Accounting, Entrepreneurs & Hearts

Accounting, Entrepreneurs & Hearts

Analogically, Accounting system to a business is a hearts to human. If the hearts is not functioning, the entire body will collapse. Perhaps, we use to see or hear that a healthy looking man suddenly collapsed because of hearts problem.

Entrepreneurs should not underestimate the effects of sound accounting system to their businesses. Adequate capital, effective marketing strategies, loyal customers, good business networking and quality services/products would not guarantee a life long success if the accounts are not being effectively managed.

Some entrepreneurs are reluctant to invest for a sound accounting system. For example, their businesses are growing and become more complicated. Yet, they do not have proper source documents for their transactions, records are updated when they've time, their files are everywhere (in the car, in the office, at home, etc.), salesman-cum-account clerk is hired instead of accounting qualified staff, and "loyal" to the manual accounting system despite off the effectiveness of computerised accounting system...

I'll discuss more about entrepreneurs and accounting system in my next posts.....