Not a good idea. Showing the government a working system helps demonstrate compliance, as well as trains you and your staff the importance of properly coding transactions, recording time, and billing the government. In other words, this becomes part of your company’s culture. Waiting always costs you more money because there are transactions that need to be corrected, accounts that need to be restructured, and payroll and billings that need to be reconciled. Not to sound too much like a sales pitch, but you can pay less now and more later.
This is myth #5 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