There are many components to accounting that, if done wrong, can lead to disaster for your IT contracting business. This is not only true for how you record the numbers, but also who manages them.
Depending on your strengths and time availability, it’s not uncommon for independent contractors to pass accounting work off to a relative, close friend or professional. Or, some prefer to manage it themselves to know it’s done how they want it done. What’s important is that you trust the right person to do your accounting, or you may end up in serious trouble.
In last month’s contractor quick poll, we asked our readers who manages their accounting and the results are split quite evenly between people doing it themselves or hiring a professional. Keeping in mind that everybody’s situation is different, do you think you should switch up who’s looking after your books?