Common bookkeeping mistakes that cost small businesses money

Written By Sue - Paper Trail

Bookkeeping mistakes are easy to make, especially when you are busy running a business. Unfortunately, small errors can quietly cost you money over time.

Some of the most common mistakes include:

  • Not reconciling bank accounts regularly

  • Mixing personal and business transactions

  • Missing or late BAS lodgements

  • Incorrect GST treatment

  • Relying on reports that are not up to date

These issues can lead to penalties, cash flow problems and poor decision-making because the numbers do not reflect reality.

Good bookkeeping is not just about compliance. It is about having accurate, reliable information so you can run your business with confidence.

If you are unsure whether your books are telling the full story, a tidy-up or review can make a big difference.

Sue - Paper Trail
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