Preventing Common Bookkeeping Mistakes
Many of our small business clients in Denton, TX, just north of the Dallas-Fort Worth area, came to us with similar bookkeeping mistakes that had become such a problem, they finally gave up and asked for help.
It's a good thing they did!
They were making money, but sometimes didn't know how much. I could hear the stress and worry in their voices when we first spoke. A few worried that it was already too late to catch things up.
But that's all behind them now. Because we got them caught up and we keep them on track by taking care of the books every month. That allows them to work on their business without the stress of worrying about accounting and bookkeeping issues. That's the way it should be right?
If you're worried about your books and whether or not you're in compliance right now, let's have a brief phone conversation and sort it out.
Do you need bookkeeping services in Denton TX?
Call Me Today! (940) 391-4016
Common Bookkeeping Mistakes
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Not recording expenses
One of the most common bookkeeping mistakes is not recording expenses. This can lead to inaccurate financial statements and can make it difficult to track your business’s progress. To avoid this mistake, make sure to record all of your business expenses, even if they seem insignificant.
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Not recording income
Another common mistake is not recording income. This can lead to an inaccurate financial statement and can make it difficult to track your business’s progress. To avoid this mistake, make sure to record all of your business income, even if it is from a small source.
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Not using technology
Software makes the bookkeeping and accounting process much easier than doing it all manually. General accounting, invoicing, inventory control and even managing dinner and purchase receipts are all simple with the right tools and training. We can help you!
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Not reconciling bank statements
A third common mistake is not reconciling bank statements. This can lead to inaccurate financial statements and can make it difficult to track your business’s progress. To avoid this mistake, make sure to reconcile your bank statements on a regular basis.
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Not keeping track of inventory
Another common mistake is not keeping track of inventory. This can lead to inaccurate financial statements and missed opportunities. To avoid this, make sure to track your inventory regularly and adjust your inventory levels as needed.
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Doing it all yourself
You didn't start your business to become a part-time bookkeeper. If you're like our clients, you'll grow your business faster by focusing on what you do, and letting us handle the burden of managing the books. Call us today!
Bookkeeping Mistakes Cost You Money
When running a business, it's important to keep track of all the revenue and expenses. This can be done through a bookkeeping service. With bookkeeping services, you'll have someone maintaining your books and taking care of the tax filing. This can help you stay organized and avoid the stress of dealing with the financial side of things.
Bookkeeping is an important part of any business, yet it is also one of the most common areas where businesses make mistakes. By taking the time to learn about the most common mistakes and how to prevent them, you can help ensure that your business' finances are in good order.
One of the most common bookkeeping mistakes is not keeping track of expenses. This can lead to missed deductions and penalties from the IRS. To avoid this, make sure to track all of your expenses, including those that may seem minor. Another common mistake is not reconciling your accounts regularly. This can lead to incorrect financial statements and missed opportunities. To avoid this, make sure to reconcile your accounts at least monthly.
Why let worry over bookkeeping and accounting issues rob you of the joy of having a successful business? Let's figure it all out right away!
Let me manage your books so you can grow your business!
Bookkeeping for Small Businesses in Denton TX
I've helped many small businesses clean up, catch up and maintain their bookkeeping.
Our financial and accounting services put them in control of their business.
Here are a few things we do:
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General Accounting
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Financial Statements
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Accounts Receivable & Payable
My one and only goal will be to work with you and strategize a system that can take your business to the next level with the profits you deserve.
Amy Smith
Contact Me Today!
Professional Bookkeeping for Small Businesses
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