A well-designed Chart of Accounts is like a unicorn

I haven’t come across a truly organized one this month, last month, or even all year.

When I onboard a new client, I do more than just look at the numbers. I dig deep to find the facts. This week, while reviewing a client’s fixed assets, we discovered they had valuable assets they didn’t even know about.

This actually happens more often than you might expect.

Many business owners think modern accounting software can replace a knowledgeable bookkeeper. They believe that once the bank feed is connected, the books are finished.

In reality, software can replace physical ledgers and pens, but it cannot replace professional judgment.

Software can record transactions, but it cannot tell you:
– Whether a large purchase should be capitalized or expensed.
– If your Chart of Accounts truly matches your business model.
– If the data you see is reliable enough to support a $100,000 decision.

A tool is only as good as the person using it. If you want a dashboard that truly reflects your business, you need more than a subscription. You need a partner who knows the right questions to ask.