Hello nairalanders,

Accurate bookkeeping allows you to see whether or not your business is actually making a profit. It is surprising how often business owners fail to keep track of this but it is obviously extremely important.

Bookkeeping also allows a business owner to have a greater understanding of how much progress has been made. You can look back and see patterns and draw comparisons with previous business years.

This can provide a greater understanding of the areas within the business which make a profit and where costs might be trimmed. This kind of financial analysis can help you to avoid problems in the future.

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