article thumbnail

SaaS Financial Audits: 5 Tips for a SaaS Company's Financial Audit

ProfitWell

The following are some of the reasons why a SaaS financial audit is different: Recurring payments. Long-term payment structures. The monthly subscription revenue model, unfortunately, is not enough to ensure consistency of income in the long-term. Operating expenses. Financial reports are structured differently.

article thumbnail

SaaS Sales Tax and What You Need to Know [2020] | ProfitWell

ProfitWell

Tax laws are complex and, for businesses operating in the United States, every state has their own set of laws that must be followed in addition to federal tax laws. These are the laws as of 2020, but you should always talk to a tax professional as the final word in sales tax & compliance issues.