Professional Setup Importance

Cash or accrual accounting? Single-entry or double-entry bookkeeping? Manual or software accounting system? Chart of accounts? Assets, liabilities and equity?

Deciding to become a business owner is exciting, and the easy part. Unless you went to business school, it's not uncommon to not fully understand what you need to take care of on the administration side of things. 

Maybe your family or friends have some administration experience, a common route many take. But unless you (or your partner) completely understand how to accurately set up your books, you're just setting yourself up for trouble. 

When you hire a professional, you can rest assured you will be organized, have accurate representation of owners equity, receive training in understanding accurate record maintenance and so much more.

You also won't end up spending a fortune having to pay a professional to fix the mistakes that were made in the first place. Don't sacrifice quality to save a little money!