Accounting and tax services for startups
Accounting and tax services for startups
Startups are one of our specialties here at Webtax Online and we support thousands of startups every year. Welcome to the world of managing your business. Whether you have a focus, a set business model, or you intend to conquer the world of business, we will help you every step of the way. Start your business with Webtax Online’s expert, accounting for small business owners and startups.
Business models evolve over time, sometimes due to changes in the market and sometimes due to the advent of technology. As exciting new trends emerge, we at Webtax Online keep a close eye on the startup ecosystem and prepare your business for the next level of success with advanced technology tools, real business experience, and flexible service offerings, including bookkeeping and accounting.
Whether it’s advice on business structure, CRA registration, setting up a limited company, or getting a business bank account, Webtax Online can help you with all of these and more. We have packages to suit your needs and budget. We have trusted professional accountants offering online and in-person services.
What services do startups need?
All start-up services must ensure that running your business is as cost and tax efficient as possible.
1. Establishment of companies
2. Tax registration
3. Establishment of a company bank account
4. Accounting
5. Payroll book
6. Specialized accountant
7. Presentation of VAT
8. Self-assessment of the tax return
9. Archiving of financial statements
What is Startup Accounting?
Accounting for small business owners’ startupsis essentially the same as accounting for any business, but with a greater understanding and bias towards first-time business owners and support for growth from a standstill. Initial accounting records your business income and expenses, calculates your tax obligations, and prepares and files business and/or personal income tax returns.
Do startups need accountants?
You may have your business plan out of the way, you may have all your business cards printed, and you may already have clients, but your business will still require accounting support from the start. Get the support you need from Webtax Online and our initial accounting solution.
Getting a good accountant for your new business should be a decision you make early. As? Having a start-up accountant from day one, or even while you’re still planning your new business plan, will give you the support and advice you need early on.
If you are trying to reach out to potential investors or raise funds, you will need to have high-quality financial statements that are essential for tax reporting and providing tax updates. Professional accountants can prepare accurate financial statements that attract investment. By hiring an accounting firm, you can focus on your core business activities, which include building your product, developing relationships, building partnerships, marketing and sales.
When you’re just starting out, you know how important it is to stay lean and save money. In the early stages, startups struggle to get started, stretching limited funds and cutting costs where possible. Here at Webtax Online, we understand the challenges startups face and how important it is to acquire customers and pay expenses as quickly as possible. Our team of budding accounting experts will work closely with you to make sure you don’t fall into any of the common pitfalls and dangers that come with setting up.
How can Webtax Online help your startup?
Our dedicated team of business experts offers a full range of services for all your accounting, tax, and start-up needs. We seamlessly integrate with your favorite systems, so all you have to do is review and approve. And it is done. Our startup solutions vary depending on the stage your business is at.
Looking for small business bookkeeping services near me for startups? Get in touch with us for business accounting services for startups.
Why choose Webtax Online for your start-up business?
We want to help startups in their first steps in the business world and we will support you throughout their journey. We offer a range of services and benefits to those starting out in business and offer unrivaled expertise in business accounting.
Accounting work or systems configuration
Webtax Online can function as a fully functioning in-house finance department or provide specific bookkeeping or accounting functions to supplement existing resources. We also provide advice and assistance with accounting system integration and workflow setup.
Custom reports and analyses
The accounting system is the financial backbone of your business. Once configured, the system should capture critical data that can provide insight into your startup’s financial and operational performance. We can work with you to develop and analyze customized reports that you can evaluate and track your startup’s progress and growth. Our team can also assist with advanced forecasting and budgeting using data and analytics derived from these reports.
Financial modeling
Our teams of experts know the latest and most sophisticated formats to create accurate financial models using the right formulas. Models allow you to consider possible outcomes based on ongoing and necessary adjustments to financial data and/or business scenarios.
Unrivaled accuracy
We sync with the software you already use, like Xero and QuickBooks, to give you a complete and always up-to-date financial picture. No need to switch between apps. And at the end of the month, you’ll receive financial reports based on your most important metrics.
Long-term planning
Whether you’re a fledgling tech startup or venture capital-backed, our services will grow with you. We offer expert advice on investment and financing opportunities through our partners and will ensure that you take full advantage of available tax regimes, including R&D credits.
Specialized and expert support
Your dedicated financial expert is always on hand to answer questions and is supported by our intelligent accounting software to ensure all deadlines are met. Get fast and responsive service. Your dedicated financial expert knows your business and books inside out.
