Each year, I encounter new businesses that make the same mistakes as older, more mature businesses made when they first started up. One particular mistake made by new businesses is not getting a QuickBooks Pro Advisor involved in the early stages of a business's development. Too often, I see accounting files set-up incorrectly, mistakes made in data processing, and a lacking of understanding of basic accounting.
Much of this can be avoided by investing in the services of a Pro Advisor. A Pro Advisor can ensure the accounting file is set up properly, train staff on proper data processing, help reconcile bank and credit card statements, and provide guidance on basic accounting. Also, Pro Advisors are equipped to provide trouble-shooting services if the software is not functioning properly.
The lack of involvement of a Pro Advisor early on is usually because of a lack of money. Too often businesses are grossly under-capitalized and are hesitant to invest money. The accounting process is one area businesses think they can get by with spending as little money as possible: purchasing the least expensive software package (which may not be the right one) & hiring an inexpensive (and usally with little experience) person to do the books. These are big mistakes made by businesses that end up costing more in the long run.
If you are considering opening up a business, have a QuickBooks Pro Advisor involved early on to ensure your business gets off on the right foot.
