Despite what some accountants might have you believe, you can run a business successfully without an accountant or even bookkeeping software. It might not be recommended, but it’s possible. It’s also possible that inadequate bookkeeping can be more troublesome than no bookkeeping since it can provide false information instead of no information.

Sales and cash flow can be easily verified or calculated on the spot without a bookkeeping system and can provide enough information for a business owner to get a good sense of what is going on in their business. However, as the business grows, these KPIs will be insufficient by themselves, but by then the business should be profitable enough to afford a well-developed and well-managed bookkeeping system.

The information provided here is not investment, tax or financial advice. You should consult with a licensed professional for advice concerning your specific situation.

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