Expert CFO Services, customized for you
Grow your business with the advanced financial support you need, when you need it. Our extensive CFO services include annual budgets, ongoing financial support, tender evaluation, fundraising strategy, and more.
Under one roof
You wouldn’t buy a cup of tea in one place and sarnie bacon in another, would you? We feel the same way in accounting. Why did one accounting firm set up your business, another took care of your accounting, and then at the end of the year you had someone else set up your accounting? We offer a complete start-up accounting solution that covers everything your business needs to thrive and succeed for one fixed price, all under one roof. We believe that having everything at your fingertips and having all your business services handled by a trusted accounting firm will give you simple and easy access to all your business information without unnecessary hassle.
Scalability and flexibility
Whether your start-up requires support for a one-off project or has recurring needs, all of our services are scalable and customizable. Our services can range from the smallest and most detailed accounting for small business owners startups or financial tasks to the most complex data-intensive ones.
Comfort
We understand the budget constraints of running a small business, the importance of every penny you make, and how difficult it will be to grow your business’s profits. That’s why we offer start-ups a reduced rate on all our services. We believe in providing convenient access to experts without compromising on quality. We have developed an easy-to-use quotation system where you enter your details and the services you require and we will provide you with a final price. No two stores are the same, which is why we tailor our packages and offer a personalized service for all customers. Our in-house team will work with you to ensure you maximize every pound you earn and pay the correct amount of tax to the Internal Revenue Service of Canada. We encourage anyone to find a better price for current accounting services.
Get your business off the ground with Webtax Online
Have you just started a business? We are happy to assist you and your new business and help with all the accounting elements of your business. We’ll make sure your business gets off to a good start. Contact us today!
Big accounting firms don’t just see you at tax time. That’s why Think Accounting is with you all year round to provide you with invaluable advice to help you move your business forward. Whether it’s your first, 10th, or 100th startup, we’re here to help you grow your business.
We can even help you prepare your corporate and individual tax returns, making us your one-stop shop for reliable and affordable accounting services.
Think Accounting is more than just a hi-tech accounting firm. We are loyal business partners committed to your success.
Accounting services for startups
As a startup founder, you can feel like you have the whole world on your shoulders. You are overwhelmed by the many challenges that stand in the way of realizing your idea. All while managing the day-to-day operations of your business. While there are risks, the benefits of owning a startup outweigh those risks. When starting a new business, you are so busy with administrative tasks that keeping proper accounting records and bookkeeping can be overwhelming. However, if you don’t keep your financial records in order, it can become a stumbling block when you try to legally incorporate your business or when the CRA decides to audit your business.
When starting a new business, cash flow is very important because there are usually limited resources and large expenses. It’s one of the main reasons to hire a professional to take care of your accounting needs right from the start.
At Webtax Online Chartered Professional Accountants, we can help you with everything from managing your day-to-day operations to working on your long-term strategy, all while ensuring your business generates profits. In a rapidly changing world, business models continue to evolve, whether due to changes in market trends or the introduction of new technologies or in the new world affected by the pandemic in which we live. We monitor all startup systems and help set your business up for success with the latest technology tools, business expertise, and a wide range of financial, accounting, and tax services. Our services include not only keeping your financial books and records, but also payroll services, business, and personal tax returns, and all the correspondence and audit help you may need with regulators and tax planning.
Here is a list of services that WEBTAX ONLINE Chartered Professional Accountants can provide:
1. Revision of accounting infrastructure and process implementation (1 month)
i. Introduce the team and review current processes
ii. Review and document detailed processes within the accounting infrastructure including accounting, payables, receivables, and tax compliance.
iii. Assess and finalize software and ‘application suite’ to increase the efficiency of accounting processes, ensure automation where appropriate, improve controls, etc.
iv. Provide access and training to internal team members
Ongoing monthly managed back office services
i. Monthly data entry and transaction control
ii. Monthly bank account reconciliation
iii. Identification of monthly credit card fees
iv. QuickBooks Online (QBO) Review.
