Listed below are some basic accounting functions needed by a new company. If you are interested in setting up such functions in a startup, I have suggested some cost-effective starting points. It makes sense to adopt industry standards that enable the company to more easily find employees and contractors who already know the systems. It also helps to use cloud-based systems for the same reasons that software is moving to the cloud generally -- easy access to data and many fewer worries about hardware, software updates, data storage, etc.
QuickBooks Online is a solid choice for a new company. Lots of companies use it and lots of professionals are trained and experienced in its use. Related services are therefore easy to find. Most cloud services for billing, employee expenses, payroll, payments, etc. enable off-the-shelf integrations with QuickBooks Online, which greatly simplifies things. And finally, when it's time for the company to move to a more robust accounting system (usually years down the road), most advanced accounting systems provide a clear and well-traveled migration path from QuickBooks Online.
QuickBooks Payroll is available within the QuickBooks system and easily set up. Other service providers offer additional benefits, but if you are using Quickbooks and need to start payroll fast, this is an effective way to start.
Company founders or managers establish bank accounts and their choices will be driven primarily by their preferences. The bank chosen should be one that allows online integration with QuickBooks Online and that offers easily accessible online services (and maybe lots of retail/ATM locations). I won't (can't) set up your bank accounts, but I can recommend some alternatives.
Quickbooks provides basic billing that is sufficient for most businesses. Other SaaS solutions are available as alternatives for high-volume SaaS companies that need subscription billing and accounting solutions.
QuickBooks Online, also can be used for this, or Bill.com is easily integrated with QuickBooks Online and provides additional functionality.
Expensify enables employees to submit their expenses, including receipts, through a web browser or a smartphone app. Then approvals, reimbursements and uploading expense data to QuickBooks Online is enabled through an integration.
How to Start?
Send me a message and we can schedule a quick call. If it makes sense, we can discuss a possible project in more detail. I love learning about new businesses and look forward to hearing from you.