Start-Up Support

Whether a start-up or an established company, the reporting requirements to federal and state authorities are similar in many ways. S&G can provide guidance regarding the cost and benefits related to the choice of business entity, insurance needs, and employee benefit plans.

Additional services related to start-up support include:

  • Hiring Accounting Staff: Identify staffing needs, creating job descriptions, review applications, conduct interviews, and make recommendation.
  • Selection of Payroll and Benefits Provider: Make recommendation to management in selection of payroll provider and benefits broker. Ensure initial set-up is accurate and staff training is provided.
  • Assist with Federal and State Identification Numbers: Provide assistance with obtaining federal and state employer identification numbers; state withholding tax, sales and use tax, and unemployment tax numbers; and staff training of monthly, quarterly, and annual reports related to these identification numbers.
  • Selection of Accounting Software: Make recommendation on selection of accounting software package and provide staff training after set-up.
  • Create Chart of Accounts: It is important that the general ledger Chart of Accounts reflect the type of business and support the reporting requirements of management.
  • Financial Statement Preparation: Design financial statements that are meaningful to management and accurately convey company performance.
  • Budgeting and Forecasting: Assist in the preparation of the initial budget as well as ongoing updating of the balance sheet, income statement, and cash flow forecasts during the course of the year.
  • Cash Management: Develop a cash flow model to project future cash needs.
  • Bank Financing: Assist management in explaining financial results and operating forecasts to lending institutions in order to obtain adequate financing to cover cash flow requirements.

 

These are an example of the key services and benefits available.

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