v. General ledger support
vi. Management reports including key financials
vii. Commitment support and debt management
viii. Setup and integration of Plooto payments
ix. Pay vendors and suppliers monthly
x. General accounting and accounting consulting
xi. File HST and make tax payments (including HST and corporation tax)
xii. Processing and recording wages once every two weeks
xiii. Payroll software maintenance
xiv. Adding new employees
xv. Bi-weekly payroll administration
xvi. Employee register
Senior Financial Management Services
i. Provide monthly financial reports
ii. Provide monthly performance against budget reports
iii. Help manage cash flow
iv. Participate in the budgeting and forecasting process
v. Coordinate with the management team ad hoc reporting and advice related to external fundraising requests
4. Confirmation
i. Confirm the financial strength of the entity and sign the confirmation for employee immigration purposes
ii. Continuous updates of certifications as needed
5. SR&ED Support and Grants
i. Technical tax preparation and SR&ED, including all schedules and statements
ii. Grant consultancy and procurement services
iii. Assessment of suitability and education
iv. Guide to the complaints process
Consulting services for startups
Financial advisory services
Our experts can assist you with SR&ED requirements, business consulting, forecasting, and budgeting. We will help you create a financial model that will simplify all your business decisions.
Accounting services
We help with the preparation of financial statements, audits, and assessments of your company. We’ve tested accounting software and processes that can ensure every transaction you make is properly classified and easily traceable.
Tax services
Never worry about your personal and business taxes, HST, payroll taxes, tax planning, and advice again. We will handle everything.
Inclusion
We can provide you with company formation services that can help you provide tax relief and help startups protect their assets and reduce their liabilities.
Accounting services
Let our office handle the books. Our team of experienced and professional accountants will help you keep your business finances in order.
Our accounting team can help you keep your books and records up-to-date while you focus on growing your business.
Startups
Not sure where to start when starting a business? No need to worry; we have many resources to help you succeed and help your business thrive. Accounting for start-ups is just like any other business, but with a focus on start-ups and supporting business growth. WEBTAX ONLINE Chartered Professional Accountants understand the many challenges faced by start-up business owners. We have a variety of accounting services to suit you, including consulting, bookkeeping, tax, incorporation, bookkeeping, payroll, and year-end accounting.
If you plan to contact investors, your financial statements should be accurate and up-to-date. Not only that, but you also need your books and records ready for a CRA audit. Outsourcing accounting services to your startup means one less thing to worry about when you’re already busy. For further information, please do not hesitate to contact the authorized professional accountants of WEBTAX ONLINE.
Why outsource accounting services?
The road to entrepreneurship has its pitfalls. We know that starting a new business requires proper research and planning. You will spend a lot of time deciding on the best ways to run your business. Our complete service for startups includes bookkeeping, financial statements, and tax returns.
We give you one less thing to worry about when you’re launching a startup. Outsourced accounting services allow you to focus on building your business. The process of running a business involves so many tasks that you do yourself. As you attempt to manage administrative tasks, ensure that financial records are properly maintained. You probably don’t have the energy or enthusiasm for paperwork or bookkeeping. Before things pile up and become too much, call an accountant to make sure your small business is running efficiently.
Competitive pricing for every startup
We know that most startups struggle to raise enough funding to sustain their business. This is why Webtax Online Professional Corporation offers very reasonable packages for business owners. Our Chartered Accountant gives you access to world-class accounting and tax compliance services without having to invest in a full-fledged accounting department. We know that businesses and individuals also want to save huge amounts of money when filing their taxes. We have the right Chartered Accountant with experience in offering solutions for startups.
Our startup services include:
a. Accounting
b. Payroll book
c. Company tax return
d. Tax planning
e. QuickBooks supports revisions and maintenance
We can always tailor a unique package to suit your needs. If you feel you could benefit more from a pay-as-you-go option, we are ready to offer that as well. Each accounting or tax service is priced individually so that we can meet your specific needs. For example, some of our customers make their own books but need us to return them. Others want to save time and money by outsourcing their payroll activities to our company. We are happy to be a professional accountants for startups in Toronto. Let us know how we can help you meet your number management needs. We promise to always offer you convenient and timely service.
Looking for small business bookkeeping services near me for startups? Get in touch with us for business accounting services for startups. Are you looking for ways to ensure your startup achieves its goals? Webtax Online Professional Corporation helps entrepreneurs turn a simple business idea into a success by taking care of all accounting and tax matters in Toronto. We have very good experience in helping startups in particular.
Save time and focus on growing your business
Startups need to focus on customer acquisition, customer support, and delivery more than anything else. We offer bookkeeping and accounting services so you can spend more time building your business. Our CPA accounting firm can come up with the right resources to provide you with accurate and efficient services. By using our complete accounting department, you can reduce operating costs by up to 60%. We will follow Canadian accounting standards and principles and recommend the best solutions to meet your needs.
Looking for small business bookkeeping services near me for startups? Get in touch with us for business accounting services for startups.
