Running a business is a tightrope walk. Paying salaries in a timely manner, conference overhead and generating profit to name a few is a burden. The regulation mandates that you pay your taxes in a timely manner as well as also manage your books correctly. It resembles juggling balls while doing a tightrope stroll. Because, there is a lot to manage. From payroll to taxes, bank reconciliation to deduction of taxes, the list is long. To make issues worse, every solitary blunder is punished and numerous businesses finish up paying hefty penalties due to such errors.