Finance and Accounting

When starting a new consulting or professional services business, accounting may not be your priority, or you may think that it’s just another administrative task that you can handle on your own.

While you may be able to manage very basic finances in the earliest stages of your business, you should enlist the support of accounting professionals as soon as you begin taking on more than a handful of clients.

You can start with a bookkeeper to get your chart of accounts (Revenue, Expenses, Assets, Liabilities, and Equity) in order and then bring in a CPA and maybe a fractional or full-time CFO to help with more complex planning, projections, and identification of areas for improvement.

The resources below further explore these critical considerations for your new business.