Accounting Services for Startups: Expert Solutions for Growth & Compliance
With the lack of specialized accounting services for startups, Accountinglad offers dedicated accounting services that include all the must-follow practices for startups. Our dedicated services ensure that all the required steps are taken to improve the efficiency, performance, and financial health of startups.
So, let’s see what is included in the startup accounting services to help newly settled businesses.
Our Accounting for Startups Services Offerings
Accountinglad’s startup accounting services include the following types of accounting practices:
Setting Up Business Bank Accounts
Our startup services include the complete management of the business bank accounts to manage business transactions. This involves opening a different business account and setting up an accounting system. It helps in tracking the finances, maintaining the separate legal entity principle, and building trust among investors.
Maintaining Books and Records
We handle the books of accounts of our clients with a holistic approach, where the recording of business transactions is solely and effectively managed by our professionals. It includes using accounting software programs like XERO, Sage, and FreshBooks to optimize and improve the management. You can also refer to our advanced bookkeeping services to optimize and improve financial management.
VAT Registration
Along with the basic accounting services, we also ensure that you take the required VAT initiatives, like successful registration with the government authorities as a productive and manufacturing entity. Moreover, the focus is driven by charging VAT on the taxable income, keeping detailed records of the transactions, and submitting VAT returns on time.
Management of HMRC’s Notification
Handling all the notifications from Her Majesty’s Revenue and Customs (HMRC) is also necessary for newly set-up startups. Neglecting or ignoring this announcement can lead to operational problems. Our accounting services for startups include the handling of all the notifications of the HMRC. Our year-end accounting services include the handling of all the notifications of the HMRC.
Why Keep Your Eyes on Our Accounting Service?
Our accounting for startups is known for its excellence and customer-driven approach. The following features are the standout points for our services:
Our accounting service package for start-ups entertains clients with personalized solutions to counter their accounting management queries. These personalized services are offered in the form of financial guidance, bookkeeping, tax planning, monthly reporting, and declaration filing.
We assign a specialized team of experts to each client for effective and efficient management of accounts. It ensures that a specific team handles the complete management of a particular client’s business, implementing all the necessary practices and steps for driving optimal performance.
All business queries are addressed by a designated team of experts, with special attention given to immediate resolution. We make sure that all the clients’ queries are resolved within 48 hours of raising a complaint.
Accountinglad has served over thousands of clients with their accounting trouble spots in their startups, serving 100% positive results and reviews. This makes our services respectable in the competition.
How Much is the Accounting for Startup Costs?
The accounting for startup costs varies depending on various affecting factors. Flat charging is impossible, as different businesses operate differently. Here are some of the factors that affect the pricing of accounting and bookkeeping services for startups:
Size of the Business
The most prominent factor, the size of the business, decides how much effort will be required in the accounting management of a business. A large-scale business might require more effort due to the increased volume of practices.
Complexity of the Nature of Business
Charges for the complex nature of business will be higher as they make intricate business transactions that may take more time and effort to process.
Accounting Software Used
There are several different accounting software programs on the market, with each having different charges.
Frequently Asked Questions
Ans: The income statement, cash flow statement, and balance sheet are the main financial statements that are prepared by startups. These statements are prepared on a monthly, quarterly, half-yearly, and yearly basis.
Ans: Yes, almost all accounting services utilize accounting software programs to manage the financial data of their clients. It helps in practicing accounting services in an organized manner.
Ans: Some necessary metrics to track for the management of startups are customer acquisition cost, burn rate, revenue growth, and profit margins.
Ans: Consult accounting services when the accounting management becomes complex and starts taking over your efforts in the main core activities of your business.
Ans: Tracking the records is the core accounting practice that is a pillar of accounting methods and management. In simple words, accounting itself is about actively tracking the records to make profitable decisions.