Jul 19 2023
From EY to Starbucks to Startups with Keeley Favoino, CPA, Controller at Foxtrot
Follow the journey of Keeley Favoino, CPA, from her background in accounting at various organizations, including EY, Starbucks, OfferUp, and Farmer's Fridge, before joining Foxtrot, a modern corner store concept. Foxtrot's accounting department was initially focused on bookkeeping, but as the company grew, so did the need for a more robust accounting system. Keeley led the transformation from cash basis accounting to GAAP financials using QuickBooks Online, creating streamlined processes and establishing communication channels between departments. As Foxtrot continued to expand, Keeley and her team decided to upgrade to NetSuite, a platform that could better handle their reporting needs and integrate well with their existing tech stack.Sponsor Check out our Sponsor LiveFlow — Advanced Financial Reporting on AutopilotSign up to get free CPE for listening to this podcasthttps://earmarkcpe.comDownload the Earmark CPE App Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.appChapters(00:22) - Preview: Being curious and finding the right fit
(01:31) - Earn Free CPE
(01:52) - Welcome Keeley to the show, and please tell us about FoxTrot
(06:15) - What did Foxtrot look like in the beginning?
(09:06) - What did the accounting team look like when you joined?
(12:28) - How did you start working with startups?
(25:30) - What came after OfferUp?
(32:37) - Walk us through your moves with setting up systems
(46:49) - What were your next steps and systems you implemented
(49:19) - How did you pick your ERP system?
(50:56) - What is a 4-4-5 Calendar
(01:02:02) - What is your favorite thing about NetSuite?
(01:10:26) - What is next for Keeley?
(01:12:22) - What advice would you give to a young public accountant that is interested in startups?
(01:16:08) - Wrap up and how to connect with KeeleyConnect with Our Guest, Keeley FavoinoLinkedIn: https://www.linkedin.com/in/keeley-favoino/Learn more about Foxtrothttps://foxtrotco.com/Connect with Blake Oliver, CPALinkedIn: https://www.linkedin.com/in/blaketoliverTwitter: https://twitter.com/blaketoliver/