Who Are The Best Startup Accountants In The Los Angeles Area?

Who Are The Best Startup Accountants In The Los Angeles Area?

Who Are the Best Startup Accountants in the Los Angeles Area?

You may be wondering – who are the best startup accountants in the Los Angeles area. This is a question we hear very frequently from businesses looking to hire a professional accounting service in LA.

Before we talk about the best startup accountants, we are going to take a look at what startup accounting is and what you can expect from it. We will also talk about who is the best in the Los Angeles area so that you can feel comfortable picking the best startup accountant in the area. 

PRO TIP: Learn more about who to hire for startup services here!

Why Do I Need an Accountant? 

While you may be able to get by without an accountant or without any type of startup bookkeeping service, it would sure help to have one. Usually, a bookkeeper will have records of everything. This includes functions, payments, and invoices. This position will usually be part-time. However, adding an accountant can help encourage your business. If your business grows, you will need to have someone who can accurately manage everything that comes with a business. If you are going to raise your capital, you are going to need some help. Here are a few reasons why you should pick Startup Tandem. 

PRO TIP: If you choose to hire Startup Tandem, they also offer Fractional CFOs and HR consulting too!

how much does a CPA cost?
how much does a CPA cost?

Some Great Reasons Your Startup In LA Needs An Accountant

Taxes 

When you do your taxes, you will look at other items compared to regular tax returns. You will want to look at any credits available. Keep in mind that the International Revenue Service has increased the documents needed to achieve certain credits. Having an accountant will help you better understand these credits and how to obtain them to help you save money. 

PRO TIP: Read this post do I need a bookkeeper if I have quickbooks!

Organization

Your number system may be a complete mess. However, an accountant can come in and help you create a system where everything is organized. They can help you put documents in proper placement and create a system for your business that will allow you to keep track of financials. 

Compliance

You need to have an accountant to help you determine if you are following the rules for taxes or not. They are able to help you budget for items needed and find the best deals with tax breaks. A startup accountant will help ensure that you are set to go before the company takes off. 

Modeling 

Your startup accountant will help you create models. They can help determine your rate in which money is spent and earned. This is critical to know when you are first starting a business. That is why it is essential to have the right person doing the job. 

Your accountant will help you forecast what will be made and what needs to be made in order to keep the business floating. There may be several different charts with numbers that an accountant may help you with. 

PRO TIP: Learn how to find the best CFO consulting firm in Los Angeles in our recent blog post.

Budgeting 

When you have a business that is just starting out, you will not have funds to go crazy. You will have enough funds to get going and make some money. However, you need to be aware of where that money is going. This is why an accountant may be helpful. They can help you determine how much should go where. This will allow you to have the biggest return rate. 

Why Do I Need a Startup Accountant for my Business?

If you have someone helping you forecast, budget, and do all the other items in this article, then you will not have to worry for quite some time. The accountants will help you learn how to properly run your business from a financial point of view. They are there to help your business thrive and achieve your goals. 

Your business can become remarkably successful if the financial department flourishes. If your company has the power to push products and you have a startup accountant on your side, you are going to fly. A startup accountant will allow you to do everything that you have dreamed of for so long. Your business will now be a dream come true. 

Wrapping Up: Who Are The Best Startup Accountants In The Los Angeles Area?

Startup accountants are going to be greatly beneficial to any business. Whether you are just starting out or experiencing some problems with your financial system, you can count on us to help you get back in order. Here at Startup Tandem, you will have the best on your side so that you can bring in the money to take care of your family. Plus, having a good and functionable financial system will make the company much stronger. This may allow for pay raises or additional employees be added. 

Startup Tandem Is The Best Startup Accountant In The Los Angeles Area!

Startup Tandem is the best startup accountant in the Los Angeles area! We offer a variety of accounting services to startups in Los Angeles and beyond! We also offer a variety of other services too!

You should now have a better idea of who are the best startup accountants in the Los Angeles area and we wish you all the best!

