10 Reasons Why Your Business Will Fail without Good Bookkeeping

Businesses can only thrive when they have outstanding bookkeeping. Good bookkeeping is the basis of a systematic cash management program tailored to specific business needs. It also makes sure that the rest of the business is running smoothly because cash is available, and documentation is done correctly.

Without good bookkeeping a business will fail.

Don’t believe me? Here are the reasons that any business will fail without good bookkeeping:

  1. A cash crisis is guaranteed
  2. Credit lines will be reduced and terminated
  3. Vendor relationships will be destroyed
  4. Client relationships will be ruined
  5. Constant chaos will haunt the company
  6. The IRS will become a nightmare
  7. Investors will sue and rebel
  8. The best employees will leave
  9. An owner’s health will deteriorate
  10. All hope will be lost

 

I’ve shown this list to a few people and they think I’m being harsh. What do you think? Read my explanations and then decide…

A cash crisis is guaranteed

If a company...

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