Is accounting and sound bookkeeping more important to a small business or medium and large businesses?
Accounting and bookkeeping is equally important to small and large businesses. Things like revenue, expenses, growth, invoicing, paying bills, keeping track of your income, assets and liabilities and tax compliance and planning cannot be done without an accounting system, whether you are a startup or seasoned business. Components of a solid accounting and bookkeeping system: The attitude of owners towards the importance of accounting and sound bookkeeping: If owners or management think that accounting is not as important as other parts of business such as operations or marketing, then you will not have a solid accounting system since it’s viewed as a low priority function. The fact is that accounting is just as important as operations and marketing and it helps you improve your operations and marketing efforts. Access to an experienced business CPA: Choosing an accountant who has the right level of experience, and is diligent and responsive to your business needs. In this respect, the
