Scope sheet
finbryn.com
Special situations
Switching from Crunch
Founders running a UK-registered company on Crunch who add a US entity need a second, separate set of books, not a UK file stretched to fit. Finbryn sets up the US entity on QuickBooks Online or Xero under US GAAP, tracks intercompany balances against the UK side, and flags Form 5472 exposure early for foreign-owned structures.
What is included
- A new QuickBooks Online or Xero file built for the US entity under US GAAP
- An agreed opening intercompany balance between the US entity and the UK Crunch-maintained entity
- Monthly bank, card, and processor reconciliation for the US entity
- Monthly P&L and balance sheet for the US entity
- A recurring intercompany reconciliation between the two entities each period
- A Form 5472 exposure screen completed during onboarding
- Transaction-level records supporting Form 5472 preparation, where it applies
- A written scope letter naming exactly which entity and accounts are covered
The process
- 1.
Intake on both entities
We review the US entity's formation documents and EIN alongside a summary of what Crunch shows for the UK entity, focused on identifying every intercompany transaction.
- 2.
Agree the opening intercompany balance
Any loan, contribution, or management charge between the two entities is confirmed in writing with you before it is booked on the US side.
- 3.
Build the US chart of accounts
A new QuickBooks Online or Xero file is set up specifically for US GAAP categories, sales tax handling, and 1099 contractor tracking.
- 4.
Screen for Form 5472 exposure
We check foreign-ownership percentage and transaction types against the 25%-foreign-owned threshold and flag any reportable transaction with the UK side.
- 5.
Run the first monthly close
Bank and card accounts are reconciled, the intercompany balance is updated, and a first P&L and balance sheet are issued for review.
- 6.
Hand off ongoing bookkeeping
Monthly bookkeeping continues on Finbryn's standard schedule, with the intercompany reconciliation repeated every period rather than only at year-end.
Software
QuickBooks Online, Xero, Gusto, ADP, Rippling, Deel
Quality control
Every month's close for the US entity, including the intercompany reconciliation, is reviewed by a senior reviewer before it reaches you.
Pricing
This engagement combines a one-time US file setup and intercompany reconciliation with Finbryn's standard ongoing monthly bookkeeping tiers. Current tier pricing and the setup-fee range are published on the US pricing page; your exact fee for both the setup and the ongoing monthly work is confirmed in writing before anything begins, based on transaction volume and how much intercompany history needs to be reconstructed.
Finbryn is a brand of Northlane Solutions Inc., a Delaware corporation.
Reviewed September 2026