How do you eat an elephant?
The accounting or administration side of any business is much like eating an elephant. Here is why:
1. It does not happen quickly. It does not (at least) should not. Keeping accurate and complete recordsis a long process done slowly. Not slowly as in takes a long time but rather because it is done a little at time. One brick at a time in bricklaying terms.
2. You must have to right tools. There is no use in starting to eat an elephant with a knife and fork. With the technology available today, you should attack your accounting requirements with a pencil.
3. You must be informed. Again, you cannot just eat an elephant. Just like you cannot just “do” your accounting and expect it to be up to the required standards. These are standards set by South African law. An accountant is an expert in this area and will guide you through these standards and keep you compliant.
So, how do you eat an elephant?
There are 2 answers to this:
1. One bite at a time!
2. Get someone to do it!