Startup Accounting 2024

Building a startup as well managing the finances? Read our essential guide to Startup Accounting to help increase your odds of success in 2024.

Reading time 25 mins

Craig Pornss

Tanya Christie

Stuart Reynolds

Introduction

Your guide to accounting for startups.

Founders have thousands of tasks ahead of them required to build a healthy business. One area which cannot be ignored is the financial health of the business. 

Accounting may seem like a daunting task for tech startups, but its significance cannot be overstated. Especially for those aiming for rapid growth and seeking venture capital funding, maintaining good financial records is essential. Not only do these records facilitate the smooth operation of your business, but they also play a pivotal role in mitigating the risks associated with venture capital due diligence. Furthermore, they enhance your chances of successfully navigating ATO audits. 

You have two options: you can either shoulder the responsibility of accounting on your own or enlist the services of an outsourced startup accounting firm to help manage this burden.  

Our recommendation towards bootstrapped companies or those with less than a quarter of a million dollars in funding, is usually the DIY bookkeeping approach, encouraging them to manage & learn their basic financial tasks until the workload becomes overwhelming for the founder. Seasoned entrepreneurs also tend to skip the DIY financials part.

Implementing the right systems can significantly reduce this workload, which will be covered in other sections. You will learn some of the fundamentals of startup accounting, including:

The differences between a bookkeeper and an accountant
How accountants bring value to startups
Whether you need an accountant at your stage of startup development
How to create a budget and tips on using a budget for forecasts and analysis
How to establish and maintain good recordkeeping habits
What GAAP accounting methods are
How to implement an efficient accounting system
How good accounting is also good due diligence in mergers and acquisitions
How accounting makes tax time easier for the company
What documents you need to complete to file tax returns
An overview of the R&D Tax Incentive
Cash vs Accrual accounting

Download the Startup Accounting eBook!

If you find yourself lacking the time or inclination to delve into the intricacies of accounting and believe that your focus should be on strategy, growth, and scaling, rest assured that Fullstack and our team of tech accountants & advisors are here to support you at every step. Leave your bookkeeping to us, and we’ll give it the attention & expertise it needs.

They are incredibly responsive and easy to work with and always available! Couldn't recommend them highly enough!

Bookkeepers vs Accountants

How is an accountant different from a bookkeeper?

A bookkeeper typically concentrates on the fundamental tasks of processing and recording financial transactions. This includes activities such as managing invoices, tracking receivables, recording payments, and other essential financial functions. 

An accountant, especially those who are Chartered Accountants (CA), offer a broader spectrum of financial services. As your startup progresses and becomes more complex, you’ll require a higher level of accounting expertise. Accountants help:

create budgets
manage financial statements
develop forecasts, and;
generate reports for your board of directors.

They become particularly crucial when you’re raising capital or contemplating acquisitions, as they possess the expertise to navigate these intricate financial transactions. 

Moreover, many CAs can provide comprehensive tax services, going beyond what other accounting professionals can offer. This capability is especially valuable when dealing with tax returns and interacting with the tax authorities like the ATO or state tax agencies. In fact, CAs can provide valuable tax advice that can lead to substantial savings for your startup. Our clients have experienced significant tax savings, even for unprofitable startups that typically wouldn’t owe income tax. 

How Accountants Bring Value to Your Startup

Startup accountants are crucial parts of your advisory team, especially in the crucial founding stages.

Organisation: Your accountant plays a pivotal role in maintaining financial order within your startup. They can help ensure that compliance documents are accurately prepared and readily accessible. Additionally, they are a valuable resource for addressing any financial queries or concerns before they escalate into more significant issues. 

Due Diligence: When your startup attracts investment from venture capital funds or interest from potential acquirers in M&A negotiations, thorough due diligence is conducted. Having an accounting professional on your side who can explain your financials and address inquiries is invaluable during these negotiations. It can instil confidence in the minds of investors and acquirers, potentially enhancing the outcome of the deal. 

