Accounting may not be the most glamorous part of your company but it is very important. Setting up proper accounting procedures has great benefits. Proper accounting facilitates growth, reduces confusion, and provides a clear picture of performance. Without accurate and up to date documentation, you might soon find your business in trouble. Inadequate accounting procedures can lead to difficulty paying expenses, inability to plan for growth, and missed opportunities for your business. To avoid risk in your company, set aside a designated time to put your accounting procedures and documents in order. This can be time consuming but it is worth the time put ininvested. If you need additional help, a business accountant is trained to help or you can check out the helpful cheat sheet below from bplans.com.