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According to study conducted by a U.S. bank, it was found that 82% of business owners are unable to succeed due to poor control of cash flow. A good accounting system is crucial for any business with limited funds to efficiently control the financials of their business and set their business up to be profitable.

Small-business accounting is the set of financial practices to track and control the business's finances, such as inventory and cash flow tracking. Look over this article to get an overview of the fundamental accounting practices for entrepreneurs with limited resources to understand.

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