Those who make themselves independent out of passion will soon be confronted with the bitter truth: the more successful you become, the less you can deal with your passion. Applications are jostling, advance sales tax returns have to be made, appointments have to be made and the accounting department is annoying. This limits creativity and takes time. It is particularly annoying that you can’t seem to hand over everything to staff – especially when money is tight. To get you a little closer to dealing with accounting, we have written this article for you.
Is Accounting really necessary?
The answer is clearly yes. The law states that you are obliged to keep books. To make the location of the company’s assets and business clear is also elementary for you. Make sure that you do it properly and according to the Rules of Accounting.
Bring Order to Accounting
First of all, you have to be master of your paperwork and keep everything clean. Then you should find out how much time the accounting will cost you and thereby find a way how the whole thing can be accelerated. Also create a schedule in which you write down when you do what. The rule here is: first work, then pleasure.
If you have neither the time nor the knowledge of accounting, it is advisable to get someone to help you. And don’t forget: trust is the be-all and end-all of outsourcing. When you hand in tasks, you also have to be able to trust that they will be completed to your satisfaction.
Help from Service Providers
Tax consultants, accountants or even accounting software can support you with your tasks or take them off you. However, for some entrepreneurs it is very helpful if they have a direct contact person, then the accounting software will probably be eliminated.
Before you even start looking for a service provider, you have to earn so much that these costs can also be covered. If you have found a service provider, then use the time you have saved to make more money, with which you in turn can pay a service provider who takes care of your accounting.
However, there are always Tasks that you cannot give up
Despite possible outsourcing to service providers, there are always tasks that you have to do yourself. This includes, for example, financing and cash management. As a founder, you should never lose sight of this. You have to have the numbers under control and check them regularly. This is important to have an overview of everything and to be aware of how the company is doing.
At the Tech Startup School you are not only prepared for what it will be like to run your own company, but you will also be accompanied in all steps of the start-up.