BENCH SMALL BUSINESS GUIDES Why bookkeeping matters 1. It ensures that you don’t miss out on deductions If you have immaculate books, then every transaction will be categorized for your CPA. The more information (and supporting documents) your CPA has at tax time, the more deductions you’ll be able to legitimately claim, and the bigger your tax return will be. 2. It can help you secure a business loan Thinking of expanding your business? If you need financing of any kind, having well-kept books gives lenders or investors a clear idea of your business’ current financial state, and allows them to make financial projections about your company’s ability to pay off your loan in the future. 4