DIY Accounting For Start-Ups

Not so time consuming

Many small business owners will immediately cry foul at the idea of being their own accountant. “I don’t have time!” they’ll say. While this may have been the case at one point in time, it is not true anymore. Today, online accounting software like Xero allows anyone to do their own accounting in a quick and easy manner, through automation and questions that help you figure out exactly what your business needs.

Of course, even though the software will automate a large amount of your day-to-day accounting tasks, it does not mean that you can start simply ignoring your basic financials. You will still have to do some work, especially regarding keeping track of all your transactions and expenditures. As long as you keep track of everything though, at the end of each quarter, it is very easy to plug the numbers into the online accounting software and have it run all the math for you.

Making checks with a few clicks

A great example of something that online accounting software can do for you as a do it yourself accountant is preparing and printing checks. No longer will you have to write out checks since you don’t have an accountant, all you have to do is sign each check after the software automatically labels and designates each check. During the process of printing the check, it will even automatically enter the existence of the check into your transactions database if it is not already there. It’s that sort of automation that makes online accounting software absolutely crucial for any small business owner who wants to cut costs by doing their own accounting.