Do I Need A Bookkeeper If I Have Quickbooks

Do I Need A Bookkeeper If I Have Quickbooks

If You’re Wondering Do I Need A Bookkeeper If I Have Quickbooks – Please Read!

You may be asking yourself- do I need a bookkeeper if I have quickbooks. This post will go into everything and answer your question of whether or not you need a bookkeeper if you have bookkeeping software (like Quickbooks) that you manage on your own.

Why Every Startup Should Have a Bookkeeper(Even if You Have Quickbooks)

Are you only using Quickbooks to keep track of your cash flow for your business? Think you don’t need the help of a bookkeeper? Think again! 

This post will explain to you why you need a bookkeeper and accounting team for your startup even if you have quickbooks. Read on below why you should invest in bookkeeping services for your new business!

What is Quickbooks?

Developed by the popular financial software  company Inuit, Quickbooks is an accounting software package designed for small businesses in mind. This software can help business owners who have no experience in accounting or bookkeeping, and who need professional assistance in categorizing expenses, payroll functions, paying bills, and managing payments. Quickbooks is a highly automated software built for an introduction into the world of financial management for business owners. 

An entry level step into accounting and bookkeeping, Quickbooks can be a useful tool for business owners but is no good on its own. Quickbooks works best when paired with a bookkeeper who can help guide and explain things to you. Below are several disadvantages of using solely Quickbooks as your only source of financial tracking within your business. 

PRO TIP: You may want to check out this article: how to find the best CFO consulting firm in Los Angeles. It will be very informative!

how to choose a small business accounting service
how to choose a small business accounting service

Disadvantages of Quickbooks

Quickbooks is an entry level solution for small to medium sized business owners who have little to no idea what they are doing. However, if you are looking for a personalized option to scale your business even further, using only Quickbooks is probably not the best plan for you. There are advantages to Quickbooks: it’s an affordable option and easy to use. If you are looking for the best financial decision for your business, however, you will need a bookkeeper too. When used alone as a primary way to organize and track your financial data, Quickbooks has some disadvantages. These may include:

  • Limited business features which do include functions such as  HR management, lot tracking, barcode scanning, and eCommerce.
  • Pricey options for add-ons which can dramatically increase the cost of Quickbooks by up to six times the amount of the basic plan. Some of these expensive add ons include features like automated data backups, multiple users, management charts, customized reporting, and automated approvals. 
  • Random site crashes and sometimes sluggish site due to a limited number of users and file sizes that are admitted on the site. This can be a huge problem for you and your business, especially if you are working on a large and important transaction. 
  • No backup or cloud to recover from mistakes which is a necessity these days in the world of technology. Did you accidentally enter data in the incorrect account? Imported multiple transactions to the wrong place? If using Quickbooks, mistakes big and small are permanent and not retractable. 
  • Customer service which guides users to online forums to help answer concerns or questions instead of customer service specialists. Quickbooks prefers users to find answers from other users instead of assisting directly. 
  • Easily manipulated data which, while made easier for you to fix errors and mistakes, makes it even simpler for someone with malicious intention to ruin your precious data. 

The above disadvantages can be solved with the help of a professionally trained bookkeeper who can keep track of all your financial expenses and can even help manage your Quickbooks account. Using both a bookkeeper and the Quickbooks software can put you at an advantage over other business owners who lose money through poor financial tracking. 

What is Bookkeeping? 

If you have a business and are looking to increase revenue or simply maintain it, a bookkeeper or bookkeeping service near you is a highly recommended option to keep track of cash flow and expenses. Companies such as Startup Tandem offer a range of financial and accounting services, in addition to Fractional CFOs to help with day to day analysis, reporting and organization. Learn more about our fractional CFOs in Los Angeles or give us a call.

Bookkeeping keeps a record of all financial transactions within your business. Additionally, proper bookkeeping is required to be able to correctly file your taxes each year. Filing your taxes as a business owner is not a matter to take lightly. 

