Keeping accurate financial records is essential for small business success. Bookkeeping involves more than tracking the money coming in and out of the business. It also monitors who owes the business money, money the business owes to others, as well as business assets such as equipment. Further, bookkeeping isn’t just about keeping records for tax time. It can provide important financial details needed to make business decisions, such as whether to expand or whether expenses are providing a return on the investment.