01/8/19

Accounting Thinking for Startups

I hate accounting, but I love orderly accounts. I love it when the checkbook, the bank reconciliations, the cash receipts/disbursements journals, and the balance sheet all agree. Takes a bit of sleight of hand to make that happen, but I love it.

As a startup CEO, you need to get a good handle on how accounting works. This blog post is not going to teach you accounting, but it is going to give you the Stations of the Cross as it relates to what you do from the perspective of accounting.

Ready?

First, accounting can be a little time consuming and boring. As a CEO, never, ever, ever get involved with it. In your early days, hire an arm’s length bookkeeper and have them put your operation together on QuikBooks. [Pro tip: You could run the Pentagon on QuikBooks Enterprise, so don’t let anybody tell you it isn’t robust enough for your enterprise.]

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