Misconception leading to ineffectiveness Starting up a new business and you think it will be easy to manage in the beginning? Do companies who are earning huge profits need proper bookkeeping? Will it be no issue if you escape any minor transaction? Will utilizing custom accounting software be a bad and expensive choice? These are the issues that we ignore at first because we have the wrong answer to these questions. We assume that at the start, business transactions and dealings will be less so this will be much easy to manage. Whereas, the reality is different. Most of the time we prefer to manage everything manually except for using effective accounting software and end up with a mess. Continuous ignoring of minor financial transactions and dealings lead us to big differences. Then people fail to get what they expected in the beginning. Importance of bookkeeping for startup businesses As the bookkeeping process is essential for every business, similar startup...