Accurate bookkeeping is essential to operating a successful small business. Unfortunately, it’s common for entrepreneurs to underestimate the importance of maintaining organized books and records. Common pitfalls include commingling personal and business bank accounts, relying on spreadsheets instead of accounting software to track business transactions and using personal credit for business expenses. Plus, some owners may fail to maintain organized records to substantiate expenses for accounting and tax purposes. The problems created by these pitfalls can have significant, lasting consequences in today’s competitive markets. Contact us for help building a solid bookkeeping foundation.
