Bookkeeping is important for your business because:
1) It allows you to know if your business is profitable or not
2) It allows you to know where your money is going every day, every week, and every month
3) It allows you to get better information so that you can make better decisions
4) It allows you to know who you owe money to, who owes you money and if you have sufficient funds for your future operations
5) It allows you to be compliant with taxes, file your tax returns on time and avoid penalties and interest from tax agencies
6) It may allow you to get better financing terms