You are giving your accountant too much power..... Dear Entrepreneur, the business is yours - act accordingly!!

Over the past few months, my team and I have spent countless hours reviewing management accounts and financial information from entrepreneurs across different industries. And I need to say something: the quality of accounting work we're seeing is deeply concerning and bothering.

I'm not talking about the odd mistake. We all make mistakes. I'm talking about a pattern. Expenses allocated to the wrong accounts. Invoices captured in the wrong financial periods. Supplier balances that don't reconcile. VAT inaccuracies. Late submissions. Management accounts that don't reflect the reality of the business. Entrepreneurs making million-rand decisions using numbers they shouldn't trust.

My friends, this is not just an accounting issue. It's a business issue. When financial information is wrong, everything that depends on that information becomes wrong too.

• Cash flow decisions become flawed.

• Pricing decisions become flawed.

• Hiring decisions become flawed.

• Funding applications become flawed.

• Tax calculations become flawed.

  
  

Eventually, someone has to pay the price. And unfortunately, it is usually the entrepreneur.

Accounting Is Not About Compliance. It Is About Decision-Making.

Far too many entrepreneurs think an accountant exists to submit VAT, prepare annual financial statements and file tax returns. That is the absolute minimum.

A great accountant helps a business owner understand the story behind the numbers. They explain why profit has dropped. They identify cash flow risks before salaries become a problem. They question unusual expenses. They help entrepreneurs understand margins and they make sure transactions are recorded correctly the first time, because they understand that today's bookkeeping becomes tomorrow's business decision.

Accounting is not data capturing. It is one of the most important advisory functions inside a business.

Entrepreneurs Need to Ask Better Questions

Entrepreneurs also need to stop assuming that because someone is an accountant, everything must be correct.

Ask questions. Review your management accounts. Understand your numbers. Know why your VAT amount is what it is. Know why your profit changed. Know why your creditors increased. Know why your debtors are outstanding. Your financial statements should never feel like they are written in another language.

If your accountant cannot explain your business numbers to you, they are not adding enough value.

Accountants Need to Get Closer to Their Clients

This is probably the biggest concern I have. If you're providing monthly accounting services but you haven't sat down with your client to discuss their numbers... What exactly are you delivering?

A set of reports? Or business insight?

Every month should include a conversation.

• What changed?

• What improved?

• What is worrying?

• What should the entrepreneur focus on before next month?

• Where is cash leaking?

• Where are margins improving?

• What decisions need to be made?

Management accounts should never simply arrive in an email. They should start a conversation.

This Is Bigger Than Compliance

Poor accounting doesn't only affect financial statements.

• It affects VAT.

• It affects PAYE.

• It affects income tax.

• It affects SARS compliance.

• It affects supplier relationships.

• It affects funding opportunities.

• It affects business valuations.

• It affects growth.

  
  

One incorrect allocation today can become a much bigger problem tomorrow.

My challenge to entrepreneurs:

Stop outsourcing responsibility for your finances. Even if someone prepares your numbers, they are still your numbers...Understand them, question them, and use them.

To accountants:

You are not simply preparing reports - systems and AI tools can do that. You are helping entrepreneurs build businesses, create jobs, and make decisions that affect families and communities. The standard matters. Accuracy matters. Timeliness matters. Conversations matter.

Because behind every set of financial statements is someone's dream. Treat it that way.

Yours in completeness and accuracy of accounts,

The Business Doctor Keitumetse Lekaba