Can you successfully run your own business without any accounting

>>3385232
yes.
just hire an accountant.

>>3385232
thats what I want to know, there was some udemy courses I started watching... shit is fuking confusing I think

>>3385232
Same question as "Can you successfully use your own toilet without any plumbing knowledge".

Accountant here. Yes, you can. Just use something simple like Quickbooks.

>>3385614
Let me guess; You came upon the "debit can increase shit on one side but decreases shit on the other side. Likewise, credit decreases shit on one side and increases on the other side."

WTF. So convoluted.

>>3385819
It's called normal balance and its essential to balancing revenues and expenses.

>>3385803
>can you successfully service and operate a toilet without plumbing knowledge?

>>3386066
Yeah but having been exposed to the concept of "credit increases value" and "debit decreases" value in normal day to day life, it's difficult for non-Accountants to wrap one's mind around it.

Any shortcuts for how to remember when you debit / credit increases or decreases?

>>3386082
aed=lrc


welcome to the first day of ACCT 1001

>>3386082
You do the logic. Debits must equal credits. Like how Owners equity has a normal credit balance, it increases with a credit. So if it increases with a credit therefore it decreases with a debit. So your expense accounts will increase with a debit because you're reducing. Revenue goes up with a credit because you're gaining.

>>3385232
Yeah. It's called cash basis accounting. If you don't have to issue financial statements, then you don't have to worry about accruals. You should try to understand finance in order to make sure you are making the best use of your money.

>>3385232
Hire an accountant, seriously. Work you'd spend 10 hours on, he'd do in 20 minutes. If you calculate by hours of your life saved, instead of by $ paid per hour, it's the best deal you'll ever make.

I tried doing it myself for about a year, what a fucking relief it was to dump all that SHIT on someone else.

>>3386156
also OP; welcome to the first lesson of Econ 1001. A rational economic participant will work at something they are skilled at to earn money, to pay people to do things that the individual is not skilled at.

Yes
But low and sell high

Even poor bugs can sell weed to highschoolers

You will bleed money and get robbed eventually. Learn your shit.