Startups need a clear and efficient financial system from day one. How do you choose an accountant who not only handles reporting but also supports your growth? In this article, you'll learn why a startup needs an accountant early on, what mistakes new entrepreneurs often make, and how to find a professional who can become part of your growth team.
Why your startup needs an accountant from the start
Many startup founders postpone setting up accounting, thinking that without profit, there are no problems. But it's at the very beginning that a strong financial foundation matters most. An accountant helps you:
- choose the optimal tax regime;
- correctly prepare company registration documents;
- avoid fines and legal issues;
- manage cash flow and optimize spending;
- prepare reports for investors and grant programs.
A professional accountant is not just about “paperwork” — they are a key partner in your strategic planning and growth.
Common Accounting Mistakes Startups Make — and How to Avoid Them
Mistakes in accounting can cost a startup not only money but also its reputation. Here are the most common pitfalls you should avoid:
1. No systematic accounting from day one
Many beginners keep records in notebooks or Excel instead of using specialized software. This leads to data loss and confusion.
2. Ignoring tax obligations
Missing deadlines for filing or paying taxes can result in penalties and issues with the tax authorities.
3. Choosing the wrong tax structure
Startups often select an unfavorable tax regime without consulting a specialist.
4. Lack of financial planning
Without a budget and cash flow forecast, a startup risks burning through investments with no tangible results.
5. Doing the accounting yourself without experience
Trying to save money can lead to costly mistakes and missed opportunities.
A qualified accountant can help you avoid these issues — saving you time, money, and a lot of stress.
In-House vs. Outsourced Accountant: What Should Your Startup Choose?
When choosing a collaboration model, startups should consider both budget and business flexibility. Both in-house and outsourced accounting come with their pros and cons.
Benefits of outsourcing for startups
- Resource savings: you pay only for the work you need—no taxes, paid leave, or equipment costs.
- Access to a team of experts: instead of one person, you get an entire team with experience in various fields.
- Flexibility: services can scale according to the startup’s growth stage.
- Lower risk: outsourcing companies often take responsibility for reporting errors.
When to hire an in-house accountant
- If you have a steady flow of operations and work in a highly regulated industry (e.g., fintech or healthcare).
- When regular consultations and strategic involvement are needed — for budgeting, investment reporting, or financial modeling.
- If full confidentiality and internal control are required.
Conclusion: outsourcing is usually the best choice for early-stage startups. As your business grows, hiring in-house becomes a valid option.
5 Key Criteria for Choosing an Accountant for Your Startup
Choosing the right accountant is an investment in the stability and growth of your business. Here are the essential criteria to keep in mind:
1. Experience with small and early-stage companies
Check if the accountant has worked with startups. They should know which reports are vital early on, how to structure expenses, and how to communicate with investors.
2. Knowledge of local regulations
This is especially important in Moldova, where the tax and legal systems have unique features. Your accountant must stay up to date and apply changes correctly.
3. Proficiency with modern online tools
Platforms like 1C, cloud-based CRMs, and document management systems are essential for efficient remote work.
4. Understanding startup specifics
Financial flows, investments, grants, pilot sales, and fast pivots — your accountant must understand your business model, not just record transactions.
5. Transparent pricing
Clear fees, no hidden charges, and scalable service levels — exactly what a budget-conscious startup needs.
Successful Startup–Accountant Collaboration Examples
Real-life stories help illustrate how a skilled accountant can impact business growth. Here are a few typical scenarios:
Example 1: IT Startup at MVP Stage
The company was launching a pilot version of its product and secured its first angel investment. With an outsourced accountant, they quickly opened a bank account, built a financial model for investors, and avoided penalties for late reporting.
Example 2: Online Food Delivery Service
Following rapid growth in the first quarter, the startup faced documentation chaos and cash flow gaps. Hiring an accountant helped organize financial records, automate payments, and prepare reports for the next funding round.
Example 3: Agri-Startup with Grant Funding
The team received funding from an international program and had to report every euro spent. The outsourced accountant prepared compliant reports and supported the audit process.
How to Order Accounting Services for a Startup in Moldova
Selecting and onboarding an accountant in Moldova can be easy if you know where to start. Here’s a step-by-step outline:
Documents You Need
To start working with an accounting firm or freelancer, you’ll need:
- company registration documents (certificate, charter);
- excerpt from the state register;
- details on your tax regime;
- list of employees (if any);
- access to online banking and accounting systems (if already in use).
What It Costs in 2025
Service pricing depends on the type of collaboration and transaction volume.
Many accounting firms offer startup packages that include not only bookkeeping but also support for registration, tax setup, and online reporting submissions.
Are You Ready to Hire an Accountant? Startup Checklist
Before signing a contract, make sure you're truly prepared to work with an accountant and understand your responsibilities. Here's a quick checklist:
- You have a registered legal entity or are in the process of registering one.
- You've selected an appropriate tax regime.
- You understand what documents and reports are required by Moldovan law.
- You have a clear view of your cash flow and expected transactions.
- You're ready to delegate tasks and provide access to key information.
- You have a budget—even a minimal one—for accounting services.
- You see the accountant as part of your team, not just an executor.
If you’ve checked at least 5 out of 7 points — you’re ready to work with a professional accountant.
Need help? Get a Free Consultation from Intelcont!
Choosing an accountant for your startup and not sure where to start? The experts at Intelcont can help you:
- select the best tax system for your business;
- understand which reports and deadlines apply to you;
- set up your accounting and automate routine processes.
We work with startups across Moldova, offer transparent pricing, and tailor our approach to your needs. Submit a request and get your free consultation today.