Compliance: Tax compliance is a subset of due diligence, and your accountant helps demonstrate that your startup has adhered to all tax obligations. Given the growing complexity of federal, state and international tax laws, having an experienced startup accounting firm is essential, particularly when seeking significant venture capital investment. 

Accounting Systems Setup: Scaling a startup can be challenging, but scaling financial and HR backend systems should not be. Experienced startup accountants have worked with multiple high-growth companies and understand which software and systems are best suited for hypergrowth. 

Responsiveness: During diligence and emergency situations, your accountant’s responsiveness is invaluable. They can expedite requests for financial information during critical moments. For example, they can assist with calculations related to employee terminations, such as termination pay and payroll processing. 

Tax Optimisation & Incentives: Beyond regular tax return preparation, your startup accountant can help you explore available tax incentives, such as the Research and Development Tax Incentive (RDTI). Given the detailed documentation requirements for the RDTI, having a startup accounting expert to guide you through the process is crucial. 

Read more about the R&D Tax Incentive and how we can help your ESIC startup take full advantage of the incentive.

Financial Advice: Your accountant is a trusted advisor who can assist with budgeting, financial modelling, burn rate analysis, and cash flow forecasting. They can help you interpret and analyse key performance indicators (KPIs) and develop a financing strategy. Furthermore, they provide a holistic view of your financials, helping you understand how various aspects are interconnected. In today’s dynamic financial environment, they can also assist in exploring safe investment options for your cash reserves. 

Risk Mitigation: Having an accountant who comprehends your entire financial landscape is essential. Automated accounting systems or limited-service providers may overlook potential issues, such as invoicing discrepancies, duplicate payments, or uncollected debts. Your accountant should function as a collaborative partner, actively contributing to your startup’s success and aligning their efforts with your company’s objectives. 

We have been working with Fullstack for several years and having them as a partner for our R&D, accounting, and tax needs has played a vital role in the financial operations for our scaleup. If you're looking for a reliable outsourced financial department that understands the specific needs of innovation-driven companies like ours, Fullstack comes highly recommended.

Do you need an accountant?

Does my startup need an accountant?

It depends on your stage! the basic considerations are below: 

Pre-Funded Startups: Pre-funded startups, especially those with limited financial complexity, may be able to manage their bookkeeping internally through a DIY approach. This approach can save on costs when financial operations are relatively straightforward, and the founder is tech savvy. However, it’s still advisable to engage a startup accounting firm like Fullstack for initial setup, filing tax returns or R&D Tax Incentive applications to ensure compliance. 

Funded Startups: As your startup secures funding and experiences growth, the complexity of your financial operations increases. Monthly accounting assistance becomes valuable for tracking expenses, managing budgets, and providing accurate financial data to investors and stakeholders. At this stage, having an accounting firm, especially one experienced with startups, can help streamline financial processes and help you make better decisions. 

VC Due Diligence: When seeking venture capital (VC) investments, startups undergo thorough due diligence by investors. Having a CA or experienced accountant who can explain your financials and address inquiries during this process can be invaluable. It can instil confidence in potential investors and contribute to the success of fundraising efforts. 

Budgeting 101 for Startups

As a startup working with limited resources, a budget can mean the difference between success and failure.
Budgeting is the first step in startup accounting because it helps you: 

Manage Money: Plan when you’ll have money and when you might run low. 
Stay on Track: Set goals and make sure your spending matches your plans. 
See Progress: Compare how you’re doing to what you expected. 
Hire Wisely: Allocate funds for hiring in line with your growth and have more confidence in “who” you should be hiring.

Every startup should create a budget to stay organized and financially healthy from the start. 

Budgeting Tips

Tips to create a successful budget

Creating a budget for your startup can be straightforward with these budgeting tips:

Focus on Headcount: Understand that your primary expense is likely to be your team’s salaries and related costs. Clearly define why each team member is essential and how they contribute to reaching your next business milestone.

