Pilot is an accounting service software utilized by financial professionals on the company’s team. The Pilot team works specifically with small businesses experiencing high-growth and helps out with bookkeeping, taxes, and CFO services. Pilot works with many companies in various industries — both nationally and internationally.
Pilot has three main bookkeeping packages, all of which are accrual-basis bookkeeping plans. The pricing of each package is based on the client company’s monthly expenses. Pilot bookkeeping plans include the following:
Pilot’s software helps eliminate report errors, which in turn makes company books more accurate. Pilot performs monthly bookkeeping, provides burn rate reports and inventory updates, and uses report metrics that are specific to each company’s industry.
For companies looking to outsource CFO services, Pilot could be a great option. A company might choose to outsource CFO work if it does not currently have the funds to hire a full-time CFO. Pilot offers two CFO Service plans:
In order to be eligible for Pilot's tax service plans, the client must also purchase Pilot Bookkeeping. Tax services by Pilot are not available independently. The following two tax service plans are offered:
In addition to bookkeeping and taxes, Pilot also has options for a few specific products and services. These are available for purchase at an hourly rate and include:
Specifics of these individual add-ons would need to be discussed with a Pilot representative.
Start-ups working with Pilot can take advantage of an awesome monthly incentive. Any pre-revenue companies qualify for a monthly $200 discount on Core and Select plans. This incentive can be initiated by speaking with a Pilot consultant.
Pilot’s monthly plan prices are a bit higher than comparable plans offered by industry competitors. Pilot does not give any free trials on its plans, where some other companies do.
The cost of Pilot services are based on a monthly price, but services are prepaid annually. This means that if you choose to use Pilot, you are locked in for a full year. Thus, there are no options for monthly billing when using Pilot.
The other issue is that with expense-based pricing, these annual prices are not locked. As your company grows and expenses increase, the pricing of services will increase. Your prepaid amount will go toward the cost, but Pilot will also bill you the difference.
As stated in the Tax Services section, only those who have purchased bookkeeping from Pilot qualify for tax services through Pilot. Not only that, but there are a couple tax services that the company does not offer. Pilot does not do personal income tax or sales tax for its clients.
Accrual-basis accounting is the most common method used in accounting, but some businesses may prefer to use cash-basis accounting. Unfortunately, Pilot does not do cash-basis accounting. Those seeking this type of work should look elsewhere.
Pilot does not offer payroll as part of its accounting plans. Only the CFO service plans mention anything about payroll services. Other companies in the industry will provide payroll services, even if it is for an additional cost.
Companies that have used Xero for bookkeeping may want to pursue other accounting service companies. Pilot only uses Quickbooks for bookkeeping. For those who use Quickbooks already, the process will be simple — but for those who don’t, it could be a setback.