Accounting Services for Startups

As a startup founder, it may feel like you have the entire world on your shoulders. You’re consumed by the many challenges that stand in the way of bringing your idea to life. All the while managing the day to day operations of your business. Although there are risks, the benefits of having your own startup outweigh those risks. While setting up a new business, you are so preoccupied with administrative tasks that maintaining proper accounting records and bookkeeping can become overwhelming. However if you fail to keep your financial records straight that may become a hurdle when you look to legally incorporate your business or when CRA decides to audit your business.

While setting-up a new business, cash flow matters greatly as usually there are limited resources and more expenses. It is one of the major reasons why you should get a professional to take care of your accounting needs from the get go.

At our firm we can help with everything from managing day to day operations, to working on your long-term strategy, all this while ensuring that your business is generating profits. In a rapidly changing world, business models keep on evolving, be it due to the changes in market trends or introduction of new technology, or in the new pandemic hit world we are living in. We keep track of all the startup systems and help you prepare your business for success with the latest technological tools, business expertise and a wide range of financial, accounting and taxation services. Our services not only include maintaining your books and financial records but also payroll services, your corporate and personal tax returns, any correspondence and audit assistance you may require with the regulatory authorities and tax planning.

Here is a list of services which can assist with:

1. Accounting Infrastructure Review and Process Implementation (1 month)

• • Introduce team and assess current processes
  • Review and document detailed processes within accounting infrastructure including bookkeeping, accounts payable, accounts receivable and tax compliance.
  • Assess and finalize software and 'app stack' to bring forth efficiencies in the accounting processes, provide automations where applicable, improve controls, etc.
  • Provide logins and training to internal team members

Startups

Are you confused on where to begin when starting up a business? There is no need to worry; we have many resources to help you succeed and help your business thrive. Accounting for start-ups is the same as that for any other business but with a special focus on first-time business owners and to encourage growth of the business. We understand the many challenges faced by start-up business owners. We have various accounting services available at your ease, including Advisory, Accounting, Tax, Incorporation, Bookkeeping, Payroll and year-end accounts filing services.

If you plan to reach out to investors, your financial statements should be accurate and up to date. Not only that but you need your books and accounting records to be ready for a CRA Audit as well. Outsourcing the accounting services for your startup means one less thing to worry about when you already have your hands full. Feel free to contact SRJ Chartered Professional Accountants for more information.