Too often, employees, managers and owners of businesses think of a recordkeeping system purely as a means to measure financial performance. While financial statements such as income statements and balance sheets provide a standardized measure of financial standing and offer a basis for comparison against comparable businesses, perhaps their greatest value is as a management decision-making tool.
While there is value in electronic bookkeeping systems, the real value is in maintaining a record system that allows the business to make informed decisions about the future direction of operations.
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