You will be able to see which items are tax deductible. You might forget about writing items off as deductions, such as lunch with a client, and let other deductions slip through the cracks, unless you have year-round bookkeeping in place.

Banks will need to see financial statements that show your expenses and revenue, otherwise known as an income statement. This is something you will be able to get through your bookkeeper.

Bookkeepers are able to catch bank errors, invoicing mistakes such as paying somebody twice, and those sneaky subscription fees you may no longer need, forgot to cancel, or never knew you had.

 Bookkeeping keeps track of your expenses which leads to better budgeting. You’ll also be able to better understand your cash flow so you can see what an expense is, versus a payment, a loan or a credit card. This will help you track how your business is growing and improving over time, and which months are busier than others, to help you plan for the future.