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Whether it is your own business or your personal savings or expenditure, it is important and necessary to keep a tab on all the money that goes in or goes out. If we don’t keep an eye on how we are spending our cash, it might put us in a serious financial pit of trouble even more so if you are running a business whose downfall or laurels depends heavily on the expenditure and the profits gained by it. This is why accounting is crucial to this scene.