ACCOUNTSPRO

Accounting for Startups

We provide accounting for startups, Fractional CFO services, Tax services, EIS / SEIS support and R&D Tax Credit support to pre-seed, seed stage start-ups through to series A and beyond.

Our extensive startup experience is one of the reasons why start-ups choose us instead of a larger firm where their employees do not have any ‘hands on’ startup experience as a founder or employee. This critical distinction makes all the difference when it comes to imparting advice to our clients.

Entrepreneurs and Start-ups work with us as we speak the same language as them. This enables us to provide an unrivalled level of understanding of their business when it comes to delivering accounting for startups.

Wherever you are the early stages of building a business or are going through a phase of growth our aim is to help you make better informed business decisions with greater confidence. This ensures that the business fulfils its potential and you achieve your personal goals. We are always on-hand to give you the best possible guidance. Ask us a question and we’ll give you the most appropriate advice.

Get in touch to find out more about our accounting for startups package today.

Jonathan Levy

Director, AccountsPro: Accounting for Startups

Accounting for Startups

We help at every stage of growth

Accounting support is crucial because it provides a clear financial picture of your company and gives you the tools you need to choose growth strategies and avoid potential pitfalls.

Pre-Seed Startups

• Incorporation
• Create or review business plan
• Financial modelling
• SEIS / EIS Investor readiness
• Create Shareholders agreement
• Investment Deck Review
• Setup initial finance systems
• Accounting for startups

Seed Stage Start-ups

• Develop plan & growth strategy
• Startup accounting essentials
• Implement Cloud Automation
• Make R&D Tax Claims
• Setup Payroll & Pension
• VAT submissions
• Prepare Cashflow modelling
• Develop Financial KPIs
• Accounting for startups

Scale-ups

• Advanced Financial Modelling
• Hiring Business & Technology teams
• International Expansion support
• Advice on equity & debt rounds
• Advice on exit strategy
• Xero training for finance staff
• FD and CFO Interim Support
• Patent Box
• Accounting for startups

Don't just take our word for it!

Dependable support for your start-up

Startup Accounting Services

Accounting for Startups

Why Choose AccountsPro?

Accounting for Startups

Like most of our competitors, we provide accounting for startups. However, we offer more than just accounting for startups. We become a valuable part of your team that helps to grow your business at every level.

From fractional CFO support, making R&D tax claims, preparing startups for investment. cashflow modelling, budgeting, cloud automation through to support for international expansion.

To find out more about our startup accounting services, please complete the contact form below. Alternatively, you can email us at: hello@accountspro.co.uk or call us on 020 7193 8798

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17 Kings Drive, London, HA8 8ED
+44 207 193 8798
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    Accounting for Startups

    Frequently Asked Questions

    Accounting for Startups: What You Need to Know
    Our Fees

    We provide a monthly package of accounting services that is right for your startup. We detail everything that is included in our accounting for startups package.

    We don’t compete with firms that provide ‘call-centre’ accounting for startups from £50. You actually get very little for £50 a month. We provide you with access to an accountant that you can reach whenever you need them. We do not outsource your private and confidential data to countries such as India, China or the Philippines. We keep everything in-house for your safety.

    We look to build relationships with our clients for the long term where we support our clients in many areas beyond accounting advice for startups. This is not something you will find with ‘call centre’ or ‘account manager’ led accounting firm.

    Yes we do. We believe in getting to know you, your business and your requirements before offering our services. Please call, email or fill in the enquiry form to book a free consultation.

    Importance of Accounting for Start-ups

    Financial Health:

    Accounting provides a clear picture of a startup’s financial health. It helps business owners understand their cash flow, expenses, and revenues, essential for making informed decisions.

    Budget Management:

    Accounting helps in creating and managing budgets. By analysing past expenditure and income data, startups can predict future financial needs and adjust budgets accordingly.

    Investor Relations:

    Investors and shareholders need accurate, up-to-date financial information to make informed decisions. Good accounting practices ensure transparency and trust, fostering healthy investor relationships.

    Compliance:

    Startups are subject to various financial regulations and tax laws. Proper accounting ensures that a startup is compliant with these rules, thereby avoiding potential fines or legal issues.

