With any new big venture, you’ll want to make sure you have your financial house in order. One of the main thing to have in place is an accounting system that tracks and monitors your business sales and expenses.
This is extremely important for tax reasons but also to know the financial health of your business at all times.
You can use an accounting software to do this for you like Quickbooks. There are plenty of bookkeeping and accounting software on the market today. Shop around to see what fits your needs and budget, but atleast consider an Accountant to set up your system initially and to review your books at year end.
Here are 5 factors to consider when selecting an Accountant:
- Does he or she specializes in my industry?
- Does he or she has a good source of references?
- Can they help me set-up my accounting system?
- Does he or she work with businesses my size?
- Did he or she fully explain to me their fees?