Shoebox (as it is called in most of the developed country) accounting has probably been the most followed practice across the globe to start your accounting activities. Its a great way to get started and till the time you are handling may be couple of transactions.
In this episode we talk about the dangers involved in following the shoebox concept and what impact can this bring to your business. The cost of non-compliance is increasing rapidly and multi-fold in India, and it could be a really costly affair to rely on shoebox accounting techniques. Watch this video to understand why you should move to a proper accounting system and put the shoebox to other important and innovative activities.