
Keeping excellent books for your small business is absolutely essential. Here are ten benefits you can obtain by keeping good accounting records.
1. Detection of errors and fraud
Bookkeeping helps in checking for the presence of errors and fraud in the accounting systems. Not only should you do your bookkeeping regularly but you should also separate tasks such as receipting money received into the business and banking it, and ensure that employees have strict limits on the amounts they can spend.
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