Is it difficult to do you own accounting if you haven't done it before?

1. 60

   Terje Sannarnesposted 13 years ago

   Is it difficult to do you own accounting if you haven't done it before?
   
   Many small businesses have the possibility to do there own book keeping and accounting. Do you do your own accounting or do you outsource it to professionals. I have outsourced mine, but consider to do it myself, convince me on what to choose. Please!
   
   

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2. 60

   tmgoldmarketingposted 13 years ago

   Absolutely. I actually do my own and I have to tell you I really do not like it. Learning quick books alone is a pain. Then doing my taxes is no fun at all. You really need to like numbers in order to do it and really get into it. That is one job I would not like to have. Sorry to sound so negative but keeping the books is a real sore spot with me. Good question Terje.

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3. 60

   rich_haylesposted 13 years ago

   It depends on the limits you reach.
   I have just done my 2nd year accounts and hit the VAT limit (in the UK). If you go over a certain limit in earnings and depending on your business (Im a self employed business owner) you will benefit from a professional.
   I did my first years accounts on my own, was easy enough if you are organised. Accountants will generally save you more money than you pay them, so I would recommend working out your return and getting them to verify it.

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4. 61

   Andrew Goodfellaposted 13 years ago

   Don't even try without first going on an accounting course. Even if you have accounting software it will not do the work for you unless you understand the fundamentals of how accounts work.

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5. 61

   jenniryanposted 13 years ago

   I was just looking into that myself. I have avoided it for a couple of years. Now i seriously need some help with it. I dont like doing it, and its not productive of my time. I will be looking at outsourcing.

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6. 61

   ts.erlandssonposted 13 years ago

   I doit by myself. It is easy when you know howe to do it. In Sweden we have lots of good books in how to doit.Our tax department also have  courses in how to take care of the book
   accounting

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7. 60

   Jan Fowlerposted 13 years ago

   I would never, ever want to do my own business taxes. There are too many things that I could get wrong, both in my favor and against me. I believe one needs a professional that is up to date on all the tax laws and what you can and can't deduct, etc. Outsource!

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8. 60

   Mavis Nongposted 13 years ago

   I leave this to professionals. I want to make sure that everything is done properly and accurately. Plus I just don't have the time now.

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