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Having a bookkeeping journal is important to running any business for several reasons. 1. You should be able to keep up with your spending through the journal. 2. You should also know what is coming in at any time so you can compare to dates later. 3. You should always know where your money stands in the business. You can use the journal to see where you are spending, where you can cut back, and how much you have available at any time.