What do accounting firms contribute to startups?
Table of contents
The right accounting firm can contribute a lot to a startup.
Quantitative Contributions:
-
Bookkeeping: investors require quarterly reporting, so staying on top of this on a regular basis is key.
-
Tax Compliance: there’s a myriad of filings that a startup needs to stay on top of. The right accounting partner will help guide you.
-
Financial Modeling: this perhaps your most important tool for wooing potential investors. A CFO can help you build out a model that will plot your plan.
-
Tiered Assistance: it’s important to have access to all three levels of expertise: Staff Accountant, Controller, and CFO.
Qualitative Contributions:
-
Best Practices: the right accounting & finance partner will have industry experience and can help you avoid the pitfalls that others have encountered. They can tell if you’re on track, if you’re “normal” compared to other startups, and recommend the best way to do things. You don’t have to reinvent the wheel.
-
Relationships: with VCs. And angel investors. And lawyers. And bankers. And developers. And recruiters. And wealth managers. It matters.
Table of contents
Also read
Recent questions
Top viewed questions
- What happens if the IRS audits me and I do not have the receipt for an expense (assuming it was a legitimate expense)?
- How should convertible note financing be handled on the balance sheet?
- How do startups account for equity and fundraising on the Balance Sheet?
- For startups incorporating in Delaware, what firms are good registered agents to use?
- 2025 Founder Salaries by Stage