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Who Can do the Accounts?
To be a good bookkeeper you do not need to have 12 years of education.
Although it is nice to have education, but it is more important to be an honest person and have a careful and cautious way of thinking. Basic knowledge of using a PC would also be appropriate.Take your time
Most of the mistakes made in accountancy are made because the one who makes them does not take the time to look properly at the voucher and to transfer the right figures from the vouchers into the bookkeeping programme. This you do not learn in school. It is a part of your personality and way of thinking.
With a basic education and a careful and cautious way of thinking most people should be able do the accounts of a small company.
Delegation of authority
If your business has grown to 5-15 persons it is not practical or time-efficient to expect that you should make all the decisions and authorise all transactions yourself. You have to delegate authority to members of staff.
In order to protect the ones to whom you have delegated authority and to
prevent temptation and to mis-use of your assets there must be a separation of
the different duties in the company.
- Go to next business issue: Account Plan
Accounting was the course that helped me more than anything.
- Julian Robertson, hedge fund veteran
