Roland Lau, Co-founder at Rynse, shares their experience with Balanced:

The thing I value most about Balanced is that I can trust the numbers now. Our accounting is genuinely complicated, and they're the first team that's been able to keep up with it. Every time we need financials for investors, Balanced is ready. They're fast, they don't miss things, and they actually understand how our business works

Overview

Rynse is a fast-growing fleet management and spend platform that connects government agencies, municipalities, and enterprise fleets to a nationwide network of car wash, fuel, maintenance, and EV charging vendors. They act as a marketplace facilitator, helping fleets secure volume discounts and seamless services while handling the two-sided transaction flow between localities/municipalities and service providers.

The Challenge

After raising their seed round, Rynse had strong product traction but needed more professional financial systems to match their growth ambitions. Their marketplace model created unique complexities:

• Two-sided cash flows: collecting from fleet customers while paying out to car washes and vendors, with tricky funding and prepaid mechanisms.

• Manual and confusing revenue and cost recording.

• Operating on cash accounting, which was insufficient for investor-ready reporting.

• Difficulty achieving clean tie-outs and clear visibility into the true economics of the business.

• Time-consuming manual processes and the need for sophisticated FP&A-style reporting.

Balanced’s Solution

We stepped in as both a bookkeeping partner and strategic thought partner to build a robust financial system tailored to their marketplace operations. The goal was to bring them to accrual accounting, automate key flows, and deliver deep visibility.

What We Put in Place:

• Zoho Revenue Integration — Built an automated integration with Zoho to pull and record revenue data cleanly and consistently.

• Cost-Side Integration — Developed integration with their internal system to automatically pull and allocate costs/payouts to car wash vendors and service providers.

• Accrual Accounting Transition — Fully moved them from cash to accrual basis, including proper handling of prepaid mechanisms and complex payment flows.

• Revenue & Cost Recognition Processes — Designed thoughtful accounting treatments for their two-sided marketplace model.

• Automated Reporting Suite — Delivered detailed automated reports including full P&Ls, balance sheets, cash reporting, and advanced metrics typically seen in dedicated FP&A environments.

The Results

Rynse now operates with clean, accrual-based financials that accurately reflect their marketplace business. Revenue and vendor payouts flow automatically, significantly reducing manual work and errors.

Leadership has clear visibility into the economics of both sides of the platform, with reliable tie-outs and sophisticated reporting for internal decisions and investor communications. The complicated prepaid and funding mechanics are now properly accounted for, freeing the team to focus on scaling their fleet platform instead of wrestling with the books.