Bookkeeping is important because it helps you budget. Tracking your funds and expenses is easier when your income and expenses are properly organized. A budget allows you to plan for future expenses and the expected resources to cover those expenses.

Accountability and transparency are other benefits of accounting. Accounting allows you to search for transactions to see previously made prices or payments and create accountability.<br><br>

Bookkeeping also allows business owners to make informed decisions about their business as it provides “hard data”. This hard data is all about information about the progress or financial position of the business that is accurate and clear.