Fondo Hello World

Overview

Verify your Fondo setup is working: check that bank transactions are syncing, payroll data is flowing, and your company qualifies for R&D tax credits.

Instructions

Step 1: Verify Bank Transaction Sync

Navigate to Fondo Dashboard > Transactions:

• Confirm recent bank transactions appear (may take 24-48h for initial sync)
• Check that Plaid connection shows "Connected" status
• Verify transaction dates match your bank statement

Step 2: Review Auto-Categorization

Fondo automatically categorizes transactions:

| Category | Examples | Tax Impact | |----------|----------|------------| | Payroll | Gusto payments, contractor 1099s | Deductible, R&D qualified | | Software | AWS, GitHub, Figma | Deductible, R&D qualified | | Office | WeWork, office supplies | Deductible | | Travel | Flights, hotels, meals | Partially deductible | | Revenue | Stripe payouts, customer payments | Taxable income | | Transfers | Between own accounts | Not taxable |

Review and correct any miscategorized transactions in Dashboard > Transactions.

Step 3: Check R&D Tax Credit Eligibility

Fondo Dashboard > Tax Credits > R&D Assessment

Eligible if ALL apply:
✓ US-based employees (W-2, not just contractors)
✓ Developing new/improved products, processes, or software
✓ Technical uncertainty exists in the development
✓ Systematic experimentation/iteration to resolve uncertainty

Average startup credit: $21,000/year
Maximum (payroll tax offset): $500,000/year

Step 4: Verify Payroll Data

Dashboard > Payroll Integration
  → Confirm employee count matches your payroll provider
  → Verify salary data for R&D credit calculations
  → Check contractor payments are categorized separately

Expected Output

After 48 hours of setup:

• Bank transactions auto-categorized (85%+ accuracy)
• Payroll data synced monthly
• R&D eligibility assessment complete
• Estimated R&D credit amount displayed

Error Handling

| Issue | Solution | |-------|----------| | No transactions appearing | Check Plaid connection status, allow 24-48h | | Wrong categorization | Manually recategorize, Fondo learns patterns | | R&D credit shows $0 | Verify W-2 employees doing qualifying work | | Payroll data missing | Re-authorize payroll provider OAuth |

Resources

• R&D Tax Credit Guide
• Fondo TaxPass

Next Steps

For development workflow details, see fondo-local-dev-loop.