Bookkeeping is not to be confused with accounting, which uses the information bookkeepers give to determine a business owner’s financial state and can help with tax returns, independent audits, and certified financial statements. 

In comparison, bookkeepers manage your financial data and record financial information. This information is crucial as it is a big part of being aware of your transactions, cash flow, and additional financial matters which are a major part of your business. 

Pro Tip: Read our article to learn how to choose a small business accountant!

Why Do I Need a Bookkeeper if I Have Quickbooks?

The answer is simple, and it depends on if you are willing to take the risk of losing money for your business every year. While Quickbooks can be a beginner-friendly way to dip your toes into the world of accounting for your business, it is not the wisest financial decision when used alone and without guidance. 

Quickbooks relies on its users to never make mistakes, and this is where a hired bookkeeper can come in handy. Most business owners are not built in bookkeepers and are not aware of the many rules surrounding every entry made. There is rarely a straightforward answer when working as a bookkeeper. That is why it is so much more efficient to work with someone who is trained and can help you jump through all the hoops. Reasons you should hire a bookkeeper even if you have Quickbooks:

  • Bookkeepers Increase Financial Accuracy in Your Business
  • Quickbooks Does Not Catch Errors That Bookkeepers Can
  • Bookkeepers Save Wasted Time That Could Be Used For Your Business
  • There Is Lower Risk Involved in Hiring a Bookkeeper vs. Relying on Quickbooks or Employees
  • Financial Reports Are More Easily Understood and Presented 
  • Filing Taxes is Easier

Bookkeepers Increase Financial Accuracy In Your Business

While technology is an amazing tool that is helpful for businesses in many ways, it is not always the most accurate. This is especially true for working with your financial transactions and recordkeeping online. Quickbooks doesn’t see your business from the inside out; it is online aware of what you are inputting. Working with a bookkeeper gives you an advantage of ensuring your entries are correct and accurate. Without accurate tracking, you could be seriously risking expensive fines and penalties with your tax return. 

The last thing you want to be doing is struggling during tax season. Not only does having a bookkeeper help you become more organized as a business, but it also helps you have less stress surrounding your finances, too!

Quickbooks Does Not Catch Errors That Bookkeepers Can

Quickbook does not have the ability to detect any errors or mistakes you may have accidentally made. This is where your bookkeeper can really make a difference in your business. Imagine listing an entry incorrectly and having to deal with the consequences down the road. No one wants to find out they owe more than they do be fined ridiculous amounts of money. 

Use Quickbooks and also have a bookkeeper on hand to look through your accounts and entries. Your bookkeeper can monitor your accounts and ensure that all entries and transactions are accurately made. 

Bookkeepers Save Wasted Time That Could Be Used For Your Business

You own a business and strive to make it a success. Why spend hours record keeping and financial planning when you could be spending your time and energy on your business? Time is more valuable than money and you could be using the time focused on bookkeeping to grow and scale your business instead.

Spend more time doing what you enjoy, and less time stressing about the record keeping portion of your business. 

Do I need a bookkeeper if I have quickbooks?
financial and accounting services

There is Lower Risk Involved in Hiring a Bookkeeper vs. Relying on Quickbooks or Employees

Have you thought about using one of your employees to manage bookkeeping? Not a good idea, as it is much more likely for a signed on employee to commit fraudulent activity than a bookkeeper within a company. Hiring someone from the outside who has been screened by their company is a much lower risk than hiring from within. 

If in the unfortunate event that a bookkeeper does commit fraud, there is a company behind them that is able to retain the losses and compensate you accordingly. 

Financial Reports Are More Easily Understood and Presented 

While Quickbooks has a great feature which organizes and presents your data, most business owners don’t know what to do with the data that is shown. What does it mean for their company? How should they use this information? An understanding of all of the data and how it is shown in the presentation is necessary for reading the report accurately and successfully. Bookkeepers are much more helpful in this regard as they can read the report with accuracy and present it in a way that not only makes sense to you, but to potential investors and shareholders as well. 

