Question
For a small STM32-based product business, how can I organise bookkeeping, hardware expenses, payroll, and tax records as the company grows?
I’m working on the business side of a small company developing STM32-based products and want to understand how other technology businesses manage their financial records.
For example, how should a small embedded-systems company organise:
- MCU and electronic component purchases
- PCB and prototype expenses
- Software and development tools
- Contractor or developer payments
- Payroll and recurring operating costs
- Business tax and financial records
What bookkeeping workflow would you recommend for keeping these expenses properly categorised and making year-end tax reporting easier?
For companies based in Ontario, Canada, would it be better to manage this internally or work with a small business accounting professional?