Set Revenue and Cash Burn Targets: Develop a clear perspective on the amount of revenue you expect to generate and how much cash you plan to spend in the upcoming 12-24 months. Instead of asking department heads what they want to spend, provide them with budget constraints to work within.

Align Cash Needs with Opportunity: Ensure that the amount of cash you allocate aligns with the potential size of your startup. If you’re building a company with limited growth potential, avoid excessive spending; allocate your resources wisely.

By focusing on headcount, setting clear revenue and cash burn targets, and aligning your budget with your startup’s growth potential, you can create a well-structured budget to guide your financial decisions and ensure sustainable growth.

Modelling and analysis

Financial modelling and analysis for startups

Financial models are useful for helping startups predict their financial future – particularly across longer periods of time – generally 3-5 years. They’re used for things like figuring out how much your company is worth, planning your expansion & investment, and making longer-term strategic financial decisions. 

The good news is you don’t have to create these from scratch. You can use ready-made templates, and some companies, like Fullstack, offer some for a discounted amount. These templates make it easier to get to a decent result with less effort. 

If you’re not comfortable with this, you can also ask our financial modelling experts for help. They’ll guide you through the process and make sure your financial model is on the right track. 

Actual vs budget analysis

This is basically comparing your budget or forecasted performance against your actual performance for the period – usually a month. Startups benefit by conducting these analyses monthly for many reasons: 

Enhanced Discipline: This practice fosters financial discipline and accountability within your team – startups can’t afford to have a leaky wallet! 

Regular Financial Health Checks: It helps identify any discrepancies between projected and actual financial performance – i.e. a SaaS spend of over 30% budget for the month spend might prompt the founder to do a quick check of subscriptions that are really required. 

Insights for founders and future stakeholders: As a founder, it keeps you informed about how well your startup is managing its runway. Future investors may likely be interested in these figures as well. 

Recordkeeping for startups

Accounts recordkeeping, often referred to as “bookkeeping” in the accounting realm, holds significant importance. It ensures you can monitor the growth of your company’s revenue and how it manages its finances. This practice becomes especially crucial if a major corporation is considering a multi-million-dollar acquisition or if you’re seeking external funding from professional investors. 

In the technology and biotech sectors, early-stage companies aiming for substantial success should adopt GAAP accounting. While many cheap, non-qualified bookkeepers may opt for cash-based accounting, which is suitable for small businesses like coffee shops or small agencies, this approach falls short of industry expectations when you’re aiming for significant growth. 

Bridging the GAAP

What is GAAP and why is it essential for startup success?

GAAP, or Generally Accepted Accounting Principles, is the standardised accounting “playbook” in Australia and most OECD countries, ensuring uniform accounting practices.

But why is GAAP important for your startup? Here’s why: 

Better Business Management: GAAP assists in aligning your expenses and revenues with their corresponding timelines, enhancing your ability to manage your business efficiently. This alignment simplifies forecasting and trend analysis. 

Attracting Investors: For venture-backed, high-growth startups, having financials that adhere to GAAP standards is crucial. Potential acquirers and investors often require GAAP financials as part of their due diligence process. 

Smooth Due Diligence: GAAP financials streamline the due diligence process, reducing the likelihood of complications or deal-breakers arising from financial statement issues during exits or investment rounds. See our section on due diligence.

While accounting terminology, including GAAP, can be perplexing, Fullstack’s experts are readily available to clarify your financial matters, handle your taxes, and prepare you for due diligence. Additionally, you can explore our startup accounting dictionary for insights into other essential GAAP and accounting concepts. Ensure your startup’s financial success by embracing GAAP standards. 

Discover how we can ensure your startup is adhering to GAAP best practices.

Financial Statements

Essential Financial Statements for Your Startup

For startup projections, it’s essential to have an income statement and a running cash balance for tracking your financial performance.

