If you are just starting up your tech company, you may be wondering if an accounting firm is a wise investment or an unnecessary overhead. Although you many save some money you will lose a lot of time by trying to manage and maintain the bookkeeping yourself, the problem that arises is that you may be doing more harm than good. In the vast majority of cases, when clients have attempted their own bookkeeping the accounts have wrong to the extent that it would have been cheaper to hire an accountant in the first place. At Brady Associates, we have a team of trained staff who can manage your accounts on a monthly basis and ensure that you are getting the correct financial information so that you as a business owners can spend time working on your business and not in your business.
Here is a look at why you need a reliable accountant for your tech startup:
Properly Managing Your Funding
After raising funding, you need to be sure that you spend this money wisely. It can be very easy to burn through your first rounds funding and wonder exactly where all the money has gone. With an accountant, we can provide you with monthly reports showing how you’ve been spending and a breakdown of all your overheads.
Handling Increased Expenses
As your business grows, so will your overheads. There’s a reason why one in four FTSE 100 CEOs are accountants and it’s not because they’re more intelligent, hard working or talented than the rest of us but because accountants understand and know how to talk about the financial information. Brady & Associates will provide you with some of this knowledge by giving including monthly P&L, Balance Sheet including your cash flow and burn.
Assistance with Growing and Running Your Business
Our firm can help offer you a wide variety of services that will grow with your business. This includes early stage work, such as business licenses, incorporation filings, expense tracking and financial planning, tax planning and preparation that will help you to optimize your business. As your business grows, we create a budget to optimize your cash flow, get your accurate and detailed cash flow analysis reports, and offer audit support. These are just a few of the services that we can offer your tech startup.
Outsourcing your accounting business can be a wise investment for your business. This allows you to focus on growing your business while someone else deals with the nitty-gritty financials. This also gives you financial information that you may not have known otherwise, which can be very beneficial to the growth of your business. Lastly, an outside accounting firm can be an essential partner giving you valuable advice that is important to increase your chances of being successful in the business.
Brady Associates only has the best members on their team. We offer a variety of different services that will truly meet the individual needs for you and your business. Contact us today to learn more about these services and our numerous others that are geared towards servicing your expanding company.