Learn US Systems
US GAAP is the set of accounting rules US companies use when they publish financial statements. A brand-new LLC with one founder does not file GAAP statements with the IRS. The tax return follows tax rules, which are not the same as GAAP.
Banks, marketplaces, and a future investor will ask for a profit and loss and a balance sheet that tie to the bank. GAAP is the language those readers expect: revenue when it is earned, expenses when they are incurred, and a balance sheet that still balances.
Many small LLCs keep cash-basis books in the first year and still file a correct return. If you later need accrual statements, the bookkeeping service can recast the year. We will not pretend a CSV import is an audit.
Related: US taxation ยท Bookkeeping