If you prefer to include the three traditional financial statements in your model, here they are: 

Income Statement: This statement provides a summary of your revenues, expenses, and profits over a specific period, typically monthly or annually. 
Balance Sheet: The balance sheet presents a snapshot of your company’s financial position at a specific point in time, detailing assets, liabilities, and shareholders’ equity. 
Cash Flow Statement: This statement tracks the inflow and outflow of cash within your business. It includes operating, investing, and financing activities.

While these three statements offer a comprehensive view of your financial situation, they can increase the complexity of your financial projections.

Keep in mind that your balance sheet should always balance, and the ending cash balance on your cash flow statement should match the cash position on your balance sheet. Additionally, the cash flow statement and income statement are closely interconnected. 

For your seed-stage model, it is advisable to start with the income statement and the cash position. You may consider incorporating working capital or inventory if relevant to your business, but simplicity can often be more effective at this stage. 

Cash vs. Accrual Accounting – which is best?

Accrual accounting is the foundation of sound financial management for startups, and for good reason. While cash accounting only logs transactions when cash physically changes hands, accrual accounting records revenue or expenses when the transaction occurs. This approach is pivotal for several reasons, especially for startups. 

Firstly, accrual accounting is considered the standard method for most companies. It provides a more accurate picture of a company’s financial health and performance because it aligns with the “matching principle.” This principle dictates that revenues and expenses should be recorded in the period when they are earned or incurred, regardless of when cash is exchanged. This ensures that financial statements reflect the economic reality of a business’s operations. 

Secondly, for larger companies, accrual accounting is often a regulatory requirement. Adhering to this method ensures compliance with accounting standards and regulations, which is crucial for transparent financial reporting and maintaining trust with stakeholders. 

Now, let’s dive into why startups, in particular, benefit from accrual accounting. Consider a SaaS startup that secures a 12-month contract worth $120,000 in January. With cash accounting, you’d record the entire $120,000 in January, even though you still have to deliver the service for the remaining 11 months. This can create a misleading impression of your financial performance, making your income appear artificially high in the month of the sale.

Accrual accounting, on the other hand, allows you to recognise $10,000 of revenue each month, accurately reflecting the ongoing service commitment. The unearned portion remains on your balance sheet as deferred revenue, aligning your income with the actual delivery of services. This not only provides a more precise and predictable income stream but also makes your financials more appealing to potential investors.

In essence, accrual accounting empowers startups to present a more accurate financial picture, showcasing their revenue in a way that reflects the ongoing obligations and commitments of the business. This transparency is invaluable for making informed decisions, attracting investors, and ensuring long-term financial success.

Why startups should consider accrual accounting

Consider a SaaS startup that secures a 12-month contract worth $120,000 in January. With cash accounting, you’d record the entire $120,000 in January, even though you still have to deliver the service for the remaining 11 months. This can create a misleading impression of your financial performance, making your income appear artificially high in the month of the sale. 

Entrepreneur Metrics

Critical Financial Metrics for Entrepreneurs

When it comes to managing the finances of early-stage businesses, entrepreneurs should keep a close eye on several key financial metrics: 

Burn Rate and Runway: Your burn rate represents the monthly expenditure of your business. Your runway (i.e. 6 months) estimates how long your business can sustain its operations based on your monthly spending and the remaining funds in your bank account. 

Deferred Revenue: Deferred Revenue occurs when customers pay for services or products in advance. For instance, if a client pays for a 12-month subscription upfront, you receive the cash but owe them the subscription over time. This creates a liability on your balance sheet, but your cash flow surpasses what your income statement suggests. It’s a positive situation, indicating strong cash flow. 

Accounts Receivable (AR): AR represents the money owed to your business by customers for goods or services they’ve purchased on credit. This amount sits on your balance sheet as a liability since you haven’t received the cash yet. 

