It is such a good thing to normalise keeping financial updates and records of a business in order to be accountable for any form of profit or loss in the business sales. It has a lot of advantages to mention but a few; part of the purpose of keeping financial records also includes that you get to figure out where a debt/loss has been incurred as a result of one thing or the other. You also get to know the amount of profit you are making at a given point in time of a particular period of time. While record keeping in a business also serves as reference during the process of reviewing and analysing data involved at the end of each transaction in a business.