Bookkeeping is boring and critical to your business.
In the good old days you took your "books" to an accountant once a month or once a quarter and the accountant prepared a financial statement.
With the advent of in-house computing (dominated by Quickbooks (TM)) a small business could do their own bookkeeping all the way to a financial statement.
That did not insure accuracy or completeness. Big problem.
Accurate bookkeeping increases the odds of accurate financial statement and useful analytics. And that requires work, and review, and more work.
Sloppy or incomplete bookkeeping causes problems.
In a future post we will discuss analytics.
In the future we will also discuss the impact of bookkeeping on tax returns.
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