Ask HN: SaaS Bookkeeping and Accounting

7 points·sp3ktrum··7 comments

Who/what are you using for bookkeeping for SaaS businesses? Who are you using for accounting services for Saas businesses?

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My bookkeeper and accountant are from the same company. I'm trying to find alternatives as I'm not happy with their services. They just use Quickbooks which is fine. But really trying to track down accountants used by SaaS companies. I've noticed some SaaS companies start to implement the collection of taxes for each specific state. I feel like I need someone who has that knowledge to advise and potentially implement.

A lot depends on the legal and tax structure of the business.

If you’re a small business - you can potentially do cash basis accounting with a disregarded entity LLC. Some SaaS services exists for this.

If you’re a c corp with employees and investor money, you might have more complex needs like accrual basis accounting and nexuses in multiple states. In this case, you probably need dedicated professional advice.

A bit off topic but I've never understood how cash basis accounting is supposed to be simpler. How do people keep track of receivables and payables?

I was an accountant for a SaaS business with operations in the US. It was B2B, and used a plug-in (Vertex) with the ERP to calculate sales tax in each state.

I just use Quickbooks. Takes a little getting used to but I can just give my accountant access and they can get what they need to prepare the end of year accounts for filing.

Why aren’t you talking to local established accountants?

I have spoken with a few and not many have SaaS clients. I'm needing advice on SaaS specifics including the collection of taxes for specific states.

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