Accounting for Startups
Solutions designed to help your new venture flourish in any economic industry
Opening a business can be an intimidating task, especially for first-timers. Revenue and funding play a crucial role in the early days of your venture, and the wrong financial decision can make or break your business.
That’s why start-ups need sound decision-making based on accurate bookkeeping and reliable accounting data to help protect their investment…but who has time for day-to-day accounting duties during that initial growth period?
Grow your business even faster with a Think Accounting Virtual CFO. Get solid business strategies on financial modeling, securing funding, and much more at a fraction of the cost of hiring a full-time CFO.
With the team at Think Accounting on your side, you can have it all!
Technology-centric accounting solutions
We love tech! That’s why we use the most cutting-edge technology on the market to create robust, imaginative solutions that seamlessly handle all your bookkeeping and accounting needs. From transactional processing and expense tracking to forecasting and AR support, your entire financial picture will be right at your fingertips in customizable, easy-to-read reports.
Numbers without analysis are meaningless, so our team of experts will be on-hand to help make your financial position clearer, so you can make informed critical decisions that will affect your profitability.
Services included with a Think Accounting start-up and technology solution
Every accounting need is different. We’ll take an in-depth look at your organization, learn about your goals, and develop customized, best-fit cloud solutions to help your business get there.
- System setup, training and support
- Create customized bookkeeping workflows
- Cloud bookkeeping and accounting services
- Sales Tax returns across Canada
- Financial Statements
- Business tax returns
- Cash flow management
- Expense tracking
- Payroll processing
- Budgets and financial projections
I’m filling my tax with think accounting for more then 8 years, lol, even then they don’t work under this name. They are very professional and give the right advise to their clients. Now I’ve started my business recently, even now I’ll go to them for all business related work as I trust these people.
Working with Varun and the team at Think Accounting has really allowed me to grow my business. Their patience and expertise is exactly what I needed for my company. I have been working with them for the past few years and they have been able to scale with me as we expanded. I love the fact that they are a technology driven accounting firm that I can work with virtually. I highly recommend to fellow business owners for their bookkeeping and accounting needs.
I’ve used Varun and his team for over 4 years now and he’s an example of professionalism. From advice on share purchases to business incorporation, he’s handled it all. He’s now taken over all my personal finances as well and I’ve recommended him to a dozen friends and family. I can’t recommend the Think Accounting team enough.
Randy B Stuppard
Varun was friendly and knowledgeable about complex IRS forms. Definitely someone I highly recommend if you are looking for accounting services, or want to take your business to the next level. Especially if you want to avoid CRA fines or getting into hot water with the IRS.
We schedule a meeting or phone call to learn all about your business, ask pertinent questions, and listen to your needs.
Create a Customized Plan
After making a thorough assessment of your unique needs, we’ll begin developing a customized action plan with pricing clearly outlined.
We set up the systems and workflows, connect your solution to your accounting apps and connect you with a Think Accounting team member.
With deadlines and deliverables clearly identified on our end so your business is always compliant with CRA. You’ll also receive ongoing proactive strategies from our experts.
Startup & Technology Accounting Solutions in Toronto, Calgary, Vancouver and across Canada
Find out why more and more companies are using Think Accounting for tax-efficient accounting strategies and business advice that’s optimized for growth. Contact us today for a free consultation!
Do you provide customized accounting Services or Solutions based on the nature of business?
Absolutely. Each industry is unique and within each industry, each business is unique. For e.g. E-Commerce Accounting is very different from Creative Agency Accounting. We have separate processes in-house for different industries that we follow to deliver our services. We build our scope of work and deliver on that scope customized to your business, instead of using a cookie-cutter approach.
Do you provide Bookkeeping-only services (that is, if I already have a year-end accountant)?
In rare circumstances, yes. However, majority of the time, we provide a full-service package service that includes Bookkeeping, Financial Statements, Tax Returns, and, if applicable, Payroll.
Do you provide Year-End-only services (that is, if I already have a Bookkeeper)?
Yes, we do. We prefer that you have a professional bookkeeper taking care of your books and bank accounts are reconciled. If you as a business owner do your own bookkeeping, we will first need to review your bookkeeping before giving a fee quote for year-end scope of work.
Do you provide Audited or Reviewed financial statements?
No. We provide Compilation Engagement Financial Statements (previously called NTR or Notice To Reader). For your Audited or Reviewed Financial Statement needs, we are able to connect you with firms in our network.
Which Industries do you work with?
Although we work with most industries, we have specialized knowledge of clients in the E-Commerce, Startups, Medical and Creative Agencies space.
Do you provide Accounts Payable and Accounts Receivable Services?
We provide Accounts Payable services on a monthly frequency basis. We’ll setup a paperless workflow for you to provide all bills to be paid, and set up a payment platform for you. After that, we’ll follow a once-a-month process to schedule bills to be paid for the month.
We do not provide Accounts Receivable (Cash Collection) services.
Do you help with Advanced Tax Planning (Reorganization of Corporate Structure, Estate Planning, etc.)?
Absolutely! It’s one of the ways we add tremendous value to our clients. Our Advanced Tax Planning work is structured as follows:
- Discovery Call – To gather a high-level background and understand your goals and objectives.
- Phase 1 – To assemble all detailed background, tie the tax research to your specific situation, design the solution and steps for your reorganization, and present you with the solution(s).
- Phase 2 – Implementation of Phase 1, which incudes coordination with lawyers and business valuators. We summarize all of the work performed in a detailed Memo for you and your advisors.