The Dos and Don’ts of Business Accounting
When you’re just starting out, your business accounting practices can make or break your new venture, and unless you majored in accounting in college, you might find yourself confused and frustrated. The first “do” in accounting is don’t do it yourself. Here are some other dos and don’ts.
What You Should Do
The first thing you should do is to take a basic accounting course if you didn’t do so in school. You need to have a general understanding of accounting practices before you open your doors. It’s just common sense to know the basics, as this will help you succeed in your new venture.
It’s also wise to seek expert advice from a CPA. He or she can help set up your books and recommend bookkeeping software that works best for your needs. Once you have this information, ignore the don’t in the introduction for a short time. Doing your own books for a while gives you important insight into business finance.