Startup Accountants

Accountants for Startup

Helping individuals in initial stages of business startup is what DNS believes in? There are many doubts and queries that persist in the mind of an individual at the time of starting a business. We are experts in fulfilling the requirements of startups and taking up the financial challenges you face in achieving growth. We can proudly say that we helped many business startups in their early stages and successful in eliminating the queries, issues they face while growing and achieving the desired growth and profitability.

Our startup accountants are always ready to provide the support required for startups and assist you in giving answers to questions on business expenses to dealing with HMRC and Companies House.

Our Business Startup Services

When it comes to providing business startup services, DNS Accountants play a role of a trusted adviser and advice you on various aspects of business -

• Establish a business plan
• Prepare budgets and forecasts
• Assess the legal structure for your business
• Analyze and prepare management information
• Incorporation of companies
• Provide help with payroll and VAT returns

Business Startup Accountants

• Suggest a range of options for your business – management, finances and various other aspects.
• Provide clarity on the financial, commercial and operational issues of the company.
• Assess the key causes behind the current predicament and identify the strategic remedy that can be adopted.
• Provide help to all stakeholders regarding plans, which are in the interests of the company; including actions and deliverable.

When should start-ups think about consulting one?

People who are thinking of starting a new business should try talking to an accountant when developing the idea for the business. It's generally a good idea to hire startup consultants to help you with specific aspect of your business. Startup accountants can help you with many aspects in relation to raising finance, business plans (financial forecast), regulatory issues pertaining to address and various others.

What things should startups consider when hiring an accountant?

Most business owners are looking towards avenues to save money. Always look for a firm that is similar in certain aspects to your business as they'll be more understanding of the issues and problems you will face. Try to prefer startup accountants who have experience advising clients in the same segment as your business. You also need to consider their goodwill in view of finance providers and shareholders.

You must also consider other aspects while hiring a startup accountant:

• Cash flow analysis and Risk management
• Filing returns and making submissions
• Affordability and the in-house approach
• How bad are things on the compliance side?
• Are the books already a mess?

Is there aid or funding out there for startups struggling to afford accounting services?

Many ICAEW firms in the first year of the service give a fixed fee quote to a new business. There are core business services used by many startups, such as annual accounts preparation, completion of tax returns, advising of tax liabilities and payment dates. Few Limited companies prefer clients to pay the anticipated fee each month, while others bill it after the first year of completion.

Many firms now ask clients to keep their financial records on accounting software accessed through the cloud. This enables the firm to check the client’s records.

What are some common mistakes you see startups making with regard to accounting?

The first mistake the startups make is putting their accounting services aside until they have the time, because of which when they start writing up the records, it becomes difficult to remember what the transaction referred to.

The second mistake they make is mixing personal and business transactions as they don't open a separate business bank account. This creates unnecessary work of separating business transactions from personal ones.

Thirdly, leaving the accounting aspects until the deadline for filing self-assessment returns approaches when the accountant is bust at the most.

Services from expert accountants for startups

We provide complete accountancy and bookkeeping services for startups. With our Premium package, you’ll get your own proactive accountancy team who is always on hand to ensure your business runs smoothly. We also offer a range of various services like:

Tax efficiency and business recommendations

Representation in the event of an HMRC investigation

Preparation and submission of your tax return

Perform routine bookkeeping

Startup Accountants FAQs

What is the role of accounting in a start-up?

Every Startup needs to provide information regarding its financial estimates to banks, investors or lenders to obtain funds in return from them. A Business startup accountant  helps the business make a business plan that includes estimated monthly expenditure, economic forecast, and the projected growth rate.

Is there a need for Leading Accounting Software?-

The need for accounting software depends on the company, but with the help of the leading accounting software, you can reduce the time it takes to – provide quotes, chase payments, invoices to customers and monitor outstanding balances.