Accounts Payable (AP): AP refers to the money your business owes to vendors for goods or services they’ve provided on credit. These are unpaid bills. Different vendors may have varying payment terms, and it’s crucial to manage them effectively. Keep in mind that in accrual accounting, you record expenses on your income statement when you receive services or invoices, even if you haven’t paid them yet. This can lead to a difference between your operating loss and your cash burn. 

These financial metrics provide essential insights into your business’s financial health, helping you make informed decisions and manage your resources effectively. 

Accounting System

How To Implement an Efficient Accounting System

We highly recommend Xero as “the” accounting system for startups and high-growth companies.

Xero is the top choice for small business accounting in Australia and seamlessly integrates with other automated systems like payroll, streamlining your financial processes. Fullstack, being a Platinum Xero Partner is well placed to assist you here. 

When selecting accounting software for your startup, it’s crucial to consider the unique needs of VC-backed companies. Unlike traditional small businesses or solo entrepreneurs, startups require a solution that is adaptable and widely used by accountants. Off-the-shelf options like Xero are preferable to avoid being constrained by a system that only a handful of accountants can navigate (like Zoho Books, Saasu) or which are more geared to just sole traders (Hnry). 

Additionally, we suggest adopting a suite of financial technology tools that seamlessly integrate with XERO, offering top-notch payment management systems, international payroll systems, and investor reporting tools for high-growth companies. 

See the below example for an accounting workflow with your company and Fullstack:

Preparing for Due Diligence

The importance of being well-prepared for due diligence in advance

At Fullstack, we’ve assisted clients with over $750m of investor and government funding, and we see a number of clients being acquired every year. We understand that investment and acquisition opportunities can materialise swiftly, underscoring the importance of being well-prepared for due diligence in advance.

Startups that are seeking VC funding should have robust accounting processes and systems in place to regularly and accurately report on the company’s financial standing. Here’s how good accounting can facilitate a smooth due diligence process:

Financial Transparency: Good accounting practices ensure your financial records are accurate, up-to-date, and well-organised. This transparency builds trust with potential investors or acquirers during the due diligence process.

Quick Decision-Making: When your financials are in order, you can provide requested information promptly, expediting the due diligence timeline. This agility can be a competitive advantage, especially when multiple parties are interested in your startup.

Reduced Risk: Accurate accounting reduces the risk of uncovering discrepancies or errors during due diligence, which can lead to complications or deal-breakers.

Stronger Negotiating Position: With well-maintained financial records, you can negotiate from a position of strength, demonstrating that your startup is a sound investment or acquisition target.

To assist startups in preparing for due diligence, we’ve created the ultimate finance and HR due diligence checklist. You can access and download our comprehensive VC checklist to ensure you’re fully prepared for this critical stage of growth and investment.

Reminder that both venture capitalists (VCs) and seasoned angel investors seek assurance that the financials of the startups they invest in are presented in compliance with Generally Accepted Accounting Principles (GAAP) and facilitating a smoother investment or acquisition process.

Preparing for Tax Season

The Benefits of Good Accounting

Tax season can be a challenging and stressful time for founders, but good accounting practices can significantly ease the burden and ensure a smoother experience. Here’s how good accounting helps you get ready for tax season:

Organised Financial Records: Good accounting involves maintaining well-organised financial records throughout the year. This means you can easily access and compile the necessary documents and data required for tax filing & quicker turnaround times for R&D tax incentives.

Accurate Tax Calculation: With accurate financial records, your accountant can confidently calculate your tax liability, ensuring you neither overpay nor underpay your taxes.

Maximising Deductions: Properly recorded expenses and deductions can help maximise your tax deductions, reducing your overall tax liability. Good accounting practices ensure you don’t miss out on any potential deductions.

Tax Accountant Collaboration: If you decide to work with a chartered accounting firm, having well-organised financial records makes their job more efficient. It saves you time and money on professional tax preparation services.

