Why should I keep records? keep up with your accounting you have been filing your taxes Why should I keep records? accurate records of all financial transactions IRS internal records detailed and extensive records detailed and extensive records keep accurate records record of sales keep all the receipts detailed and extensive records Why should I keep records? detailed and extensive records track of financial records Why should business owners keep records? Organizing your finances for legal purposes detailed and extensive records detailed and extensive records good records Tracking a company’s income and expenses According to the IRA keep accurate records keep better financial records