The Wholesale Forums

[pro-print]

I'm talking in reference to the situation of the guy from original post. Obviously if things took off then an accountant would be essential.

[RWA]

I would hire an accountant anyway, at least you get your business started off on a sound footing.

[pro-print]

We'll just agree to disagree

[studio1one]

the guy doesn't know what profit is and you're recommending he does his own accounts?

[pro-print]

If I were you I wouldn't bother reading the entire thread either.

[studio1one]

I did.

If you don't even have a basic grasp of profit and loss then I don't see how you can expect to not use an accountant, even if things don't 'take off'.

[pro-print]

Ok

[successjourney]

It is in your best interest to learn some basics. 'Basics' are called as such cos anyone with a half brain can do....

IMHO anyone who is running business should know the numbers! Without knowing 'Revenue' and 'Cost', you can't measure your perfomance. Without knowing your performance, how will you know if you are on the right track or if it's time for a dramatic change? No guess work. Number says all.

It may seem daunting at the beginning but I really think you should learn some basics. Too important to leave it all to an accountant.

[papverpoppies]

A good accountant is vital, once you are up and running - and making money because by then - you will not have the time to do it ALL yourself.

Just find a good one!

I know someone who has just gone bankrupt because they tried to do it ALL themselves. Sadly, although good at the business they ran - they were lousy at book keeping and paying bills etc etc - they had NO idea if they were making money - the paperwork was stacked sky high.



Poppy

[successjourney]

Originally Posted by papverpoppies

A good accountant is vital, once you are up and running - and making money because by then - you will not have the time to do it ALL yourself.

Just find a good one!

I know someone who has just gone bankrupt because they tried to do it ALL themselves. Sadly, although good at the business they ran - they were lousy at book keeping and paying bills etc etc - they had NO idea if they were making money - the paperwork was stacked sky high.



Poppy

They had NO idea if they were making money! In my book, they were NOT good at running the business then

Running business involves Sales, Purchases, Marketing, Personnel, Accounting and etc as a whole. True, you can't do all this. But it has to be YOU who sets up the system in your business.