Technology companies need to stay on the cutting edge of innovation. Your company may be leading the charge. So why use an accounting service that’s stuck in the past?
Choose Compass Accounting. Our sophisticated cloud accounting software will help you track expenses and view financial statements wherever you go. And our tech specialists will get your finances in order to make applying for funding and grants for technology companies easier.
Why Accounting for Technology Companies is Important (some examples)
Reliable financial reporting
Whether you’re offering SaaS, creating standalone pieces of technology, offering managed IT services or operating in any other part of the technology sector, you need reliable financial reporting. Our cloud accounting software can help you record financial transactions wherever and however they take place. You’ll be able to access balance sheets, cash flow statements, and other essential documents with the click of a button, wherever you are in the world.
Early investment is essential to the growth of cutting-edge financial startups. With our services, you’ll be able to provide investors with essential financial reporting in moments. And with our accounting services on your side, you’ll be able to better manage your cash flow, which will help you attract investors.
Grant & incentive tracking
The Government of Canada wants to invest in technology companies – so be sure to have your finances in order. Your books can be designed to track your expenses in line with application requirements to help you apply for grants and incentives, like the Scientific Research and Experimental Development (SR&ED) program.
Accounting for Technology Companies
Tracking your expenses, from R&D costs to travel, can be a challenge. Our bookkeeping services make it much easier. Track all of your expenses quickly from anywhere in the world using our cloud bookkeeping software. You can track all of your revenue easily, too, including online purchases and subscriptions. Get a clear picture of your cash flow and simplify tax time with Compass Accounting.
Our cloud accounting services can bring a lot of value to your technology company. From helping you determine pricing for your products to assisting you in attracting investors, we’ll give you a clear financial picture of your business – and help you bring it to the next level. We’ll help you determine how you can secure financing, how to give yourself a runway during large R&D projects and during the startup phase, and much more. Our goal is to help your company grow and thrive.
Make your CFO’s life easier with our CFO solutions. We offer business intelligence (BI) solutions to help you create a roadmap for your company’s financial success. We can help companies using in-house bookkeepers set up data and information tracking to capture the information we need to help you succeed. We’ll implement BI solutions and report on them, with the goal of helping you make better financial decisions.
List of Technology Companies That Can Benefit From Accounting Services
SaaS is one of the fastest-growing industries in the world, and we’re here to help your company grow just as quickly – if not faster. We can help you determine how much to charge per subscription, give you easy access to important financial statements, help you record your expenses for tax rebates, and so much more.
Managed IT service providers
Managed IT is a complicated business. You’ll wear a lot of different hats for different clients, from helping them build their IT infrastructure to securing their network. Determining how much you should charge clients for each service can be tricky, especially given how different the expenses can be for each client.
Our bookkeeping and accounting services can help. You’ll be able to track how much revenue each client is bringing in, all while monitoring expenses, allowing you to improve your cash flow.
Video game developers
As a video game dev, you know that your runway is the most important thing – especially if you’re launching your first game. You have to balance expenses with financing and ensure that you have enough money to continue developing and distributing your game. After launch day, you can finally reap your rewards.
We can help you manage your runway by providing stellar bookkeeping and accounting services. Keep your expenses under control and create the game of your dreams with Compass Accounting.
How has technology affected the accounting profession? From the earliest days of Excel to modern-day cloud accounting, technology and accounting have evolved hand-in-hand. Computers are, after all, adding machines, and bookkeeping and accounting deal heavily in numbers. Today, it’s easy to track all of your expenses and print valuable financial reports, leaving your accountant with more time to help you strategize.
Why do digital and tech companies need a specialist accountant? Many tech companies deal in subscription services, difficult-to-track expenses like R&D, and other non-standard revenue and expense streams. There are also an incredible number of tax breaks, grants, and incentives available to tech companies in Canada. Specialist technology accounting services provided by Compass Accounting can help you navigate these often murky financial waters.
What accounting software does Compass Accounting use? We install Xero Cloud Accounting for our clients, giving you access to valuable financial information about your business 24/7, wherever you are in the world.
Start Working with Us Today
We want to help you bring your tech company to the next level. Looking for accounting services? Call Compass Accounting today.