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If you have a small business of your own, it's a possibility that you are doing all bookkeeping activities on your own in order to save money.

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One of the reasons of the failure of small businesses, especially in their first 5 years of operations can be stated to be due to improper monetary planning. Thus, whatever has been said above are hard facts and not mere exaggerated statements.

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For a clean exit bookkeeping is essential since the prospective buyers need clean financial records for at least the last few years of operation.

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Hence, a businessman now need not focus on the confusing financial statements any more. Instead, he can concentrate on the different ways in which he can reduce the tax liability.

One can thus say that bookkeeping is by essence too crucial for any business to dismiss. Hence a good idea would be to outsource it externally to an expert if one cannot do it on his own.

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