Were you aware that out of all the new businesses established each year, that only 20% of them make it through their first year? And of that twenty percent, only half of them survive 5 years. Even though there are plenty of reasons why they don’t succeed, in many instances it relates directly to finances.

As money is required to operate, entrepreneurs must not only learn how to generate profits but manage those profits accordingly. Accounting and bookkeeping, for this reason, are of the utmost importance to a company’s lifespan.

Why DIY Accounting Isn’t Always Efficient Enough

It is not uncommon for an entrepreneur to take on accounting and bookkeeping responsibilities in the first few years of their establishment.…