Possibly. Just like I don’t drift into nanotechnology research, you shouldn’t underestimate the importance of accurate data. For example, inadequate timekeeping approvals, transactional coding, and poor accounting structure lead to major problems down the road. A streamlined accounting system will help you fully understand how your data flows leading to effective decision making and grant and indirect rate management. Maintaining inaccurate information just doesn’t make sense. However, rest assured, many startups and small businesses have very “interesting” data.
This is myth #6 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