Starting a business is something you may have been dreaming of for many years. It’s exciting and can be stressful at the same time because it comes with so many moving parts to bring your dream to life. Especially when it comes to managing your business finances. But the good news is that you don’t have to do it alone. At Cyron & Company, we have been helping business startups for more than 20 years. We specialize in business startup accounting Chester County, and provide guidance that is specific to your business. We know your dream is important and we help you get off to a strong start and maintain that momentum throughout the life of your business. From setting up your accounting systems to answering all your questions, we’re here to support your business startup and the accounting needs that come with it.
Call (484) 770-8796 to Schedule Your Consultation & Start Your Business Accounting
As someone who has worked with many new businesses in Chester County, we know how overwhelming it can be. While the dreaming and visionary part of the business may come easy, you have to think of the logistical aspects as well. While it’s fun to bring your vision to life, you may feel bogged down with the parts of a business startup that don’t seem as fun. That’s where we come in. First, we’ve put together this list of nine accounting tasks to prioritize during your startup’s first year to help you stay on track and set a solid foundation. Then we will look at what we can take off your plate so you can focus on the things you enjoy most.
9 Accounting tasks to prioritize during your startup’s first year
1. Open a business bank account
Keep your personal and business finances separate by setting up a dedicated business bank account. This simplifies bookkeeping and makes tax preparation easier.
2. Set up a chart of accounts
A well-organized chart of accounts helps you track income, expenses, assets, and liabilities. It’s essential for managing cash flow and preparing financial statements. This is an important foundational step for business startup accounting Chester County, and one we are happy to help with.
3. Choose the right accounting software
Using a reliable accounting platform is key for tracking transactions and generating reports. At Cyron & Company, we also offer QuickBooks Online training to help startups in Chester County make the most of their accounting tools.
4. Track expenses and save receipts
Keep a record of all business expenses, big or small. This helps you stay on budget and claim deductions at tax time.
5. Set up payroll properly
If you’re hiring employees, make sure you have a payroll system in place that handles taxes, withholdings, and compliance with local and federal regulations.
6. Understand your tax obligations
New businesses often underestimate how much they’ll owe in taxes. Partnering with an expert in business startup accounting Chester County, like Cyron & Company, can help you stay compliant and avoid surprises.
7. Reconcile your bank statements
Regularly matching your bank statements with your books helps you catch errors early and ensures accuracy in your financial records.
8. Monitor cash flow regularly
Cash flow is the lifeblood of your business. Make it a habit to review your cash flow to avoid shortages and plan for future growth.
9. Create a budget and financial projections
A detailed budget and realistic financial projections guide your decisions and help you stay on track toward your goals.
Managing these tasks effectively during your startup’s first year can make or break your business. At Cyron & Company, we specialize in business startup accounting Chester County, providing tailored services to help new businesses thrive. Whether it’s setting up your books or offering strategic financial guidance, we’re here to help you succeed. Let’s take a closer look at the services we offer and how we can help with your business startup.
Business startup accounting Chester County services we provide
Setting up your accounting system
A well-organized accounting system is the backbone of any successful business. From setting up your chart of accounts to selecting the right software, our team makes sure that everything is configured to track income, expenses, and cash flow seamlessly.
Soundboarding your ideas
Starting a business comes with having to make a lot of big decisions. Having a trusted person to bounce ideas off can make a huge difference in the foundation that you lay for your business from the beginning. We will act as your trusted advisor and offer insights and advice on the financial portion of the dream you’re bringing to life.
Training for your accounting staff
If you have staff handling your accounting, they need proper training to ensure they’re working efficiently and accurately. We offer customized training sessions, tailored to your business and the tools you’re using, like QuickBooks Online. Our goal is to empower your team to confidently manage your financial systems. This is a great way to utilize business startup accounting Chester County.
Coaching you on your business plan
Your business plan is more than just a roadmap. It’s a critical tool for securing funding and setting clear goals. We offer coaching to refine your plan, focusing on the financial aspects like budgeting, projections, and break-even analysis. By ensuring your plan is solid and realistic, we help you make a strong impression on investors and lenders.
Developing Written Procedures
As your business grows, having written procedures for financial processes is important for consistency and accountability. Having written procedures for things like invoicing, payroll, and expense tracking, will help your business run smoothly and also encourage growth.
Providing answers to your questions about starting a business
Starting a business brings up countless questions about everything from entity selection to tax compliance. We’re here to provide clear, straightforward answers. Should you form an LLC or a corporation? What are the local tax requirements in Chester County? We are here to break it all down for you.
Cyron & Company is your trusted choice for business startup accounting Chester County
Starting a business is a big step, but you don’t have to do it alone. At Cyron & Company, we specialize in business startup accounting Chester County, providing personalized guidance to help you get off to a strong start. From setting up your accounting system to answering your toughest questions, we’re here to support you every step of the way. Let us help you create the strongest foundation for your business launch. Contact us today to take the next right step forward.
Read this 5-star review from new business owner Amanda
“As a new small business owner the team at Cyron & Company has been invaluable to me. They offer solid guidance, have made community connections to other services when I needed them and have helped me through one of the biggest transitions in my personal and professional life. I can’t say enough good things about them! I highly recommend to other small businesses and start ups!”
Call (484) 770-8796 to Schedule Your Consultation & Start Your Business Accounting
Cyron & Company is a CPA firm based in Kennett Square, PA, offering comprehensive accounting and tax services for small to mid-sized businesses and individuals. Our services include outsourced accounting and CFO solutions, tax planning and preparation, financial statement reviews, business startup consulting, and QuickBooks Online training. The firm emphasizes using cutting-edge digital tools to simplify financial management, helping clients make informed decisions. With over 20 years of experience, we provide customized financial guidance to help businesses succeed.
