The phrase “You can’t manage what you can’t measure” is often attributed to W. Edwards Deming, the statistician and quality-control expert credited with having launched the Total Quality Management (TQM) movement. This adage definitely rings true when it comes to the measurement of a company’s financials in order to assess its profitability. ⁠In this blog post, we highlight the components of a good bookkeeping system, and the importance of a proper bookkeeping system to your small business.

Accounting is full of technical jargon and unfamiliar terms that can be frustrating to small business owners. This is perhaps one of the main reasons why small business lack confidence when it comes to bookkeeping. In this blog post, we highlight some of the commonly-used accounting jargon so that you can feel more confident when speaking to your accountants or bookkeepers!