Not true. While QuickBooks can solve many problems and lead to an adequate accounting system, there are other requirements that can’t be handled by the software such as rates, labor distribution, adequate timekeeping, contract limitations and more. What’s worse is if you use QuickBooks Online, you have a weak job cost system further exacerbating the deficiencies. So now you’re generating transactions, paying a monthly fee, and maintaining spreadsheets offline to help support a system that has a high risk of being out of compliance. There is definitely a better way.
This is myth #2 of our SBIR Accounting Myths blog series. George Moker is a CPA and an entrepreneur who brings a real approach to managing the accounting needs of your firm. George created this series of blog posts to his more than 30 years of small business and startup experience in an attempt challenge the myths about an adequate accounting system and its importance within your organization.
For more information on how we can help with your SBIR accounting needs, please visit us at www.mokercpa.com