As a small business owner, you’re likely concerned about every penny you spend. That’s a good thing, because you need to keep track of your income and expenses. It also means, however, that you might be less likely to hire people who can help your business. People like bookkeepers, who are great investments for any small business.

There are some things in life that go together well and others that definitely do not. Business and personal finances are in the category of items that should not be mixed.

A Canadian bank recently surveyed over 500 small business owners about what they love and hate most about owning their own business.

Unsurprisingly, flexibility and feeling in control ranked first in the “love” category. Meanwhile, almost 60% said bookkeeping was hands-down their most hated task.

If you’re like most people you’ve probably gone for periods of time without really thinking about how you spent your money. Maybe you even avoided looking at your bank statement so you wouldn’t see how much money you spent and how little you saved.

Everyone likes making money, especially small business owners. Invoicing, however, is typically one of the tasks that small business owners like the least.

No one really likes talking about their death, which makes updating—or even writing—a will an unpleasant experience. Often, people put off thinking about their will for another day, assuming they have a lot of time to deal with it.

Small business owners know that to find a loyal customer base, they have to stand out from their competitors. One of the best, and easiest, ways to do that is to have outstanding customer service. How you treat your customers reflects your entire business.

Healthy cash flow is important for any business, but particularly for small business owners in those first few “make it or break it” years.

Business owners who set clear payment terms with their customers, invoice quickly, and follow up on late payment can avoid the dreaded cash flow crunch that can quickly put them out of business.

These simple guidelines for setting payment terms can help you get paid quickly and maintain a steady cash flow.

Most small business owners who use accounting software quickly master the basics. They automate processes like invoicing and payroll, track expenses and view real-time financial reports to manage cash flow and make better business decisions.

But what many business owners don’t take advantage of are key insights that can improve customer care and increase sales. Here are some smart ways you can use your accounting software to help boost your bottom line.

Keeping track of sales, earnings, expenses, and purchases is fundamental to the overall health and sustainability of your business. Effective bookkeeping produces the data you need to evaluate your current practices, anticipate challenges, and set attainable future goals.

But despite their proven importance, many business owners dread and avoid accounting tasks. In fact, 40% of surveyed entrepreneurs claim that bookkeeping is one the worst parts of running a business!

Wondering if it’s really worth the aggravation?

Here are four reminders of how effective bookkeeping is the cornerstone of small business success.

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