Last year, my business account is really in the mess. I do not have all the proper receipts and vouchers. Even my bank account statements were not properly kept and some got missing. I had to pay the bank to provide me a copy of the missing statements. All these is because of the income tax requirements.
Now, I make sure that all the transactions and payments are properly recorded. It takes a great effort on my part as I am not the administrative type of worker. I am happy as all my business accounts are all recorded properly and is up to date.