Having a correct and updated data on your finances is as important as the business itself. Regardless of the size of your business keeping the financial records is essential. Seventy percent of the businesses fold in the first three years due to financial mismanagement, and one factor of financial mismanagements is the bad bookkeeping. If you cannot keep a correct and up-to-date financial data, your business is destined to fold. Keeping track of the financial records is not an easy task. That is the reason why professional bookkeeper and accountants exist. Professional accountants and bookkeepers are trained to and handle the task of organizing and storing of accounting and financial documents such as journals, ledgers, income tax records, financial statements, and more. However, many business owners, especially the small and startup entrepreneurs opt to do their own bookkeeping. Let’s take a lot of the pros and cons of doing your bookkeeping DIY style: The Pros In