Bookkeeping must be accurate to start with
Last week I ran a QuickBooks training session in Raleigh, North Carolina. I love conducting these because it’s a chance to work with small business owners to help resolve nagging issues.
After the four hour talk, a manager came up to me and wondered out loud how important it was to keep perfect track of accounting records. They felt that close should be good enough. I have two problems with this. First, the IRS requires exact and 100% accurate records. Secondly, if you begin going down a path of not demanding accurate and complete bookkeeping records, you will always have doubts about the integrity of your financial results.
QuickBooks is one solution to help and it really just a starting point. What you also need is a professional that can interpret the results; ideally someone who has lots of experience working with many other small business owners. Bookkeeping and accounting is where it all starts, as far as I’m concerned.
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