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Developing KPIs for accounting functions allows tech startups to identify areas for improvement and set clear targets for financial performance. Keeping good records also means that your life will be easier when it comes to quarterly and annual income taxes for your business. And last but not least, with confident knowledge of your books, you\u2019ll be armed to make good financial decisions on behalf of your startup. We\u2019ve supported many growing Biotech startups, fully managing their financial operations. If you are running a SaaS startup, and you sell a 12-month contract to a client for $120,000 in January, on a cash basis you record $120,000 and that\u2019s it. You don\u2019t get any more revenue from that client for the rest of the year.<\/p>\n<\/p>\n
Other aspects of business accounting you need to understand as a startup owner are invoicing, billing, expense tracking, tax compliance, and financial planning. Each of these accounting activities is crucial to helping you understand the financial operation of your business. We do more than just the day-to-day bookkeeping and bookkeeping services that allow you to focus on running your business. Kristen Slavin is a CPA with 16 years of experience, specializing in accounting, bookkeeping, and tax services for small businesses. A member of the CPA Association of BC, she also holds a Master\u2019s Degree in Business Administration from Simon Fraser University. In her spare time, Kristen enjoys camping, hiking, and road tripping with her husband and two children.<\/p>\n<\/p>\n