Meaning of the word "good accounting makes good friends" in English

What does "good accounting makes good friends" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

good accounting makes good friends

US /ɡʊd əˈkaʊntɪŋ meɪks ɡʊd frendz/
UK /ɡʊd əˈkaʊntɪŋ meɪks ɡʊd frendz/
"good accounting makes good friends" picture

Idiom

the idea that clear financial arrangements and the prompt settlement of debts help to maintain healthy friendships and prevent disputes

Example:
We should split the bill exactly as we agreed; after all, good accounting makes good friends.
I prefer to pay you back immediately because good accounting makes good friends.