Why do people overlook record keeping in business?

[Fidelia]

I have seen seasoned business persons that struggle to keep business records. They seem to be doing everything about the business management right but are lacking in keeping of business records.

Why do some business persons overlook record keeping?

 

[magnus2022]

Any business owner who don't value book keeping is not yet ready for business. Book keeping is the foundation of sound business management. I have not seen any business owner who have achieved great success without proper book keeping.

 

[King Belieal]

Some businesses just believe that they can remember everything that happens in their business every day. That's why they would ditch book keeping.

 

[Suba]

I often encounter small business owners who don't keep financial records. This is due to many factors, including a lack of bookkeeping knowledge, a tendency to rely on memory, which is often flawed, and the perception that recording business transactions is complicated and tedious.

 

[eLdavis]

I think most of them overlook this simply because they do not understand the importance of having records.