Explain how recording financial transactions can help to manage business finances.?

i am referring to a small newsagents, 3 line min.

Public Comments

1. You're joking, right?? The answer should be so obvious that I can only conclude that this is a homework question and you've not been paying attention in class! Back to the books!
2. Well you need to record everything to have your business annual accounts to be drawn up by an accountant for HMRC and to identify what you can claim as tax exempt. xx
3. Of course this is a homework question but we should still give some help. if financial transactions are carefully analyzed they can tell you which sales areas make most profit thereby allowing you to expand these areas and cut back on less profitable areas.