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Never had a problem with any of this. Yes, it is time-consuming, but so is everything in business. Maybe if I have someone to open a business in my name, do all
by France_is_bacon 5y ago
Never had a problem with any of this. Yes, it is time-consuming, but so is everything in business. Maybe if I have someone to open a business in my name, do all the work, and I just sit and drink margaritas at the beach all day, none of work would be time-consuming for me.
But back to reality, everything in life is time-consuming. But, that is why it is so important to have a healthy profit margin and enough revenue in to hire a bookkeeper - so it takes you zero time.
But, even still, the real issue is that most business people don't know sh-t about accounting, don't know about accounting controls, don't know about so much, that they can't really evaluate anything anyways. How many companies have I been with or known someone that works at them that have been ripped off by embezzlement, because the company didn't know about controls. Too many. Rita Crundwell who was the Comptroller and Treasurer of the town of Dixon, Illinois is an especially juicy case of embezzlement. Crundwell stole nearly $2.5 million per year from the city. Crundwell with embezzling $53 million over the prior 22 years. And I think it was more, because she worked for a longer period than that, but no records were available. There was a great analysis of it, and wow, was it great. Just so fascinating.
I have a lot of experience in accounting and bookkeeping, so I really enjoy it. I don't know, it doesn't really take me a long time, I do it every day, so it takes me less than 4 or 5 minutes per day. Sometimes a little longer, sometimes less.