It’s common for small business owners to choose to manage their own accounting needs. Unfortunately, it’s also common for small business owners to get distracted by all the other things they have to manage. It’s easy to put off recording receipts, invoices, etc. while assuming you’ll get to it “at the end of the month.”
Suddenly, the end of the month is upon you, and you still don’t have time to calculate payroll, prepare financial reports, or reconcile your bank account.
So you don’t actually end up doing your own accounting.