Take Care of Bookkeeping When Starting a Practice

Camala Bailey, CPA, CVA, at Camala C. Bailey, CPA, PC, discusses why having the bookkeeping and accounting done when you start a practice is imperative.

Interview Transcript (slightly modified for readability)

"One of the things that I think is very important as you start a practice is to actually look and use financial statements, actually have bookkeeping done. It’s an inexpensive way to have financial statements produced that you can look at and determine what is going to make the most sense for you to do as you go forward financially. How do you know if you can afford to buy a piece of equipment if you don’t have financial statements on a regular basis? I think as a startup or even as you transition into purchasing a practice, having the bookkeeping done and having your accounting and financial statements is imperative.”