No business proprietor can manage properly what they haven't measured properly. Possession of accurate information is fundamental to making proper decisions.
Management accounts (in the absence of KPI's etc) are the basis of most management decisions - but to be effective they need to be accurate and up to date.
We operate an accounting bureau to help take the strain where clients do not have the staff, expertise or resources to maintain regular and up to date accounting functions. And once the client is 'large' enough to employ internal accounting staff we 'hand back the records - system and all. Many of our clients have found this to be a huge advantage, especially the payroll responsibilities.