Small Business Accounting
Transform your startup and small business aspirations into tangible value through our dedicated Small Business Accounting & Startup Business Consulting services.
Strategic insights
Gain comprehensive insights into financial management and reach your business objectives.
Cost Savings
Reduce expenses on recruiting and training internal staff by outsourcing accounting services.
Improved Efficiency
Enhance efficiency by automating accounting tasks through access to advanced software and tools.
Small Business Accounting Services - AccounTaxBookkeepers
In startups and micro-businesses, where one person often runs the entire operation, accounting and bookkeeping can sometimes be overlooked. Small business accounting may seem insignificant, but regardless of the company’s size, maintaining accurate accounts provides a clear and reliable picture of its financial health. It highlights areas of success and areas needing improvement over specific periods. While it can be burdensome, proper accounting is crucial for small businesses aiming to grow into medium-sized enterprises and beyond.
Many business owners, with some understanding of bookkeeping, attempt to manage all accounting tasks themselves. This includes maintaining accurate records, invoicing clients, monitoring cash flow, preparing and paying taxes, and generating financial statements adhering to accounting principles and standard practices. However, this leaves little time for focusing on other essential business activities.
Our Small Business Accounting Services offer startup and small business owners the opportunity to save both time and costs.
Our Small Business Accounting Services offer startup and small business owners the opportunity to save both time and costs. Our tailored accounting services for small businesses encompass a range of essential functions, including bookkeeping, payroll management, management reporting, tax preparation, business analysis, accounts receivable and payable management, and virtual CFO services.
We understand that for small businesses and startups, investing heavily in non-revenue generating activities like accounting and compliance may not be feasible. Therefore, we adopt a cost-value approach in our small business accounting services, ensuring that our clients receive maximum benefit for their investment.
Our Process Flow Of Accounting Services For Small Business
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Brief Business Analysis
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Accounts Payable
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Accounts Receivable
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Management Reporting
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Other Accounting Services
Initially, we conduct a concise business analysis, which involves:
- Grasping the existing business processes and organizational structure.
- Brief industry analysis to identify standard industry practices.
- Evaluating the current system for reporting business activities.
- Implementing necessary adjustments to streamline data flow and activity reporting.
- Standardizing data collection forms for different activities.
- Determining the essential management reports required for decision-making and compliance purposes.
Selecting cost-effective accounting package and tools
Following the business analysis, we identify the most cost-effective accounting package and third-party apps/tools available in the market. These solutions:
- Fulfill all reporting and analysis needs of the management.
- Align with standard industry practices.
- Adhere to regulatory requirements.
Preparing brief process flow
We assist management in preparing a concise business process flow, such as a RASCI Matrix, which serves as a basic version of a Standard Operating Procedure (SOP). This aids management in:
- Identifying the frequency and starting point for each business process.
- Understanding the sequence of processes, including predecessor and subsequent processes, for improved planning and time management.
- Allocating responsibilities and defining job descriptions.
- Establishing a critical Event Calendar.
Guiding process owners on process flow and documentation
- Ultimately, we provide training and guidance to our clients' staff and business owners to ensure the smooth implementation of our recommended business processes. This includes utilizing standard documents for recording business process activities and maximizing the effectiveness of the system
- Maintaining general ledgers.
- Handling monthly accruals and posting closing entries.
- Making inter-company adjustment entries.
- Managing travel and entertainment expense accounting.
- Maintaining fixed asset registers, including depreciation, asset improvements, and asset purchases and disposals.
Who We Serve
Independent stores
Software & Technology
Professional Services
Wholesalers
Online Retailers
