The importance of maintaining proper books of accounts and sound accounting practices has been emphasized in ensuring proper financial management in Small and Medium scale Enterprises (SMEs).Therefore, the study, investigated the record keeping strategies utilized by a sole proprietress in Kantamanto, Accra (Ghana) based on the responses of a structured interview. The study used the qualitative method of data collection to determine the types of records the proprietress keeps of her business and to find out the challenges faced by the proprietress in recordkeeping. The target population of the study was the proprietress of Aggie’s Entertainment Field in Kantamanto. The study found that the proprietress does not keep accurate accounting records due to her low level of accounting literacy and formal education, the perceived high cost of hiring professional accountants and the start-up capital factor. As a result, there is poor use of accounting information to support financial performance measurement by the proprietress. Due to this, the study recommended that the government and the Musicians Union of Ghana(MUSIGA)should come up with efficient and effective training programs and workshops for training the SME entrepreneurs and proprietors like her in the industry and in the country as a whole to sensitize them on the need to maintain proper books of accounts and also educate them on the basic accounting principles that can help the layman to manage their businesses, solve management problems that come up and also teach them to appreciate the essence of record keeping and the benefits associated with it.