You could also use memorandum, journal, and ledger books, just as Pacioli taught in 1494, but why waste your limited time and attention on a problem for which y

You could also use memorandum, journal, and ledger books, just as Pacioli taught in 1494, but why waste your limited time and attention on a problem for which you have a choice of good, off-the-shelf solutions at modest prices? (Think QuickBooks, not SAP.) As your startup grows, you’ll engage an accountant and hire a bookkeeper or business manager, who will expect to work in the traditional accounting cycle. You’ll also need to produce the usual reports and financial statements for your bankers, investors, or a potential acquirer’s due diligence team. Using software designed for the purpose makes all this easier and more reliable. It also conveys that your company is serious about its business: investors want to take a risk on your technology, market, and execution, not on whether your homebrew accounting system can generate an accurate cash flow statement.