What is Accounting ?
Accounting for startups & SME
Accounting is an integral part of any company and more so for start up company. Accounting for startups entails retaining correct records of financial transactions and inspecting your finances to identify opportunities for growth and improvement. It includes information about:
➔ Bank Account
➔ Business Expenses
➔ Identify Vendors
➔ Customer’s Data
➔ Bookkeeping
➔ Set Up Payroll/HR System
➔ Tax Obligations
➔ Evaluate & improvise financial health regularly
ACCOUNTING FOR SME
By having a complete report of income and expenses that
occurs in the business and accurately extracting financial
information from business transactions can help small business
owners to track and manage their money effectively especially
during the early stages.
You can also consider outsourcing the accounting services to other professional companies. Business owners can benefit by hiring a third party to complete the accounting & finance function of the business includes:
➔ Less costly than hiring in-house accountant
➔ Saves time and money to recruit & train
➔ Relieves from paying payroll taxes, salary, insurance, etc
