IT Company
Company setup + Monthly Bookkeeping
THE CLIENT
A startup focused on providing IT solutions for small businesses, was founded by a tech-savvy entrepreneur with a vision to revolutionize the industry. While the founder had extensive expertise in IT solutions, he lacked experience in setting up and managing the operational aspects of a new business.
He needed assistance with various initial tasks, including business registration, setting up financial systems, marketing his services, and ongoing bookkeeping to ensure smooth operations.
OBJECTIVES
Successfully registered the company as a legal entity.
Set up essential financial systems, including bank accounts and accounting software.
Develop and execute a marketing strategy, including the design and distribution of business cards.
Maintain accurate monthly bookkeeping to support informed decision-making and ensure compliance.
SOLUTIONS
1. Business Registration and Legal Setup
Provided consultation on the most suitable legal structure for the business based on the founders' goals and the nature of the business.
Assisted in registering IT Solutions with the appropriate provincial and federal registry, obtaining necessary licenses, and ensuring compliance with local regulations.
2. Bank Account and Financial Systems Setup
Assisted in opening business bank accounts, ensuring they were set up to manage various financial needs, including income, expenses, and payroll.
Recommended and implemented accounting software (QuickBooks Online) tailored to the company’s needs, allowing for seamless financial management and reporting.
Provided training to the founders on using the accounting software, including entering transactions, generating reports, and managing invoices.
3. Branding and Marketing Strategy
Collaborated with the founders to create a strong brand identity, including logo design, brand colors, and messaging that resonated with their target audience.
Designed and produced professional business cards, ensuring they reflected the brand's identity and provided essential contact information.
Developed a marketing strategy that included an online presence (website and social media), SEO optimization, and targeted email campaigns to reach potential clients.
Assisted in setting up and optimizing the company’s LinkedIn and other relevant social media profiles to establish a professional online presence.
4. Ongoing Monthly Bookkeeping
Established a monthly bookkeeping process to ensure that all financial transactions were accurately recorded and categorized.
Provided regular financial reports, including profit and loss statements, balance sheets, and cash flow analyses, to support informed decision-making.
Ensured compliance with tax obligations by tracking expenses, categorizing deductible expenses, and preparing for quarterly tax filings.
Offered continuous support and consultation to address any financial or operational questions that arose as the business grew.
RESULTS
The project was executed successfully, resulting in several key outcomes:
Smooth Business Launch: The company was legally registered, fully operational, and ready to serve clients within the desired timeline.
Robust Financial Systems: The company had a well-organized financial structure with bank accounts and accounting software in place, allowing for efficient management of finances.
Strong Brand Presence: The branding and marketing efforts helped establish the company’s as a credible and professional player in the IT industry, attracting early clients and generating interest in their services.
Accurate Financial Management: With reliable monthly bookkeeping, the company could make data-driven decisions, manage cash flow effectively, and plan for future growth with confidence.
TAKEAWAY
By providing support across all key areas—legal registration, financial setup, branding, marketing, and ongoing bookkeeping—We helped the company build a strong foundation for success. As the company continues to grow, they are well-equipped to manage their operations, attract new clients, and achieve their long-term goals.