We provide specialist accounting support for SaaS businesses, helping you manage recurring revenue, monitor performance and scale with confidence.
Do you have a fast-moving tech business that you struggled to keep up with the finances for? Look no further. Here at DH Business Support, we have curated an excellent SaaS accountancy service where our talented and dedicated accountants can help you to better manage your finances.
Spend more time doing what you do best and let us handle the rest.
Our trusted SaaS accountants can help you in all aspects – from tracking SaaS metrics to allowing for more free time to focus on other areas of your business. We ensure that your business’s finances remain under control while offering expert advice and support.
Software-as-a-service (SaaS) accounting is a process of recording and analysing financial data. This type of accounting is for businesses that operate as software-as-a-service.
The type of accounting required for this business model includes considering recurring revenue from subscription-type business models. Providing financial statements, regulated and identified by the International Financial Accounting Standards Board (FASB), International Financial Reporting Standards, and so on, is specific to these kinds of businesses.
Due to the complexity of accounting for SaaS businesses, financial data must be interpreted. With SaaS accounting, data is securely accessed through the internet on multiple devices through the cloud.
This is because SaaS accounting software allows users to connect to cloud-based apps through the internet, too. Common SaaS examples include email and office tools, such as Microsoft Office.
At DH Business Support, we have set practices in place to ensure the best SaaS accountancy service. Our dedicated team have a lot of experience dealing with SaaS businesses and can help you understand the rules around owning a SaaS business.
There are three different methods of SaaS accounting, and these include:
Cash accounting counts revenue and expenses when cash is received or paid. On the other hand, accrual accounting doesn’t count revenue until it’s earned, regardless of the cash that comes into the business. This method can be complex, but it is better for SaaS businesses with a subscription-based income.
GAAP (Generally Accepted Accounting Principles) is a set of accounting guidelines, rules, and regulations. It helps with business accounting and requires organisation, consistency, and comparable financials – all of which are provided by our SaaS accountants, who ensure data is accurate and reliable.
Your SaaS business must generate the following data at least monthly.
Profit and loss statements or income statements – important financial statements that summarise your business’s revenue, costs, and expenses over time. Your trusted SaaS accountant can keep track of these finances on your behalf.
Balance sheet – provides information regarding your company’s assets and liabilities. Additionally, balance sheets can show equity and things your company owns
Bookings – this helps show how much your business is expected to earn over time and the amount that customers have committed to paying towards either subscriptions or services. It also helps show the success of your SaaS business.
Billing – shows what’s billed to your customers and the amount that your business plans on collecting from them.
Cash flow statement – shows the ins and outs of cash flow in your business
Revenue – displays your business’s earnings and profit. SaaS revenue recognition can be hard to measure. With subscriptions, some customers can pay upfront for a year and not count the entire payment as profit yet. The money will only be counted as your customers consume your services each month.
Our professional team of SaaS accountants are here to assist you while offering ongoing guidance and support. We provide a range of benefits:
We provide you with more time, allowing for better business decisions. A cloud-based company needs cloud-based accounting services to speed up its team’s efficiency.
Our SaaS accounting services allow you the freedom to adapt and expand, as you can access your accounts from anywhere.
We keep your financial data protected and secure.
You’ll have access to your data anytime, anywhere, helping make right decisions.
We can help you and your SaaS business succeed. Our SaaS accountants offer on-hand support to help your business by strategically planning to help you reach your goals. Our team will create a unique and tailored accounting plan that suits your individual SaaS business. We will focus on revenue growth, bookkeeping and budgeting to streamline your finances.
Contact our talented SaaS accountants today to find out more about how we can assist you.
We’re a trusted team who are waiting to help your business reach its full potential.
