Tips from TAP – Need for bookkeeping

We need bookkeeping because it’s the only way for a business to grow and flourish. Bookkeeping is the backbone of the business financial world.
Bookkeeping is an organized method for record keeping that has been around almost as long as the trade and business industries.
Did you know that the knowledge and principles upon which the first bookkeeping practices were established have changed very little in the many hundreds of years that bookkeeping has been in use? Today’s bookkeeping functions are still based on the concepts of assets, liabilities and income and the need to reconcile these areas.

Although the concepts are the same, the processes have changed over the years. The creation of computers and bookkeeping software have changed and streamlined the processes. The end result is still the same. Bookkeeping gives businesses the financial snapshots needed in order to make solid financial decisions for the growth of the businesses.

What do you think?

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