There is a belief held by a surprising number of small business owners — good, intelligent, hardworking people — that bookkeeping is an expense to be minimized. A cost to be delayed until the business is "big enough." Something to handle yourself to save money.

I understand where that belief comes from. Cash is tight. Every dollar matters. And bookkeeping, unlike marketing or inventory or payroll, doesn't feel like it directly generates revenue.

But that belief, held long enough, is one of the most expensive financial decisions a business owner can make.