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.

Bookkeeping is without a doubt one of the most tedious administrative tasks that consumes a significant portion of small business owners’ time. As they are not aware of the benefits of cloud-based bookkeeping, many small business owners choose to maintain their accounts in excel spreadsheets and fail to harness the power of cloud accounting. When done right, cloud-based bookkeeping frees up small business owners’ time to run and grow their businesses. In this blogpost, we outline the components of good bookkeeping and the massive cost savings it can bring you when you move your bookkeeping to the cloud.