Accounting Advice

Small Business Accounting: When DIY is a Don't

You’re a growing company that has no outside accounting help because you’re going to figure it out on your own. After spending hours upon hours learning new skills, software, and a few tax laws, you’re basically where you started at: level zero.

For the majority of small business innovators, the DIY bookkeeping approach presents two challenges. First, financial management isn’t a genuine topic of interest to the individual in question. We frequently encounter founders who are passionate about their product/service or customer engagement, not QuickBooks. Secondly, amateur accounting often falls behind the evolving needs of a fast-growing business. Even with the best effort, we often encounter DIY accountants whose hard-won knowledge applies to the size and shape of the business last year, not the year to come.


Most leaders should not try to navigate their own accounting. It’s an unproductive and inefficient undertaking that can have disastrous results. We’ve met people who try a DIY bookeeping approach and end up accumulating more than $10,000 in fines and penalties from the IRS because they inconsistently managed their taxes. Moreover, the time spent on accounting amounted to a massive and irretrievable opportunity cost. That expense can be hard to quantify but should not be overlooked when assessing the damage from a DIY approach to financial management.

We advise business owners find professional accounting services that will work alongside them to resolve their problems and have the foresight to avoid issues in the future. By embracing outsourced accounting, business owners can expect to see their businesses grow. We’ve had clients increase their sales by 20 percent after relinquishing their cluttered shoeboxes of receipts and paperwork that had been keeping them up at night. Why? They’re able to focus on what they love and what they’re good at—the stuff that made them want to jump into business to begin with.

The Time Is Now.

We’re here to tell you that it doesn’t matter where your agency is in its growth curve – managing its money doesn’t have to suck.

At Accountfully, no two clients are the same and we recognize that needs change over time. That’s why we work with businesses to address their immediate needs and to plan for future growth. We do this through a tailored blend of financial expertise and smart task execution that can’t be found with traditional accounting models.

We do the day-to-day work of professional accounting and bookkeeping while also serving as a strategic partner that helps our clients navigate com- plex financial challenges and opportunities. Ready to get started?


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