Filing Taxes is Easier

As stated earlier, taxes are an integral part of your business and are a major aspect of your business. If filed incorrectly, there are costly penalties and fines that can set your business back. 

Quickbooks works alongside TurboTax to file your taxes, which can make it easier to file your taxes as a business owner. However, if you want peace of mind, hire a bookkeeper to keep all of your finances in line. The more complicated your tax information is, the higher chance of errors during tax season. A financial expert such as a bookkeeper keeps things running smoothly for you. An automated software like Quickbooks can never compare to someone professionally trained with the books. 

Quickbooks vs. a Bookkeeper

Quickbooks can do the basics for your business but at times when used alone is not user friendly. With Quickbooks you can:

  • Store and analyze data
  • Pay invoices
  • Generate reports
  • Prepare taxes
  • Keep track of recordkeeping
  • Use double entry accounting feature

This is all great information to have, but with Quickbooks, it is just that; information. There is no one to guide you through the process or explain to you what your reports mean or how you should enter your business expenses. With the help of a bookkeeper you can have access to all of the information above, but with the added assistance of having someone give you financial advice and explain what is going on with your finances. 

Bookkeepers are capable of everything that Quickbooks does and more. Not only can they accomplish all that is listed above, there is the personalized component that Quickbooks does not have available for business owners. Your personal bookkeeper knows the ins and outs of your business, what goals you have, all of your expenses, personal and professional. They are aware of all financial transactions occurring and the cash flow within your business. With Quickbooks, the software relies on you to do a decent job of acting as bookkeeping without the training. 

At first, Quickbooks alone might seem attractive to the small business owner with its affordable prices. However, sooner rather than later the features that Quickbooks has as add-ons will add to your expenses and dramatically increase what you pay monthly. Why only choose an automated software such as Quickbooks when you could also use the help of a professional with years of experience?

PRO TIP: Read our article to learn how much does a CPA cost!

Why You Need a Bookkeeper Even if You Have Quickbooks!

It may be tempting as a small business owner to DIY it all and avoid paying for a bookkeeper. However, only using Quickbooks can actually put you and your business at more of a financial strain. With expensive add-on features that can multiply the cost of their software up to six times as much, using only Quickbooks would do more harm than good for your business. Instead, limit your use of Quickbooks and use a bookkeeper to keep track of everything going on within the walls of your growing business. 

Technology is evolving which can be fantastic for new business owners. However, why only choose software over a trained bookkeeper when it comes to the biggest part of your business: finances! Allow a trained professional to take over your transactions to let you focus on your business instead. It is my hope this post convinced you on why you need a bookkeeper even if you have Quickbooks!

Hire Startup Tandem For Accounting And Bookkeeping Services

Hire Startup Tandem for your accounting and bookkeeping services we have locations in LA and Delaware. Please take a look at our locations below and contact us if you have questions on our services!

How Much Does A CPA Cost?

How Much Does A CPA Cost?

How Much Does a CPA Cost?

For creative entrepreneurs and business starters, one of the things you’ll probably be wondering is, how much does a CPA cost? The finances of a new business can be quite challenging and confusing, especially without a background in accounting. With that, you’re likely to turn to a financial professional to help.

One of those key financial professionals for your new business, is a CPA, a Certified Public Accountant. With a CPA at your side, the difficult and confusing elements of tax, reviews, and more can be handled professionally. A CPA can deal with your bookkeeping and accounting management too. So, let’s go over a few questions first;

PRO TIP: Read this article on trade spend strategies for effective promotion management! We know it will be helpful.

What is a CPA?

A CPA is not a title for a business like a CFO (Chief Financial Officer) but rather is a Certified Public Account. A Certified Public Accountant is an earned certification that demonstrates an accountant’s knowledge in the field of taxes, audits, business analysis, and compliance.

These certifications are earned through business courses that take several years to complete. After those courses, a CPA is required to take a nearly four-hour exam in order to attain the title of Certified Public Accountant. Once that title is attained through passing that exam, a CPA still has to keep an up-to-date knowledge of the yearly business taxation and regulation, along with much more.

