Importance of Keeping Accounting Records...

 Keeping accurate accounting records allows a business to be able to…

ü  Prepare your financial statements quickly and accurately

ü  Provide information to enable the control of cash in the business

ü  Provide management information to base business decisions on

ü  Contribute promptly to assessing the financial situation of the business at any time

ü  Keep a good track of the costs of staff and their performance

ü  Measure the business performance against the projections in the business plan

ü  Highlight quickly areas where problems could arise and enable remedies to be put in place

ü  Fulfil tax obligations

ü  Assist you in calculating how much tax you have to pay

ü  Assist in providing information required by your bankers

ü  Help in detecting thefts within the business itself

ü  Provide valuable information and details for the future sale of your business

ü  Increase the chances of the business operating and achieving success