Accounting system review/selection

When I start work with a new client one of the first questions I ask is to review their current budget and financial record-keeping system. Unfortunately, many small business owners cannot provide that information. Growing a small business requires an awareness of what your finances are at any given time. In the development and implementation of a Vision-Based Business Plan it is critical to know what funds are available for each segment of the plan.

Having a complete financial record system allows for the allocation of funds to those areas that have the biggest impact on increasing the bottom line.

I recommend that you visit with your CPA and get suggestions as to what is the best system for your particular type of business. Most small business owners, at least at the start of the business, can use Quick Books as their entry-level software package. There are many financial systems that are geared to function for specific types of businesses, but they may be too expensive until the business gets traction and has the cash flow to support it.