Accountant for Entrepreneurs
When you are running a start-up business, one thing which often gets left behind is the accounting. For some this is a conscious decision based on fear, “what if my company doesn’t make it?” For others it’s merely that being busy with other areas of the business takes over, and accounting gets forgotten. We’ve worked with a lot of companies that have trusted themselves to “do it at a later time,” but the fact is, it always seems to get neglected or done incorrectly. In these situations, we often have to go back to redo their work and re-file taxes, resulting in a greater cost for the company than if they had just outsourced their accounting from the start.
As an early-stage entrepreneur, you may try to save money by choosing to manage your own accounting and finances. If you’re an accountant this makes sense. If not, this could be a serious mistake that negatively impacts the success of your business. You could hire a full time accountant, but the better and more cost-effective plan is to save on staffing costs by outsourcing your accounting services.
Why Use an Accountant for a Start-up?
Here’s an abridged list of services that accountants provide when you’re:
| Starting up: | Up and running: | Growing your business: |
| Business licenses | Month-end accounting | Pricing |
| Incorporation filings | GAAP financial statements | Cash flow analysis |
| System implementations | Payroll | Audit support and preparation |
| Policies and procedures | AR/AP (accounts payable/accounts receivable) | Financial forecasting |
| Expense tracking | Tax preparation | Budget creation |
| Financial planning | Financial reports | Benefits to Outsourcing Your Accounting Function |
| Marketing | Fixed assets tracking | IPOs |
Our team does much more than just sit around tallying numbers. We can give you much-needed support in many areas of your business while also allowing you to:
- Focus on your core business. Perhaps the most important reason to consider us is so that you and your early employees can focus on building your product, developing relationships, creating partnerships, and marketing and sales.
- Access high-quality financial information. When you’re trying to raise equity funds or obtain debt or reach out to potential investors, you need to have the kind of high-quality financial information that our team of experts can provide.
- Have a valued business partner. Outsourcing your accounting function also gives you the advantage of having another trusted business partner. We have extensive expertise working with early stage start-ups.
Essentially, if you think your start-up may be in need of accounting support, it probably is! We at Insight would be more than happy to help. Book a time to talk to one of our experienced accountants.