    Decision Making:

    Accounting data aids strategic decision making. It helps identify profitable business lines, cost-cutting opportunities, and areas that need more investment.

    Cash Flow Management:

    Startups often operate under tight cash conditions. Accounting helps in managing cash flow, ensuring the company has enough to cover immediate and future costs.

    Performance Measurement:

    Accounting systems provide key performance indicators (KPIs) like profitability ratios, liquidity ratios, and more. These metrics help measure business performance over time, identify trends, and set future goals.

    Financial Reporting:

    Regular financial reports, a product of good accounting practices, provide an ongoing, accurate view of a company’s financial state. This information is crucial for managers, investors, and other stakeholders.

    The role of an Accountant in a start-up business

    In the fast-paced and competitive world of startups, an accountant plays an instrumental role, acting as a linchpin for financial management and business growth. More than merely managing books or preparing taxes, an accountant’s role in a startup is multifaceted, covering everything from financial advice and forecasting to strategic planning and compliance.

    Financial Management

    One of the primary roles of an accountant in a startup is to manage financial operations. They ensure that all financial transactions are accurately recorded, monitor cash flow, and maintain up-to-date financial records. This task includes managing accounts payable and receivable, processing payroll, and overseeing bank reconciliations. By effectively managing the company’s finances, an accountant can provide the startup with a clear picture of its financial health, allowing for better business decision-making.

    Strategic Planning and Advisory Services

    Accountants also serve as strategic advisors to startups, providing insights into business performance, growth opportunities, and potential risks. They can assist in budgeting, financial forecasting, and setting key performance indicators (KPIs) to guide business strategy and facilitate growth. Furthermore, they can offer advice on cost reduction, revenue enhancement, and profitability improvement strategies, contributing to the startup’s long-term success.

    Compliance and Regulatory Understanding

    Every startup operating in the UK must comply with several legal and regulatory requirements. These can range from paying the correct amount of corporation tax and VAT to ensuring that all financial statements and annual accounts comply with the Companies Act 2006. An accountant is crucial in ensuring these legal obligations are met, thereby safeguarding the startup from potential fines and penalties.

    Accountants can also guide startups through complex tax regulations, identifying tax relief opportunities, such as R&D tax credits or EIS/SEIS schemes, and ensuring accurate and timely tax filing.

    Cash Flow Management

    Cash flow management is particularly crucial for startups, where funds are often tight. An accountant can play an essential role in managing cash flow, ensuring that the business has enough money to cover its operational costs while investing in growth. They can also identify any potential cash flow issues, allowing the startup to take preventative measures before a problem becomes a crisis.

    Fundraising and Financial Reporting

    When it comes to raising funds, whether it’s a bank loan, venture capital, or government grants, a startup will need to present its financial position clearly and convincingly. An accountant can assist in preparing the necessary financial reports and business plans, providing potential investors with a clear picture of the startup’s financial health and future prospects.

    Furthermore, after securing funding, investors often require regular financial reports to stay updated on their investment’s performance. Accountants play a pivotal role in generating these reports, ensuring the startup maintains good relationships with its investors.

    Business Structuring

    Accountants can provide invaluable advice on the most suitable business structure for a startup. Whether it’s a sole proprietorship, partnership, or limited company, the structure chosen can have significant tax and legal implications. Accountants can provide the necessary guidance to make the best decision for the startup.

    Risk Management

    Finally, an accountant can help identify potential financial risks and devise strategies to mitigate them. Whether it’s managing credit risk with customers, evaluating potential financial impacts of a new business venture, or assessing financial sustainability, an accountant’s insights are invaluable.

    Summary

    The role of an accountant in a startup goes beyond number crunching. They serve as financial advisors, strategic partners, and regulatory guides. By taking on these roles, accountants provide startups with the financial expertise and guidance necessary to navigate the challenges of the business world, helping them to grow and thrive in a competitive environment.

    Beyond, outsourced accounting for startups, we provide fractional  CFO support to founders that are looking for someone to navigate the finance function on a part time basis. We also provide R&D tax credit support, Fundraising Support where we provide EIS / SEIS assurances. For early stage startups, we build financial models that they can use for fundraising and provide accounting tips for startups that are just starting out.

    Accounting for Startups – Best Loved Top 20 Accounting Firm

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