway?
3. Where are we spending more or less than planned?
4. Are we making progress toward our next funding milestone?
5. What financial decisions do we need to make this month?

This doesn't have to be a long meeting. Even a focused monthly review can help you spot problems early and make better decisions about where to invest.

You Raised the Capital. Let Fondo Handle the Books.

The first 90 days after your seed round are about putting your capital to work. You have a product to build, a team to grow, and milestones to hit before your next raise.

You shouldn't have to spend that time categorizing transactions, reconciling accounts, or chasing tax deadlines.

Fondo helps seed-stage founders keep bookkeeping, corporate taxes, and R&D tax credits organized with expert accountants and software built for startups.

Clean books. Investor-ready financials. Less time managing accounting.

Book a demo with Fondo and get your startup's finances ready for what's next.

Frequently Asked Questions About Managing Seed Funding

What Should a Startup Do Immediately After Raising Seed Funding?

Start by confirming the funds have been received, updating your cap table, organizing your business accounts, and recalculating your runway. You should also establish monthly bookkeeping and financial reporting processes before spending increases.

Does a Seed-Stage Startup Need a CFO?

Not necessarily. Many seed-stage startups can manage their financial operations with a reliable bookkeeping and accounting partner. As the business grows more complex, founders may benefit from fractional CFO support or an internal finance hire.

How Often Should Seed-Stage Startups Close Their Books?

Monthly bookkeeping is generally a good fit for seed-stage startups. A consistent monthly close provides accurate financial statements for budgeting, runway management, investor reporting, and future fundraising.

What Financial Reports Do Seed Investors Expect?

Requirements vary by investor, but common reports include cash balance, burn rate, runway, revenue performance, and progress against major milestones. Some investors also request financial statements and budget-to-actual comparisons.

‍Book a demo with Fondo and get your startup's finances ready for what's next.

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