When this certification is earned, it shows a knowledge of all major elements of accounting. Not only that, but it shows that the accountant has the highest ethical and professional standards. As a result, most businesses look for CPAs specifically when they’re trying to find an accountant or accounting and bookkeeping services for their business.

What Does a CPA Do For a Small Business?

So after all of that, you might be wondering what a CPA does, especially for a small business. The role of a Certified Public Accountant can vary from state to state, and business to business, depending on your financial needs, but there’s no shortage of tasks that they can accomplish;

  • Planning For Taxes
    • CPAs have an advanced knowledge of taxes on both a state and federal level for planning and filing.
    • Tax returns, such as payroll returns, income returns, and sales and use returns are important topics for CPAs. Their annual training requires them to keep up-to-date on the changes to tax return laws.
    • While it can vary from situation to situation, the National Society of Accountants reports that it will generally cost $154 an hour to hire a CPA for their tax service.
  • Advisory and Consultation
  • From business to government, people will go to Certified Public Accountants for their advice in all areas of accounting, be it increasing profit and revenue, or finding funds.
  • Certified accountants are also brought in to help investigate or dispute litigations. These specific issues, forensic accounting such as this can cost anywhere from $300 to $500 per hour.
  • Some firms will offer consultation along with traditional accounting services as a unit. Outside of that, however, it can cost an average of $158 per hour, according to the National Society of Accounting.

While these are the main functions of a CPA, there are many other things that a CPA is capable of depending on the firm and accountant. There are some firms and accountants that offer technological consults and software, estate planning, and more. Many offer bookkeeping and accounting management too. All of this can vary from firm to firm, so be informed before making any decisions.

Is a CPA Worth It For You?

For a small business, or an entrepreneur looking to start their business and maximize cash flow, you’re probably asking yourself if a CPA is worth the asking price. While there might be a more upfront cost to a good CPA, it can save you money down the line. They can show tax-credit opportunities, prepare you for growth, and organize financial statements, which are key if you plan on taking on investors and loans.

A CPA is worth it for you if you’re in any of these situations;

  • Your business has a more complicated tax situation;
    • If you do or plan to take business tax credits, such as the Alternative Fuel Vehicle Refueling Property Credit or the New Market Credit, or any number of other Tax Credits you may need a CPA to help properly file these with the IRS
  • Your goal is to take your company public;
    • As mentioned, if you want to take your company public, you’ll need your financial statements in order for investors and legislators to look over.
    • There’s also a set of rules in the United States, such as the GAAP, that CPAs are educated on, that you’ll need to abide by if you take your company public.
    • A CPA can also prepare for all of the requirements for an IPO, an Initial Public Offering for public companies.
  • You are in need of in-depth advice;
  • If you’re having trouble with a government body, specifically the IRS, a CPA, tax attorney, or an enrolled agent are the only people that can represent you in that instance.
  • In situations where you’re in an unknown or confusing financial situation, CPAs offer advisory and consultation to help you.

The Quality of a Good CPA Vs. The Cost

From all of that, it’s easy to see the benefits of having a good CPA. Now, if your business is a more straightforward transactional small business, you might be better served by an accounting software. If you’re in the situations that have been discussed, or you’re looking to establish an early and productive relationship with a Certified Accountant for proactive advice and planning, it might be best to start looking for a CPA. With all of that information, hopefully, you don’t need to wonder; what does a CPA cost?

Conclusion: How Much Does A CPA Cost?

The bottom line is that the upfront cost of a CPA is well worth it in the long run with the amount of money they will save for you.  Companies such as Startup Tandem offer a variety of financial services that can make the cost of hiring them well worth it for you as you improve cash flow and save money.  You can take a look at some of their services here or reach out to them for a free introductory call. Startup Tandem is your go to financial consultant for your startup! They offer a variety of financial and CFO consulting services.

We hope you now understand exactly how much does a CPA cost and we wish you all the best.

