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We’ve been Setting Up, Cleaning Up, and Keeping Up our clients’ bookkeeping long enough to notice some common mistakes people make. The good news is these can be easily avoided. 

Putting off your bookkeeping. 

This is something we often see, whether it’s from lack of interest, time, energy, or knowledge. People let their piles add up until it becomes a maze of entering all the money that has been in and out. Not doing your books will only make the situation worse! Staying on tops of your bookkeeping is vital. 

Having one account for business & personal. 

Having one only account for both business and personal weaves a complicated web! Every statement becomes a game of guessing if something was a business or personal expense. Reconciliation becomes an absolute headache. 

Entering information incorrectly. 

It’s easy to fat finger your keyboard or misspell a company or client name, but by taking the time to double and triple-check your entries, you can save yourself a mess later on. Inaccurate books are a nightmare to fix. Save yourself the time down the road by taking the time today. 

Not categorizing expenses. 

Failing to categorize or inaccurately categorizing expenses can lead to a mess within your books. Your financial reports and their measurements won’t necessarily be correct if transactions and expenses are labeled incorrectly or not at all. Categorizing your expenses help

Mistakes can happen in your books, no matter who you are. It’s important to know why your mistake happened and how they can be avoided.