Entries Tagged 'Personal Finance Help' ↓

Do I need an accountant to create a business budget?

I’m a big fan of accountants, but that’s mostly because I don’t like taking the time to figure things out. When it comes to money, I’d much rather listen and follow the advice of an expert than to try to learn it on my own.

However, when you’re creating a business budget, you may not need an accountant. Here’s how to decide whether or not you want to go it alone.

#1: Do you have a solid understanding about what expenses your business is likely to encounter?

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Do you balance your checkbook?

Recently I had an eye-opening experience. I was sent an invoice for something I had already paid for. When I contacted the company, the representative asked me what the check number was on the check I sent.

I gulped. I didn’t keep track of my checks, let alone balance my account. It seemed like way too much work. I’m not an accountant, after all.

I had to swallow my pride. “I don’t know,” I said. “I don’t track my checks.” What could she say to that? All I could do was wait for the check that I was sure I wrote to clear the bank, and call them back.

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