Which Startups Are Most Profitable?

Which Startups Are Most Profitable?

Which Startups Are Most Profitable? 

You may be sitting there, wondering, which startups are the most profitable? If you are thinking of quitting your job and starting a business, it’s important to read this post in advance of doing so.  Here we are going to discuss some of the most profitable startups that have been popping up on the radar. We are excited to share this information with you! Let us get started! 

What is a Startup?

Many people are unsure as to what a startup is. A startup is going to be any business that is opened under a small business. This startup is going to be what makes or breaks your business. We are going to discuss which small business startups are going to be best for those looking to start a small business. 

Taking the time to look at what is trending right now will help you determine what field you want to go into and if you are going to make money. Keep in mind that there are more than what is on this list. Just because it is not on this list, does not mean that your business will not make it. This list is going to show which startup areas are the most profitable at the current moment. 

What Businesses Are The Most Profitable?

Accounting/Tax

If you are looking for a profitable startup, accounting services and tax services are rising. Any type of financial management service is extremely lucrative. However the industry is very competitive and many companies just don’t do it right. 

Companies such as Startup Tandem offer financial management services and are very well respected in the financial sector.  If you need a financial management service, Startup Tandem should be your first choice.

People are always asking for help legally and with their taxes. If you are a small business or are looking to start one, this is the number one industry that small business see profit from. 

The reason that this is always at the top of the list is because no matter what happens to the economy, people are going to still need help with their taxes. People are still going to need someone to help them keep their items in order.which startups and businesses are most profitable

which startups are most profitable

Brokers/Agents 

A lot of people have been finding out that going into real estate has a large benefit for them. This is the third most profitable area for smaller businesses. They have an average profit margin of over fifteen percent. 

All you need to get into the industry is a broker license and some simple cards with your business information on it. However, this is always going to fluctuate depending on what the economy is at the time. 

Rental Business

Many people are finding out that dealing with rentals is going to bring in a lot of profit. In this instance, we are talking about renting and leasing vehicles. We do know that the auto industry is not a very profitable industry, however, rentals and leasing are a different story. The average profit is almost fifteen percent.

PRO TIP: Read more about what you need to start a business here. We know you’ll love this post!

Land Rental/Property Rental 

When you are a small business, you may find that you are left with rental properties. These are on the list because on average people are going to make fourteen percent net profit. 

The biggest thing to consider is that you will have a setup cost. This is any of the expenses that it cost to upgrade or renovate the home. These are all things that need to be done to a unit to ensure that it is livable for the renter. 

Once a property owner has gotten their original money put into the house back, they will start earning net income. This income is going to be extra money once the original amount is paid off. 

Keep in mind that running any rental can be difficult. It may not be for everyone. 

Dental 

You may not realize it, but dental workers are going to make a lot of money. This is especially true if it is a small business owner. On average they make fourteen percent net profit. This is going to come from those who repeat their business there. 

When there is a small company such as a dentist, you are going to want to ensure that the person comes back. This will help you keep money walking in the door. Plus, creating a nice clientele is going to ensure that people are happy and so are you. If the client is happy and taken care of, so will your wallet.what type of business should I start?

what type of business to start

Retaining Clients 

When you are a small business owner, you are going to want to ensure that your clients come back. Having a reliable clientele is going to be better than having a million customers. You want people who are going to always be faithful to you. This will ensure your profits.

CONCLUSION: What Type Of Startup Is Most Profitable?

Taking the time to determine what is bringing in money now and what you want to do is important. You need to understand how to keep clients happy and coming back. This is what is going to help a small business startup the most. Once you have your startup, you now are ready to make money. Keep in mind that you now know which startups are the most profitable and can determine which route you want to go.

Should I Have An Accountant If I Have A Startup

Should I Have An Accountant If I Have A Startup

Should I Have An Accountant If I Have A Startup Business?

