Early Stage Startup Accounting?
lionhearted: Most accountants will meet with you for half an hour to an hour for a consultation for free, especially if you're referred by a good client of theirs. Two things in play here: First, if your business is starting to make money, a good accountant should save you more than they cost.Second, if you can get someone with a bit of business savvy to look at your basic operating agreement/terms with your partner before you get rolling, that can help a lot. You might not want to get a lawyer/accountant to review agreements early if you're cash strapped, but by God, you'll wish you did later when the inevitable difference of opinion strikes.If it's not a primary source of income for either partner people will be more flexible, but it's the businesses that succeed and become quite profitable that you'll most wish you'd done better groundwork on. A bloody catch-22.Quick advice: Interview a couple accountants now, skip the lawyers for now if you're dealing with a small amount of time/money. You can probably get a good accountant for $300-$700 for year 1, which should more than pay for itself later. Also, a good professional will teach you and explain things to you as they're doing it. I've spent a grand total of less than 20 hours of my life with accountants and lawyers I was paying, but I've learned a hell of a lot from those times. Seriously, one key business point you didn't know can be worth thousands to you later as you're becoming successful. Definitely get an accountant the first year you're profitable, interview and start thinking about it now.