The profession is not dying; instead, it's evolving to meet the demands of the 21st century. Bookkeeping has been a vital component of business operations since ancient times and continues to adapt to the dynamic landscape.

Officers, employees, accountants, and other individuals involved in bookkeeping fraud can face charges and individual claims based on negligence, fraud, breach of contract, and breach of fiduciary duties.

If you have a bookkeeper do the job properly in the first place, you'll save money in the long run. Even if you prepare your own monthly financial statements and deliver them to your accountant come tax time, you risk being charged extra if they need to correct any errors.

However, doing financing tasks yourself may do more harm than good. A bookkeeper can help a business owner manage day-to-day finances. These experts monitor cash flow from different accounts, bills and invoices and can organize your books to improve money management.