Is there a good accounting firm for startups?

Technical debt is incurred when you’re working very fast to develop a prototype or working model, and you’re not building everything perfectly. Accounting debt is a similar concept – startups can often ignore creating their accounting infrastructure to focus on their technology or customers. But eventually you’ll need to set up your accounting systems, and the longer you wait, the more you’ll have to go back and fix, just like technical debt. The good news is that by taking some simple steps early, founders can avoid accumulating a lot of accounting debt. RSM provides audit, tax, consulting, outsourcing, and technology, management consulting and wealth management to clients around the world.

Your Graphite team will be made up of experienced CFOs, Controllers, and Accountants who understand your business and work with you to develop bookkeeping & accounting processes that fit your needs. As you’ll find with some of the firms in this review, billing methods can vary beyond a monthly fee, such as an hourly, pay-for-performance fee, or rates based on the number of monthly transactions. In all cases, it’s important to crunch the numbers to see what rate or form of billing makes sense for your business. If your budget is a concern, you can consider low-cost options, such as 1-800Accountant or Bench Accounting. However, if you’re looking for the best all-around accounting firm, you can’t go wrong with inDinero for its comprehensive offering, excellent customer support, and reasonable pricing. Drafting the right financial pro for your team can make all the difference, turning complex plays into strategic wins for your startup.

Specialized Startup CPA Services

From outdoor gear to indoor ski facilities, snow and ice control to chimney sweeping services, discover how these winter-focused franchises offer stability in all seasons. Paro uses a multi-step vetting process to review the applications they receive and build a database of thousands of CPAs, financial analysts, internal auditors, finance vice presidents, and bookkeepers. Many of Paro’s freelancers have worked at highly respected companies such as Deloitte, Ernst and Young, KPMG, and the IRS. Once your account is set up, you have secure access to your assigned accountant via messaging, phone, email, or chat. Also, 1-800Accountant offers every business a free tax savings consultation with an expert.

• RSM provides audit, tax, consulting, outsourcing, and technology, management consulting and wealth management to clients around the world.
• Elliott Davis Decosimo is also one of the top 50 accounting firms in the U.S. based on revenues, with more than 750 professionals.
• You should hire an accountant when the tracking, analysis and reporting of all the financial information related to your business are too complicated or overwhelming for you.
• Some of the clients it serves are high net worth individuals, startup businesses, large enterprises, government contractors, and employee benefit plan sponsors.

It also offers consulting services related to human resources and outsourcing. KPMG is the third-largest accounting firm in the world, serving companies with international interests. Headquartered in the Netherlands, KPMG offers unparalleled accounting, consulting, tax and legal, financial advisory, and assurance services. Deloitte is a network of independent firms worldwide wherein more than 300,000 professionals work to provide various kinds of accounting services to clients, from auditing to financial advisory to taxation services. This firm offers a variety of bookkeeping and accounting services, including accrual basis accounting.

Startup Accounting: To Go It Alone Or Hire A Professional?

CPAs are legally allowed to provide tax services above and beyond what other accounting professionals can do. Anchin is a full-service firm with 400 employees and 56 partners, who provide a wide range of assurance, tax best accounting firms for startups and advisory services. They specialize in accounting and auditing; tax planning and compliance; tax credits and incentives; management and succession advisory; and growth, transition and exit strategies consulting.

Marks Paneth is one of the top 50 largest accounting firms in the U.S. and the top 10 in the Mid-Atlantic Region, according to Accounting Today. Baker Tilly was established during the height of the Great Depression in Waterloo, Wisconsin. In 2021, it celebrated its 90th anniversary, making it one of the most respected accounting and tax firms in the U.S. In fact, it is one of the top ten leading advisory, tax, and assurance firms dedicated to building valuable relationships with clients in the country. EY offers a broad range of business consulting, tax planning and tax accounting, legal services, and digital transformation programs.

Call Center Onboarding Checklist for Small Businesses

By taking the time to find the right accounting firm, you can ensure that your business will always have the support it needs to stay financially healthy. These services assist with bookkeeping, financial reporting, and tax compliance. When you outsource bookkeeping and accounting, you’re entrusting your financial information to professionals who have extensive experience handling sensitive data. In general, however, accounting software for startups typically costs between $50 and $200 per month.

• As a result, you may end up paying for services that you don’t need or using services that aren’t well suited to your business.
• However, with the current economic slowdown, some startups that may experience slower than projected growth are choosing to “re-outsource” their financials.
• If you’re asking yourself these questions, it’s time to start working with a professional.
• Although it’s a virtual service, Bench personalizes its clients’ experiences by assigning them a dedicated team of in-house professionals.
• Find a startup CPA who has extensive experience working with businesses in your vertical.
• Your search will primarily depend on your budget, the volume and type of transactions that need to be performed, and the bookkeeping methods already in place.
• In the technology and biotech industries, early-stage companies that are playing for the big outcomes need to use GAAP accounting.

We’ve put together this calculator to help you estimate the cost of preparing your startup’s return. Our experts can help you find the right solution for your budget and business needs. Kruze knows R&D, SAFE Notes, SaaS, and venture debt and they gave us valuable advice. Kruze helped us all the way through our journey – from our seed round to our A to our eventual acquisition by a public company. I personally can tell you, they’ve done a great job for our companies, including Calm.com.

Who Should Use Accounting Firms?

With some firms, you can then layer on services or choose a mid-tier package that provides for cash flow management, accounts payable and receivable, and expense tracking for $300 to $500 a month. I run Kruze Consulting, one of the top accounting firms that works exclusively with startups. We know what high-growth founders need from their books, taxes, financial projections and accounting team. For the first, most VC-backed startups will go through complicated financial due diligence during a funding round or during an M&A exit to a large technology player. Later-stage VCs are increasingly hiring outsourced due diligence experts – including large accounting firms. The team at a huge accounting firm that is investigating your startup’s financials will have pages upon pages of questions.

For businesses on a growth track, the cost of not outsourcing bookkeeping and accounting can be detrimental to the business. This happens when performing the functions in-house interferes with essential business growth activities. Every hour you spend on bookkeeping or accounting is one less hour spent marketing your business, building client relationships, and other business development activities.

A good CFO can provide tax assistance, outsourced accounting services, and most importantly, peace of mind. Bookkeeping and startup accounting can seem like daunting tasks, but with the right service, they can be quick and easy. In addition, the firm offers payroll services, which can help startups save time and money by outsourcing their payroll processing.

• Selecting an accountant is akin to drafting a key player onto your startup team; they need to have the skills and agility to keep the financial play running smoothly.
• When you’re running a startup, some financial tasks can substantially impact your operations.
• There are a lot of bookkeeping services out there, but not all of them are created equal.
• Plante Moran is one of the U.S. largest certified public accounting, tax, consulting and wealth management firms that intersects personal service and industry expertise.
• It can also conduct an audit to organize your processes and controls to ensure records are properly kept with taxation services to help you prepare tax returns and advise you on how to reduce your tax liability.