Startup Accountants

That’s why, when you choose Braant as your accounting partner, who are expert London based accountants for startups, we’ll keep a close eye on your accounting needs and cash flow, and also help you explore all your funding and investment possibilities. We’ll ensure you’re properly registered with HMRC and Companies House with the right legal structure for your business. We can also provide an interim finance director or chief finance officer to help you through the critical early weeks and months of your startup.

Having one of Braant’s experienced accountancy team members working alongside you will ensure that you will have a clear picture of the day to day, month on month growing success of your start up. As an example, they can provide timely cash flow forecasts to quickly pin-point challenging periods, and productivity reports to highlight areas for improvement. A Braant accountant will maintain all aspects of accountancy such as the bookkeeping, payroll, VAT returns and annual filings, which will free up time for you to focus on developing your new business.

What makes accounting for startups unique?

Implementing the most appropriate accounting system from the beginning of your start up is essential. This avoids inaccurate and ambiguous accounts that will hinder you being able to make informed decisions. Choosing the wrong accounting system can result in a costly and timely system transition. 

There are numerous accounting systems to consider for your startup, but it is essential to choose one that is best suited to the type of business you have.

A PR firm or marketing agency for example, will likely require project accounting to account time, revenue and expenses against each client and/or project.  Using an accounting system that accommodates project accounting provides the business with profitability, productively and WIP (Work In Progress) reports.

A construction company will certainly require a system that can handle areas of fixed assets, work in progress, CIS and VAT reverse charge. 

A recruitment agency specialising in temporary recruitment will need a payroll system or engage a specialist payroll bureau (Braant is one) to handle the payroll of temporary workers.  

Whatever sector your start up is in Braant can advise on the most appropriate accounting system.

Why is it important to have an accountant early on?

The early days of running a new company can be very busy, but it is important to have a good accountant onboard as soon as you incorporate the company so they can work with you to advise and implement the appropriate processes and systems from day one. It is also essential you have a good accounting system that properly categorises financial records to provide clear reports and budgets.

An accountant can also ensure you:

Pay the correct taxes

From the first day of trading, it is essential to maintain accurate records of all financial transactions as these will be needed for tax and filing purposes. Having a proper accounting system will ensure that you stay well-organised and will save you a great deal of time and money. Your accountant will ensure that your tax returns are completed accurately and presented in time so you avoid penalties.  

Plan for the future

As well as analysing your company’s financial performance, your accountant will be able to create financial projections. This will be invaluable if you need capital in order to expand your operation. Expertly prepared financial statements and projections will help convince lenders or investors that your business is doing well and that it will be a sound investment.

Your business is compliant

Experienced accountants are familiar with the GAAP system and using a GAAP compliant accounting system as the firm foundations for future growth – to any size.  Should you need to seek a business loan, line of credit, or raise venture capital in the future, your financial reports will need to be maintained on a GAAP compliant system.  

What can an accountant help your startup with?

An accountant can help you make all the business structural decisions that will set up your startup for success. All you need is a professional, efficient and effective accountancy service that is tailored to the needs of your new company, why not get in touch with us today?