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Advantages of Good Bookkeeping

Many people find it expensive hiring an accountant or book keeper. However, it has been proofed that 90% of businesses which do not maintain proper books of accounts fail. The main reason is owners or directors of these organizations use cash as a means of managing the business. Why is this risky? Cash in the business does not amount to profits and that's why when the owners feel that the business is solvent and in good health they eventually cannot manage the outstanding liabilities.

Business reports helps you determine how much profits you have made during a period and how much you have received in terms of cash and account for the amount spent. This will help the owner budget of cash requirements in the future and even plan for external financing where necessary. If you need further details on what you will do to keep proper records, talk to us for a free consultation.

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