Any business that wants to survive has to have an accounting plan that will allow them to see where it stands and how it is performing financially. Accounting for start-ups involves keeping accurate records of financial transactions and examining your finances to identify opportunities for growth and improvement. It will also help your business understand your past activity and where it currently stands to plan for the future. It is vital for start-ups to maintain accurate financial records; you need to have an accounting system, including bookkeeping, that will allow you to keep financial transactions organized as this side of your business becomes increasingly complex.

Hiring a professional is necessary, but owners also need to know the basics. You may be wondering why it is essential to hire professionals when you can figure it out yourself, and it's because good records help you make smarter business decisions. Naturally, accounting is done by accountants. In start-ups, these could be outsourced professionals designed to produce accurate financial reports, just like us! 786 Accounting and Tax will help your start-ups have factual, up-to-date financial statements that you can use to manage your business' growth and cash flow. We can handle tasks similar to what any other quality bookkeeping provider would do - except that we have developed highly automated systems and technologies. Our team is highly skilled and experienced in handling nuances of early-stage, venture-funded companies. Start-ups needs to know their runway cost, cash burn rate, every little momentum, where the timely, accurate record-keeping is non-negotiable. The rise and fall of start-ups are widespread in the world. The most important thing is to create a MVP (most viable product) and bring it to market with the least amount of timing gap. We do the bookkeeping to ensure you do what you do best and create a MVP that will potentially become the next Canadian Unicorn.