3 ms·
Almost nobody in a business needs to know double-entry except for the accountants. You need to know accounting concepts (what can be expensed verses capitalized
by conductr 1y ago
Almost nobody in a business needs to know double-entry except for the accountants. You need to know accounting concepts (what can be expensed verses capitalized, how does bad debt get treated, etc) and how to read your financial statements. If you're a solo person, maybe how to reconcile accounts. But, all that can be taught in a workshop or simply by doing some online research on the topics. Double-entry accounting isn't necessary if you plan to hire a bookkeeper/accountant, it's kind of the sausage making part of company financials.