Compliance: Meeting federal and state tax obligations is essential, even for unprofitable startups. Good accounting practices ensure you remain compliant with tax regulations and avoid last-minute rushes or penalties.

All startups are generally required to file their annual taxes no matter what stage.

Tax Return Documents

Essential Documents your Startup Needs

To complete your startup’s tax return accurately and efficiently, you should gather and have access to the following essential documents and information:

TFN from the ATO: This is your Tax File Number (TFN), which is assigned by the ATO when you register your company.

ABN (if applicable): This is your Australian Business Number. A search for your ABN can be done using ABN Lookup.

Business Details: Ensure you have up-to-date business information, including your business’ physical and postal addresses, Company Secretarial documents such as Certificate of Incorporation, Shareholding Information and Trust Deed (if applicable).

Bank Details: such as BSB, Account number, Account name, Financial Institution’s name.

Prior Year(s) Tax Returns: Have copies of your previous year’s tax returns, as they may contain important reference information.

Prior Year(s) Financials Statements which might include:

Balance Sheet
Profit & Loss Statement
General Ledger

Access to your Accounting Software (if applicable): We will require access to prepare your tax return.

Cap Table, Group Structure and Business Plan (if applicable)

You can simplify the process of sharing these documents with us securely, by attaching them to the onboarding questionnaire sent during the onboarding process, via Xero Ask.

If you have questions or need further assistance, our team of professional qualified accountants is available to handle the complexities of tax preparation on your behalf.

Connect with one of our seasoned advisors for a free discovery consultation here.

The R&D Tax Incentive

Up to 43.5% cashback on the eligible R&D spend

The Research and Development (R&D) Tax Incentive is a government-sponsored program in Australia designed to reward companies for engaging in research and development activities within the country. This program aims to foster innovation and technological advancement by providing financial incentives of up to 43.5% cash back to companies that invest in R&D.

Key points about the R&D Tax Incentive:

Government Incentive for Innovation: The R&D Tax Incentive encourages businesses to actively participate in research and development endeavours in Australia, driving innovation and advancement.

Reduce your cash burn: Companies, including startups, can leverage the R&D Tax Incentive to reduce their operating costs, even if they are not yet profitable. This incentive provides valuable financial support.

Savings Potential: Companies can offset their R&D-related expenses, potentially saving a significant amount on their taxes. The specific savings may vary depending on the nature and scale of the R&D activities.

Early-Stage Innovation Company (ESIC) Tax Incentive: Having this status can provide your eligible investors with 20% tax offset on the value of their investment alongside reduced CGT exposure for the next 10 years. The R&D Tax Incentive can assist you with achieving some of the criteria here.

Further potential for R&D Financing: Traditionally, the R&D Tax Incentive funding (i.e. refundable tax offset) is paid out after your company tax return is processed by the ATO. In many cases, further R&D financing can be provided upfront so you receive the funding earlier.

Quick logistical steps around the R&D Tax Incentive include:

Chat to a R&D Tax Consultant – the team at Fullstack can assist here
Prepare and lodge the R&D Tax Incentive application
Once processed, prepare the company tax return with the R&D schedule included
Receive a refundable tax offset (or tax reduction) from the ATO direct.

If you’re interested in exploring how the R&D Tax Incentive can benefit you or want to gauge your eligibility, contact our seasoned R&D Consultants.

We can guide you through the application process and help you maximise the benefits of this government program & help you maintain compliance. Book a time with our R&D team here.

Since we started our engagement with Fullstack, their team has been invaluable in shoring up our cash position, consistently securing R&D credit for us each year. They are a key partner for our technical team in the R&D Tax Incentive, assessing our varying project's eligibility and streamlining our application process.

Distributed Teams

Practical tips to navigate accounting challenges

Effectively managing accounting complexities in a distributed workforce is crucial for modern startups. We often find that access to staff is easier, staff morale is higher, and turnover is lower. Here are some practical tips to navigate the accounting challenges:

Expense Tracking: Set up a digital expense tracking system with clear guidelines.

