Is it possible to run a business without accounting software such as QuickBooks, Sage, etc.?

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asked May 22, 2019 in Cell Tracking by ItsBeckahm07 (12,720 points)
provides accurate cloud-based and on-premises accounting solutions. But, like every other manmade solution, QuickBooks may at times act weird

1 Answer

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answered May 23, 2019 by Munro1998 (9,540 points)

Yeah. It's a long and tedious process. You need separate income and expense accounts, a general ledger, a double balance accounting system, income statement, balance statement, and cash flows statement. If you have employees, 
you also need employee wage accounts with their associated tax accounts. It's done initially by hand in pencil and then finalized in an Excel spreadsheet.

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