Today, Carta announced a new tool that automates ASC 718 stock-based compensation reporting—making it possible for companies to easily build audit-defensible financial reports for profits interest units right on Carta.
“Carta has been amazing for us in terms of getting real-time ASC 718 reporting for our profits interest units,” said Jake Hansen, corporate controller at NMI. “Typically, we did expense reporting once a year because of the labor involved in doing it in-house. Now we are able to book it monthly. It’s great.”
Using Carta’s new automated ASC 718 Financial Reporting tool, LLCs can:
Automate expense and disclosure reports based on real-time information within their Carta cap table, eliminating the need for manual reconciliation
Confidently enter audits with accurate, transparent, and defensible stock-based compensation expense and disclosure reports
Customize reporting parameters and generate reports using the same ones every month, quarter, or year to ensure consistency
Expense profit interests with any time-based and performance-based vesting conditions
“Finance teams used to have to manually calculate ASC 718 expenses for monthly, quarterly, and annual financial statements,” said Vrushali Paunikar, chief product officer at Carta. “Not anymore. With our automated ASC 718 tool, finance teams can pull expense and disclosure reports right on Carta with just a few clicks.”
If you’re a Carta LLC customer, contact your CSM for a demo and pricing. If you’re new to Carta LLC, request a demo of ASC 718 and our cap table management platform here.