Remote Management Structure: Define and communicate roles & responsibilities and employ communication tools to keep the team aligned.

Accounting Software: Invest in cloud-based accounting software that integrates with other tools.

Payroll Tax: Understand potential payroll tax obligations in the states where your staff are based – the thresholds tend to kick in with around 7-10 staff.

Payroll System: Use a robust payroll system for tax compliance.

International Awareness: Seek expert advice for foreign subsidiaries or owners. Also consider using an Employer of Record so as to minimise the exposure to payroll complexities overseas.

What is EBITDA?

Earnings before Interest, Taxes, Depreciation, and Amortisation

EBITDA, which stands for Earnings before Interest, Taxes, Depreciation, and Amortisation, is a financial metric that highlights the core operating performance of your business. It’s often regarded as a way to capture the most essential elements of your income statement.

EBITDA serves as a handy proxy for cash flow, primarily centred on the income statement. This means that professionals like bankers, private equity investors, and others frequently use EBITDA to get a quick estimate of cash flow without delving into the intricate details of the cash flow statement.

In a nutshell, EBITDA strips away certain non-operational expenses (interest, taxes, depreciation, and amortization) to offer a clearer picture of how well your core business is generating earnings before these factors come into play. It’s a valuable tool for financial analysis, especially when assessing a business’s operating performance and potential.

The Fullstack Difference

Why choose Fullstack

Fullstack Advisory’s mission is to serve startups and scaleups with innovative financial advisory, modelling, and reporting to ensure they are set up with the best chance of success in the marketplace. We offer a comprehensive range of services

Best Accounting Practices – we partner with your startup from day one, ensuring your financial processes and procedures adhere to best practices in terms of tax, record keeping, financial reporting, and due diligence.

Virtual CFO – Fullstack are leaders in providing an end-to-end solution for financial control and reporting expertise. Your VCFO oversees high-quality finance department as well as additional strategic support for capitalising on future opportunities.

Complete funding resource – As leaders in connecting founders with government tax incentives and grants, we can help your business with preparing and lodging grant applications so you can take advantage of every opportunity including the Export Marketing Development Grant & R&D finance.

Executive Advisory – We provide C-level and tactical support for your new startup that extends to all parts of the business including HR, communications, strategic planning, operations management, and decision support.

Financial Reporting – Our team implements the latest technology for financial reporting and business intelligence, ensuring you gain insights with reliable data that leads to better and faster decision making.

Technology Implementation – Fullstack advises and implements a full accounting and financial technology stack to enable your business to take advantage of enhanced reporting and streamlined processes from day one.

Due Diligence – Our GAAP accounting and other financial metrics monitoring means your startup has all its due diligence in order whether you’re approached for a merger or acquisition or looking to be acquired later down the track.

Fullstack is a leader in delivering tech-powered accounting and financial advisory services in Australia and have assisted tons of innovative businesses and startups to date.

We encourage readers to draw upon the detailed insights provided in this guide to get to the next level. If you would like help with your startup accounting, please contact us.

Big shoutout to the awesome team at Fullstack Advisory for making our financial life so much easier!

These guys got us in a way other firms didn't. Fullstack's deep understanding of fintech and how our business works gave us a smoother experience around our finances.

Because of the nature of our business, we were facing complex reconciliation challenges that stumped other accounting firms. On top of that, many of our processes had to be done manually. Fullstack Advisory's deep industry understanding, and their holistic approach were game-changers. They were not only able to help us with our urgent reconciliation problems, but they also set us up for success in the long-term.

We highly recommend Fullstack Advisory for businesses facing similar challenges. Their tailored solutions and continuous support have not only streamlined our financial operations but significantly improved our overall financial management in the long run.

Thanks Fullstack team, for helping us focus on our work.

If you need help with managing your stakeholders and keeping a high level of quality reporting, contact Fullstack who can help with best practice.