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Heres a brief checklist: Choose an accounting method: cash or accrual. Integrate software with your financialaccounts for easy record-keeping. Regularly review bank account and credit transactions for discrepancies. This is a case where knowledgeable CPAs are worth consulting with.
More complex enterprise resource planning softwaresuch as Oracle Netsuite, may even make sense for your startup if you are in the right industry and depending on where your aspirations take you. In particular, you will want someone who is well versed in the Generally Accepted Accounting Principles (GAAP).
For instance, a small business might manage their financial data with a simple accounting software like QuickBooks and their staffing with a simple scheduling software like Homebase. Some of the leading ERP software options include: NetSuite. Here are some helpful guides to get started: Best Enterprise Accounting Software.
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