How to Set Up a Small Business Accounting System

Many small business owners (myself included) tend to focus on the more glamourous aspects of their business eg. sales, marketing and product/service development.  As a result, accounting often does not get the attention it deserves.  In addition to the perception that an accounting system does not necessarily add value, it can also be a little intimidating.  However, there are numerous benefits to setting up an accounting system and it can actually be fairly straightforward especially if you have some help with setting it up.   A good accounting software tends to handle most of the complexity of accounting as long as the data is compiled and entered accurately.