Top Small Business Accounting Errors — Idea to expand on?
Accounting software has made record keeping easier for small business and at the same time creating new common accounting errors as well. Some may be insignificant and easy to correct while other errors can be more serious. Over a period of time, these repeated errors will accumulate painting a distorted picture to the true state of your business health.
Below are some of the most common small business errors:
- Managing all your accounting yourself. By not having an accountant you may be missing a huge opportunity to saving you serious money.
- Not balancing your books with your real accounts. If you overlook this crucial step, you may be running the risk of your books being correct and accurate.
- Projecting future income as cash flow. You may be tempted to record income before a contract is completely done not knowing any unexpected expenses that may occur.
- Not taking your bookkeeping seriously. Every receipt counts no matter how small as this creates an accurate picture of your company’s health
- Not keeping your bookkeeper in the loop. Communicating with your bookkeeper what certain transactions are exactly for.
Our accounting services are tailored to your needs. We offer a wide range of accounting, bookkeeping and taxation services that will help you grow your business. Let us take care of all the details so you can focus on what matters most – running your company!
We’ve been providing professional accounting services for over 20 years and we know how to get the job done right. Whether it’s tax preparation, financial statements or payroll processing, our team is ready to tackle any task with accuracy and efficiency. And because we work closely with other professionals such as lawyers, bankers and insurance brokers, we can provide a complete package of solutions for small businesses like yours.