Many small business owners believe that bookkeeping can wait — that their accountant will simply “clean everything up” at year-end before filing taxes. It’s a comforting idea: you focus on running your business, and the accountant handles the mess later.

Many small business owners believe bookkeeping is only necessary when tax season rolls around. They assume they can set aside receipts, invoices, and bank statements, then hand everything to their accountant or tax preparer once a year.

The Myth Many small business owners believe bookkeeping exists solely to prepare for tax season. In this view, bookkeeping is just about...