As a business owner, you're used to wearing a lot of hats. Salesperson, marketer, customer service representative, operations manager—and often bookkeeper. At first glance, doing your own bookkeeping seems like a smart way to save money. After all, how hard can it be to enter a few transactions and reconcile a bank account? The reality is that DIY bookkeeping often costs business owners far more than they realize.

For many business owners, the word "budget" brings to mind complicated spreadsheets, unrealistic forecasts, and numbers that quickly become outdated. As a result, budgeting often gets pushed aside in favor of simply managing cash flow day-to-day.

When it comes to taxes, bookkeeping, and financial advice, many people assume that anyone calling themselves an accountant has the same training and qualifications. In reality, that’s not always the case.