Bookkeeping for startups

As a legal startup business, there’s plenty to think about 

Get FREE advice on setting up accounting software, how to best report, which regulations you need to know and much more. And you’ll get all that before you need to commit to a monthly retainer. 

So let us take VAT, payroll and the rest off of your plate. We’ll rendezvous with HMRC and get you tax compliant, registered and ensure all your accounts are in order. That way, you’ll be left to manage the day to day decisions on how you’d like to set up and run your new business.

Don’t let your accounts take up too much time

Once accounting and reporting needs are agreed, you can choose software to manage your accounts, or stay paper-bound if you’d prefer. That way, we’ll keep track of any payments, receipts, credit purchases and sales, assets and liabilities. 

Build a clear finance routine from the start

A new law firm needs an accounting process that is practical to maintain as client work grows. Start by identifying who will provide transaction information, who will answer bookkeeping queries and who will review financial reports. Clear responsibilities make the handover between your legal and finance work easier.

Plan the records and reports you need

Discuss your business structure, expected transaction volumes, staffing plans and chosen software. Consider how invoices, expenses and bank information will reach your cashier, and what information you want available when reviewing your practice’s performance.

Support as your practice develops

Your first bookkeeping arrangement may need to change as the firm grows. A regular review of workload and reporting needs helps you decide when additional support is appropriate. Explore legal accounting software advice, payroll support and outsourced legal cashiering.

Tell us about your startup practice so we can discuss a suitable bookkeeping scope before you commit.