Business accounting involves more than maintaining books for tax purposes. Accurate accounting plays a vital role in helping you save money, increase profits, identify where budget cuts must be made and which areas need added resources.
Unfortunately, in an attempt to scale the business, most small business owners try to minimize the time and effort spent on accounting and financial management. As a result, they often overlook the little things that can have a huge impact on the company. This impact could be anything from a loss of financial flexibility to unpaid taxes, fraud, theft and even embezzlement.