Terp Toolkit: Accounting for Your Startup

When launching a business, often there are a variety of start-up costs to track. Being organized on the front-end with your startup’s finances will pay off in the long-run.

accounting_webThere are several tools at a variety of price points that will help you keep your financial records. Here are some startup-friendly resources:

  •      Quickbooks – Widely used accounting tool;  starts at $10/month
  •      Wave – Up and coming accounting tool with strong user interface; free
  •      Freshbooks – Accounting tool with mobile functionality;  starts at $9.95/month
  •      Zoho Books – Accounting tool that allows for unlimited users; one pricing plan $24/month
  •      Less Accounting – Less features than other tools but good analytics; starts at $20/month

For some of the pros and cons of each of these tools check out Top 5 Accounting Tools for Freelancers and Small Businesses.

Once your business progresses and you add a team of employees and/or purchase assets that will depreciate, you may want to invest in an accountant or accounting firm to manage your books and prepare your returns.

12.14.13.MoneySavingTipsTerp Toolkit highlights resources for starting your business. Stay tuned for our next Terp Toolkit, which will cover funding sources for your startup.

Interested in additional business guidance or startup resources? Come to Pitch Dingman on Fridays for feedback from our experienced EIRs, or consider applying to our incubator, Fearless Founders.

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