However, "For many family businesses, the genesis of their 'accounting system' was a shoe-box filled with receipts and notes to the bookkeeper scribbled on napkins and an assortment of note pads - and those are the ones that are well organized!" according to top family business expert Don Schwerzler

"At start up and in the early years for many family businesses, the accounting information system is seen as an expensive and time-consuming exercise – part of the process in dealing with the most invasive and feared of all government agencies, the IRS!"

Schwerzler has been studying and advising family business entrepreneurs for more than 40 years and he is the founder of the Family Business Institute While some family business entrepreneurs see the accounting information system as an important business building tool - that perception, unfortunately, is often the exception to the rule.

However, the fact is that the accounting information system IS an important building tool for every family business – and having that tool in your family business toolkit makes good sense (cents)!

The accounting information system we recommend to our clients is QuickBooks. It is affordable and easy to use. By understanding how best to use QuickBooks, you can grow your family business in size and profitability while reducing your accounting and tax preparation costs.