LaunchPath

As co-founder of LaunchPath, Edwin Goutier built his company to help organizations leverage data-driven insights and technology for strategic growth. 

Like many entrepreneurs, he started out managing his own bookkeeping, believing he could keep up while running the business. But as LaunchPath scaled, keeping the books in order became overwhelming. 

Inconsistent record-keeping, missing transactions, and time constraints made it clear that DIY bookkeeping wasn’t sustainable and rather counterproductive.

The bookkeeping issues that hindered LaunchPath’s path

When Edwin turned to CoCountant, LaunchPath’s books were incomplete and disorganized—a common struggle for many fast-scaling businesses trying to DIY bookkeeping:

Missed transactions

Not all expenses made it into the books. Some business costs Edwin covered personally never got recorded, creating gaps in financial reports. This meant that LaunchPath’s profit and cash flow statements didn’t show the full financial picture, leading to misleading profitability insights and poor cash flow visibility.

Example: Edwin had personally paid for some company expenses during a tight cash period. However, when LaunchPath’s financials improved, he didn’t claim them immediately. Six months later, these expenses were still missing from the books, making historical financial reports inaccurate.

Inconsistent expense categorization

Some transactions were being recorded inconsistently. A SendGrid subscription, for instance, was sometimes categorized as “Software Expenses” and other times under “Dues & Subscriptions.” Similarly, an annual PO Box fee was misclassified as “Rent or Lease.”

Example: When evaluating software expenses, Edwin initially thought costs had increased significantly. But upon closer inspection, the inconsistency in expense categorization made it look that way—when in reality, there was no actual increase in software costs.

No reconciliations = Cash flow blind spots

Bank and credit card statements weren’t reconciled regularly. This meant that:

• LaunchPath didn’t have a true view of available cash
• Potential overdrafts or duplicate charges went unnoticed
• Financial forecasting was unreliable

Example: Without reconciliations, Edwin was making strategic decisions without knowing his true cash position. This created unnecessary stress and uncertainty, making it difficult to plan for growth.

The DIY bookkeeping approach, which once seemed manageable, was now a liability rather than a cost-saving measure. Without reliable numbers, business decisions were being made in the dark.

Bringing clarity to LaunchPath’s books and addressing obstacles

CoCountant started by cleaning up the books and identifying problem areas: 

Full bank and credit card reconciliations

• Ensured every transaction was accounted for
• Matched financial records with actual cash movement
• Eliminated the “missing transactions” problem

Outcome: For the first time, Edwin had full confidence in his cash flow numbers—knowing exactly where LaunchPath stood at any given moment.

Expense consistency and reporting standardization

• Implemented a consistent categorization system across all expenses
• Ensured subscriptions, leases, and software costs were categorized in a uniform manner
• Created a monthly expense breakdown by vendor so spending patterns could be analyzed

Outcome: Edwin can now accurately track costs month-over-month, spotting trends and identifying where the business was overspending.

Loan and liability tracking

• Properly recorded liabilities and broke down loans into current & non-current portions
• Ensured interest expenses were correctly classified per loan documents
• Reconciled outstanding loan balances with lender statements

Outcome: This provided Edwin with a clear view of LaunchPath’s financial obligations, making it easier to manage debt repayment schedules and interest expenses.

Industry benchmarking analysis

One of the biggest insights came from comparing LaunchPath’s financial ratios to industry standards. Using data from Investopedia, Investing.com, and other trusted sources, we evaluated:

• Current ratio – Assessing liquidity & short-term financial health
• Fixed asset turnover – Measuring how effectively assets were being used
• Debt-to-equity ratio – Analyzing financial leverage & risk
• Gross and net profit margins – Identifying areas for improved profitability

Outcome: Edwin gained clarity on how LaunchPath stacked up against competitors, giving him actionable insights to refine pricing, spending, and financial strategy.

Proactive monthly reporting

Beyond fixing the past, CoCountant introduced monthly reporting to prevent future bookkeeping issues. 

Each month, LaunchPath received:

• A categorized expense breakdown to track spending by vendor.
• A subscription review to eliminate unnecessary costs.
• High-variance expense analysis to identify spending patterns and optimize costs.

With organized books and clear financial tracking, Edwin can focus on growing LaunchPath instead of wasting his time sorting through transactions and other financial records.

Outcome: Edwin could now optimize spending, cut unnecessary costs, and ensure financial decisions were based on real data.

How CoCountant streamlined LaunchPath’s financial operations

With CoCountant managing the books, LaunchPath’s financial structure became more organized, reliable, and aligned with strategic decision-making. With our accounting and bookkeeping services, we have helped him establish a smoother, more transparent financial system that Edwin could depend on for growth.

Before working with CoCountant, Edwin was spending valuable time managing books—time that could have been spent growing LaunchPath. Now, with a dedicated financial team handling bookkeeping, reconciliations, and reporting, he has:

• More bandwidth to focus on business growth and client relationships
• Peace of mind knowing that financial data is accurate and up-to-date
• Greater trust in his numbers, leading to better financial decision-making

Edwin’s financial clarity started with a conversation. Yours is also just a click away.