Are you wondering, “Should I have an accountant if I have a startup business?”.  This post will answer all of your questions.  In addition, it will provide information on whether or not you should hire an accountant if you are a new business owner or have a startup. Read along as we answer all your questions on dealing with accounting and bookkeeping as a startup business owner.

Starting A New Business Is Very Exciting

Are you considering going public with your startup? This is an exciting time for you as you deal with the common nuances of owning a new business.

You may find that you have a few loose ends to tie up.  You may even find that the process is a bit overwhelming.

Figuring out how to deal with financials is in the back of every startup owner’s mind and not every company has capital to invest at the start.

Invest Money In The Right Places

Understanding where to invest money into your business may be confusing. It’s important to choose a reputable service that helps and advises your startup so you can navigate these complicated waters.  

Companies such as Startup Tandem offer accounting and bookkeeping management in addition to other financial management services. They are very well known and  offer affordable pricing to help new businesses like yours get set up right. Take a look at their service packages here before you continue and request a consultation,

There’s A Lot To Consider When It Comes To Money Matters

As you try to figure out whether or not to hire an accounting service right away, it’s crucial to do your research and consult with different services.  Here are some pointers for finding information on managing financials as a startup:

  • Get connected with other business owners
  • Use groups such as Facebook groups, BNI and more
  • Learn more about how hiring an accountant could help
  • Consult with several businesses and get a few quotes
  • Don’t be afraid to ask questions

Should A Startup Business Use Accounting Services Right Away?

So what we’re getting at is an answer to your question, “should a startup business have an accountant right away?”.  Having an accountant is super helpful for any business or startup and can prevent issues down the line. Most startups expect to hire an accountant at some point if they become successful.  However, hiring one in the beginning may provide some added benefit and contribute to your success.

An Accountant Will Provide A Lot Of Value

An accountant can help a new business owner tremendously and in a number of ways.  A wise man once said that behind every successful business there is an accountant. And you know what? That wise man was exactly right!

Here are a few ways an accountant can help your startup business:

  • Helping you to determine the right business structure
  • Analyzing your business plan and assisting with financials
  • Advising you on financial software such as Quickbooks
  • Keeping things organized and getting your ready for tax season
  • Helping you to save money and identify deductions
  • Assisting you in identifying long term savings and growth opportunities

PRO TIP: Read these financial management tips for early stage startups! We know they’ll be super helpful.

Why Hire An Accountant

One of the most important lessons to understand is the process of how an accountant works in conjunction with a small business owner. Together the two create a clear picture of the business’s goals. 

An entrepreneur may have many ideas and an accountant can help refine these ideas and dreams into a practical business plan with measurable steps. A small business owner will have a lot to manage.  An accountant lessens the load by taking on the vital task of maintaining all financial records. 

Accountants are extremely valuable to a small business. A small business owner would be wise to seek one out and you should too.

Research Accountants And Accounting Services

Research the potential addition and other accounting services. It is crucial that a small business owner takes the time to compare and contrast accountants and accounting services they think could add value. 

Some variables include: 

  • Experience
  • Cost of hiring one
  • Expertise in helping small businesses like yours
  • Location
  • Your current financial situation as a new startup

Make Sure The Accountant Is A Fit

Make sure an account fits your budget and the type of business you are running. For example, someone running a fashion boutique may want someone with experience with managing fashion related business rather than someone with experience managing hotels or restaurants. A brand new company may want someone extremely knowledgeable, but they must also consider that with more knowledge the cost of hiring an accountant increases.  

No matter if a business owner hires an account, they should educate themselves on finances. A business owner should have a basic idea regarding funds and finances. Keeping two or three eyes on financial matters minimizes the chance of mistakes or in some extreme situations may be able to stop criminal activity and save the company.

Conclusion: Should I Have An Accountant If I Have A Startup?

So in short, finding and hiring an accountant is a good idea for new businesses and offers a lot of benefits. Besides saving you money in the long run, having experts manage your financials is always a good idea and provides value to any small business.

We hope we answered your question should I have an accountant if I have a startup and we wish you all the best.