By show of hands, who here would rather work IN your business (e.g., finding clients, working on challenging matters, growing your network) rather than ON your business? Looks like a few “ONs” but mostly “INs” from here. The fact is, however, that you have chosen to start your own business (or to partner up with others) and there is no escaping the need to work both IN and ON your business.
Overall Accounting Rule of Thumb: You have two choices - you can either manage the basic accounting needs of your business or you can pay someone to do it. Where is your time better spent?
Here are some best practices collected from years of personal experience, client input and thought leaders in the accounting world: Check it out here!