Most small business don’t have enough time to dedicate themselves in maintaining proper records which results in poor bookkeeping. The tedious and mundane task of bookkeeping can often take up hours and hours of time. This is the primary reason that well over one-half of all small business owners do not keep their finances up to date on a monthly basis. Bookkeeping, as mundane as it may appear, is actually your biggest secret weapon when it comes to business management and growth.
Improper record keeping: improper receipts and record keeping is very common among small business. They often forget to lose receipts and fail to record small expenses that seem to be insignificant.
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