When comparing NetSuite and QuickBooks, it’s essential to consider the features, pricing, and scalability of each software, especially in the context of a startup’s growth and funding stages. If your business is small, you might choose to handle the accounting yourself rather than hiring an accountant, and only seek professional when it’s time to prepare taxes. But regular sound professional advice is invaluable and can make your business successful. To ensure that journal entries have been recorded and posted accounting for startups correctly, small businesses use the trial balance accounting method to double-check account balances for a given time period. A trial balance ensures that the debit and credit balances in the ledger accounts match.
Step 4. Track every transaction
And I actually worked with FreshBooks way back in the day before Kruze Consulting. Great company, great management team, huge commitment to customer service. They’re famous for only letting the phone ring one time before someone picks it up. So if you’re looking for that great customer service and you’re a very small company maybe an independent contractor, FreshBooks can really work for you. I believe they were acquired, I have to confirm that, but they had a good exit, but it wasn’t quite as powerful as QuickBooks. It’s never been a breakout success that would make it the industry standard of the best accounting software for funded companies.
Explore Graphite Financial’s Startup Accounting Services
These tools offer tailored solutions, scalable to the unique needs and increased growth trajectories of startups. Reliable customer support and accessible training resources are invaluable, especially for startups unfamiliar with accounting practices. Intuitive interfaces accelerate training and reduce errors, enabling startup teams without extensive accounting backgrounds to manage finances confidently. You’ll need audit-friendly reports, cash flow statements, and collaboration with your finance team.
- CPAs are legally allowed to provide tax services above and beyond what other accounting professionals can do.
- Like reconciling bank statements and bank accounts inside of an Excel sheet is just torture.
- The foundation of startup accounting involves understanding the basic principles and ensuring you have a solid system in place from day one.
- QuickBooks Online is a cloud-based program that helps startups manage all of their financial needs.
- There are also virtual bookkeeping services like Quickbooks Live that handle everything for you at an affordable price.
- There are a few accounting software options that live within a suite of products created by one company.
Comparing the best startup accounting software
- The accounting software also integrates with over 1,000 apps like HubSpot and Square, making it ideal for accounting for startups that already use business tools and need to sync financial data.
- Finally, QuickBooks Desktop is an OK option for companies with a lot of inventory, but the world is moving away from desktop software so it’s hard to recommend.
- What is the current consensus on accounting tools for early stage startups?
- If you need an easy-to-understand accounting software package with great customer service and tech support, FreshBooks can help.
- Still, for those who don’t need a large variety of advanced features, there’s no sense in paying for functions you won’t use.
Effective integration with CRM systems, payment processors, and banking apps significantly reduces manual data entry, improving accuracy and productivity. It also makes it seamless to connect to companies like Square and Stripe which is super important for B2B and B2C businesses. Free accounting software is basic at best, and not everything free is worth using, especially when it comes to business bookkeeping. Also, a free trial for online accounting software is something different than free accounting software.
Client management, AI training and tools designed to help you thrive in the AI world. https://www.theclintoncourier.net/2025/12/19/main-advantages-of-accounting-services-for-startups/ We set startups up for fundrising success, and know how to work with the top VCs. Finally, QuickBooks Desktop is an OK option for companies with a lot of inventory, but the world is moving away from desktop software so it’s hard to recommend. We’re still a QuickBooks oriented firm ourselves because we just think it’s the best.
