From cash to accrual

Kevin Qi joined Daytona as the first Finance hire, leaving behind a world where accounting was managed by a dedicated internal team. Inheriting books managed by an external bookkeeper, Kevin's first priority was to partner with Quanta to restate historicals and transition Daytona to accrual-based accounting.

For a business built on prepaid credits and usage-based revenue, the difference between cash collected and revenue earned is significant. Kevin needed accrual books in place before he could forecast or advise the business with confidence.

"You need to get the historicals right before you actually get the forecast. Otherwise, you're building upon a bad foundation. With Quanta, a lot of that heavy lifting is now done."

— Kevin Qi, Head of Finance, Daytona

Making a complex revenue model workable

Daytona's revenue data lives in several systems. Usage and billing are tracked separately, and Kevin pulls together the custom revenue inputs himself.

Quanta worked with Kevin to build financials that match how Daytona operates, covering prepaid credits, enterprise invoices, promotional usage, and the vendor and expense processes behind them. This allows Kevin to stay involved where his knowledge of the business matters while Quanta's accounting ops team handles the rest.

Room to build the team on his own timeline

With Quanta running the accounting, Kevin is able to spend more of his time on raising, forecasting, and managing capital

He expects to hire internally as the company grows, but didn't need to do so immediately after joining. That gives him room to build the team around the company's needs, with Quanta continuing to support the accounting and able to work alongside the future in-house team.

“Quanta bridges the gap between a zero-person finance team and building out accounting in-house.”

— Kevin Qi