Should you do your own bookkeeping

(This article is a reprint of an earlier article that is no longer available on the internet. I am reprinting it here.)

Bookkeeping is a job that most business owners can handle themselves. Unfortunately, most business owners would love to forget about bookkeeping.

Should you spend your time focusing on core business activities or organizing and tracking receipts? Many business owners underestimate the amount of time it takes to track a company’s fiscal details especially in small business settings. Owners can get wrapped up in attending to every aspect of day to day operation of their business that there is simply no time left for bookkeeping. The success of any business depends on keeping track of your income and expenses, thereby improving your chances of making a profit.